Global Cloud Computing Market: Trends, Growth, Analysis, Opportunities, Top Companies, And Overview 2028

 Global Cloud Computing Market Overview

Cloud computing platforms include a broad variety of features, from general storage, computation, and networking power to artificial intelligence and natural language processing (NLP) to traditional office applications. It is projected that more computing capacity will be delivered and distributed by Application as Service (PaaS) and Technology as Service (IaaS) service providers than by corporate data centers in the coming years. Industrial data show that the deployment of these facilities would raise the company's savings by up to 35% of its annual operational costs.

Cloud computing is witnessing significant demand across different industries as it eliminates the requirement for users to plan for provisioning, and further allows enterprises to initiate with small integration and increase resources as per the rise in service demand. Increased return on investment on account of economic efficiency achieved by cloud computing with the advancement in AI and IoT is primarily driving the industry size. Hence, global Cloud Computing will grow at a CAGR of 18% with market size of around USD 1,187 billion by 2028.

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As per the World Economic Forum report, the fourth technological revolution would be segregated by a convergence of technologies such as cloud computing, IoT, and artificial intelligence. Cloud computing and AI will supplement each other, along with IoT, with a view to emerging technologies. Organizations around vertical lines are proactively combining cloud computing with these emerging technologies. The increasing adoption of large businesses, as well as small and medium-sized enterprises, is a significant part of the industry (SMEs). In addition, the pay-per-subscription-based model offered by service providers has provided small and medium-sized businesses with the ability to expand to their maximum potential. With the growing necessity for need-based and on-demand services, cloud computing has aided small as well as medium scale companies to succeed in a wider range.

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Factors such as the rising digital convergence between sectors, the proliferation of the Internet and mobile devices around the world, and the rise in the use of big data are the key drivers of market growth. The creation of next-generation manufacturing technologies will be enhanced by the cloud and will need cloud computing to demonstrate their digital market capability. Rising in the adoption of the Internet of Things (IoT), edge computing, 5G, the adoption of real-time analytics allowed by Machine Learning (ML), and Artificial Intelligence (AI) is likely to enhance the growth of this computing technology across organizations.

The major players of Cloud Computing are Microsoft, Amazon Web Services, IBM Corporations, Oracle, Salesforce, Cisco, and various other players in the market. Most of the players are spread across various regions focusing on inorganic and organic strategies.

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Segment Overview of Cloud Computing Market

Deployment Overview, 2018-2028 (USD Billion)

• Private
• Public

Product Mode Overview, 2018-2028 (USD Billion)

• SaaS
• Iaas
• PaaS

Application Overview, 2018-2028 (USD Billion)

• BFSI
• IT & Telecom
• Retail and e-commerce
• Healthcare
• Manufacturing
• Government and Utilities
• Others

Organization Size Overview, 2018-2028 (USD Billion)

• SMEs
• Large Enterprises

Regional Overview, 2018-2028 (USD Billion)

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • France
  • Germany
  • Rest of Europe
• Asia Pacific
  • India
  • China
  • Japan
  • Rest of Asia-Pacific
• Middle East and Africa
  • Saudi Arabia
  • South Africa
  • Rest of Middle East and Africa
• South America

• Brazil
• Rest of Latin America

What does the report include?

• The study on the Global Cloud Computing Market market includes qualitative factors such as drivers, restraints, and opportunities
• The study covers the competitive landscape of existing/prospective players in the Global Cloud Computing Market market and their strategic initiatives for the product development
• The study covers a qualitative and quantitative analysis of the market segmented based on Softwares, Enterprise size, and vertical. Moreover, the study provides similar information for the key geographies.
• Actual market sizes and forecasts have been provided for all the above-mentioned segments.

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