The global cloud computing market size is expected to grow from USD 272.0 billion in 2018 to USD 623.3 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 18.0% during the forecast period.
Increased automation and agility, need for delivering enhanced customer experience, and increased cost savings and return on investment are the major growth factors for the cloud computing market. However, data prone to cyber-attacks and lack of skilled labor may restrain the growth of the cloud computing market.
Infrastructure as a Service (IaaS) to help enterprises in enhancing infrastructure scalability and performance
The key features of IaaS include automated administrative tasks, dynamic scaling, platform virtualization, and network connectivity. IaaS enables enterprises to leverage their IT infrastructure without paying for the construction of the physical infrastructure. Moreover, it provides flexibility, mobility, easy, and scalable access to applications, and enhanced collaboration to help enterprises focus on their core businesses.
Retail and consumer goods vertical to grow at the highest rate during the forecast period
The retail and consumer goods vertical is one of the fastest-growing verticals with respect to the adoption of emerging and innovative technologies, such as cloud computing, big data analytics, DevOps, digital stores, and social networks. Various factors driving this adoption are the rising purchasing power of customers and the need to satisfy customer expectations leading to the existing customer retention and new customer acquisition. Online retailing and cloud technologies have significantly disrupted the retail and consumer goods vertical leading to the adoption of cloud computing mainly for storage, backup, and security services.
North America to hold the largest market size and the Asia Pacific (APAC) to grow at the highest rate during the forecast period
North America is the most mature market in terms of cloud computing services adoption, due to several factors, such as the presence of many enterprises with advanced IT infrastructure, and availability of technical expertise. APAC is expected to offer significant growth opportunities for cloud computing vendors during the forecast period. Rapid advancements in emerging technologies, IT infrastructure services, and the Internet of Things (IoT) have led many organizations to adopt cloud computing services.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights 4.1 Attractive Market Opportunities In the Cloud Computing Market 4.2 Cloud Computing Market, by Service Model (2018 Vs. 2023) 4.3 Cloud Computing Market, by Deployment Model (2018 Vs. 2023) 4.4 Cloud Computing Market, by Vertical (2018 Vs. 2023) 4.5 Market Investment Scenario
5 Market Overview and Industry Trends 5.1 Introduction 5.2 Market Dynamics 5.2.1 Drivers 188.8.131.52 Increased Automation and Agility 184.108.40.206 Need For Delivering Enhanced Customer Experience 220.127.116.11 Increased Cost-Savings and Return On Investment 5.2.2 Restraints 18.104.22.168 Data Prone To Cyber-Attacks 22.214.171.124 Lack of Skilled Labor 5.2.3 Opportunities 126.96.36.199 Increase In Adoption of Hybrid Cloud Services 188.8.131.52 Rise In Number of Small and Medium-Sized Enterprises To Create New Revenue Opportunities For Cloud Vendors 5.2.4 Challenges 184.108.40.206 Increased Need To Manage Regulatory and Compliance Policy Needs 220.127.116.11 Compatibility Issues With Legacy Systems 18.104.22.168 Fear of Vendor Lock-In
6 Cloud Computing Market, by Service Model 6.1 Introduction 6.2 Infrastructure as a Service 6.2.1 Growth of This Service To Be Driven by Increasing Need of Enterprises To Shift Enterprise Workloads To Cloud 6.3 Platform as a Service 6.3.1 More Developers Embrace Cloud-Based Developments Platforms To Deploy Applications Leading To High Traction of This Service In Near Future 6.4 Software as a Service 6.4.1 Large Scale Adoption by Enterprises Across the Globe To Reduce Cost and Time For Deployment of Applications Driving the Growth of This Service
7 Cloud Computing Market, by Deployment Model 7.1 Introduction 7.2 Public Cloud 7.2.1 Lower Cost and Increased Security Capabilities Result In Rising Popularity of Public Cloud 7.3 Private Cloud 7.3.1 Private Cloud To Gain Popularity Among Enterprises Requiring Better Control Over Data and Cloud Compliant Offerings 7.4 Hybrid Cloud 7.4.1 Several Benefits Offered To Enterprises To Lead Hybrid Cloud Gain a Huge Traction
8 Cloud Computing Market, by Organization Size 8.1 Introduction 8.2 Small and Medium-Sized Enterprises 8.2.1 Need To Reduce Cost of Deployment of Applications Lead To High Affinity Toward Cloud Offerings by Small and Medium-Sized Enterprises 8.3 Large Enterprises 8.3.1 Large Enterprises To Majorly Invest In Advanced Technologies For Increasing Their Overall Productivity and Efficiency
9 Cloud Computing Market, by Vertical 9.1 Introduction 9.2 Banking, Financial Services and Insurance 9.2.1 Cloud Offers the Benefit of Meeting Regulatory Standards To Enable Vendors Meet These Regulations Easily and Efficiently 9.3 It and Telecommunications 9.3.1 Cloud Offers Benefits of Network Connectivity, Security, Customer Relationship, and End-To-End Service Level Monitoring Helping It and Telecommunications Companies To Enhance Their Core Competencies 9.4 Government and Public Sector 9.4.1 Cloud Computing Offers Real-Time Interactions With Citizens, Data Security, Reduced Costs, and On-Demand Data Availability, Leading To Adoption of Cloud In This Vertical 9.5 Retail and Consumer Goods 9.5.1 Cloud Computing Services Enable Retailers To Access Customer Data With Just One Click From Any Store Located Anywhere Leading To Better Customer Service Delivery 9.6 Manufacturing 9.6.1 Manufacturing Vertical To Adopt Cloud-Based Services For Automating and Delivering Enhanced Quality Faster and Cost-Effectively 9.7 Energy and Utilities 9.7.1 Cloud Offers the Benefits of Lower Capex and Opex, Unlimited Compute, Quicker and Efficient Service Delivery, and Agility Enabling Increase In Adoption of Cloud Computing 9.8 Media and Entertainment 9.8.1 Media and Entertainment Vertical To Gain Various Benefits of Cloud, Such as Faster Time-To-Market, Meeting Customer Expectations, Storage and Management of Increasing Volume of Data Generation, and Reduced Costs 9.9 Healthcare and Life Sciences 9.9.1 Implementation of Cloud Computing In This Vertical To Lead Streamlining of Patient Health Service, Increasing Medical Staff Productivity and Enhancing Operational Efficiency 9.10 Others
10 Cloud Computing Market, by Workload 10.1 Introduction 10.2 Storage, Backup, and Disaster Recovery 10.2.1 Enterprises Lacking the Budget To Implement and Maintain Their Own Storage Infrastructure Or Hardware To Avail This Service 10.3 Application Development and Testing 10.3.1 Complete Development and Deployment Environment In the Cloud That Consist of Application Infrastructure 10.4 Database Management 10.4.1 Data Management To Provide Specifically Engineered and Optimized High-Performance Database Workloads 10.5 Business Analytics 10.5.1 Complete End-To-End Offerings Providing Developers Platform With Tools and Frameworks Enable Them To Build Applications Efficiently 10.6 Integration and Orchestration 10.6.1 Enterprises Adopt Hybrid and Multi-Cloud Strategies Leading To Increasing Integration and Orchestration Workloads 10.7 Customer Relationship Management 10.7.1 Cloud-Based CRM Centralizes Customer Database To Provide Comprehensive View of All Interactions With Customers For Teams At Different Geographic Locations 10.8 Enterprise Resource Management 10.8.1 Cloud Erm Systems Provide Reliable Access To Information and Help Avoid Data and Operations Redundancy Enabling Efficient Business Operations and Processes 10.9 Collaboration and Content Management 10.9.1 Several Enterprises Embracing Cloud-Based Technologies To Led Rise In Collaboration and Content Management Workloads 10.10 Others 11 Cloud Computing Market, by Region 11.1 Introduction 11.2 North America 11.2.1 United States 22.214.171.124 Us Is the Most Mature Market In Terms of Cloud Adoption 11.2.2 Canada 126.96.36.199 Stable Economy and Increasing Saas Adoption To Provide Major Opportunities For the Cloud Computing Market 11.3 Europe 11.3.1 United Kingdom 188.8.131.52 Cloud Computing Market In the UK To Provide a Better Environment For Adopting Cloud and Improving Business Efficiency To Customers 11.3.2 Germany 184.108.40.206 Presence of Established Cloud-Based Enterprises and Informed Customers To Prove That the Country Holds a Status of Mature Market For Cloud and Advanced Technologies 11.3.3 France 220.127.116.11 SMEs In France To Move Toward the Adoption of Cloud Computing Solutions and Services 11.3.4 Rest of Europe 11.4 Asia Pacific 11.4.1 China 18.104.22.168 China Possesses Huge Investments From Private Sectors, Robust Government Support, and Availability of Huge Population of Young Generation To Drive the Growth of New and Emerging Technologies In This Country 11.4.2 Japan 22.214.171.124 Japan To Be Most Consistent and Developed Market For Cloud Services With No Trade Barriers 11.4.3 Australia and New Zealand 126.96.36.199 Availability of Advanced and Reliable Cloud Infrastructure To Present Attractive Opportunities For Cloud-Based Technologies 11.4.4 Rest of Asia Pacific 11.5 Middle East and Africa 11.5.1 Kingdom of Saudi Arabia 188.8.131.52 Ksa To Continue Its Dominance In the Market Through Enhanced Availability of Cloud Infrastructure and New Government Initiatives 11.5.2 United Arab Emirates 184.108.40.206 Quick It Resource Deployment, Low Cost Storage Services, and Resource Monitoring To Drive the Adoption of Cloud Computing In the UAE 11.5.3 South Africa 220.127.116.11 Public Cloud Services Used For the e-government in This Country To Gain Huge Traction, Resulting In the Adoption of Cloud Migration Services, as Well as the Usage of Public Cloud 11.5.4 Rest of Middle East and Africa 11.6 Latin America 11.6.1 Brazil 18.104.22.168 Growing Awareness About Cloud Services and Increasing Shift Toward Digitalization Led To the Adoption of Cloud Technologies In This Country by Smes 11.6.2 Mexico 22.214.171.124 Mexico To Led Major Digital Transformation of the Telecom Sector by Adopting Cloud Technologies 11.6.3 Rest of Latin America
12 Competitive Landscape 12.1 Competitive Scenario 12.1.1 Partnerships, Agreements, and Collaborations 12.1.2 New Product Launches 12.1.3 Business Expansions 12.1.4 Mergers and Acquisitions 12.2 Competitive Leadership Mapping 12.2.1 Visionary Leaders 12.2.2 Innovators 12.2.3 Dynamic Differentiators 12.2.4 Emerging Companies
13 Company Profiles 13.1 AWS 13.2 IBM 13.3 Microsoft 13.4 Google 13.5 Oracle 13.6 Alibaba 13.7 SAP 13.8 Vmware 13.9 Rackspace 13.10 Salesforce 13.11 Adobe 13.12 Verizon 13.13 Centurylink 13.14 Fujitsu 13.15 NTT Communications