Westford, USA, Feb. 06, 2024 (GLOBE NEWSWIRE) -- According to SkyQuest, the rapid adoption of cloud services has been propelled by a confluence of key factors in the cloud services market. One pivotal catalyst has been the widespread availability of robust and scalable cloud infrastructure, making it increasingly convenient for businesses to transition their operations to the cloud.
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Browse in-depth TOC on the "Cloud Services Market"
- Pages - 157
- Tables - 62
- Figures – 77
The availability of shared computing services and the escalating demand for global information and communication technology (ICT) skills offer desirable growth prospects for businesses in emerging regions. These two interrelated factors create a fertile ground for expansion within the cloud services market.
Report Scope & Segmentation:
| Attributes | Details |
| Market Size in 2022 | USD 484.23 Billion |
| 2030 Value Projection | USD 1435.99 Billion |
| CAGR | 16.8% |
| Forecast Period | 2023-2030 |
| Segments Covered |
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| Regions Covered |
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Prominent Players in the Cloud Services Market
- Amazon Web Services (AWS)
- Microsoft Azure
- Google Cloud Platform
- Alibaba Cloud
- IBM Cloud
- Salesforce
- Oracle Cloud
- SAP Cloud Platform
- VMware Cloud
- Rackspace
- Adobe Experience Cloud
- ServiceNow
- Cisco Cloud Services
- Dell Technologies Cloud
- Hewlett Packard Enterprise (HPE) Cloud
- Box
- Dropbox
- Red Hat OpenShift
- Tencent Cloud
- Fujitsu Cloud
- NTT Communications Cloud
- CenturyLink Cloud
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Hybrid Deployment Segment is Expected to Grow in the Market Due to Increasingly Prevalent across Diverse Industries
Hybrid deployment segment characterized by its integrated environment featuring both public and private models, is poised for substantial growth in the cloud services market. This trend is increasingly prevalent across diverse industries.
The markets in North America emerged as the unsurpassed leader, exerting dominance by contributing over 39.45% of the cloud services market revenue. This commanding position is a testament to the North American corporate sector's unwavering commitment to digital transformation.
Private Deployment Segment is Expected to Dominate the Market Due to their Provision of Computational Capabilities
An impressive 45.90% of the total revenue was attributed to the private deployment segment, solidifying its position as the dominant contributor. Private clouds, distinguished by their provision of computational capabilities within a private network or internet environment with limited accessibility, have emerged as a critical resource for businesses in the cloud services market.
Regional markets in the Asia Pacific are poised to witness the most impressive CAGR in the market, highlighting its status as a burgeoning powerhouse in the cloud services market. This rapid expansion can be attributed to the remarkable economic growth experienced by countries such as China and India and the emergence of influential local enterprises such as the Alibaba Group.
A comprehensive analysis of the major players in the cloud services market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
Key Developments in the Cloud Services Market
- In 2022, Oracle made a significant announcement by introducing Oracle ME, an innovative employee experience platform designed to empower companies to enhance employee engagement and ensure their overall success. Integrated into Oracle Fusion Cloud Human Capital Management (HCM), Oracle ME represents a pivotal tool for HR and business management. Its primary objective is to bolster talent retention by fostering a workplace environment that is not only welcoming but also rooted in trust and transparency.
- Microsoft Corporation unveiled Azure Health Data Services in 2022, marking a substantial advancement in cloud-based healthcare solutions. This platform as a service (PaaS) was carefully designed to accommodate analytical and transactional workloads within the healthcare sector.
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Key Questions Answered in Cloud Services Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market's future growth?
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