Global Cloud Computing Market Analysis & Forecast, 2022-2028

The report, titled “Global Cloud Computing Market” analyses the regional and global market on the basis of an operational model for services, deployment model, the end-user, as well as the region. The RationalStat report offers a thorough analysis of the market’s historical and projected size, along with growth estimates for each year.

It is anticipated that the Cloud computing industry is divided into deployment models, service types, end-user, and locations. The report provides a study of market shares, an overview of the competition and strategic imperatives, as well as future growth strategies, global adoption of cloud computing and growth possibilities, and a competitive assessment of the key players in the global market for cloud computing.

Global Cloud Computing Market Analysis & Forecast

The market for cloud computing is predicted to expand at a rate of 15% or more during the period 2022-2028. According to the International Telecommunication Union (ITU), the percentage of users connected to the internet has risen significantly from 43 percent between 2016 and 2021. The explosion of digital content as well as the rise in internet usage has led to the growth of the global cloud computing market in recent years.

The global market for cloud computing is expected to witness significant growth over the next 6 years, mostly due to the growing demand for business continuity software and services, the increasing inclination of businesses toward agility and automation, and a higher ROI with less storage and infrastructure costs. Furthermore, the integration with big data AI and machine learning, and cloud computing will further boost the market for the cloud computing market globally.

Based on revenues, North America is dominating the market because of the rapid use of technology such as AI robots, IoT as well as Cloud. The Asia Pacific is expected to experience substantial growth due to a large number of companies and the keen focus given to them on growing within the region. Private and public sectors will contribute to increasing cloud adoption across all countries in Europe.

Segmental Analysis

• Based on deployment mode, the hybrid cloud segment is expected to dominate the global market. Hybrid cloud is gaining demand among organizations on account of the ongoing migration of applications over the cloud.
• On the basis of the service model, the Infrastructure as a Service (IaaS) segment is growing significantly. One significant application of modern cloud computing technologies is the IaaS public cloud. Since the launch of Amazon EC2, a growing number of platforms have emerged to offer computing and storage resources. The platforms’ goal is to deliver virtual computers to users on demand for specified CPU frequency, core count, storage capacity, and memory size.
• Based on region, North America is dominating the global market due to high internet penetration, well-established ICT infrastructure, the high adoption rate of cloud computing services, and the presence of a large number of enterprises.

Competition Analysis

The global cloud computing market is fragmented in nature with the presence of various prominent players in the market. The global market comprises a vibrant start-up ecosystem and is expected to have more than 100 startups developing and innovating solutions and services for consumers. These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Acquisitions and product launches are among the key strategies adopted by major industry players. For instance,

• In February 2022, IBM Corp. acquired Neudesic, an application development, and cloud computing service company. Neudesic has been integrated into the Consulting segment of IBM. The acquisition would further enable strengthening of the IBM’s cloud computing solutions offerings.
• In September 2021, Health Cloud 2.0 platform was launched by Salesforce. Health Cloud 2.0 facilitates the delivery of enhanced safety to the employees and customers of the company using various modules, including Dreampass, and Contact Tracing. The new product launch would reinforce the revenue stream of Salesforce by broadening product and service offerings.

Some of the prominent players involved in the global cloud computing market include Adobe Inc., Alphabet Inc. (Google Inc.), Amazon.com Inc., Cisco Systems Inc., Hewlett Packard Enterprise, IBM Corp., Microsoft Corp., Oracle Corp., Salesforce, Inc., SAP SE, and VMware, Inc., among others.

RationalStat has segmented the global cloud computing market on the basis of service model, deployment model, end-user, and region.

• By Service Model
  • Infrastructure-as-a-Service (IaaS)
  • Platform-as-a-Service (PaaS)
  • Software-as-a-Service (SaaS)
• By Deployment Model
  • Public
  • Private
  • Hybrid
• By End Use
  • Banking, Financial Services, and Insurance (BFSI)
  • IT & Telecommunications
  • Government and Public Sector
  • Retail and Consumer Goods
  • Manufacturing
  • Energy and Utilities
  • Media and Entertainment
  • Healthcare and Life Sciences
  • Others (Education, Travel and Hospitality, and Transportation and Logistics)
• By Region
  • North America
    • US
    • Canada
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Western Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
    • Benelux
    • Nordic
    • Rest of Western Europe
  • Eastern Europe
    • Russia
    • Poland
    • Rest of Eastern Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • ASEAN (Indonesia, Vietnam, Malaysia, etc.)
    • Rest of Asia Pacific
  • Middle East & Africa
    • GCC
    • South Africa
    • Turkey
    • Rest of the Middle East & Africa

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