Cloud Computing Market size to grow by USD 429.6 billion from 2022 to 2027, Growth driven by the increased use of containers - Technavio

NEW YORK, Nov. 8, 2023 /PRNewswire/ -- The "cloud computing market by deployment (public cloud and private cloud), service (SaaS, IaaS, and PaaS), and geography (North America, APAC, Europe, South America, and Middle East and Africa) - Forecast and Analysis 2023-2027" report has been added to Technavio's offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the cloud computing market from 2022 to 2027 is USD 429.6 billion. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy the full report here

The increased use of containers is a key factor driving market growth. Enterprises are looking for consistency in the development environment of their applications due to the proliferation of different platforms and operating systems. Containers and microservices, which consume a higher amount of resources, have become an alternative to virtual machines. Additionally, container architecture and microservices enable rapid scaling across different environments. The ability to scale their IT infrastructure is essential as organizations seek to grow their business. Hence, these factors are expected to drive market growth during the forecast period. 

Market Challenge

The company lock-in and operational complexities are significant challenges restricting market growth. When customers are unable to easily switch from one product or service to another company's product or service, company lock-in, also known as customer lockin or exclusive lockin, occurs. To the extent that an enterprise or its customer is unable to benefit from technology, solutions, and services by other suppliers, it will therefore depend on a single supplier of products and services. Therefore, it can be difficult to switch to public cloud providers once all the data is already stored on a private cloud platform.

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The cloud computing market is segmented by deployment (public cloud and private cloud), service (SaaS, IaaS, and PaaS), and geography (North America, APAC, Europe, South America, and the Middle East and Africa). 

• The market share growth by the public cloud segment will be significant during the forecast period. Increasing globalization, as well as the growth of information technology and financial services sectors, are leading to an increase in this segment.
  
  
• North America is estimated to contribute 50% to the growth of the global market during the forecast period.

View the Sample Report for insights into the contribution of all the segments and regional opportunities in the report.

Key Companies in the cloud computing market:

Adobe Inc., Alibaba Group Holding Ltd., Alphabet Inc., Amazon.com Inc., Cisco Systems Inc., Citrix Systems Inc., Dell Technologies Inc., Hewlett Packard Enterprise Co., Huawei Technologies Co. Ltd., International Business Machines Corp., NetApp Inc., Nutanix Inc., Oracle Corp., Rackspace Technology Inc., Red Hat Inc., Salesforce.com Inc., Tata Consultancy Services Ltd., Microsoft Corp., SAP SE, and VMware Inc.

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ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Deployment

Market Segmentation by Service

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio