Global Cloud Computing Markets, Forecast to 2025 - Surging Demand for Remote Workspaces due to COVID-19 Outbreak Presents Lucrative Opportunities
DUBLIN, Aug. 21, 2020 /PRNewswire/ -- The "Cloud Computing Market by Service Model (Infrastructure as a Service (IaaS), Platform as a Service (PaaS), and Software as a Service (SaaS)), Deployment Model (Public and Private), Organization Size, Vertical, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global cloud computing market size is expected to grow from USD 371.4 billion in 2020 to USD 832.1 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 17.5% during the forecast period.
Digital business transformation has entered a more challenging and urgency-driven phase due to the COVID-19 pandemic. Global giants are providing customers with cost-effective and productive digital solutions as every industry is economically hard-hit from the pandemic. The sudden shutdowns of offices, schools, and enterprises have increased the demand for cloud solutions and services.
The cloud market in verticals such as IT, telecom, BFSI, and media and entertainment has impacted positively due to the work from home initiative. Employees are using cloud collaboration platforms for communicating and consuming OTT streaming services heavily as they need to stay at home amidst lockdowns.
Infrastructure as a Service (IaaS) to help enterprises in enhancing infrastructure scalability and performance
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 enhances collaboration to help enterprises focus on their core businesses.
The increasing internet access through smartphones and other devices has spurred the digitalization trend among enterprises that generate large volumes of business data daily. These factors have increased the enterprises' concerns over losing the focus on core business operations and meeting the demand for clients. IaaS helps in reducing the cost of deploying IT infrastructure, hardware, and in hiring skilled resources. These benefits, in turn, are expected to drive the adoption of IaaS.
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 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
1 Introduction
1.1 Introduction to COVID-19
1.2 COVID-19 Health Assessment
1.3 COVID-19 Economic Assessment
1.4 Objectives of the Study
1.5 Market Definition
1.6 Market Scope
1.7 Currency
1.8 Stakeholders
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Growth Opportunities in the Cloud Computing Market
4.2 Market: by Service Model, 2020 Vs 2025
4.3 Market: by Infrastructure as a Service, 2020 Vs 2025
4.4 Market: by Platform as a Service, 2020 Vs 2025
4.5 Market: by Software as a Service, 2020 Vs 2025
4.6 Market: by Deployment Model, 2020 Vs 2025
4.7 Market: by Vertical, 2020 Vs 2025
4.8 Cloud Computing Market Regional Scenario, 2020-2025
4.9 Market Top Countries, 2020
5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Inclination of Enterprises Toward Automation and Agility
5.2.1.2 Enhanced Customer Experience With Personalization and Collaboration
5.2.1.3 Increased Return on Investments With Lower Infrastructure and Storage Costs
5.2.1.4 Surging Demand for Remote Workspaces With COVID-19 Outbreak
5.2.1.5 Rise in Demand for Cloud-Based Business Continuity Tools and Services
5.2.1.6 Business Expansions by Large Vendors Across Geographies to Acquire Untapped Customer Base
5.2.1.7 Proliferation of Digital Content and Upsurge in Internet Usage
5.2.1.8 Need for Disaster Recovery and Contingency Plan
5.2.2 Restraints
5.2.2.1 Cyberattacks Damaging Business Operations and Critical Data Loss
5.2.2.2 Limited Technical Expertise Among Enterprises in Technologically Developing Geographies
5.2.2.3 Inadequate Network Bandwidth Providers and Lack of Access to High-Speed Internet in Large Number of Countries
5.2.3 Opportunities
5.2.3.1 Increase in Adoption of Hybrid Cloud Services
5.2.3.2 Boosting the Adoption of Edge Technologies
5.2.3.3 Rise in Number of Small and Medium-Sized Enterprises to Create New Revenue Opportunities for Cloud Vendors
5.2.3.4 Telecom Service Providers Leveraging Existing Infrastructure to Offer Cloud-Based Services
5.2.3.5 Increasing Business Tie-Ups With Device Manufacturers
5.2.3.6 Bridging the Connectivity and Accessibility Gap
5.2.3.7 Need for Secure Cloud Environments to Increase Significantly
5.2.4 Challenges
5.2.4.1 Need to Manage Regulatory and Compliance Policy Needs
5.2.4.2 Compatibility Complexities With Legacy Systems
5.2.4.3 Fear of Vendor Lock-In
5.3 COVID-19-Driven Market Dynamics
5.3.1 Drivers and Opportunities
5.3.2 Restraints and Challenges
5.3.3 Cumulative Growth Analysis
5.4 Regulations
5.4.1 General Data Protection Regulation
5.4.2 Payment Card Industry-Data Security Standard
5.4.3 Health Insurance Portability and Accountability Act
5.4.4 Gramm-Leach-Bliley Act
5.4.5 Sarbanes-Oxley Act
5.4.6 SOC2
5.5 Trends
5.6 Value Chain
5.7 Ecosystem
6 COVID-19 Focused Developments and Strategies
6.1 Connectivity Providers/Original Equipment Manufacturers
6.2 Cloud Service Providers
6.3 Consultants/Managed Service Providers
7 Cloud Computing Market, by Service Model
7.1 Introduction
7.2 Infrastructure as a Service
7.3 Platform as a Service
7.4 Software as a Service
8 Cloud Computing Market, by Infrastructure as a Service
8.1 Introduction
8.2 Primary Storage
8.3 Disaster Recovery and Backup
8.4 Archiving
8.5 Compute
9 Cloud Computing Market, by Platform as a Service
9.1 Introduction
9.2 Application Development and Platforms
9.3 Application Testing and Quality
9.4 Analytics and Reporting
9.5 Integration and Orchestration
9.6 Data Management
10 Cloud Computing Market, by Software as a Service
10.1 Introduction
10.2 Customer Relationship Management
10.3 Enterprise Resource Management
10.4 Human Capital Management
10.5 Content Management
10.6 Collaboration and Productivity Suites
10.7 Supply Chain Management
10.8 Others
11 Cloud Computing Market, by Deployment Model
11.1 Introduction
11.2 Public Cloud
11.3 Private Cloud
12 Cloud Computing Market, by Organization Size
12.1 Introduction
12.2 Large Enterprises
12.3 Small and Medium-Sized Enterprises
13 Cloud Computing Market, by Vertical
13.1 Introduction
13.2 Banking, Financial Services, and Insurance
13.3 Telecommunications
13.4 IT and ITEs
13.5 Government and Public Sector
13.6 Retail and Consumer Goods
13.7 Manufacturing
13.8 Energy and Utilities
13.9 Media and Entertainment
13.10 Healthcare and Life Sciences
13.11 Others
14 Cloud Computing Market, by Region
14.1 Introduction
14.2 North America
14.3 Europe
14.4 Asia-Pacific
14.5 Middle East and Africa
14.6 Latin America
15 Competitive Landscape
15.1 Introduction
15.2 Market Evaluation Framework
15.3 Vendor Market Share for Infrastructure as a Service Segment, 2019
15.4 Vendor Market Share for Platform as a Service Segment, 2019
15.5 Vendor Market Share for Software as a Service Segment, 2019
15.6 Key Market Developments
15.6.1 New Product Launches
15.6.2 Business Expansions
15.6.3 Acquisitions
15.6.4 Partnerships
16 Company Profiles
16.1 Introduction
16.2 AWS
16.3 Microsoft
16.4 IBM
16.5 Salesforce
16.6 Google
16.7 Oracle
16.8 SAP
16.9 Alibaba Cloud
16.10 Adobe
16.11 Workday
16.12 Fujitsu
16.13 VMWare
16.14 Rackspace
16.15 DXC
16.16 Tencent
16.17 NEC
16.18 Joyent
16.19 Virtustream
16.20 Digitalocean
16.21 Skytap
16.22 OVH
16.23 Bluelock
16.24 Navisite
16.25 Centurylink
16.26 Infor
16.27 Sage
16.28 Intuit
16.29 Opentext
16.30 Cisco
16.31 Box
16.32 Zoho
16.33 Citrix
16.34 Epicor
16.35 Upland Software
16.36 Servicenow
16.37 IFS
For more information about this report visit https://www.researchandmarkets.com/r/g8429s
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