-- Market Overview
An immensely attractive market for cloud computing service providers, several organizations across industries are progressively adopting cloud computing services globally. Basis the research report, the Cloud Computing market will register a 30.3% CAGR in terms of revenue over the next five years. Increased adoption of hybrid cloud services is also expected to provide the much-needed fillip to the cloud computing market along with growth opportunities for key market players.
Cloud Computing is an IT service delivery model where third-party service providers offer software tools and computing resources through the internet. Cloud Computing offers several advantages such as on-premise hardware infrastructure such as quicker deployment mobility support, disaster recovery and less burden on IT staff professionals to maintain the systems. One of the key factors driving the cloud computing market is the rising BYOD trend. Cloud Computing vendors offer 3 basic deployment models, namely public, private and hybrid cloud. Among the three, Hybrid Cloud is gaining popularity owing to the flexibility associated with its management of costs, security and customer demand.
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The cloud computing services are rapidly being adopted specifically in the small and medium enterprises. Due to the ease and flexibility that it offers, in addition to seamless scalability, pay-as-you-go payment model, reduced operational costs and customized offerings as per business requirements, these benefits are facilitating the adoption of cloud services among SMEs. The major industries of cloud computing covered in this research study includes banking, financial services, insurance, healthcare and life sciences, media and entertainment, energy and utilities, IT and telecommunication, government and public sector, and others.
Market Segmentation
The cloud computing services market is segmented broadly by Type and Application.
By Type, the market is split into:
Infrastructure as a service (IaaS)
Platform as a Service (PaaS)
Software as a Service (SaaS)
By Application, the market is split into:
Government
Small and Medium sized enterprises
Large enterprises
The report aims at studying and analysing the world Cloud Computing market size by product type and application, key regions/countries and history data that ranges from 2014 to 2018, and forecast to 2024.
Regional Analysis
Geographically, the Cloud Computing market spans across key regions that include North America (US, Canada); Europe (UK, France, Germany, Rest of Europe); APAC (China, Japan, Australia and New Zealand (ANZ), Rest of APAC); MEA (Kingdom of Saudi Arabia (KSA), South Africa, United Arab Emirates (UAE), Rest of MEA) and Latin America (Brazil, Mexico and Rest of Latin America).
APAC markets are projected to provide significant growth opportunities during the assessment period. Keen focus of SMEs and large enterprises to enter and grow in this region and increased availability of skilled labour are factors driving the popularity of Cloud Computing market. Coupled with digital initiatives by big organizations, public cloud services have gained immense traction in APAC. To achieve greater business agility and satisfy customers, cloud computing has become the core focus of business operations of modern organizations nowadays. Businesses are working on optimizing both application performance and ensuring good customer experience.
Industry News
In January 2019, Alibaba Cloud launched its second data centre in Indonesia. The company aimed at doubling its local capacity. Both data centres would offer high availability and advanced DR capabilities to their customers. These data centres offer a comprehensive suite of products and services, such as, database, networking, elastic computing, storage, security, and middleware. Customers can easily deploy mission-critical workloads in multiple availability zones and switch over quickly with the help of these data centres.
Table of Contents
1 Scope of the Report
2 Executive Summary
3 Global Virtual Workspaces Software by Key Players
4 Virtual Workspaces Software by Regions
5 Americas
6 APAC
7 Europe
8 Middle East & Africa
9 Market Drivers, Challenges and Trends
10 Global Virtual Workspaces Software Market Forecast
11 Key Players Analysis
12 Research Findings and Conclusion
……Continued
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