Global Cloud Computing Market – Industry Trends and Forecast to 2030

Cloud Computing Market Analysis and Size

Every organization and industry are using cloud computing for an extensive variety of cases, such as email, virtual desktops, data backup, disaster recovery, software big data analytics, development and testing and customer-facing web applications. For instance, healthcare companies are using cloud computing to create more personalized treatments for the patients. Financial services companies are using the cloud computing to power real-time fraud prevention and detection. Furthermore, video game markets are using these computing to offer online games to millions of players all over the globe.

Data Bridge Market Research analyses that the global cloud computing market which was USD 4,21,667.11  million in 2022, is expected to reach USD 14,78,603.93 million by 2030, and is expected to undergo a CAGR of 15.0% during the forecast period of 2023 to 2030. “Software as a service (SaaS)” is expected to dominate the market. The widespread acceptance of SaaS can be attributed to its simple setup, flexible pricing, and simple maintenance. Remote working, which enables collaborative teams to access data that was previously centralized, has resulted in a rise in demand for SaaS services. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Cloud Computing Market Scope and Segmentation

Market Definition

Cloud computing is the delivery of computing services in which including databases, networking, software, analytics, servers, storage, and intelligence over the internet. The cloud based computing provide flexible resources, faster innovation, and economies of scale. It enables enterprises and users with various capabilities to process and store data on either a third-party server or a privately-owned cloud to make data accessing mechanisms ever more reliable and easier.

Global Cloud Computing Market Dynamics

Drivers

• Increasing Deployment of Private Cloud Computing

Private clouds deliver computing capabilities over the internet or a personal network, and these cloud based computing are also available to a small group of users rather than public. Self-service, scalability, and elasticity are among the advantages it delivers to enterprises, as are controls hosted on on-premise computer infrastructure and further customization. Moreover, private clouds give a higher level of security and privacy for third-party providers by using firewalls and internal hosting to assure high-level data protection.

• Increasing Concern Regarding Data Security and Privacy

Data privacy and security are the primary concerns of organizations, wherein use, storage and transmission of data or information must be digitally protected. According to surveys, around 60% of business-sensitive data or information on hard drives is held insecurely. Authorization management, access control, data encryption, cloud integration, monitoring and auditing, communication security, and business continuity services are some of the significant security services provided by the vendors. For instance, vendors such as Microsoft Corporation, Google LLP and Amazon.com Inc. provide 99.9% uptime, which releases organizations from the burden of maintaining and creating recovery facilities and backup infrastructure.

Opportunity

• Increasing Adoption of Cloud Computing Small and Medium Enterprises (SMEs)

It is anticipated that small and medium enterprises (SMEs) are going to be main adopters of cloud based computing in the coming years. These services have been aiding enterprises to increase business functionality by improving productivity and minimizing operating costs. As investments in cloud based computing in numerous reliable operating system is considerably growing, small size businesses can also be profited by enhancement in their operational efficiency with minimalized IT infrastructure cost. Therefore, small and medium enterprises are expected to provide many opportunities for the global cloud computing market.

 Restraints/ Challenges

• Issues associated with Cloud Computing

Insufficient network bandwidth providers limited technical expertise among enterprises and dearth of access to high-speed internet are expected to act as major market restraint for the growth of cloud computing during the period. Furthermore, compatibility complications with legacy systems and the increase in the need to manage compliance policy and regulatory needs can challenge the growth of the market in the forecast period of 2023 to 2030.

This global cloud computing market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global cloud computing market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Developments

• In May 2023, Amazon Web Services (AWS), the cloud computing division of Amazon.com Inc. announced the investment plan of USD 12.7 Billion in India by 2030. The objective is to fulfill the nation's rising demand for cloud services. AWS estimates that this infrastructure investment in data centers would support 131,700 full-time equivalent employments yearly in Indian companies
• In May 2023, IBM announced the launch of IBM Hybrid Cloud Mesh, a SaaS platform in order to help businesses manage their hybrid multi-cloud infrastructure. With "Application-Centric Connectivity" at its core, IBM Hybrid Cloud Mesh is designed to automate the process, management, and visibility of application connectivity in and between public and private clouds, assisting modern enterprises in managing their infrastructure across hybrid multicloud and heterogeneous environments

Global Cloud Computing Market Scope

The market is segmented on the basis of service model. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Service Model

• Infrastructure as a Service (IaaS)
• Primary Storage
• Disaster Recovery and Backup
• Archiving and Compute
• Platform as a Service (PaaS)
• Application Development and Platforms
• Application Testing and Quality
• Analytics and Reporting
• Integration and Orchestration
• Data Management
• Software as a service (SaaS)
• Customer Relationship Management (CRM)
• Enterprise Resource Management (ERM)
• Human Capital Management (HCM)
• Content Management
• Collaboration and Productive Suites
• Supply Chain Management (SCM)
• Others

Global Cloud Computing Market Regional Analysis/Insights

The global cloud computing market is analysed and market size insights and trends are provided by country, service model, deployment model, organization size, and end user as referenced above.

The countries covered in the cloud computing market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E., South Africa, Egypt, Israel, rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and rest of South America as part of South America.

North America dominates the global cloud computing market in terms of revenue and market share. This is mainly owing to the strong presence of numerous vendors and increasing adoption of cloud computing solutions in this region.

Asia-Pacific will continue to project the highest growth rate in the global cloud computing market during the forecast period of 2023-2030 owing to the high growth of India and China associated with the presence of market players in this region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points like downstream and upstream value chain analysis, technical trends, and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and the challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Global Cloud Computing Market Share Analysis

The global cloud computing market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus related to global cloud computing market.

Some of the major players operating in the global cloud computing market are:

• Microsoft (U.S.)
• Orcale (U.S.)
• IBM (U.S.)
• Amazon Web Services, Inc. (U.S.)
• Google (U.S.)
• Intel Corporation (U.S.)
• Salesforce, Inc. (U.S.)
• Fujitsu (Japan)
• Akamai Technologies (U.S.)
• Edgio (U.S.)
• AWS (U.S.)
• AT&T (U.S.)
• Cloudflare, Inc. (U.S.)
• Lumen Technologies (U.S.)
• Deutsche Telekom AG (Germany)
• Fastly Inc, (U.S.)
• Citrix Systems, Inc. (U.S.)
• NTT Communications Corporation (Japan)
• RACKSPACE TECHNOLOGY (U.S.)

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