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Cloud Computing Market Insights

Cloud Computing Market size was valued at USD 677.96 Billion in 2023 and is projected to reach USD 2,432.88 Billion by 2030, growing at a CAGR of 20.1% during the forecasted period 2024 to 2030.

The way that organizations and individuals access, store, process, and manage data and applications is being completely revolutionized by cloud computing, a dynamic and disruptive paradigm in information technology. With the help of an extensive ecosystem of online services, users can access computing resources whenever they need them without having to make large infrastructure investments thanks to the cloud computing market. Fundamentally, cloud computing is defined by the provision of computing services as virtualized and scalable resources, encompassing software, processing power, storage, and so forth. Cloud service providers (CSPs) offer these services via a dispersed server network, which guarantees cost-effectiveness, high availability, and flexibility. Platform as a Service (PaaS), Software as a Service (SaaS), and Infrastructure as a Service (IaaS) are the three market segments that each serve different user needs. In a professional setting, cloud computing enables businesses to attain scalability, agility, and operational efficiency. It makes it easier for companies to outsource their IT infrastructure and services, freeing them up to concentrate on their core skills and leave the headaches of software updates and hardware maintenance to experts. Furthermore, cost optimization is guaranteed by the pay-as-you-go pricing model that is widely used in the cloud computing industry, where users only pay for the resources they actually use.

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Cloud Computing Market Trends

Cloud computing is undergoing dynamic changes due to changing business requirements and technology breakthroughs. The adoption of edge computing is on the rise, green cloud initiatives are emphasizing sustainability, and hybrid and multi-cloud strategies are putting more of an emphasis on maximizing performance and flexibility. These developments highlight the sector's adaptability and resilience in addressing the demands of a digital landscape that is changing quickly.

Hybrid and multi-cloud cloud strategies are becoming more popular

Multi-cloud and hybrid cloud strategies are becoming more and more popular among organizations as a way to maximize IT infrastructure efficiency and increase flexibility. The necessity to take advantage of the best-in-class services from several cloud providers, lessen vendor lock-in, and abide by data sovereignty laws is what's driving this trend. Because of this, companies are spending money on devices and software that make it easier to manage and integrate various cloud environments.

Edge Computings Growing Adoption

By bringing cloud computing capabilities closer to the point of data generation and consumption, edge computing allows for lower latency, faster data processing, and less bandwidth usage. In sectors where real-time data analysis and decision-making are critical, like manufacturing, healthcare, and the Internet of Things, this trend is especially pertinent. Businesses are implementing edge computing solutions to boost customer satisfaction, increase operational effectiveness, and extract insights from edge data.

The Growing Significance of Machine Learning and Artificial Intelligence (ML)

The cloud computing landscape is changing due to AI and ML, which allow businesses to build intelligent applications, automate tasks, and extract insights from data. Cloud-based AI and ML services are being used by businesses to boost innovation, streamline processes, and provide better customer service. Cloud computing is going to become even more important in helping AI and ML get adopted and used as these technologies develop.

Cloud Computing Market Scope Of the Report

This report offers past, present as well as future analysis and estimates for the Cloud Computing Market. The market estimates that are provided in the report are calculated through an exhaustive research methodology. The research methodology that is adopted involves multiple channels of research, such as – primary research, secondary research, and subject-related expert advice. The market estimates are calculated based on the influence of the current market dynamics along with various economic, social, and political factors on the Cloud Computing Market. Also, various regulations, government spending, and research and development growth define the market data. Both positive, as well as negative changes to the market, are taken into consideration for the market estimates.

Cloud Computing Market Competitive Landscape & Company Profiles

The market report lists the major players involved in the Cloud Computing Market under the competitive landscape and company profile chapters. The major players in the market are evaluated based on their product and/or service offerings, financial statements, key developments, strategic approach to the market, position in the market, geographical penetration, and other key features. The chapter also highlights the strengths, weaknesses, opportunities, and threats (SWOT analysis), winning imperatives, current focus and strategies, and threats from competition for the top three to five players in the market. Furthermore, the list of companies included in the market study can also be customized as per the client’s requirements. The competitive landscape section of the report covers details in terms of the top five company’s ranking, key developments such as recent developments, partnerships, mergers and acquisitions, new product launches, etc., the company’s regional footprint, and company industry footprint as per the market and Ace matrix.

Company Regional Footprint

This section provides geographical or regional level reach or their sales network presence for each of company’s considered for profiling.

Company Industry Footprint

This section provides the cross-analysis of industry verticals and market players that gives a clear picture of the company landscape with respect to the industries they are serving their products and services.

Ace Matrix

This section provides company benchmarking into Active, Cutting Edge, Innovator, and Emerging based on their product and business strategy. In Which, product strategy includes parameters such as Breadth & Depth of Product, Focus on Product Innovation, Product features & functions, Scalability whereas business strategy includes parameters such as geographical reach, Industry Coverage, Inorganic Growth, and Roadmap.

Top Cloud Computing Market Companies

The Cloud Computing Market Report delivers an in-depth analysis of leading and emerging players in the market. The Report provides comprehensive lists of key companies which have been enlisted on the basis of type of products they are offering & other factors in Market. Among company profiling market analysis, the analysts who worked on the report gave the year of market entry for each mentioned player can be considered for the research analysis.

The “Global Cloud Computing Market” study report will provide a valuable insight with an emphasis on the global market including some of the Top Cloud Computing Market Companies such as Amazon Web Services, Microsoft Azure, IBM, Aliyun, Google Cloud Platform, Salesforce, Rackspace, SAP, Oracle, Vmware, DELL, EMC. 

Cloud Computing Market Segmentation

By Type

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

By Application

  • Government
  • Small and Medium sized enterprises
  • Large enterprises

By Geography

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • Latin America

Cloud Computing Market Report Coverage

Research Methodology

The qualitative and quantitative data of the Cloud Computing Market is prepared through various research considerations such as subject matter expert advice, primary and secondary research. Primary research leverages valuable information from face-to-face and/or telephonic interviews and surveys, questionnaires, industry expert opinion, KOLs, customers, and others. Primary interviews are conducted regularly with industry experts to create in-depth expert information on the market and to substantiate the existing analysis of the data. Secondary research done by Verified Market Reports research team through various sources such as
  • Company websites, annual reports, financial reports, investor presentations and SEC filings
  • Internal and external proprietary databases, relevant patent, and regulatory databases
  • National government documents, statistical databases, and market reports
  • News articles, press releases and web-casts specific to the companies operating in the market
  • Paid database
Verified Market Reports contacted various key opinion leaders from the same industry, who are top and mid-level executives from top companies as well as executives (marketing heads, regional heads) from End users to collect information/data such as the dominance of particular brand in each country as well as overall region, pricing of services and products. The data for total sales was determined through primary research in each of the countries by interviewing key opinion leaders which included insights from
  • C-Level Executives
  • Marketing Manager, Brand Manager, Product Manager
  • Sales Manager, Sales Officer, Regional Sales Manager, Country Manager
  • Procurement Manager
  • Production Manager
  • Technical Personnel
  • Distributors
The subject matter experts act as a key link to validate and substantiate the key research findings and understandings as the experts have acquired extensive experience in the market over the years. Secondary research data for the Cloud Computing Market are collected from the internet, printed documents (company annual reports and research papers) related to the industry, industrial magazines, association findings, government websites, and others. These multiple information sources provide a key outline of the market.
  1. Introduction of Cloud Computing Market
    1. Market Definition
    2. Market Segmentation
    3. Research Timelines
    4. Assumptions
    5. Limitations
  2. *This section outlines the product definition, assumptions and limitations considered while forecasting the market.
  3. Research Methodology
    1. Data Mining
    2. Secondary Research
    3. Primary Research
    4. Subject Matter Expert Advice
    5. Quality Check
    6. Final Review
    7. Data Triangulation
    8. Bottom-Up Approach
    9. Top-Down Approach
    10. Research Flow
  4. *This section highlights the detailed research methodology adopted while estimating the overall market helping clients understand the overall approach for market sizing.
  5. Executive Summary
    1. Market Overview
    2. Ecology Mapping
    3. Primary Research
    4. Absolute Market Opportunity
    5. Market Attractiveness
    6. Cloud Computing Market Geographical Analysis (CAGR %)
    7. Cloud Computing Market by Type USD Million
    8. Cloud Computing Market by Application USD Million
    9. Future Market Opportunities
    10. Product Lifeline
    11. Key Insights from Industry Experts
    12. Data Sources
  6. *This section covers comprehensive summary of the global market giving some quick pointers for corporate presentations.
  7. Cloud Computing Market Outlook
    1. Cloud Computing Market Evolution
    2. Market Drivers
      1. Driver 1
      2. Driver 2
    3. Market Restraints
      1. Restraint 1
      2. Restraint 2
    4. Market Opportunities
      1. Opportunity 1
      2. Opportunity 2
    5. Market Trends
      1. Trend 1
      2. Trend 2
    6. Porter's Five Forces Analysis
    7. Value Chain Analysis
    8. Pricing Analysis
    9. Macroeconomic Analysis
    10. Regulatory Framework
  8. *This section highlights the growth factors market opportunities, white spaces, market dynamics Value Chain Analysis, Porter's Five Forces Analysis, Pricing Analysis and Macroeconomic Analysis
  9. by Type
    1. Overview
    2. Infrastructure as a service (IaaS)
    3. Platform as a Service (PaaS)
    4. Software as a Service (SaaS)
  10. by Application
    1. Overview
    2. Government
    3. Small and Medium sized enterprises
    4. Large enterprises
  11. Cloud Computing Market by Geography
    1. Overview
    2. North America Market Estimates & Forecast 2021 - 2031 (USD Million)
      1. U.S.
      2. Canada
      3. Mexico
    3. Europe Market Estimates & Forecast 2021 - 2031 (USD Million)
      1. Germany
      2. United Kingdom
      3. France
      4. Italy
      5. Spain
      6. Rest of Europe
    4. Asia Pacific Market Estimates & Forecast 2021 - 2031 (USD Million)
      1. China
      2. India
      3. Japan
      4. Rest of Asia Pacific
    5. Latin America Market Estimates & Forecast 2021 - 2031 (USD Million)
      1. Brazil
      2. Argentina
      3. Rest of Latin America
    6. Middle East and Africa Market Estimates & Forecast 2021 - 2031 (USD Million)
      1. Saudi Arabia
      2. UAE
      3. South Africa
      4. Rest of MEA
  12. This section covers global market analysis by key regions considered further broken down into its key contributing countries.
  13. Competitive Landscape
    1. Overview
    2. Company Market Ranking
    3. Key Developments
    4. Company Regional Footprint
    5. Company Industry Footprint
    6. ACE Matrix
  14. This section covers market analysis of competitors based on revenue tiers, single point view of portfolio across industry segments and their relative market position.
  15. Company Profiles
    1. Introduction
    2. Amazon Web Services
      1. Company Overview
      2. Company Key Facts
      3. Business Breakdown
      4. Product Benchmarking
      5. Key Development
      6. Winning Imperatives*
      7. Current Focus & Strategies*
      8. Threat from Competitors*
      9. SWOT Analysis*
    3. Microsoft Azure
    4. IBM
    5. Aliyun
    6. Google Cloud Platform
    7. Salesforce
    8. Rackspace
    9. SAP
    10. Oracle
    11. Vmware
    12. DELL
    13. EMC

  16. *This data will be provided for Top 3 market players*
    This section highlights the key competitors in the market, with a focus on presenting an in-depth analysis into their product offerings, profitability, footprint and a detailed strategy overview for top market participants.

  17. Verified Market Intelligence
    1. About Verified Market Intelligence
    2. Dynamic Data Visualization
      1. Country Vs Segment Analysis
      2. Market Overview by Geography
      3. Regional Level Overview

  18. Report FAQs
    1. How do I trust your report quality/data accuracy?
    2. My research requirement is very specific, can I customize this report?
    3. I have a pre-defined budget. Can I buy chapters/sections of this report?
    4. How do you arrive at these market numbers?
    5. Who are your clients?
    6. How will I receive this report?

  19. Report Disclaimer

Companies featured in this report

  • Amazon Web Services
  • Microsoft Azure
  • IBM
  • Aliyun
  • Google Cloud Platform
  • Salesforce
  • Rackspace
  • SAP
  • Oracle
  • Vmware
  • DELL
  • EMC

Frequently Asked Questions

How big is the Cloud Computing Market?
The Cloud Computing Market was valued at USD 677.96 Billion in 2023 and is projected to reach USD 2,432.88 Billion by 2030, growing at a CAGR of 20.1% during the forecasted period 2024 to 2030.
Who are the major players in the Cloud Computing Market?
The leading Players in the market are Amazon Web Services, Microsoft Azure, IBM, Aliyun, Google Cloud Platform, Salesforce, Rackspace, SAP, Oracle, Vmware, DELL, EMC.
Which segments are covered in the report of Cloud Computing Market?
The Cloud Computing Market is Segmented On The Basis Of Type, Application, And Geography.
Which regions are covered in the report that having a potential scope for the Cloud Computing Market?
On the basis of Geography, The Cloud Computing Market is classified into North America, Europe, Asia Pacific, and the Rest of the world.
How can I get a sample report of statistical data for the Cloud Computing Market?
Verified Market Reports provides a sample report for the Cloud Computing Market as per requirements. In addition to that, 24*7 chat support & direct call services are available for further assistance.
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