The global cloud computing market is anticipated to grow at a substantial CAGR of 15.6% during the forecast period. Cloud computing involves the delivery of hosted services, such as software, servers, storage, analytics, intelligence, and networking over the internet. Cloud computing services are divided into three classes, such as Software-as-a-Service (SaaS), Infrastructure-as-a-Service (IaaS), and Platform-as-a-Service (PaaS). The major factors boosting the growth of the market include the rising adoption of cloud-based services and the rising number of small and medium enterprises across the globe. Growing adoption of the cloud platform is attributed to the faster deployment of new capabilities. Cloud-based platform is adopted by the enterprises across the globe as an effective medium for storing and management of the data. With the increasing amount of data generated through IoT, many enterprises have shifted their data to the cloud storage by choosing service providers such as Amazon Web Services, Microsoft Azure, and Google Cloud Platform.
Furthermore, in the European Union, the demand for cloud-based services among enterprises has been growing significantly. According to the Eurostat, 41 % of EU enterprises used cloud computing in 2021, mostly for e-mail and storage of files. Compared with 2020, the use of cloud computing in the EU increased particularly in the retail trade in 2021. New product developments and launches by market players are further aid in market growth. For instance, in December 2021, Kyndryl signed a new global strategic partnership with Google Cloud to bring a joint offering around artificial intelligence, data, and infrastructure modernization, as well as train the employees around Google technologies. The partnership aims to provide customers with cloud-based access to managed and scalable artificial intelligence and machine learning technologies. Moreover, kyndryl has achieved Google cloud premier partner status and run critical business systems on Google cloud infrastructure.
Impact of COVID-19 Pandemic on Global Cloud Computing Market
Due to the COVID-19 pandemic, there is a growth in the deployment of cloud computing in businesses to secure business progression and process optimization. Cloud computing and AI strategies aids to capture customers through digital channels, manage fragile, and complex supply chains, and support workers through disruption to their work and lives. Companies should focus on where they can get new insight rather than depending on lagging information.
Segmental Outlook
The global cloud computing market is segmented on the basis of deployment model, component, and vertical. Based on the deployment model, the market is segmented into private, public, and hybrid cloud. Based on the component, the market is further classified into hardware and software and services. Based on vertical, the market is further segmented into government, military & defense, BFSI, telecom & IT, healthcare, retail, and others (energy and utilities, media and entertainment). Based on deployment type, hybrid cloud segment to be a larger contributor to the cloud computing market growth during the forecast period. Increased user and resource mobility, ongoing migration of application over the cloud, and adoption of hybrid cloud computing model by end user industries such as healthcare, BFSI, and government, fueled the growth of the segment.
Global Cloud Computing Market Share by Deployment Type, 2021 (%)
The Public Cloud Segment is anticipated to Hold Prominent Share in the Global Cloud Computing Market
Public cloud is anticipated to hold the major share in the market in coming year. Public cloud services may be free or sold on-demand that enables customers to pay only according to per usage of central processing unit (CPU) cycles, bandwidth or storage they use. Therefore, public clouds can save companies from the high cost of buying, managing and maintaining on-premises hardware and application infrastructure. The providers of cloud service offer all management and maintenance of the system. It is deployed much faster as compared to on-premises infrastructure.
However, there are security concerns over public cloud environments which can be overcome by opting for a suitable cloud service provider. For instance, public cloud can be as secure as the potentially managed private cloud implementation in case of cloud service provider is using optimal security methods, including intrusion detection and prevention systems (IDPS). Due to cost-saving and scalable features, it is being widely adopted in SMEs and mid-size companies.
Regional Outlooks
The global cloud computing market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East &Africa, and Latin America). North America is anticipated to hold the largest share in the market in 2018 owing to the presence of major companies, such as Google LLC, IBM Corp., Microsoft Corp. and Amazon Web Services, Inc. in the region. These companies are generating significant revenue from cloud-based services. Rising penetration of large enterprises is further strengthening the growth of the market in the region.
Global Cloud Computing Market Growth, by Region 2021-2028
The North-America Region Holds a Major Share in Global Cloud Computing Market
The North American region is expected to hold highest market share of the global cloud computing market. Due to the presence of key market players, growing demand for 5 G-based data centers, and installation of hyper-scale data centers in the region, which boost the growth of the market over the forecast period. For instance, according to UNCTAD.org, enterprises will shut down their traditional data center by 2025 and move towards adopting co-location data centers and hyper-scale data centers. Co-location data centers are highly concentrated in developed countries such as US and Canada. In terms of hyper-scale data centers, the US held the leading position, accounting for 39% of a total 597 hyper-scale data centers by the end of 2020. Amazon, Microsoft, and Google collectively operate over half of all hyper-scale data centers.
Market Players Outlook
The major companies serving the global cloud computing market are IBM Corp., Google LLC, Microsoft Corp., Amazon Web Services, Inc. and SAP SE, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in January 2019, IBM and Vodafone announced to create a new venture aimed to enable companies across Europe and beyond, deliver innovation in the digital world. Through this agreement, IBM will provide managed services to Vodafone Business’s cloud and hosting unit in an eight-year deal valued at nearly $550 million. The customers will benefit from IBM's optimization, automation and cognitive capabilities which enable them to run their business effectively in a cloud environment.
The Report Covers
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
• Impact of COVID-19 on the Global Cloud Computing Market
• Recovery Scenario of Global Cloud Computing Market
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. BY Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.1.1. Amazon Web Services Inc.
3.1.1.1. Overview
3.1.1.2. Financial Analysis
3.1.1.3. SWOT Analysis
3.1.1.4. Recent Developments
3.1.2. Google LLC
3.1.2.1. Overview
3.1.2.2. Financial Analysis
3.1.2.3. SWOT Analysis
3.1.2.4. Recent Developments
3.1.3. IBM Corp.
3.1.3.1. Overview
3.1.3.2. Financial Analysis
3.1.3.3. SWOT Analysis
3.1.3.4. Recent Developments
3.1.4. Microsoft Corp.
3.1.4.1. Overview
3.1.4.2. Financial Analysis
3.1.4.3. SWOT Analysis
3.1.4.4. Recent Developments
3.1.5. SAP SE
3.1.5.1. Overview
3.1.5.2. Financial Analysis
3.1.5.3. SWOT Analysis
3.1.5.4. Recent Developments
3.2. Key Strategy Analysis
3.3. Impact of Covid-19 on Key Players
4. Market Determinants
4.1. Motivators
4.2. Restraints
4.3. Opportunities
5. Market Segmentation
5.1. Global Cloud Computing Market, by Deployment Model
5.1.1. Private Cloud
5.1.2. Public Cloud
5.1.3. Hybrid Cloud
5.2. Global Cloud Computing Market, by Component
5.2.1. Hardware
5.2.2. Software
5.2.3. Services
5.3. Global Cloud Computing Market, by Vertical
5.3.1. Government
5.3.2. Military & Defense
5.3.3. BFSI
5.3.4. Telecom & IT
5.3.5. Healthcare
5.3.6. Retail
5.3.7. Others (Energy and Utilities, Media and Entertainment)
6. Regional Analysis
6.1. North America
6.1.1. United States
6.1.2. Canada
6.2. Europe
6.2.1. UK
6.2.2. Germany
6.2.3. Italy
6.2.4. Spain
6.2.5. France
6.2.6. Rest of Europe
6.3. Asia-Pacific
6.3.1. China
6.3.2. India
6.3.3. Japan
6.3.4. South Korea
6.3.5. Rest of Asia-Pacific
6.4. Rest of the World
7. Company Profiles
7.1. Accenture PLC
7.2. Adobe Inc.
7.3. Akamai Technologies, Inc.
7.4. Alibaba Cloud International
7.5. Amazon Web Services, Inc.
7.6. Apple, Inc.
7.7. AT&T, Inc.
7.8. CenturyLink, Inc.
7.9. Cisco Systems, Inc.
7.10. Citrix Systems, Inc.
7.11. Dell, Inc.
7.12. Druva, Inc.
7.13. Faction, Inc.
7.14. Google LLC
7.15. Hewlett Packard Enterprise Development LP
7.16. IBM Corp.
7.17. Intel Corp.
7.18. Internap Corp.
7.19. Microsoft Corp.
7.20. NetSuite, Inc.
7.21. Oracle Corp.
7.22. PhoenixNAP LLC
7.23. Rackspace US, INC.
7.24. Salesforce inc.
7.25. SAP SE
7.26. ServiceNow, Inc.
7.27. SingleHop, LLC
7.28. Verizon Enterprise Solutions
7.29. Webscale Networks, Inc.
7.30. Yahoo, Inc.
7.31. Zerto, Inc.
1. GLOBAL CLOUD COMPUTING MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT MODEL, 2021-2028($ MILLION)
2. GLOBAL PRIVATE CLOUD COMPUTING MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028($ MILLION)
3. GLOBAL PUBLIC CLOUD COMPUTING MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028($ MILLION)
4. GLOBAL HYBRID CLOUD COMPUTING MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028($ MILLION)
5. GLOBAL CLOUD COMPUTING MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2021-2028($ MILLION)
6. GLOBAL CLOUD COMPUTING HARDWARE MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028($ MILLION)
7. GLOBAL CLOUD COMPUTING SOFTWARE AND SERVICES MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028($ MILLION)
8. GLOBAL CLOUD COMPUTING MARKET RESEARCH AND ANALYSIS BY VERTICAL, 2021-2028($ MILLION)
9. GLOBAL CLOUD COMPUTING IN GOVERNMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028($ MILLION)
10. GLOBAL CLOUD COMPUTING IN MILITARY & DEFENSE MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028($ MILLION)
11. GLOBAL CLOUD COMPUTING IN BFSI MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028($ MILLION)
12. GLOBAL CLOUD COMPUTING IN TELECOM & IT MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028($ MILLION)
13. GLOBAL CLOUD COMPUTING IN HEALTHCARE MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028($ MILLION)
14. GLOBAL CLOUD COMPUTING IN RETAIL MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028($ MILLION)
15. GLOBAL CLOUD COMPUTING IN OTHERS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028($ MILLION)
16. GLOBAL CLOUD COMPUTING MARKET RESEARCH AND ANALYSIS BY GEOGRAPHY, 2021-2028($ MILLION)
17. NORTH AMERICAN CLOUD COMPUTING MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028($ MILLION)
18. NORTH AMERICAN CLOUD COMPUTING MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT MODEL, 2021-2028($ MILLION)
19. NORTH AMERICAN CLOUD COMPUTING MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2021-2028($ MILLION)
20. NORTH AMERICAN CLOUD COMPUTING MARKET RESEARCH AND ANALYSIS BY VERTICAL, 2021-2028($ MILLION)
21. EUROPEAN CLOUD COMPUTING MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028($ MILLION)
22. EUROPEAN CLOUD COMPUTING MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT MODEL, 2021-2028($ MILLION)
23. EUROPEAN CLOUD COMPUTING MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2021-2028($ MILLION)
24. EUROPEAN CLOUD COMPUTING MARKET RESEARCH AND ANALYSIS BY VERTICAL, 2021-2028($ MILLION)
25. ASIA-PACIFIC CLOUD COMPUTING MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028($ MILLION)
26. ASIA-PACIFIC CLOUD COMPUTING MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT MODEL, 2021-2028($ MILLION)
27. ASIA-PACIFIC CLOUD COMPUTING MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2021-2028($ MILLION)
28. ASIA-PACIFIC CLOUD COMPUTING MARKET RESEARCH AND ANALYSIS BY VERTICAL, 2021-2028($ MILLION)
29. REST OF THE WORLD CLOUD COMPUTING MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT MODEL, 2021-2028($ MILLION)
30. REST OF THE WORLD CLOUD COMPUTING MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2021-2028($ MILLION)
31. REST OF THE WORLD CLOUD COMPUTING MARKET RESEARCH AND ANALYSIS BY VERTICAL, 2021-2028($ MILLION)
1. IMPACT OF COVID-19 ON GLOBAL CLOUD COMPUTING MARKET, 2021-2028 ($ MILLION)
2. IMPACT OF COVID-19 ON GLOBAL CLOUD COMPUTING MARKET BY SEGMENT, 2021-2028 ($ MILLION)
3. RECOVERY OF GLOBAL CLOUD COMPUTING MARKET, 2021-2028 (%)
4. GLOBAL CLOUD COMPUTING MARKET SHARE BY DEPLOYMENT MODEL, 2021 VS 2028 (%)
5. GLOBAL PRIVATE CLOUD COMPUTING MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
6. GLOBAL PUBLIC CLOUD COMPUTING MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
7. GLOBAL HYBRID CLOUD COMPUTING MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
8. GLOBAL CLOUD COMPUTING MARKET SHARE BY COMPONENT, 2021 VS 2028 (%)
9. GLOBAL CLOUD COMPUTING HARDWARE MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
10. GLOBAL CLOUD COMPUTING SOFTWARE AND SOLUTION MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
11. GLOBAL CLOUD COMPUTING MARKET SHARE BY VERTICAL, 2021 VS 2028 (%)
12. GLOBAL CLOUD COMPUTING IN GOVERNMENT MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
13. GLOBAL CLOUD COMPUTING IN MILITARY AND DEFENSE MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
14. GLOBAL CLOUD COMPUTING IN BFSI MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
15. GLOBAL CLOUD COMPUTING IN TELECOM AND IT MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
16. GLOBAL CLOUD COMPUTING IN HEALTHCARE MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
17. GLOBAL CLOUD COMPUTING IN RETAIL MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
18. GLOBAL CLOUD COMPUTING IN OTHERS (ENERGY AND UTILITIES, MEDIA AND ENTERTAINMENT) MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
19. US CLOUD COMPUTING MARKET SIZE, 2021-2028 ($ MILLION)
20. CANADA CLOUD COMPUTING MARKET SIZE, 2021-2028 ($ MILLION)
21. UK CLOUD COMPUTING MARKET SIZE, 2021-2028 ($ MILLION)
22. FRANCE CLOUD COMPUTING MARKET SIZE, 2021-2028 ($ MILLION)
23. GERMANY CLOUD COMPUTING MARKET SIZE, 2021-2028 ($ MILLION)
24. ITALY CLOUD COMPUTING MARKET SIZE, 2021-2028 ($ MILLION)
25. SPAIN CLOUD COMPUTING MARKET SIZE, 2021-2028 ($ MILLION)
26. REST OF EUROPE CLOUD COMPUTING MARKET SIZE, 2021-2028 ($ MILLION)
27. INDIA CLOUD COMPUTING MARKET SIZE, 2021-2028 ($ MILLION)
28. CHINA CLOUD COMPUTING MARKET SIZE, 2021-2028 ($ MILLION)
29. JAPAN CLOUD COMPUTING MARKET SIZE, 2021-2028 ($ MILLION)
30. SOUTH KOREA CLOUD COMPUTING MARKET SIZE, 2021-2028 ($ MILLION)
31. REST OF ASIA-PACIFIC CLOUD COMPUTING MARKET SIZE, 2021-2028 ($ MILLION)
32. REST OF THE WORLD CLOUD COMPUTING MARKET SIZE, 2021-2028 ($ MILLION)