Dublin, Aug. 11, 2021 (GLOBE NEWSWIRE) — The “Cloud Computing Market Size, Share & Trends Analysis Report by Service (SaaS, IaaS), by Enterprise Size (Large Enterprises, SMEs), by End Use (BFSI, Manufacturing), by Deployment, and Segment Forecasts, 2021-2028” report has been added to ResearchAndMarkets.com’s offering.
The global cloud computing market size is expected to reach USD 1,251.09 billion by 2028, registering a CAGR of 19.1% over the forecast period. This growth can be attributed to several factors, including digital transformation across various industries, a surge in internet penetration, and big data consumption in various verticals. Increasing adoption of 5G, Internet of Things (IoT), and Artificial Intelligence (AI) is expected to further support the growth of the market for cloud computing.
The outbreak of the COVID-19 pandemic is likely to affect businesses drastically, stifling innovation, suppressing profitability, and drying up cash flow and financial reserves. IT and software development industries have also been facing challenges due to this unforeseen outbreak. However, the impact on the software industry, including cloud computing, has been relatively low. With the growing adoption of the work-from-home model, due to the second wave of the pandemic, the customers spending in Infrastructure-as-a-Service (IaaS) and Desktop-as-a-Service (DaaS) segments increased significantly.
In addition, with the growing number of remote workers due to this pandemic, more business is being conducted through email and collaboration tools, which is expected to drive market growth. Organizations are adopting cloud computing services as they provide insights into partnering tactics, go-to-market approaches, investments, alliance & acquisition strategies, and best operational practices. Moreover, these services help measure, correlate, and analyze business activities and ensure that company operations are in line with the customer demands.
Key vendors focus on introducing new cloud solutions, services, and workloads and upgrading of capabilities of their current offerings to strengthen their foothold in the market. Furthermore, vendors also engage in mergers and acquisitions to strengthen their market position and enhance their cloud capabilities. For instance, in July 2019, Google LLC acquired Elastifile, an enterprise cloud storage provider, to expand its cloud-based file storage capabilities for enterprise-grade applications. This acquisition helped extend the former company’s current file storage offerings, third-party partner offerings, and Cloud Filestore.
Cloud Computing Market Report Highlights
- The IaaS segment is expected to register the highest CAGR over the forecast period owing to the increased adoption of multi-cloud due to benefits, such as scalability and fast data accessibility.
- Small & Medium Enterprises (SMEs) is anticipated to emerge as the fastest-growing segment from 2021 to 2028 due to high demand for cloud computing in SMEs owing to reduced costs of IT hardware and software, improved processing capacity and elasticity of storage, and greater mobility of access to data and service.
- The hybrid deployment segment is anticipated to register the second-fastest CAGR from 2021 to 2028 owing to the growth of cloud and industrialized services and decrease in traditional Data Center Outsourcing (DCO).
- Moreover, along with the flexibility to move workloads between private and public deployment depending on the computing needs, a hybrid deployment is expected to provide enterprises more data deployment options in the long run.
- The manufacturing end-use segment is expected to register the highest growth rate over the forecast period. Owing to various functionalities, cloud computing aids manufacturers in utilizing multiple types of production systems, ranging from High-Performance Computing (HPC) and 3D printing to IoT and industrial robots.
- Asia Pacific is expected to emerge as the fastest-growing regional market over the forecast period owing to the increasing focus of SMEs and large enterprises to enhance their digital initiatives.
- The growth in the IT services industry in markets, such as India, China, and other South Asian regions, is also expected to propel the regional market growth over the forecast period.
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Cloud Computing Market: Industry Outlook
3.1 Market Segmentation & Scope
3.2 Market Size & Growth Prospects
3.3 Cloud Computing Market – Value Chain Analysis
3.4 Cloud Computing Market Dynamics
3.4.1 Market driver analysis
184.108.40.206 Increased resource, user mobility, and ongoing migration of applications over the cloud
220.127.116.11 Increasing adoption of technologies such as artificial intelligence, machine learning, 5G, and IoT
3.4.2 Market challenge analysis
18.104.22.168 Data security and data privacy
3.5 Penetration and Growth Prospect Mapping
3.6 Cloud Computing Market – Competitive Insights, 2020
3.7 Market Analysis Tools
3.7.1 Cloud computing market – Porter’s five forces analysis
3.7.2 Cloud computing market – PESTEL analysis
3.8 Impact of COVID-19 on Cloud Computing Market
Chapter 4 Cloud Computing Market: Service Segment Analysis
4.1 Cloud Computing Market: By Service Segment Outlook & Market Share 2020 and 2028
4.2 Infrastructure as a Service (IaaS)
4.2.1 Infrastructure as a Service (IaaS) cloud computing market, 2018-2028
4.3 Platform as a Service (PaaS)
4.3.1 Platform as a Service (PaaS) cloud computing market, 2018-2028
4.4 Software as a Service (SaaS)
4.4.1 Software as a Service (SaaS) cloud computing market, 2018-2028
Chapter 5 Cloud Computing Market: Deployment Segment Analysis
5.1 Cloud Computing Market: By Deployment Segment Outlook & Market Share 2020 and 2028
5.2.1 Public cloud computing market, 2018-2028
5.3.1 Private cloud computing market, 2018-2028
5.4.1 Hybrid cloud computing market, 2018-2028
Chapter 6 Cloud Computing Market: Enterprise Size Segment Analysis
6.1 Cloud Computing Market: By Enterprise Size Segment Outlook & Market Share 2020 and 2028
6.2 Large Enterprises
6.2.1 Cloud computing market in large enterprise, 2018-2028
6.3 Small & Medium Enterprises
6.3.1 Cloud computing market in small & medium enterprise, 2018-2028
Chapter 7 Cloud Computing Market: End-use Segment Analysis
7.1 Cloud Computing Market: By End Use Segment Outlook & Market Share 2020 and 2028
7.2.1 Cloud computing market in BFSI, 2018-2028
7.3 IT & Telecom
7.3.1 Cloud computing market in IT & Telecom, 2018-2028
7.4 Retail & Consumer Goods
7.4.1 Cloud computing market in retail & consumer goods, 2018-2028
7.5.1 Cloud computing market in manufacturing, 2018-2028
7.6 Energy & Utilities
7.6.1 Cloud computing market in energy & utilities, 2018-2028
7.7.1 Cloud computing market in healthcare, 2018-2028
7.8 Media & Entertainment
7.8.1 Cloud computing market in media & entertainment, 2018-2028
7.9 Government & Public Sector
7.9.1 Cloud computing market in government & public sector, 2018-2028
7.10.1 Cloud computing market in other end use, 2018-2028
Chapter 8 Cloud Computing Market: Region Segment Analysis
Chapter 9 Competitive Landscape
9.1 Adobe Inc.
9.1.1 Company overview
9.1.2 Financial performance
9.1.3 Product benchmarking
9.1.4 Strategic initiatives
9.2 Alibaba Group Holding Limited.
9.2.1 Company overview
9.2.2 Financial performance
9.2.3 Product benchmarking
9.2.4 Strategic initiatives
9.3 Amazon.com Inc.
9.3.1 Company overview
9.3.2 Financial performance
9.3.3 Product benchmarking
9.3.4 Strategic initiatives
9.4 Google LLC.
9.4.1 Company overview
9.4.2 Financial performance
9.4.3 Product benchmarking
9.4.4 Strategic initiatives
9.5 International Business Machines Corporation
9.5.1 Company overview
9.5.2 Financial performance
9.5.3 Product benchmarking
9.5.4 Strategic initiatives
9.6 Microsoft Corporation
9.6.1 Company overview
9.6.2 Financial performance
9.6.3 Product benchmarking
9.6.4 Strategic initiatives
9.7 Oracle Corporation
9.7.1 Company overview
9.7.2 Financial performance
9.7.3 Product benchmarking
9.7.4 Strategic initiatives
9.8 Salesforce.com Inc.
9.8.1 Company overview
9.8.2 Financial performance
9.8.3 Product benchmarking
9.8.4 Strategic initiatives
9.9 SAP SE
9.9.1 Company overview
9.9.2 Financial performance
9.9.3 Product benchmarking
9.9.4 Strategic initiatives
9.10 Workday, Inc.
9.10.1 Company overview
9.10.2 Financial performance
9.10.3 Product benchmarking
9.10.4 Strategic initiatives
For more information about this report visit https://www.researchandmarkets.com/r/u3cfn7