Public Cloud Market is Booming Thanks to Rapidly Expanding Application Area and Increasing Number of New Entrants

Global public cloud market size is expected to reach USD 649.62 billion by 2028, from USD 242.73 billion in 2021, at a CAGR of 15.10% during the forecast period. (2022–2028).

Westford, USA, Aug. 03, 2022 (GLOBE NEWSWIRE) -- As the world becomes more digitized, the demand for public cloud services is growing at an unprecedented rate. Public cloud providers such as Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform (GCP) are seeing huge increases in adoption and usage. This growth of the public cloud market is being driven by the many benefits of public cloud, including increased agility, flexibility, and scalability. With public cloud, businesses can quickly deploy new applications and services without having to invest in expensive infrastructure. They can also scale up or down rapidly as needed, without incurring any additional costs.

As per recent findings by SkyQuest, around 78% of IT professionals are dependent on some kind of public cloud computing for their daily work.  43% of enterprises now use the public cloud and more than 80% of organizations are planning to expand their public cloud infrastructure. The public cloud now accounts for around one-third of all enterprise IT infrastructure spending. And that figure is only going to grow in the years to come, with SkyQuest forecasting that public cloud spending will reach $649 billion by 2028.

The flexibility and scalability of public cloud are particularly appealing to small and medium-sized businesses that don't have the resources to invest in their own on-premises infrastructure. For these businesses, public cloud provides a cost-effective way to access the latest technology and keep pace with larger competitors.

The demand for public cloud services is being further fueled by the rise of Internet of Things (IoT) devices and big data analytics. These new technologies generate large amounts of data that need to be stored and processed somewhere, and public cloud is often the most efficient option.

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Merger and Acquisition to Top the Chart

According to a recent study by SkyQuest, merger and acquisition activities are on the rise in public cloud market. This trend is being driven by a number of factors, including the growing maturity of the cloud market, the need for scale, and the desire to consolidate.

The study, which was conducted by SkyQuest found that there have been a total of 18 major public cloud mergers and acquisitions so far in 2022. This compares to just 12 in 2021 and 10 in 2020. Following are some of the key developments in 2022.

  • In July 2022, Foley planned to acquire
  • In July 2022, Provdotnet acquired U.S.-based cloud operations and infrastructure assets of CloudSigma
  • In July 2022, Ensono announced its plan to acquire AndPlus for data engineering cloud expertise
  • In July 2022, Nexion acquired Aiscorp and Silicon Systems, cloud service providers, for $8.9 million
  • In February 2022, IBM acquired consulting firm of Microsoft Azure for undisclosed sum

So why are we seeing this increase in activity?

One of the main reasons is that the public cloud market is now much more mature than it was a few years ago. This has led to more consolidation as companies look to increase their scale and market share. Another factor is that many companies now see the public cloud as a strategic asset and are willing to pay premium prices to acquire firms that can help them grow their presence in this space.

Finally, there is also an increasing recognition that the public cloud can be used to drive cost savings and efficiencies within an organization. This is leading many firms to look at consolidating their multiple cloud providers into a single platform.

SkyQuest has prepared a report on public cloud market that provide in depth analysis of merger and acquisition activities taken place in the market and its profound impact on the existing and well-established players. The report provides complete analysis of company profiles and their recent developments, SWOT analysis and growth strategies they are undertaking to overcome the challenges posed by their competitors.

AWS Rekognition and Azure Cognitive Services are more Focused on Machine Learning and AI

AWS Rekognition and Azure Cognitive Services offer different benefits to developers when it comes to adding machine learning and AI capabilities to their applications. Both services are cloud-based and provide APIs that can be used to build smart applications. AWS Rekognition is a fully managed service that makes it easy to add powerful machine learning features as per end-users’ applications and requirements. It offers a wide range of features for image and video analysis, including facial recognition, object detection, and scene understanding. Rekognition also offers integration with other AWS services, making it easy to build complete solutions on the AWS platform.

Azure Cognitive Services is a collection of AI services that allows developers to add intelligent features to their applications. It includes services for vision, speech, language, and decision-making. Azure Cognitive Services is hosted on Microsoft Azure and offers pay-as-you-go pricing.

Both AWS Rekognition and Azure Cognitive Services offer strong machine learning and AI capabilities. However, they are each better suited for different types of applications. For instance, AWS Rekognition is more focused on image analysis. It offers a wide range of image-processing algorithms, including support for Amazon SageMaker, which allows developers to train and deploy machine-learning models. Azure Cognitive Services is more focused on video analysis. It offers powerful video-indexing capabilities and integrates with the Azure Media Services platform.

SkyQuest has published a report on public cloud market. It primarily covers how these two services are performing in the market and what are the factors such as consumer preferences, applications, and organization size are influencing their growth in the market. The report also provides pricing analysis, potential consumer matric, competitive analysis, market dynamics, trends about the public cloud market.

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Increasing Collaboration in Public Cloud Market to Run Serverless Application

Global public cloud market is poised to grow at a CAGR of over 15% during the forecast period. Wherein, the growth is majorly being driven by the growing demand for public cloud computing for running serverless applications. Serverless applications are event-driven, and they automatically scale up or down based on demand, making them perfect for use cases that are unpredictable or have sporadic traffic patterns. They're also composed of microservices, which makes them easier to develop and deploy.

AWS Lambda is one such platform, and it's gaining popularity due to its ease of use and features that make it ideal for serverless applications. In order to increase collaboration in the public cloud market and take advantage of the growing trend of serverless applications, it's important for companies to partner with each other. For example, AWS Lambda has partnered with several companies, including Disney, Adobe, and Capital One, to help them develop and deploy their serverless applications.

A recent survey by SkyQuest found that public cloud users are struggling to keep up with the pace of change, with nearly 60% of respondents saying they are not able to fully exploit the potential of their public cloud deployments. This is largely due to the lack of collaboration between different teams within an organization.

In line with this, major public cloud providers are coming together to ease the challenges that their end users are facing. For example, AWS and Azure have partnered up to provide a seamless experience for developers who want to use both platforms. This includes the ability to run serverless applications on both platforms with a single codebase.

In addition, GCP has also partnered with AWS and Azure to provide a serverless platform called Cloud Functions. This platform allows developers to write code in any language and have it automatically deployed across all three clouds.

SkyQuest has analyzed how the public cloud market is changing with increasing number of collaborations. The report is prepared after considering the impact of collaboration on the market and its future growth trajectory. Considering this, the report covers a detailed account of collaboration being taken place and its profound impact market forecast, market dynamics, and pricing.

Tightening Security in Public Cloud Market

As public cloud services continue to grow in popularity, concerns over security and compliance are increasing. While the cloud offers many advantages in terms of cost and flexibility, it also introduces new risks that must be managed.

Organizations are taking steps to ensure that their data and applications are secure in the cloud, and that they are compliant with relevant regulations. This can be a challenge, as the shared responsibility model means that both the provider and the customer are responsible for different aspects of security.

In order to protect their customers, providers in the global public cloud market are now starting to implement stricter security measures. For instance, many are now requiring two-factor authentication for all users, as well as imposing stricter access controls. Some providers are also beginning to offer additional services such as malware scanning and DDoS protection. These added features can help to further mitigate the risks associated with using the public cloud.

Organizations are also tightening security compliance standards for their employees. They are requiring employees to use strong passwords, two-factor authentication, and other methods to secure their accounts. In addition, they are educating employees about how to identify and report suspicious activity. By taking these measures, enterprises can help to protect their data and their business operations.

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Prominent Players in Global Public Cloud Market

  • AWS (US)
  • Microsoft (US)
  • Alibaba Cloud (China)
  • IBM (US)
  • Salesforce (US)
  • Google (US)
  • Oracle (US)
  • SAP (Germany)
  • Mendix (US)
  • Zoho Corporation (India)

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