Cloud Computing Market to Witness Heightened Revenue Growth in the Next Decade

Cloud Computing Market: Trends 2022
Updated Business Statistics and Research
Methodology
Industry Survey, Growth, Competitive Landscape
and Forecasts to 2030
PREPARED BY
Market Research Future
(Part of Wantstats Research & Media Pvt. Ltd.)

Cloud Computing Market
The global cloud computing market is set to exhibit 19.4% CAGR over the forecast period. It is
attributed to flexibility and scalability accorded to individuals and organizations owing to its
implementation. Increasing maintenance costs of hosting, workforce charges, and shift towards
digital channels can drive market growth. Use of cloud computing by enterprises for curbing
operational expenditure can bode well for the market.
The COVID-19 outbreak has accelerated the shift to digital models and propelled the market
demand. Government regulations and increased spending on cloud computing can favor the
market. Rollout of novel subscription programs by cloud service providers for smooth onboarding
of clients coupled with transparency and pricing in their business models can bode well for the
cloud computing market.
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Cloud Computing Market
Market Segmentation
By service model, the SaaS segment to attain the highest share owing to preference of external service
providers by large companies for hosting their services. The move by enterprises to shift their
applications to the cloud can favor the segment.
By deployment mode, the public cloud segment can capture the highest share over the assessment
period. This is credited to scalability of cloud and control over data centers.
The public cloud segment captured the largest market share in 2018, and it is expected to post a CAGR
of 20% during the forecast period.
By organization size, the large enterprise segment to lead the market and post 19% CAGR over the
forecast period. Low operational expenditure, fast product to market, increased flexibility and
collaboration can drive the demand for cloud computing in the segment.
By vertical, the BFSI segment to post the highest CAGR of 18.6% during the forecast period. This is
attributed to use of cloud computing resources by companies to cater to customer data management
and digitization of wealth. Services such as mobile wallets, online transactions, and omnichannel
experiences can drive the integration of cloud in the sector.
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Cloud Computing Market
Cloud Computing Market Key Players
The key players profiled in the global Cloud Computing Market report include –
• Amazon.com Inc.
• Microsoft Corporation
• Alphabet Inc
• Oracle Corporation
• Salesforce.com
• Inc.
• VMware
• Inc.
• IBM Corporation
• Alibaba Group Holding Ltd.
• Dell EMC Corp.
• Rackspace Inc.
• Adobe Systems Inc.
• SAS Institute Inc
• and TIBCO Software Inc.

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Cloud Computing Market
Regional Analysis:
North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW) are major regions covered in
the cloud computing market.
North America is touted to lead the market owing to demand for stable internet connectivity and stable
working conditions for employees. Commitment by cloud service providers such as Cisco, Amazon,
Microsoft, IBM, Google, and others for offering storage services and infrastructure to enterprises and
individuals.
APAC is likely to showcase a strong growth rate during the forecast period owing to shift to digitalization
of data and data protection demands of countries of India and China. Adoption of cloud by healthcare
organizations during the pandemic to scale their operations and cater to storage requirements due to
large influx of patients can drive the regional market demand. The move by corporations to move their
data to the cloud can spur the market demand. This is exemplified by announcement of
telecommunication providers such as Smart, Dialog, Celcom, XL Axiata, Robi, and Ncell planning to move
their services to Google cloud for modernizing their infrastructure.

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Cloud Computing Market
Industry news
The Pentagon, house of the U.S. Department of Defense, is considering a move to cloud computing to
move to highly secure architecture and enable communications with soldiers on battlefields.
Developments
In June 2020, Amazon launched AWS Europe (Milan) and AWS Africa (Cape Town) to extend its
availability zones to 76 in 24 geographic regions worldwide. It also revealed plans for nine new
availability zones and three more AWS regions in Indonesia, Japan, and Spain.
In May 2020, Microsoft released an industry-specific cloud offering for healthcare organizations and
enhanced workflow efficiency and simplified interactions. Microsoft Cloud for Healthcare involves
data analytics for both structured and unstructured data.
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Cloud Computing Market
COVID-19 Analysis
In the space of just a few months, the SARS-CoV-2 has upended businesses on a large scale.
However, cloud computing is one industry that has emerged much stronger than before. With
Netflix and similar OTT platforms recording twice as many subscribers than ever before, there is
no doubt that Internet and related technologies have become more valuable now. With physical
interaction becoming an obsolete form of communication due to social distancing, enterprises
worldwide have now shifted to digital solutions to ensure continued productivity. The US and
Europe now need employees to operate remotely and universities as well as schools are
deploying video conferencing platforms for distance learning via recorded or live lectures.
COVID-19 Cloud Computing Services are presumed to be in high demand in the coming few
months, anticipates MRFR.

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