The North American Cloud Services Market, Despite Being the Largest in 2018 at $163 Billion, Will be the Slowest Growing Market to 2022

LONDON, Aug. 1, 2019 /PRNewswire/ -- TheBusinessResearchCompany.com offers "Cloud Services Market By Segments (Infrastructure As a Services (IaaS), Platform As a Services (PaaS), Software As a Service (SaaS), Business Process As a Services (BPaas)), By Country And By Trends – Global Forecast to 2022" from its research database.

North America's cloud services market will grow at an annual rate of a little over 7.5% to 2022, the slowest of all regions globally. This is due to the mature state of the market in the region that caused a slowdown in the further adoption of cloud services in North America. In 2018, North America was the largest region in the cloud services market, accounting for $163 billion or 50% of the market. This large market size was due to the large spend on cloud services by large enterprises in the USA and Canada, due to the high level of initiatives taken by organizations in these countries to adopt the latest digital technologies (digital transformation plans). The high Internet penetration, along with government agencies moving partially to the cloud to improve information services also drove the North American cloud services market. Read More On The Business Research Company's Cloud Services Market Report:  https://www.thebusinessresearchcompany.com/report/cloud-services-market

North America is also home to Microsoft Corporation, the largest global player in the cloud services market. Microsoft develops software products, services and hardware equipment. It is involved in providing services including cloud-based software and platform services. It also provides solution support and consulting services. The company was established in 1975 and is headquartered in Washington, the USA.

High Number Of Enterprises In The USA's Cloud Services Market

The USA was the largest country in the cloud services market worth $157 billion in 2018, nearly five times larger than China's cloud services market, the second largest market globally. The large market size can be attributed to high Internet penetration rate in the country, and increased number of IT and financial enterprises migrating to cloud. The total number of enterprises and employees in a geography determine demand for the cloud services market. Most companies outsource their IT operations to cloud service providers so that they can focus on their core competencies. So, a high number of enterprises and employees in a geography implies that the demand for cloud service providers will be more. In the USA in 2017, the total number of enterprises was 7,776,589. The total number of internet users in the USA was 251 million in 2017. 

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Initiatives Taken To Optimize Cloud Spending

A survey on cloud users in the USA was conducted by RightScale, in 2018. According to the survey, 58% of cloud users preferred to optimize their existing cloud usage, 51% of respondents preferred moving more workload to the cloud and 44% of users favored using the cloud to make better financial reporting. According to the same survey, other initiatives taken by cloud users are automated policies for governance (42%), implementing a cloud first strategy (39%), expanding usage of containers (38%), implementing CI/CD in the cloud (34%), expanding public clouds (34%) and enabling IT to broker multiple cloud services (32%).

Merger Activity In The US Cloud Services Market

In October 2018, Cloudera and Hortonworks announced an all-stock merger at a value of about $5.2 billion. The merger aims to create the world's leading next generation data platform provider, spanning multi-cloud, on-premises and the Edge. Cloudera is a USA-based software company that provides a software platform for data engineering, data warehousing, machine learning and analytics that runs in the cloud or on premises. Hortonworks is a data software company based in Santa Clara, California, USA, that develops, supports, and provides expertise on a set of open-source software designed to manage data and processing for things such as IOT, single view of X, and advanced analytics and machine learning.

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