Public Cloud Market Share, Analysis, Opportunities, Emerging Trends, Competitive Landscape and Potential of the Industry 2023
Research Reports
Jan 05, 2021
Market Research Future published a research report on “Public Cloud Market Research Report – Global Forecast to 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
Market Scope
The global public cloud market is anticipated to gain revenues worth USD 1,132.88 billion by 2023, suggests Market Research Future (MRFR). MRFR adds that the market can achieve a striking growth rate of 22.78% during the forecast period (2017-2023).
Market Boosters and Top Barriers
Cloud services are gaining immense popularity across many industry verticals. This offers an exclusive opportunity to small & medium size organizations (SMEs), which make extensive use of a variety of cloud services. Moreover, cloud services enjoy more demand than hardware installation, since these services help attain a high level of data protection and provides a broad scope for data recovery.
At present, several IT companies across the globe are making substantial investments in cloud services on account of the growing generation of heterogeneous data that is stored and managed on the public cloud. Soaring demand for Infrastructure-as-a-Service (IaaS) across IT industries, given the surging volumes of business & financial data along with the data associated with complex information in different verticals, is helping the Public Cloud Market advance at a fast pace. Additionally, numerous enterprises are now using public cloud services to conveniently implement and access platform solutions like data analytics, the Internet of Things (IoT) and big data, shaping the worldwide market positively.
The public cloud market can gain immense momentum in the years ahead, thanks to the rising integration of cloud platform with IoT. This type of integration is expected to help enterprises improve their operations by boosting business agility as well as strategic decision making. Therefore, the combination of cloud platform and IoT technology is expected to stimulate the growth of the public cloud market during the review period.
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Key Players:
The key players in the global public cloud market include Amazon.com Inc. (USA), Cisco Systems Inc. (USA), Fujitsu Limited (Japan), Google Inc. (USA), Hewlett-Packard Enterprise (USA), International Business Machines Corporation {IBM (USA)}, Microsoft Corporation (USA), Oracle Corporation (USA), Salesforce.com (USA), and VMware Inc. (USA).
Segmentation:
The worldwide public cloud market has been studied, taking into account segments like basis of service, cloud computing, industry, and organization size.
Service-wise, the market includes SaaS, IaaS, and PaaS. Software as a service (SaaS) was identified as the leading segment in the market in 2017 and is most likely to grow at the fastest rate of 22.53% in the coming years.
The cloud computing segment comprises cloud billing, cloud communication platform, cloud access security, cloud high-performance computing, and cloud infrastructure. The leading segment, among these, is cloud infrastructure that can attain a CAGR of 23.98 percent in the following years.
Organization sizes enlisted in the report are small, medium enterprises and large enterprises. Large enterprises had been the leading segment in 2017 and it has the potential to achieve a healthy CAGR of 21.22% in the coming years.
The industry-based segments are BFSI, manufacturing, retail, healthcare, IT & telecommunication, aerospace and defense, government, and others. The BFSI segment had garnered the top spot in the market in 2017 and can possibly obtain a high CAGR of 23.44 percent during the evaluation period.
Regional Analysis:
Europe, North America, Asia Pacific (APAC), and Rest of the World (RoW) are the primary regions based on which the global public cloud market has been analyzed by MRFR.
North America is the prime market for public cloud, owing to the rising adoption of smart devices and bring your own device (BYOD) that have reduced implementation costs. The United States (U.S.) market was worth USD 148.71 Billion in 2017 and there is a high possibility of it achieving a CAGR of 22.01% during the review period. In addition, rising government support for expansion of public cloud in the region is expected to stimulate market growth in the coming years.
Europe is touted to be the second most profitable market for public cloud. The United Kingdom (U.K.) market value in 2017 was USD 27.14 Billion and is presumed to achieve the fastest growing CAGR of 25.07% during the forecast period. The strong government support for installation of public cloud infrastructure across the region helps with market growth. Surging use of 5G connectivity along with the increasing reliance on mobile apps for transactions can elevate adoption rate of public cloud systems in the region.
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Intended Audience
- Cloud providers
- MES (Manufacturing Execution System) and MOM (Manufacturing Operations Management) Players
- System Integrators
- Government Organizations
- Research/Consultancy firms
About Us:
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.
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