The Worldwide Cloud Services Industry is Expected to Reach $927+ Billion by 2027

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Dec 06, 2021, 12:45 ET

DUBLIN, Dec. 6, 2021 /PRNewswire/ -- The "Cloud Services Market by Offering, Type and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.

According to this report the cloud services market size was valued at $264.80 billion in 2019, and is projected to reach $927.51 billion by 2027, growing at a CAGR of 16.4% from 2020 to 2027.

Cloud computing is the practice of sharing network of remote servers which are hosted on the Internet to store, process, share, and manage data rather than on a local server or a personal computer. The services provided by the cloud computing technology are referred to as cloud services. These specifically refer to a common storage space through which all the devices in the network can access data simultaneously. The use of cloud services not only provides cost benefits but also makes data accessible to all devices in the network at any time and from any location.

The most important factor, which is driving the growth of the global cloud services market, is the cost effectiveness. With the deployment of cloud services, organizations can save more than 35% of the annual operating costs. The other factor includes all the functional capabilities which boost up the business performances of the organizations. In addition to this, upsurge in demand for cloud services due to COVID-19 pandemic boosted growth of the market.

However, data security is the key restrain for the growth of cloud services market as organizations believe that their data is more secure in in-house data centers as compared to a virtual cloud network. The other limiting factors are the data location and data administration, which need to be properly worked out in order to increase the revenue of the market. Developing economies have gradually grown to become the hub for IT services, which is one of the largest target segments for cloud services thus being opportunistic for the market growth. In addition, substantial increase in the number of small and medium enterprises eventually lead to increased adoption of cloud services in such regions.

The cloud services market is segmented on the basis of offering, type, deployment model, enterprise size, application, industry vertical, and region. On the basis of offering, the market is segmented into solution and services. By type, it is categorized into IaaS, PaaS, SaaS, and others. On the basis of Deployment Model, it is divided into public cloud, private cloud, and hybrid cloud. By enterprise size, it is categorized into large enterprises and small and medium enterprises.

By application, the market is segmented into asset management, customer relationship management (CRM), enterprise resource management (ERM), supply chain management (SCM), project and portfolio management, business intelligence, and others. By industry vertical, it is categorized BFSI, IT & telecommunications, retail, government, media & entertainment, healthcare, manufacturing, oil & gas, metals & mining, petrochemicals, energy & utilities, pulp & paper, agriculture, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The market players operating in the cloud services market include Alibaba Cloud, Amazon Web Services, Inc., Cisco System, Inc., Dell Technologies Inc., Google LLC , Hewlett Packard Enterprise Development LP , International Business Machine (IBM) Corporation, Microsoft Corporation, Oracle Corporation, and Rackspace Hosting, Inc. These major players have adopted various key development strategies such as business expansion, new product launches, and others, which helped drive the growth of the global cloud services market.

Key Benefits

The study provides an in-depth analysis of the cloud services market along with current trends and future estimations to elucidate imminent investment pockets.
Information about key drivers, restrains, and opportunities and their impact analysis on the market size is provided in the report.
Porter's five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
The quantitative analysis of cloud services market for the period 2020-2030 is provided to determine the market potential.

Key Topics Covered:

CHAPTER 1: INTRODUCTION

CHAPTER 2: EXECUTIVE SUMMARY

CHAPTER 3: MARKET OVERVIEW
3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS
3.2.1. Top impacting factors
3.2.2. Top investment pockets
3.3. PORTER'S FIVE FORCES ANALYSIS
3.3.1. Moderate -To-High bargaining power of suppliers
3.3.2. Low-To-High bargaining power of buyers
3.3.3. Low-To-High Threat of substitutes
3.3.4. Low threat of new entrants
3.3.5. Low-To-High competitive rivalry
3.4. VALUE CHAIN ANALYSIS
3.4.1. Network connectivity & hardware:
3.4.2. Infrastructure &hosting
3.4.3. Platform and application services
3.4.4. Application management and service bundling
3.4.5. Service delivery & customer support
3.4.6. Consulting and SI
3.5. PRICING MODEL
3.5.1. Consumption based pricing
3.5.2. Subscription based pricing
3.5.3. Advertising based pricing
3.5.4. Market based pricing
3.6. MARKET DYNAMICS
3.6.1. Drivers
3.6.1.1. Increase in demand for cloud services
3.6.1.2. Increase in adoption of cloud in SMEs
3.6.1.3. Upsurge in demand for cloud services due to COVID-19 pandemic
3.6.2. Restraint
3.6.2.1. Concerns associated with data security and protection
3.6.3. Opportunities
3.6.3.1. Rise in cloud services adoption in developing regions
3.7. MARKET EVOLUTION/ INDUSTRY ROADMAP
3.8. IMPACT OF GOVERNMENT REGULATIONS ON GLOBAL CLOUD SERVICES MARKET
3.9. PATENT ANALYSIS
3.10. COVID-19 IMPACT ANALYSIS ON CLOUD SERVICES MARKET
3.11. COMPARISON BETWEEN CLOUD AND ON-PREMISE
3.12. CLOUD ADOPTION CUSTOMER SURVEY RESULTS ANALYSIS

CHAPTER 4: CLOUD SERVICES MARKET, BY OFFERING
4.1. OVERVIEW
4.2. SOLUTIONS
4.2.1. Key market trends, growth factors, and opportunities
4.2.2. Market size and forecast, by region
4.2.3. Market analysis, by country
4.3. SERVICES
4.3.1. Key market trends, growth factors, and opportunities
4.3.2. Market size and forecast, by region
4.3.3. Market analysis, by country
4.3.4. Consulting services
4.3.5. Implementation and integration services

CHAPTER 5: CLOUD SERVICES MARKET, BY TYPE
5.1. OVERVIEW
5.2. INFRASTRUCTURE AS A SERVICE (IAAS)
5.2.1. Key market trends, growth factors, and opportunities
5.2.2. Market size and forecast, by region
5.2.3. Market analysis, by country
5.3. PLATFORM AS A SERVICE (PAAS)
5.3.1. Key market trends, growth factors, and opportunities
5.3.2. Market size and forecast, by region
5.3.3. Market analysis, by country
5.4. SOFTWARE AS A SERVICE (SAAS)
5.4.1. Key market trends, growth factors, and opportunities
5.4.2. Market size and forecast, by region
5.4.3. Market analysis, by country
5.5. OTHERS
5.5.1. Key market trends, growth factors, and opportunities
5.5.2. Market size and forecast, by region
5.5.3. Market analysis, by country

CHAPTER 6: GLOBAL CLOUD SERVICES MARKET, BY DEPLOYMENT MODEL
6.1. OVERVIEW
6.2. PRIVATE CLOUD
6.2.1. Key market trends, growth factors, and opportunities
6.2.2. Market size and forecast, by region
6.2.3. Market analysis, by country
6.3. PUBLIC CLOUD
6.3.1. Key market trends, growth factors, and opportunities
6.3.2. Market size and forecast, by region
6.3.3. Market analysis, by country
6.4. HYBRID CLOUD
6.4.1. Key market trends, growth factors, and opportunities
6.4.2. Market size and forecast, by region
6.4.3. Market analysis, by country

CHAPTER 7: CLOUD SERVICES MARKET, BY ORGANIZATION SIZE
7.1. OVERVIEW
7.2. LARGE ENTERPRISES
7.2.1. Key market trends, growth factors, and opportunities
7.2.2. Market size and forecast, by region
7.2.3. Market analysis, by country
7.3. SMES
7.3.1. Key market trends, growth factors, and opportunities
7.3.2. Market size and forecast, by region
7.3.3. Market analysis, by country

CHAPTER 8: CLOUD SERVICES MARKET, BY APPLICATION
8.1. OVERVIEW
8.2. ASSET MANAGEMENT
8.2.1. Key market trends, growth factors, and opportunities
8.2.2. Market size and forecast, by region
8.2.3. Market analysis, by country
8.3. CUSTOMER RELATIONSHIP MANAGEMENT (CRM)
8.3.1. Key market trends, growth factors, and opportunities
8.3.2. Market size and forecast, by region
8.3.3. Market analysis, by country
8.4. ENTERPRISE RESOURCE MANAGEMENT (ERM)
8.4.1. Key market trends, growth factors, and opportunities
8.4.2. Market size and forecast, by region
8.4.3. Market analysis, by country
8.5. SUPPLY CHAIN MANAGEMENT (SCM)
8.5.1. Key market trends, growth factors, and opportunities
8.5.2. Market size and forecast, by region
8.5.3. Market analysis, by country
8.6. PROJECT & PORTFOLIO MANAGEMENT
8.6.1. Key market trends, growth factors, and opportunities
8.6.2. Market size and forecast, by region
8.6.3. Market analysis, by country
8.7. BUSINESS INTELLIGENCE
8.7.1. Key market trends, growth factors, and opportunities
8.7.2. Market size and forecast, by region
8.7.3. Market analysis, by country
8.8. OTHERS
8.8.1. Key market trends, growth factors, and opportunities
8.8.2. Market size and forecast, by region
8.8.3. Market analysis, by country

CHAPTER 9: GLOBAL CLOUD SERVICES MARKET, BY INDUSTRY VERTICAL
9.1. OVERVIEW
9.2. BFSI
9.3. IT & TELECOMMUNICATIONS
9.4. RETAIL
9.5. GOVERNMENT
9.6. MEDIA & ENTERTAINMENT
9.7. HEALTHCARE
9.8. MANUFACTURING
9.9. OIL & GAS
9.10. METALS & MINING
9.11. PETROCHEMICALS
9.12. ENERGY & UTILITIES
9.13. PULP & PAPER
9.14. AGRICULTURE
9.15. OTHERS

CHAPTER 10: CLOUD SERVICES MARKET, BY REGION

CHAPTER 11: COMPETITIVE LANDSCAPE
11.1. KEY PLAYER POSITIONING ANALYSIS, 2020
11.2. TOP WINNING STRATEGIES
11.3. COMPETITIVE DASHBOARD

CHAPTER 12: COMPANY PROFILES

For more information about this report visit https://www.researchandmarkets.com/r/j5e2z2

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