Cloud Computing Market Growth, Industry Overview, Competitive Analysis, Key Players Review and Forecast To 2027 | Coronavirus Effects

 Market Highlights

Cloud computing refers to networking, storage, servers, and computing services offered through data centers and the internet. It can be leveraged by small and medium sized enterprises to fuel innovation without investments on hardware and software. The global cloud computing market report by Market Research Future (MRFR) encompasses drivers, challenges, trends, and restraints for the industry during the forecast period (2020-2027). The COVID-19 outbreak and its effects on the industry make up a major part of the report.

Market Scope

The global cloud computing market is set to exhibit 19.4% CAGR over the forecast period. It is attributed to flexibility and scalability accorded to individuals and organizations owing to its implementation. Increasing maintenance costs of hosting, workforce charges, and shift towards digital channels can drive market growth. Use of cloud computing by enterprises for curbing operational expenditure can bode well for the market.

The COVID-19 outbreak has accelerated the shift to digital models and propelled the market demand. Government regulations and increased spending on cloud computing can favor the market. Rollout of novel subscription programs by cloud service providers for smooth onboarding of clients coupled with transparency and pricing in their business models can bode well for the cloud computing market.

But rise in cyberattacks and compliance to data security and privacy regulations can restrict market growth.

Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/1013

Segmentation:

By service model, the SaaS segment to attain the highest share owing to preference of external service providers by large companies for hosting their services. The move by enterprises to shift their applications to the cloud can favor the segment.

By deployment mode, the public cloud segment can capture the highest share over the assessment period. This is credited to scalability of cloud and control over data centers.

The public cloud segment captured the largest market share in 2018, and it is expected to post a CAGR of 20% during the forecast period.

By organization size, the large enterprise segment to lead the market and post 19% CAGR over the forecast period. Low operational expenditure, fast product to market, increased flexibility and collaboration can drive the demand for cloud computing in the segment.

By vertical, the BFSI segment to post the highest CAGR of 18.6% during the forecast period. This is attributed to use of cloud computing resources by companies to cater to customer data management and digitization of wealth. Services such as mobile wallets, online transactions, and omnichannel experiences can drive the integration of cloud in the sector.

Regional Analysis

North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW) are major regions covered in the cloud computing market.

North America is touted to lead the market owing to demand for stable internet connectivity and stable working conditions for employees. Commitment by cloud service providers such as Cisco, Amazon, Microsoft, IBM, Google, and others for offering storage services and infrastructure to enterprises and individuals.

APAC is likely to showcase a strong growth rate during the forecast period owing to shift to digitalization of data and data protection demands of countries of India and China. Adoption of cloud by healthcare organizations during the pandemic to scale their operations and cater to storage requirements due to large influx of patients can drive the regional market demand. The move by corporations to move their data to the cloud can spur the market demand. This is exemplified by announcement of telecommunication providers such as Smart, Dialog, Celcom, XL Axiata, Robi, and Ncell planning to move their services to Google cloud for modernizing their infrastructure.

Competition Analysis

Salesforce.com, Inc., Amazon.com Inc., Alibaba Group Holding Ltd., Cisco Systems, Inc., Rackspace Inc., Oracle Corporation, Microsoft Corporation, TIBCO Software Inc., SAS Institute Inc, VMware, Inc., Dell EMC Corp., SAP SE, IBM Corporation, Alphabet Inc., and Adobe Systems Inc. are key players of the cloud computing market. Players are differentiating their products and services on the basis of price, ease of use, and support. Rise of multi-cloud strategies is likely to lead to innovation among players.

Industry news

The Pentagon, house of the U.S. Department of Defense, is considering a move to cloud computing to move to highly secure architecture and enable communications with soldiers on battlefields.

Browse Complete Report @ https://www.marketresearchfuture.com/reports/cloud-computing-market-1013

Cloud Computing Market Research Report: By Service Model (SaaS, PaaS IaaS), By Deployment (Public, Private and Hybrid), By Organization Size (Large Enterprises, Small & Medium Enterprises), By Vertical (BFSI, IT & Telecommunication, Retail and Consumer Goods, Manufacturing, Healthcare & Life Sciences, Government & Public Sector, Media & Entertainment, Energy & Utility and others) - Forecast till 2027

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

Contact:                                                                                    

Market Research Future

+1 646 845 9312

Email: sales@marketresearchfuture.com

Comments

Post a Comment

Popular posts from this blog

IT Asset Management Software Market Share, Growth Factors, Comprehensive Research, Analysis by Leading Companies with Forecast till 2027 | Coronavirus Effects

  Market Highlights The IT assets include the hardware component as well as the software component. IT asset management software has a prominent role in the growth strategy of an enterprise. It helps the senior level management to make accurate purchase decisions. IT asset management is also referred to as IT inventory management as it largely involves the collection of information, regarding hardware and software used in an organization. The IT asset management software market is estimated to reach a valuation of USD 3 Bn towards the end of 2023. The software has developed a significant role in devising growth strategies of enterprises which is likely to accelerate its adoption over the next couple of years. Additionally, the reduced cost of software licensing by relocating non-utilized resources is expected to fuel the growth of the market. IT asset management can be categorized as hardware asset management, digital asset management, and software asset management. Get a F...
Read more

Intelligent Railway Transport System Market Key Findings, Regional Analysis, Top Key Players, Profiles and Future Prospects | Impact of COVID-19

  Market Scenario: The intelligent railway transport system facilitates the use of information technology for managing the services provided by the railways. The railway relies on the radio network and the GPS system for effective implementation of intelligent transport system. The intelligent railway transport system market is majorly driven by its ability of providing high security for the passengers and the high service quality to the customers. The market will also grow with the increase in adoptions of internet of things technology in the railway system. The increasing trend of internet services is contributing in the growth of Intelligent Railway Transport System Market. The increasing use of rail transport among all modes of transportation has created an effective and timely management of services among others such as scheduling of trains. Whereas, the increased need for adoption of intelligent transport system in railways has made this possible and hence has increased the...
Read more

Network Slicing Market Research Report- Forecast till 2026

  Market Highlights The global network slicing market is projected to reach USD 1,936.67 million by 2026, registering a CAGR of 51.48% during the forecast period. In this report, Market Research Future (MRFR) includes the segmentation and dynamics of the network slicing market to offer a better glimpse into the coming years Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/10624 Segmentation: The global network slicing market has been segmented based on component, end user, application, and region Based on component, the global network slicing market has been segmented into solution and services. The services segment is further sub-divided into professional and managed services. The solution segment is expected to account for a significant market share over the projected period. The increasing adoption of network slicing solutions in the market for delivering high-speed network coverage services across various end users contributes to the growth of...
Read more