New York, NY, April 7, 2021 (GLOBE NEWSWIRE) – According to the research report by Facts and Factors, the size and proportion of the global cloud computing market was estimated at $ 321 billion in 2019 and is expected to hit a record high by 2026 USD 1,025.9 billion. The global cloud computing market is forecast to grow at an average annual growth rate (CAGR) of 18% from 2019 to 2026.
Cloud computing is a model for the provision of information technology services in which third-party computer resources and software tools are offered over the Internet network. Cloud computing offers several advantages over the on-site hardware infrastructure, e.g. B. quick installation, scalability, low costs, mobile support and less network maintenance.
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Important questions answered in this report
1) What is the pre-business and post-business impact of COVID-19 on the cloud computing market?
2) How big is the market and how big is the cloud computing market?
3) Who are the top players in the cloud computing market?
4) What will the future cloud computing market be?
Important findings from primary research
- According to our key respondents, the global cloud computing market will grow by around 18% annually
- Through primary research, it was found that the cloud computing market was valued at around $ 321 billion in 2019.
- North America had the largest market share in 2019 due to the high level of acceptance of cloud-based solutions in industrialized countries such as the USA and Canada.
- Based on the delivery model segment, “Hybrid” dominated the global cloud computing market in 2019
- Based on various applications, the global cloud computing market was led by the BFSI in 2019.
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The increasing acceptance of cloud-based solutions in recent years is driving the cloud computing market worldwide. Hybrid deployment is becoming increasingly popular for companies because of its scalability, flexibility, multi-cloud storage space and security guarantee. In addition, the growth of digital disruption has boosted the cloud computing business. However, increasing security concerns have hampered market growth. In the coming years, the increase in the BYOD trend and several competitive advantages of cloud computing over a local IT system will fuel global market growth.
Important market participants in the industry
- Amazon.com Inc.
- Microsoft Corporation
- Alphabet Inc.
- Oracle Corporation
- Cisco Systems Inc.
- Salesforce.com Inc.
- SAP SE
- VMware Inc.
- Rackspace Inc.
- Adobe Systems Inc.
- SAS Institute Inc.
- Dell EMC Corp.
- TIBCO Software Inc.
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Cloud Computing Market: Key Segments
The Cloud Computing market is segmented based on the service model, delivery model, company size, and vertical. Based on the segmentation of service models, the market is divided into Infrastructure as a Service (IaaS), Platform as a Service (PaaS) and Software as a Service (SaaS). In terms of the segmentation of the deployment model, the market is divided into public, private, and hybrid. The hybrid cloud holds the largest market share due to its increasing acceptance of various benefits such as data security and large storage space to reduce capital investments by providing a combined solution of the public and private cloud models. Due to the size of the company, the market has been divided into small, large and medium-sized companies. Large companies hold the largest market share in 2019. In addition, the vertical segment has been broken down into Banking, Financial Services and Insurance (BFSI), IT and Telecommunications, Government and Public Sector, Retail, Healthcare, Energy and Utilities, Media and Entertainment, and Manufacturing among others. The BFSI segment has dominated the entire cloud computing market in recent years and is expected to maintain its position during the analysis period as the hybrid cloud is increasingly deployed as it helps banks manage their costs more flexibly.
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Cloud Computing Market: Regional Analysis
In terms of geography, the Cloud Professional Services market is segmented into North America, Latin America, Europe, the Middle East and Africa, and Asia Pacific. In 2019, North America dominated the regional cloud computing markets due to the high level of acceptance of cloud-based solutions in industrialized countries such as the USA and Canada. The Asia-Pacific region is expected to be the fastest growing market as skilled workforce increases and the number of small and medium-sized businesses increases in countries like India, China, and Brazil, among other things. As a result, the increasing adoption of cloud services will fuel the global cloud computing market. The five most important regions considered are further analyzed in important countries such as USA, Mexico, Germany, Great Britain, Canada, South Korea, Italy, India, Japan, Brazil, United Arab Emirates, Egypt, France, China, South Africa and Kuwait.
Search the full Cloud Computing market by service model (infrastructure as a service (IaaS), platform as a service (PaaS) and software as a service (SaaS)), by delivery model (public, private and hybrid), by company size (small and medium-sized Corporate & Large Corporations) and Vertical (Banking, Financial Services & Insurance (BFSI), Telecommunications & IT, Government & Public Sector, Retail, Healthcare, Energy, Media & Entertainment, Manufacturing & Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences , statistical surveys, comprehensive analysis, historical developments, current trends and forecasts, report 2020–2026 ”at https://www.fnfresearch.com/cloud -Computing-Market-by-Service-Model-Infrastructure-as-1145
This report segments the Cloud Computing Market as follows:
Global Cloud Computing Market: Service Model Segmentation Analysis
- Infrastructure as a service (IaaS)
- Platform as a Service (PaaS)
- Software as a service (SaaS)
Global Cloud Computing Market: Through segmentation analysis of the deployment model
Global Cloud Computing Market: Segmentation Analysis by Company Size
- Small and medium-sized businesses
- Large companies
Global Cloud Computing Market: Through Vertical Segmentation Analysis
- Banks, Financial Services and Insurance (BFSI)
- Telecommunication & IT
- Government and public sector
- retail trade
- Health care
- Energy and supply
- Media and entertainment
Key recommendations from analysts
- According to our analysts, the global cloud computing market is expected to grow significantly over the forecast period, reaching around USD 1025 billion by 2026.
- According to analysts, the rise of globalization and the increasing technological development in the APAC region will increase sales of cloud computing.
- According to our analysts, the rapid economic development, the increasing acceptance rates of technologies, digitization and the increasing acceptance of cloud-based technologies are driving the global cloud computing market.
- The strategic and competitive advantages of cloud-based solutions are fueling the market worldwide.
- According to analysts, the high acceptance of cloud solutions by SMEs, strategic alliances and the growth in consulting and managed services will fuel the growth of the cloud computing market in the coming years
- In the coming years, the Asia-Pacific region is expected to be the fastest growing regional market due to increasing R&D investment by international players and technological advances in existing CRM devices.
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