JERSEY CITY, N.J., Oct. 20, 2020 /PRNewswire/ -- Verified Market Research recently published a report, "Cloud Computing Market by Service (Infrastructure as a Service (IaaS), Platform as a Service (PaaS), Software as a Service (SaaS)), by Deployment (public cloud, private cloud, hybrid cloud), by End User (BFSI, IT and telecom, Manufacturing, retail and consumer goods, Media and entertainment, Government and public sector), Geography". According to Verified Market Research, the Global Cloud Computing Market was valued at USD 252.70 Billion in 2019 and is projected to reach USD 718.07 Billion by 2027, growing at a CAGR of 13.9% from 2020 to 2027.
This report provides detailed analysis of the growth trends among each of the segments as well as accurate forecasts in terms of the value and volume.
Factors such as growing digital transformation among industries, rising penetration of internet and mobile devices across the world, and increase in consumption of big data are the primary drivers fostering the market growth. The development of next-generation industrial solutions will be cloud enhanced and require a cloud platform to showcase their digital business capabilities. Furthermore, rise in adoption of Internet of Things (IoT), edge computing, 5G, use of real-time analytics enabled by Artificial Intelligence (AI) and Machine Learning (ML) is likely to boost the utility of this computing technology among organizations.
Some of the factors that are responsible for the growth of the market include increasing use of cloud-based solutions, increasing need for businesses to offer flexible work options to their employees as well as improved internet connectivity. The major players in the market are Google LLC, Amazon.com Inc., Oracle Corporation, Microsoft Corporation, Alphabet Inc, Inc., SAP SE, IBM Corporation, Alibaba Group Holding Ltd., Cisco Systems, and Adobe Systems Inc.
Verified Market Research has segmented the Global Cloud Computing Market on the basis of Service, Deployment, End user, and Geography.
Cloud Computing Market by Service
Infrastructure as a Service (IaaS)
Platform as a Service (PaaS)
Software as a Service (SaaS)
Cloud Computing Market by Deployment
Cloud Computing Market by End User
IT and telecom
Manufacturing, retail and consumer goods
Media and entertainment
Government and public sector
Cloud Computing Market by Geography
Rest of Europe
Rest of Asia Pacific
Middle East & Africa
Browse Related Reports:
Cloud API Market by Type (IaaS APIs, PaaS APIs, SaaS APIs, Cross-platform APIs), by End-Use Industry (BFSI, IT and Telecommunication, Education, Manufacturing, Healthcare, Media & Entertainment), Geography, Forecast, 2019-2026
Hybrid Cloud Market by Component (Solution, Services), by Service Model (Infrastructure-as-a-Service, Platform-as-a-Service, Software-as-a-Service), by Vertical (BFSI, IT and Telecommunications, Healthcare, Retail, Media and entertainment), Geography, Forecast, 2020-2027
Cloud Storage Market by Component (Solution, Services), by Vertical (BFSI, Healthcare, ITES, Telecommunications, Energy & Utilities), Geography, Forecast, 2019-2026
Cloud Computing In Education Sector Market by Deployment Model (Community Cloud, Hybrid Cloud, Public Cloud, Private Cloud), by Service Model (Infrastructure-as-a-Service (IaaS), Platform-as-a-Service (PaaS), Software-as-a-Service (SaaS)), by User Type (Higher Education, K-12), Geography, Forecast, 2020-2027
Verified Market Research is a leading Global Research and Consulting firm servicing over 5000+ customers. Verified Market Research provides advanced analytical research solutions while offering information enriched research studies. We offer insight into strategic and growth analyses, Data necessary to achieve corporate goals and critical revenue decisions.
Our 250 Analysts and SME's offer a high level of expertise in data collection and governance use industrial techniques to collect and analyze data on more than 15,000 high impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise and years of collective experience to produce informative and accurate research.
We study 14+ categories from Semiconductor & Electronics, Chemicals, Advanced Materials, Aerospace & Defense, Energy & Power, Healthcare, Pharmaceuticals, Automotive & Transportation, Information & Communication Technology, Software & Services, Information Security, Mining, Minerals & Metals, Building & construction, Agriculture industry and Medical Devices from over 100 countries.