Demand for Global Cloud Computing Market Size & Share to Surpass USD 1025.7 Bn by 2028, Exhibit a CAGR of 15.80% | Cloud Computing Industry Trends, Dynamics, Growth, Value, Analysis & Forecast Report by Facts & Factors

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NEW YORK, NY, June 22, 2022 (GLOBE NEWSWIRE) — Facts and Factors has published a new research report titled “Cloud Computing Market – Global & Regional Industry Perspective, Comprehensive Analysis, Size & Share, Growth, Trends, Statistical Research, and Forecast 2022 – 2028” in its research database.

“According to the latest research study, the demand of global Cloud Computing Market size & share in terms of revenue was worth of USD 429.5 billion in 2021 and it is expected to cross around USD 1025.7 billion mark, by 2028, growing at a compound annual growth rate (CAGR) of about 15.80% during the forecast period 2022 to 2028.”

What is Cloud Computing? How big is the Cloud Computing Industry?

Market Overview:

The use of distant computers that are hosted on the internet enables cloud computing, which in turn enables businesses to store, manage, and process vital data. A few of the factors that are driving the growth of emerging technologies include the ever-increasing volume of data that is being generated by websites and mobile apps, the growing emphasis on delivering customer-centric applications to drive customer satisfaction, and the growing need to control and reduce Capital Expenditure (CAPEX) and Operational Expenditure (OPEX).

The global market for cloud computing is being propelled forward by newly emerging technologies such as big data, artificial intelligence (AI), and machine learning (ML). The expansion of cloud computing services is being propelled by a number of important issues, the most important of which are the protection of sensitive data, the acceleration of disaster recovery (DR), and the fulfilling of regulatory mandates.

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  • Introduction, Overview, and in-depth industry analysis are all included in the 2022 updated report.
  • The COVID-19 Pandemic Outbreak Impact Analysis is included in the package
  • About 219+ Pages Research Report (Including Recent Research)
  • Provide detailed chapter-by-chapter guidance on Request
  • Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2022
  • Includes Tables and figures have been updated
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  • Facts and Factors research methodology

(Please note that the sample of this report has been modified to include the COVID-19 impact study prior to delivery.)

Report Scope

Report Attribute Details
Market Size in 2021 USD 429.5 Billion
Projected Market Size in 2028 USD 1025.7 Billion
CAGR Growth Rate 15.80% CAGR
Base Year 2021
Forecast Years 2022-2028
Key Market Players Microsoft (US), AWS (US), Salesforce (US), Oracle (US), SAP (Germany), Google (US), Workday (US), Adobe (US), IBM (US), and Others
Key Segment By Service Model, IaaS, PaaS, SaaS, Deployment Model, Organization Size, Verticals, and Region
Major Regions Covered North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa
Purchase Options Request customized purchase options to meet your research needs.

Global Cloud Computing Market Dynamics

As organizations continued to migrate workloads from traditional channels to digital formats, the cloud-computing market accelerated demand. Many businesses in a variety of industries have adopted the work-from-home model in order to maintain employee well-being and operational efficiency, increasing the demand for Software-as-a-Service (SaaS)-based solutions. The rise in Video-On-Demand (VoD) consumption has increased the demand for Infrastructure as a Service (IaaS) to meet consumer demands. Cloud computing enables more efficient and faster adaptation and operation of business operations in changing market environments. It simplifies the process of consuming technology. It has opened up previously unimagined possibilities for creating highly engaging customer experiences.

Cloud computing has influenced people’s and businesses’ behavior, allowing multiple lines of business to work around technology policies in order to get things done. Cloud trends are guiding organizations’ investment strategies, digital business decision-making processes, and vendor and technology selection. Rapid digitization is compelling businesses to modernize their application and infrastructure landscapes in order to improve cost efficiency and business agility. Organizations can effectively support their key business activities, move business workloads to a cloud platform, and avoid network latency by implementing cloud solutions and services.

Browse the full “Cloud Computing Market By Service Model (Infrastructure as a Service (IaaS), Platform as a Service (PaaS), Software as a service (SaaS)), By IaaS (Primary Storage, Disaster Recovery and Backup, Archiving, Compute), By PaaS (Application Development and Platforms, Application Testing and Quality, Analytics and Reporting, Integration and Orchestration, Data Management), By SaaS (Customer Relationship Management (CRM), Enterprise Resource Management (ERM), Human Capital Management (HCM), Content Management, Collaboration and Productive Suites, Supply Chain Management (SCM), Others), By Deployment Model (Public Cloud, Private Cloud), By Organization Size (Small and Medium-sized Enterprises (SMEs), Large Enterprises), By Verticals (Banking, Financial Services, and Insurance (BFSI), Telecommunications, IT and ITeS, Government and Public Sector, Retail and Consumer Goods, Manufacturing, Energy and Utilities, Media and Entertainment, Healthcare and Life Sciences, Others), and By Region – Global Industry Overview, Market Size, Statistical Research, Market Intelligence, Comprehensive Analysis, Historical Trends, and Forecast 2022–2028” Report at https://www.fnfresearch.com/cloud-computing-market

Cloud Computing Market: COVID-19 Impact Analysis

The COVID-19 outbreak has emerged as a major global economic threat. Business continuity issues brought on by lockdown, work from home, social isolation, and other market requirements can be overcome with the aid of cloud computing. But because of the epidemic, employers, managers, and workers are choosing remote work more and more. The most recent trend of remote work has appeared and is anticipated to last for a while. The pandemic is predicted to cause one of the biggest changes in the workplace. As Industry 4.0, or the fourth industrial revolution, accelerates, it is transforming how companies use smart technologies like mobile supercomputing, IoT, big data, and artificial intelligence.

The full research study examines the market for cloud computing from both a qualitative and quantitative perspective. Investigations have been conducted on both the supply and demand sides of the market. Before comparing it to all of the major countries, the demand side analysis looks at market income in various regions. The biggest competitors in the market are examined in the supply-side research, along with their regional and worldwide presence and business models. There is a thorough investigation of every significant nation in North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.

Cloud Computing Market: Segmentation Analysis

The global Cloud Computing market is segregated based on the service model, IaaS, PaaS, SaaS, deployment model, organization size, and verticals.

By Organization Size Segment Analysis

Based on the organization size, the segment of large enterprises held the largest market share. Lower operating costs, improved collaboration, increased flexibility, and a shorter time to market are all driving factors in demand. Cloud computing enables businesses to delegate routine tasks to technology that can complete them more quickly. As a result, increased usage in major organizations to streamline operations is expected to aid the segment’s growth. During the forecast period, the growing number of large enterprises in both developed and developing countries would drive up demand for cloud computing services.

By Verticals Segment Analysis

Based on the verticals, the BFSI segment had the highest revenue share. The BFSI sector has seen an increase in online banking activity, prompting lenders to embrace digital transformation, with cloud computing playing a key role in this strategy. Cloud computing has assisted firms in the BFSI sector to reduce costs, encourage innovation, strengthen client relationships, and increasing flexibility. The adoption of cloud services for the storage and management of consumer data can be attributed to the expansion. Payment gateways, online fund transfers, digital wallets, and unified customer experiences, among other services, are expected to play a significant role in the BFSI industry, assisting with the overall shift to cloud deployment.

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Competitive Landscape

The report contains qualitative and quantitative research on the global cloud computing market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market’s main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company’s global presence, competitors, service offers, and standards.

Some of the main competitors dominating the global cloud computing market include – 

  • Microsoft (US)
  • AWS (US)
  • Salesforce (US)
  • Oracle (US)
  • SAP (Germany)
  • Google (US)
  • Workday (US)
  • Adobe (US)
  • IBM (US)

Key Insights from Primary Research:

  • As per the analysis shared by our research analyst, the Cloud Computing market is estimated to grow at a CAGR of around 15.80% over the forecast period (2022-2028).
  • In terms of revenue, The Cloud Computing market was valued at around US$ 429.5 billion in 2021 and is projected to reach US$ 1025.7 billion, by 2028. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
  • Based on service model segment, the Software as a Service (SaaS) generated the highest revenue share.
  • Based on deployment model segment, the market for cloud computing was controlled by the private deployment segment, which generated the majority of sales.
  • On the basis of region, the Asia-Pacific region is anticipated to offer a substantial number of growth prospects throughout the duration of the forecast timeframe.

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Key questions answered in this report:

  • What is the market size and growth rate forecast for Cloud Computing industry?
  • What are the main driving factors propelling the Cloud Computing Market forward?
  • What are the leading companies in the Cloud Computing Industry?
  • What segments does the Cloud Computing Market cover?
  • How can I receive a free copy of the Cloud Computing Market sample report and company profiles?

Regional Dominance:

Over the forecast period, Asia Pacific is expected to be the fastest-growing region. The rapid rise of China and India, as well as the emergence of regional players such as Alibaba Group, has fuelled the regional market growth. Make in India initiatives have resulted in large investments in the industrial and IT industries, boosting demand for India’s cloud computing market.

In addition, hyper-scale cloud providers are building data centers in markets such as Indonesia and Thailand to meet the governments’ data sovereignty requirements.

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The global cloud computing market is segmented as follows:

By Service Model

  • Infrastructure as a Service (IaaS)
  • Platform as a Service (PaaS)
  • Software as a Service (SaaS)

By IaaS

  • Primary Storage
  • Disaster Recovery and Backup
  • Archiving
  • Compute

By PaaS

  • Application Development and Platforms
  • Application Testing and Quality
  • Analytics and Reporting
  • Integration and Orchestration
  • Data Management

By SaaS

  • Customer Relationship Management (CRM)
  • Enterprise Resource Management (ERM)
  • Human Capital Management (HCM)
  • Content Management
  • Collaboration and Productive Suites
  • Supply Chain Management (SCM)
  • Others (Business Intelligence (BI) and Analytics, PPM and operations and manufacturing applications)

By the Deployment Model

  • Public Cloud
  • Private Cloud

By Organization Size

  • Small and Medium-sized Enterprises (SMEs)
  • Large Enterprises

By Verticals

  • Banking, Financial Services, and Insurance (BFSI)
  • Telecommunications
  • IT and ITeS
  • 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
    • U.S.
    • Canada
  • Europe
    • France
    • UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia Pacific
  • The Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

To know an additional revised 2022 list of market players, request a sample report: https://www.fnfresearch.com/sample/cloud-computing-market

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