PUBLISHER: Allied Market Research | PRODUCT CODE: 1414697
PUBLISHER: Allied Market Research | PRODUCT CODE: 1414697
According to a new report published by Allied Market Research, titled, "Cloud Computing Services Market," The cloud computing services market was valued at $398.85 billion in 2022, and is estimated to reach $2044.6 billion by 2032, growing at a CAGR of 18.1% from 2023 to 2032.
Factors such as
1) rising demand of cloud computing services to enhance business operation and the growing usage of mobile devices are driving the growth of global market. In addition, surge in technological advancements and increasing investments by top players, which in turn is expected to create numerous opportunities for the growth of the cloud computing services market. However, data privacy and security concerns and costs and budget constraints hamper the growth of the market. Furthermore, rise in demand of cloud services in developing region and growth in serverless computing and function-as-a-service (FaaS), creates lucrative opportunities for cloud computing services during the forecast period. Moreover, increasing digitalization and work from policy (WFH), are expected to propel the growth of the market in the coming years.
The cloud computing services market is segmented into type, enterprise size, end-use, and region. The report provides information on various types including infrastructure as a service (IaaS), platform as a service (PaaS), and software as a service (SaaS). In addition, it is categorized by different enterprise size such as
1) large enterprises and small & medium-sized enterprises. The details of the end-use namely BFSI, IT & telecommunication, retail and consumer goods, healthcare, government & public sector, and others are also provided in the report. In addition, it analyzes the current market trends across different regions such as
1) North America, Europe, Asia-Pacific, and LAMEA.
The market players operating in the cloud computing services market are Microsoft Corporation, Google, LLC, VMware, Inc., IBM Corporation, Alibaba Cloud, Oracle Corporation, SAP SE, Salesforce, Inc., Atos Corporation, and Amazon Web Services, Inc. These major players have adopted various key development strategies such as
1) business expansion, new product launches, and partnerships, which help to drive the growth of the cloud computing services market globally.
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