Global Cloud Computing Market
Global Cloud Computing Market was valued at USD 275.22 billion in 2019 which is expected to reach USD 625.45 billion by 2027 at a CAGR 18.8%.
Cloud computing technology is the practice of network sharing of remote servers that are hosted on internet to store, process, and data management rather than on personal computer or local server. Use of cloud computing technology gives cost benefits and makes applications accessible to all type devices in the network at any time and any location.
Information and Communication Technology can also be defined as the convergence of media technology. Convergence of media technology comprises telephone and audio-visual networks along with computer networks. It is built by the application of a combined structure of link systems or cabling that includes management and signal distribution. Information and Communication Technology has no universally applicable definition.
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Increase in digitalization and penetration of internet and medical devices is expected to boost the global cloud computing market growth. Furthermore, continuous developments of next generation industrial solutions and rise in adoption of edge computing, 5G technology, Internet of Things (IOT), Machine Learning, and Artificial Intelligence will have the positive impact on global cloud computing market growth. Increase in innovation in cloud computing is expected to propel the growth of global cloud computing market growth.
However, data privacy and security concern is the major restraining factor which is expected to hamper the growth of global cloud computing market.
Market Key Players
The report includes the key driving forces prevailing in the global Cloud Computing Market. This part of the report has been studied keeping in mind the political, economic, social, technological, geographical, and cultural scenario of the global Cloud Computing Market. These factors can be projected to have their effects on the market, or they can have interconnected impacts. Besides, subtle change in the timeframe within which these factors are functioning might have ripple effects on the global Cloud Computing Market.
Various key players are discussed in this report such as AWS, Salesforce, Rackspace, VMware, SPA, Alibaba, Oracle, Google, and Microsoft Corporation.
- Infrastructure as a Service (IaaS)
- Software as a service (SaaS)
- Platform as a Service (PaaS)
By Deployment Type
- Private Cloud
- Public Cloud
- Hybrid Cloud
- Community Cloud
By Enterprise Size
- Small and Medium Size Enterprise
- Large Enterprise
- IT & Telecommunication
- Consumer Goods and Retail
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
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