Cloud Computing Industry Data Book Covers Public Cloud, Private Cloud, and Hybrid Cloud Market
The global Cloud Computing Industry generated over USD 483.97 billion in 2022 and is expected to grow at a CAGR of 14.1% over the forecast period.
Grand View Research’s cloud computing industry database is a collection of market sizing information & forecasts, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research.
Access the Global Cloud Computing Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies
Public Cloud Market Growth & Trends
The global public cloud market size was valued at USD 171.39 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 13.1% from 2023 to 2030. Higher application density, lower costs, and increasing efficiency are prominent factors driving demand for the public cloud industry. Moreover, due to economies of scale, public cloud providers can charge less for their services. Applications hosted in the public cloud can boost businesses' productivity. Businesses run more apps on fewer servers, which increases productivity and lowers costs. Businesses can quickly launch new applications or services using the public cloud compared to their infrastructure.
Businesses from all sectors utilize dependable frameworks, services, and controls to benefit from innovative new technologies in the cloud. In addition, organizations and entire economies worldwide are increasingly adopting the cloud. For instance, in April 2022, Accenture launched Sovereign Cloud Practice to increase innovation in the Cloud. Accenture Cloud First Sovereign Practise currently has new sovereign cloud facilities in Germany, Kronberg, Trondheim, Norway, Rome, and Paris. Sovereign cloud is a strategy that enables businesses to manage their data storage location, its accessibility, and how it is processed in a cloud environment in response to newly emerging industry standards and regulatory regulations in certain jurisdictions or industries. These centers, housed within Accenture Innovation Hubs, bring together industry, security, and technology experts from Accenture with partners from the ecosystem to speed up the digitization of corporate processes and reveal new data cooperation opportunities.
An increasing number of startups are concentrating on company improvement and expansion, which calls for large initial funding to create these resources. The demand for public cloud services is rising quickly because, in most cases, these services are provided at very low costs. In addition, the public cloud market is anticipated to grow as a result of the rise of enterprise trends such as, Choose Your Own Device (CYOD), Bring Your Own Device (BYOD), Artificial Intelligence (AI), and Internet of Things (IoT). Due to the pay-as-you-go service, no maintenance expenses, infrastructure initiatives, or long-term contracts are required for this service. These factors are anticipated to fuel the expansion of the public cloud market.
Order your copy of the Free Sample of “Cloud Computing Industry Data Book - Public Cloud, Private Cloud and Hybrid Cloud Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research
Private Cloud Market Growth & Trends
The global private cloud market was valued at USD 222.30 billion in 2022 and is expected to grow at a CAGR of 14.7% over the forecast period from 2023 to 2030. Businesses with variable networks frequently use the private cloud to ensure access and total control over the cloud environment. Enterprises are adopting a private cloud due to the necessity for data protection and compliance with the shifting regulatory environment. Companies aim to lower CAPEX while concentrating on business transformation projects that improve organizational agility.
Enterprises are increasingly adopting private cloud infrastructure due to the high volume of sensitive data they produce. Companies can better understand customer behavior and create new goods and services by analyzing patterns in real-time data. Hence, enterprises are continuously adopting private cloud infrastructure.
Vendors are continuously adopting various growth strategies to increase their presence in the market. For instance, in March 2022, Adobe announced the development of the ecosystem with new partners and tools. Through the launch of Adobe Experience Cloud, its private cloud network, the company started offering developers new tools for creating and deploying cloud-based apps that integrate seamlessly across its products. The extensive ecosystem of tech partners for Adobe includes FedEx, Anaplan, OneTrust, Walmart, PayPal, and The Weather Company, an IBM Business.
Competitive Landscape
Key players operating in the Cloud Computing industry are:
- Adobe Inc.
- Alibaba Group Holding Ltd.
- Amazon, Inc.
- Google LLC
- International Business Machines Corp.
- Microsoft Corporation
- Oracle Corporation
- Salesforce, Inc.
- SAP SE
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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