Market Research Report
Cloud Services Market with COVID-19 Impact Analysis, By Services, By Deployment, By Workload, By Organization Size, By End-Use, and By Region - Size, Share, & Forecast from 2021-2027
|Cloud Services Market with COVID-19 Impact Analysis, By Services, By Deployment, By Workload, By Organization Size, By End-Use, and By Region - Size, Share, & Forecast from 2021-2027|
Published: May 1, 2021
AnalystView Market Insights
Content info: 284 Pages
Delivery time: 2-3 business days
The global cloud services market was valued at USD 277.1 billion by 2019, growing with 18.3% CAGR during the forecast period, 2021-2027.
Cloud service is a network of technology, in which a program or software is run and can be accessed from several computers or servers at the same time. The technology is a shift from the traditional computing approaches, allowing for newer and simpler methods of providing infrastructure, computing, and device layers. The growing adoption of cloud services in various industries including banking financial services & insurance, medical & healthcare, and education coupled with increasing technological advancement will promote the cloud service market growth.
In the covid-19 pandemic situation, many companies are protecting employee well-being and sustaining operating productivity, many businesses across verticals are embracing the work-from-home model, thereby surging the demand for Software-as-a-Service (SaaS)-based collaboration solutions. Due to the high demand for teamwork solutions, Microsoft Team app users have risen to approximately 44 million worldwide. In addition, the independent 8x8 Video Meetings cloud solution also saw a sudden rise in active users across 150 countries. Cisco Webex, Google Hangouts, Ding Talk, Slack, Tencent Meeting, Zoom, and WeChat Work are the prominent SaaS-based communication platforms that are gaining traction. Hence, such factors due to pandemic will boost the cloud service market growth.
An increase in the adoption of hybrid cloud services will create new opportunities for the market to grow. The hybrid cloud service gives companies flexibility by enabling them to move workloads between cloud systems as their demands and costs change. Enterprises of the current network are moving toward a cloud service platform and willing to obtain the hybrid approach to reap the benefits of cloud services and on-premises. Moreover, SMEs are increasingly turning to cloud computing services owing to their major benefits including on-demand availability of computing services and no initial infrastructure setup costs. These factors are contributing to hybrid cloud services becoming more common among businesses. Hence, this will further raise the adoption of cloud services and is anticipated to fuel the market growth in the forecasted timeframe.
In the cloud service market, North America is accounted to witness the highest growth during the forecast period. The growth is associated with the higher propensity to adopt new technologies coupled with the presence of key leading companies in the region such as Oracle Corporation, Microsoft Corporation, and IBM Corporation. The Asia Pacific is projected to have substantial growth opportunities. A few aspects driving cloud computing adoption in this region are the growing availability of skilled workers and the keen emphasis offered by SMEs and large companies to join and expand in this region. Public cloud providers have also gained in popularity in APAC as businesses look to improve their digital initiatives. Furthermore, the rapid growth of the telecommunication industry in India will also fuel the market growth in this region. In Europe, the growth is attributed to the technological advancement in the financial sector, thereby surge the adoption of hybrid cloud service in this region. The Middle East & Africa is anticipated to grow with significant growth owing to the increasing adoption of private cloud service in the healthcare and energy industries. Furthermore, increasing working populations and high initiative by the companies to provide work-from-home to their employees will also propel the market growth in this region.
Key features of the study:
This proposed research study on Cloud Services market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2020-2027), considering 2019 as the base year
The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for Cloud Services market
The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the Cloud Services market
Impact of COVID-19 on Cloud Services market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on Cloud Services market post-COVID will also be covered.
In order to give the users of this report a comprehensive view on the Cloud Services market, we have also included competitive landscape and key innovator analysis for the Cloud Services market.
The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and end-user's attractiveness.
The report offers detailed company profiling featuring major market participants which will help users to understand their financial information and strategic initiatives of players operating in the Cloud Services market.
In addition, the report also unveil the important acquisitions & mergers, collaborations & joint ventures, new application launch, research & development, regional expansion of major participants involved in the Cloud Services market on global as well as regional level.
The global Cloud Services market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL CLOUD SERVICES MARKET KEY PLAYERS
Amazon Web Services, Inc.
Cisco System, Inc.
Dell Technologies Inc.
Hewlett Packard Enterprise Development LP
International Business Machine (IBM) Corporation
Rackspace Hosting, Inc
GLOBAL CLOUD SERVICES MARKET, BY SERVICE
Infrastructure as a Service (IaaS)
Platform as a Service (PaaS)
Software as a Service (SaaS)
GLOBAL CLOUD SERVICES MARKET, BY DEPLOYMENT
GLOBAL CLOUD SERVICES MARKET, BY WORKLOAD
Photovoltaic (PV) Cells
Radio-frequency Identification (RFID) Tags
GLOBAL CLOUD SERVICES MARKET, BY ORGANIZATION SIZE
Small and Medium-sized Enterprises (SMEs)
GLOBAL CLOUD SERVICES MARKET, BY END-USE
IT & Telecom
Retail & Consumer Goods
Energy & Utilities
Government & Public Sector
Media & Entertainment
GLOBAL CLOUD SERVICES MARKET, BY REGION
Rest of Europe
Rest of APAC
Rest of LATAM
The Middle East and Africa
United Arab Emirates
Rest of MEA
List of Tables
List of Figures