Product overview

Cloud Computing is the use of hardware and software to deliver a service over a network to process, store, and manage data. It is a common storage space in which all data can be accessed simultaneously. An example is Google's Gmail. Cloud computing is used in games software and other software used by offices and institutions. During the COVID-19 pandemic, the cloud computing market is on the rise as it improves the ability of enterprises to examine important data to ensure improved responses. It also increases the efficiency of online marketing, web designing, editing, engineering, and back-office work. The lockdown in several countries has impacted the cloud market as employees are working remotely with companies using robust two-way tools in order to run operations smoothly which has assured the stability of web-based platforms and services.

Market Highlights

In 2019, the impact of COVID-19 on the cloud computing market grew at USD 233 billion and is predicted to grow at a CAGR of 19.4% during the forecast period. Major factors affecting the growth of this market include the offices and enterprises investing in IT infrastructure for cloud service providers, internet service providers, and managed to host providers. The rise in demand for cloud-based services and suitability of the public cloud environment is best suited for the current pandemic scenario. Organizations have improved the level of innovation and with the outbreak of COVID-19 a majority of operations have been compromised; as a result, many organizations have to function in a non-optimized manner.

Source: Fatpos Global

Recent Highlights on Cloud Computing Market

In May 2019, Amazon Web Services (AWS) partnered with VMware in India which will deliver a digital foundation to support its customers.

As per Technavio, the introduction of blockchain in cloud computing will have a positive impact on the market and contribute to its growth significantly over the forecast period.

Cloud Computing Market: Segments

The cloud computing market can be categorized into segments by technology, by deployment model, by vertical and by region.

By Technology it can be divided into software as a service (SaaS), infrastructure as a service (IaaS) and platform as a service (PaaS). The SaaS segment is expected to grow the highest CAGR during the forecasted period. It will be impacted by verticals, such as transportation, manufacturing, and logistics.

Based on the deployment model, the market for cloud computing has been segmented into private, public, and hybrid clouds. The public cloud segment is expected to register a CAGR of 20% by 2030.

By Vertical it can be further divided into banking financial services and insurance, healthcare, and life sciences, IT and ITeS, retail and consumer goods, telecom, energy and utilities, government and public sector, and manufacturing. The retail segment is to show the highest growth during the forecasted period. Retailers are upgrading their IT infrastructure to take advantage of the collaborated workforce in order to increase the overall productivity. They are moving towards commercial websites as online shopping is gaining attraction during the pandemic.

By the organization's size, the cloud computing market has been divided into large enterprises, small and medium-sized enterprises. The large enterprise segment is to register a CAGR of 19% by 2030.

The region segment can be further divided into five major types including North America, Latin America, Europe, APAC, and MENA.

Cloud Computing Market: Drivers

E-commerce and increased productivity to increase market growth

Cloud computing has become essential due to the covid-19 pandemic, from games to office software. E-commerce is gaining popularity amidst the coronavirus lockdown as food selling and other essential supplies delivery is moving online. The online retailers are using cloud hosting solutions that do not disrupt the business. This market is on a rise during the pandemic as it improves the ability of the enterprises to examine appropriate data and ensure an improved response. Cloud computing also provides improvements in productivity for works that are not ideal with telecommuting. Skype, ClickMeeting, Slack are also relying on this market which is a major driver in the growth of the sector.

High expectations of consumers decrease the market growth

The major restraints in the internet of things market are meeting the expectations of the customer in terms of process optimization, keeping the IoT hardware updated, easing security concerns due to various connected networks, connectivity issues, waiting for government regulations.

Cloud Computing Market: Regions

The region segment can be further divided into five major types including North America, Latin America, Europe, APAC, and MENA.

In the global market for cloud computing, the UK holds the first place followed by Germany and France. The increasing investments made by the service providers for increasing their presence in that region and fulfilling the requirements of customers is the reason for the growth of the market amidst covid-19. North America holds the largest market size in cloud computing among all the other regions. Factors boosting growth include the rising focus of enterprises on flexible options with better internet connectivity. The presence of key players such as Cisco Systems Inc., Google Microsoft Corporation, IBM Corporation, and others also add to the market strength in the region. In the APAC region through technology spending is increased, the setback of the covid-19 is immense and thus the cloud adoption is forecasted to increase work from home initiatives.

Source: Fatpos Global

The Cloud Computing Market is further segmented by region into:

North America Market Size, Share, Trends, Opportunities-o-Y Growth, CAGR – the United States and Canada

Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America

Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe

APAC Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC

MENA Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA

Cloud Computing Market: Key players

Microsoft

Business Strategy

Key Product Offerings

Financial Performance

Key Performance Indicators

Risk Analysis

Recent Development

Regional Presence

SWOT Analysis

Google

IBM

SAP

Cloudbees

Capgemini

T-mobile

Vodafone

Nextiva

Tencent

The Cloud Computing Market report also contains analysis on:

Cloud Computing Market segments:-

By technology :

software as a service (SaaS)

infrastructure as a service (IaaS)

platform as a service (PaaS)

By deployment :

Private

public

hybrid cloud

By vertical :

banking financial services and insurance

healthcare and life sciences

IT and ITeS

retail and consumer goods

telecom

energy and utilities

government and public sector

manufacturing

By organization size

large enterprises

small enterprises

medium-sized enterprises

Cloud Computing Market dynamics

Cloud Computing Market size

Supply & Demand

Current Trends/Issues/Challenges

Competition & Companies Involved in the Market

Value Chain of the Market

Market Drivers and Restraints

FAQs on Cloud Computing Market

Which segment is anticipated to hold the largest market share

At what CAGR is the market anticipated to grow between 2020 and 2030

Who are the key players in the Cloud Computing Market

What could be the challenging factors for the growth of the Cloud Computing Market

What are the growth drivers for the Cloud Computing Market