Market Overview:
With the increasing use of cloud computing, the market for public cloud is destined to increase. Market Research Future (MRFR) has published a research report regarding the Global Public Cloud Market that estimates massive growth for this market with 22.78% CAGR (Compound Annual Growth Rate) between 2017 and 2023. In terms of cash, this market is expected to be worth the US $ 1,132.88 bn during the forecast period.
The key factors driving the global Public Cloud Market include more enterprises and micro business entities shifting towards digitization, expansion of the internet-of-things (IoT), and the introduction of new frameworks to boost digitization and frameworks to facilitate low-cost internet services for citizens in countries with speedy development.
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).
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Segmentation:
The global public cloud market is segmented on the basis of cloud computing, service type, organization size, end use industry, and region.
- By cloud computing, the global public cloud market is segmented into cloud billing, cloud communication platforms, cloud access security, cloud high performance computing, and cloud infrastructure. The cloud infrastructure segment currently dominates the global public cloud, but cloud billing is likely to witness the highest CAGR over the forecast period.
- By service type, the global public cloud market is segmented into SaaS, PaaS, and IaaS. SaaS is likely to exhibit the highest growth rate over the forecast period, as it offers users the convenience of being able to access the services without installing them.
- By organization size, the global public cloud market is segmented into large enterprises and small midsized enterprises.
- By end use, the public cloud market is segmented into manufacturing, BFSI, healthcare, retail, government, aerospace and defense, IT and telecommunications, and others. BFSI is likely to be the major revenue generator for the global public cloud market over the forecast period due to the growing adoption of mobile apps and related ecosystems in the BFSI sector.
Regional Analysis:
North America is likely to dominate the global public cloud market over the forecast period, followed by Europe. The adoption of public cloud has been widespread in North America. Growing government support to public cloud expansion is also likely to be a major driver for the public cloud market in North America over the forecast period. Europe is also a leading regional market for public cloud due to the strong government support for widespread installation of public cloud infrastructure. The increasing use of 5G connectivity and the growing reliance on mobile apps for transactions are likely to drive the usage of public cloud systems in developed regions such as North America and Europe over the forecast period.
Asia Pacific, Latin America, the Middle East, and Africa are likely to exhibit low growth rates over the forecast period, though the market could see significant opportunities open up in Asia Pacific in the coming years due to the growing demand for advanced connectivity solutions in the regions.
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Latest Industry News
- Accenture has helped Carlsberg transition with its IT infrastructure to the public cloud. 16 NOV 2018
- NiceLabel, a global developer of label design software and label management systems, has launched the first public cloud label management system. This system has been developed to allow businesses to transform their factory and warehouse labeling process digitally. 15 NOV 2018
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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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In order to stay updated with technology and work process of the industry, MRFR often plans conducts meet with the industry experts and industrial visits for its research analyst members.
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