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Global Cloud Computing Market Analysis and Forecast 2016-2024 | Industry Growth Opportunities

  • ID : 9943168  |  
  • Published : Oct-2017  |  
  • Region : Global  |  
  • Pages : 285   |  
  • Publisher : Goldstein Research

Cloud Computing Market Overview, Size and Growth Rate:

The global cloud services market share was valued at USD 105 billion in 2016 and is expected to reach USD 408.3 billion by 2024, growing at a CAGR of 18.5% during the forecast period. Cloud computing is the practice of sharing a network of remote servers, which are hosted on the internet to store, process, share, and manage data rather than on a local server or a personal computer. It specifically refers to a common storage space through which all the devices in the network can access data simultaneously. The use of cloud computing technology not only provides cost benefits but also makes data accessible to all devices in the network at any time and from any location. The cloud storage is a practice of storing data on shared remote servers that are hosted through the internet instead of the conventional local servers or personal computers. In a cloud environment, the servers can be accessed by all the devices that are in the network through a secure gateway.

Cloud Computing Market - Growth Drivers:

The most important factor, which is driving the market, is the cost-effectiveness. With the deployment of cloud computing services, organizations can save more than 35% of the annual operating costs. The other factor includes all the functional capabilities, which boost up the business performances of the organizations. In addition, a substantial increase in the number of small and medium enterprises will eventually lead to the increased adoption of cloud services. The adoption of Public and hybrid models of the cloud is relatively limited due to the threat of data breaches and data leakages. The information that is stored in these clouds can be accessed by the subscribers, such information, therefore, can be easily breached and misused. Solving the security issues would, therefore, be of utmost importance. The securitization of these stored data is extremely important as this factor can affect the market adversely if the problem persists.

Cloud Computing Market - Geographical Insights:

North America is the dominating region for the global cloud computing market in 2016 followed by Europe and is projected to dominate over the forecast period. Presence of leading cloud tech companies in the U.S. companies with high levels of expertise is providing a competitive advantage to the dominance of the North America region in the cloud computing market. Canada is one of the major markets for U.S. computing services exports. In 2014, U.S. based cloud tech companies exported cloud computing services worth USD 4.4 billion to Canada.

Asia-Pacific and Latin America are the fastest growing regions for the global cloud computing market. Brazil cloud computing market valued around USD 1 billion in 2016, owing to the wide adoption of cloud services for enterprise resource planning or customer relationship management by Brazilian IT companies. Cloud computing technology is becoming a strategic priority in countries such as Australia, China, India, Japan, and South Korea are supporting the growth of the cloud computing market in the Asia-Pacific region.

Detailed Segmentation of the Global Cloud Computing Market:

Cloud Computing Market - Based on Mode of Deployment

  • Public Cloud
  • Private Cloud
  • Hybrid Cloud

Cloud Computing Market -- Based on Cloud Service

  • Infrastructure as a service (IaaS)
  • Platform as a service (PaaS)
  • Software as a service (SaaS)

Cloud Computing Market - By End Users

  • Manufacturing Sector
  • Banking & Finance Service Sector
  • Government Sector
  • Private Organizations
  • Healthcare Sectors
  • Consumer Electronics
  • Other Sectors (Education)

Cloud Computing Market - Based on Geography

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East
  • Africa
  • Rest of the world

List of key companies operating in the Global Cloud Computing Market profiled in the report are:

  • Amazon Web Services

    • Synopsis
    • Business Strategy
    • Product Portfolio
    • SWOT Analysis

  • Microsoft Corporation
  • IBM Corporation
  • Cisco Systems Inc.
  • Rackspace
  • VMware
  • Oracle
  • General Electric
  • Google Inc.
  • Akamai
  • Fujitsu Ltd.
  • Red Hat
  • HP
  • NTT Data Corporation
  • SAP
  • Dell Inc.
  • Caspio Inc.
  • Skytap
  • Accenture
  • Capgemini
  • Flexiant Ltd.
  • CA Technologies Inc.

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