Market Segmentation
The cloud computing market has been considered for service model,
deployment model, and organization size.
The COVID-19 cloud computing services discussed in the review are
Infrastructure as a service (IaaS), platform as a service (PaaS) and software
as a service (SaaS). In 2018, the SaaS segment led the global market with a
share of of 58% and can expand at a strong growth rate in the coming years. The
IaaS segment can take the second lead and record the fastest expansion rate
during the appraisal period.
The deployment modes taken into account include public, hybrid and
private cloud. In 2018, public cloud emerged as the leading segment and is
presumed to achieve a growth rate of 20% over the forecast timeframe. The
second-largest portion of the global marked belonged to the hybrid cloud
segment in 2018, which is set to procure the highest CAGR in the next several
years.
The organization sizes covered in the study are small &
medium-sized enterprises as well as large enterprises. In 2018, large
enterprises segment dominated the market and has the potential to advance at a
rate of 19% in the upcoming period. The SMEs segment can however, make headway
at the highest growth rate over the given timeframe.
The verticals that use the cloud computing technology are retail
and consumer goods, government and public sector, media and entertainment,
energy and utilities, healthcare and life sciences, IT and telecommunications,
banking, financial services and insurance (BFSI), manufacturing, and others.
While the BFSI segment held the biggest share in the market in 2018, the
manufacturing segment came second. However, the fastest gaining segment can be
retail and consumer goods during the evaluation period.
Regional Insight
Asia Pacific (APAC), the Middle East & Africa or MEA, South
America, North America, and Europe are the regions where the cloud computing
market size has been evaluated by MRFR.
As of 2018, North America emerged as the most successful market
and can note sustainable growth between 2019 and 2024. The rapid migration of
companies towards cloud computing services in Canada, Mexico and the US is one
of the prime reasons for the robust market growth in the region. While the
region is struggling to achieve a covid-19 breakthrough, companies are
leveraging the benefits of cloud computing to remain afloat in the face of the
crisis. For instance, IBM is providing enterprises the ability to develop
virtual server configurations; offering access to cloud services for team
collaboration and file sharing; in addition to supplying their event management
solution to diagnose, resolve and prioritize incidents.
The APAC can post a tremendous growth rate of 22.1%, which is the
highest out of all the regions. India, Japan, and China are the leading revenue
generating markets in the region. The uptake of the cloud technology in the
region is anticipated to surge in industries where the work from home
initiative has become the basic form of operating, some of which are
telecommunication, IT & ITeS, government and BFSI. Post COVID 19 cloud
computing market share is expected to expand further in the region, backed by
the solid efforts given by the renowned players like Alibaba Group Holding
Limited, Chief Telecom Inc., FUJITSU and China Telecom Americas, to provide
advanced cloud computing services at competitive prices.
Leading Players
Notable companies active in the cloud computing industry are Adobe
Systems Inc, Dell EMC Corp., SAS Institute Inc, Oracle Corporation, Alibaba
Group Holding Ltd., Alphabet Inc, Salesforce.com Inc., SAP SE, Microsoft
Corporation, IBM Corporation, TIBCO Software Inc, Amazon.com Inc., Cisco
Systems Inc., VMware Inc., Rackspace Inc., to list a few.
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Full Report Details @ https://www.marketresearchfuture.com/reports/cloud-computing-market-1013
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