NEW YORK, Sept. 12, 2016 /PRNewswire/ -- The word 'cloud services' refers to delivery of information technology resources and applications on-demand through the Internet platform. Companies in the cloud services industry provide access to servers, storage, databases and a broad set of application services managed by a hardware networking.
The Americas was the largest geographic market in the cloud services market in 2015, accounting for $xx billion or xx% of the global market.
Europe was the second largest geographic market, accounting for $xx billion or xx% of the global market.
Asia was the third largest geographic market, accounting for $xx billion or xx% of the global market.
The Middle East and Africa accounted for xx% and $xx billion, while Oceania accounted for xx% of the global cloud services market.
Global per capita cloud services consumption grew from $xx in 2011 to $xx in 2015 at a CAGR of xx% because of an increase in the number of consumers accessing private and public cloud services and migration of companies from in house servers to public and private cloud storage. It is expected to grow to $xx in 2019 at a CAGR of xx%.
With growth and technological advances in the cloud industry, companies are witnessing a growing demand of hybrid cloud model. In 2016, hybrid cloud adoption rose from xx% to xx% year-over-year . Hybrid cloud services claim to meet an organization's regulatory norms while also benefiting from the economies of the cloud. They also welcome organizations into the cloud world without drastically changing their approaches. Since hybrid clouds limit the costs of users, its demand has been growing among midsize enterprises.
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