The Cloud Computing Market was valued at approximately USD 714.6 billion in 2024 and is expected to grow at a substantial CAGR of around 17.3% during the forecast period (2025-2033),
Internet penetration rate and data generated yearly are some of the most prominent factors driving the growth of the cloud computing
market because as the size of generated data increases the need for this data
to be stored either in physical storage devices or in cloud storage also
increases. Moreover, physical storage devices are easy to access but they are more
expensive and less secure than cloud storage, there is a higher risk for data loss or data theft in physical
data storage. Therefore, the demand for cloud-based storage is increasing. Furthermore, AI is playing a big role in the increasing demand for cloud
computing because many companies are using AI to provide smarter solutions for
their business problems. There are many benefits of using or developing AI on
cloud platforms, it is cost-effective
to work on AI projects on cloud platforms because it eliminates costs related to
on-site data centers, such as hardware and maintenance.
Based on type, the market is segmented into public cloud, private cloud,
and hybrid cloud. In 2020, private cloud accounted for the majority share in
the global cloud computing market due to its superior performance, compliance,
and security reasons. Usually, private clouds are deployed inside the firewall of the intranet of
the organization which ensures
efficiency and good network performance. Furthermore, it gives better controls
for data, and user
management. In addition, the private cloud belongs to a single client.
Therefore, the infrastructure and systems can be configured to provide high levels of security.
Based on service, the market is categorized into SaaS, PaaS, and IaaS. Among these, SaaS held a prominent share in the global cloud
computing market and is expected to hold a prominent share during the forecast
period. Reduced time for
software installation and configuration, lower cost, and easy upgrade are the
prominent factors driving the growth of this segment. It is a cloud-based
software delivery model in which the cloud provider develops and maintains cloud application
software, provides software updates, and makes software available to its
customers over the internet on a pay-as-you-go basis. Working with SaaS keeps
the environment updated, and improves scalability & integration.
North America is expected to witness substantial growth during the forecast period
For a better
understanding of the market adoption of the cloud computing industry, the market is analyzed based on
its worldwide presence in the countries such as North America (United States,
Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain,
United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, South
Korea, and Rest of APAC), and Rest of World. North America
dominated the global cloud computing market in 2020. This can be attributed to
the strong emphasis on digital transformation and the trend of being adopters
of next-generation technologies. Many businesses in North America are making a
transition or have completely transitioned toward the hybrid work model.
Moreover, numerous vendors such as
Microsoft Corporation, Oracle Corporation, Amazon.com Inc., and International
Business Machines Corporation and the high propensity to adopt new technologies are expected to
drive the growth of the cloud computing market in this region.
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According to ‘UnivDatos Market, the key players with a considerable market share operating in the Cloud Computing Market include Amazon.com Inc., Microsoft Corporation, Google LLC,
International Business Machines Corporation, Oracle Corporation, VMware Inc.,
Salesforce Inc., Alibaba Group Holding Limited, Hewlett Packard Enterprise, and
SAP SE. These companies are taking various strategic decisions to
increase their market presence and share
“Cloud Computing Market” provides
comprehensive qualitative and quantitative insights on the industry potential,
key factors impacting sales and purchase
decisions, hotspots, and opportunities available for the market players.
Moreover, the report also encompasses the key strategic imperatives for success
for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.
Market Segmentation:
By Type (Private Cloud, Hybrid Cloud, Public Cloud)
By Service (SaaS, PaaS, IaaS)
By Industry (Banking and Financial
Services, Information and Communication Technology, Government,
Consumer Goods, and Retail, Healthcare, and Others)
By Region (North America, Europe, Asia-Pacific, Rest of World)
By Company (Amazon.com Inc., Microsoft Corporation, Google LLC,
International Business Machines Corporation, Oracle Corporation, VMware Inc.,
Salesforce Inc., Alibaba Group Holding Limited, Hewlett Packard Enterprise, and SAP SE)
Key questions answered in the study:
What are the current and future trends of the cloud computing industry?
How the industry has been evolving in
terms of type, service, and industry?
How the competition has been shaping
across the countries followed by their comparative factorial indexing?
What is the customer orientation, purchase behavior, and expectations
from the cloud computing service providers across various countries?
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