The global cloud computing market is expected to reach a value of USD 750,100 million by 2027, at a CAGR of 30.10% over the forecast period (2021-2027)

SkyQuest Technology Consulting Pvt. ltd.

Cloud computing allows companies to store, manage and process critical data using remote servers hosted on the Internet. The growing volume of data generation on websites and mobile apps, the growing emphasis on delivering customer-centric apps to drive customer satisfaction, and the growing need to control and reduce investment (CAPEX) and operational expenditure (OPEX) are just some of the factors driving the growth of emerging technologies. Emerging technologies such as big data, artificial intelligence (AI) and machine learning (ML) are gaining momentum propelling the global cloud computing market forward. The growth of cloud computing services is driven by major factors such as data security, faster disaster recovery (DR), and meeting compliance requirements.

Westford, USA, May 03, 2022 (GLOBE NEWSWIRE) — The need to reduce risk, achieve scalability and flexibility in moving and storing data, reduce storage complexity and infrastructure and increase business efficiency cloud computing marketthe growth.

Businesses are concerned about the upfront and ongoing costs of hosting data on premises. Additionally, electricity costs, employee expenses, and downtime issues are a few additional concerns for businesses. The current competitive environment and global economic conditions have accelerated the adoption of cost-effective measures to restructure business models. The growing shift of businesses towards digital transformation and accelerating customer experience are a few more factors driving the adoption of cloud computing services, thereby reducing business costs. Additionally, the cloud offers the benefit of a pay-as-you-go model, which allows businesses to pay for cloud services based on usage, reducing costs. Due to benefits such as on-demand availability, start-ups and SMBs are increasingly turning to cloud services.

Read Market Research Report, “Global Cloud Computing Market Segmented by Deployment Type (Private Cloud, Public Cloud, and Hybrid Cloud), Service Model (Infrastructure as a Service (IaaS), Platform as as a Service (PaaS) and Software as a Service (SaaS), and Vertical (Government, Military & Defense, Telecom & IT, Healthcare, Retail & Others) and by Region – Forecast & Analysis 2021-2027 by SkyQuest

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Companies with existing infrastructure are turning to cloud services and are ready to take a hybrid approach to leverage the benefits of on-premises and cloud services. SMBs are widely adopting cloud computing services due to significant benefits such as no upfront infrastructure setup costs and availability of on-demand computing services. These factors help drive the adoption of hybrid cloud services in enterprises. The hybrid cloud offers benefits such as better workload management, increased security and compliance, and efficient integration within DevOps teams. It also provides the flexibility to move from on-premises to cloud or between clouds, as well as the scalability needed to gain a competitive advantage over other businesses. The increased mobility of users and resources, the continuous migration of cloud applications, and the emergence of more sophisticated threats are pushing organizations to adopt a hybrid cloud. Healthcare, BFSI, and government that prioritize compliance, security, and customer experience use the hybrid deployment model. Additionally, as cloud-based applications such as Dropbox, Facebook, and Gmail, among others, become more flexible and robust, the processing cycle in a real-time scenario must be faster. As a result, enterprises are turning to Omni-cloud solutions to leverage numerous benefits such as ease of data use, efficient decision-making, secure data availability, and real-time scalability.

Cloud computing services help businesses increase efficiency and reduce costs. Moreover, these services offer many advantages, such as flexibility, scalability and agility. Despite the fact that the cloud offers many advantages and security measures, data stored in the cloud is still vulnerable to cyberattacks. The number of cyberattacks is growing rapidly as the volume of data grows and business initiatives for digital transformation expand. Cyber ​​attacks such as Specter and Meltdown, as well as cloud malware injection attacks, account or service hijacking, and cloud man-made attacks, expose enterprise data to vulnerabilities. These threats can lead to losses and business closures.

Major players in the Cloud Computing market are Google LLC, Amazon Web Services, Inc., Microsoft Inc., Alibaba Cloud International, IBM Corp., Yahoo, Inc., and Salesforce Inc., etc. New players are also entering the segment. increasing its market penetration and therefore exponentially growing demand.

The report published by SkyQuest Technology Consulting provides in-depth qualitative information, historical data and verifiable projections on the size of the market. The projections presented in the report have been derived using proven research methodologies and assumptions.

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SkyQuest has segmented the global cloud computing market on the basis of deployment type, service model, industry vertical, and region:

  • Cloud Computing Market by Deployment Type (Revenue, USD Million, 2020-2027)

    • Private cloud

    • public cloud

    • hybrid cloud

  • Cloud Computing Market by Service Model (Revenue, USD Million, 2020-2027)

    • Infrastructure as a Service (IaaS)

    • Platform as a Service (PaaS)

    • Software as a Service (SaaS)

  • Cloud Computing Vertical Market (Revenue, USD Million, 2020-2027)

    • Government

    • Military & Defense

    • Telecom & IT

    • Health care

    • Retail

    • Others

  • Cloud Computing Market Regional Outlook (Revenue, USD Million, 2020-2027)

    • North America

    • Europe

      • Germany

      • France

      • UK

      • Italy

      • Spain

      • The rest of Europe

    • Asia Pacific

      • China

      • India

      • Japan

      • Rest of Asia-Pacific

    • Central and South America

    • Middle East and Africa

      • GCC countries

      • South Africa

      • Rest of MEA

List of Key Cloud Computing Market Players

  • Accenture PLC (Ireland)

  • Adobe, Inc. (USA)

  • Alibaba Cloud International (China)

  • Amazon Web Services, Inc. (USA)

  • Apple, Inc. (USA)

  • AT&T, Inc. (USA)

  • Cisco Systems, Inc. (USA)

  • Citrix Systems, Inc. (USA)

  • Dell, Inc. (USA)

  • Google LLC (USA)

  • Hewlett Packard Enterprise Development LP (US)

  • IBM Corp. (United States)

  • Intel Corp. (United States)

  • Microsoft Corp. (United States)

  • NetSuite, Inc. (USA)

  • Oracle Corp. (United States)

  • Salesforce.com, Inc. (USA)

  • SAP SE (Germany)

  • Verizon Business Solutions (US)

  • Yahoo, Inc. (USA)

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