PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1251606
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1251606
Global Public Cloud Market is valued at approximately USD 277.8 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 14.6% over the forecast period 2022-2029.Public Cloud is a deployment cloud model where public cloud service providers make computing and storage, development and deployment, and applications accessible on demand to individuals and organizations over the public internet. In this model, the computing resources are operated and owned by the provider itself and are then shared via the internet. The emerging adoption of IoT techniques, artificial intelligence (AI), machine learning (ML) and edge computing among several industries is boosting the market demand. Additionally, the increasing trend of digitalization among industries and rising penetration of the internet is driving the demand of the Public Cloud market.
The increasing digitalization among industries is fueling the demand for public cloud. For instance, the worldwide spending on digital transformation in 2022 is USD 1.6 trillion and is projected to reach nearly USD 3.4 trillion by 2026. The boost in this computing technology is due to the rising adoption of Artificial Intelligence (AI) and Machine Learning (ML), as AI and ML complement Public Cloud. The demand for Public Cloud services continues due to the rising penetration of the Internet. India was ranked 2nd in terms of internet users. The internet penetration rate went up from 4% in 2007 to 47% in 2021. Therefore, public cloud services enable individuals and organizations to store and secure their data safely over the Internet. Moreover, the continuous advancements and formulation, and increasing adoption of cloud computing technologies by several industries are playing a major role in surging the demand for Public Cloud globally. However, the high data security threats and privacy concerns stifle market growth of Public Cloud throughout the forecast period of 2022-2029.
The key regions considered for the Global Public Cloud Marketstudy includes Asia Pacific, North America, Europe, Latin America, and Rest of the World.North America dominated the market for Public Cloud services with a total share of 49%. The adoption of new technologies by various market players is boosting the demand in this region. The increasing digitalization and adoption of cloud storage services are driving the market demand. Companies such as Microsoft Corporation, Amazon.com Inc, and IBM Corporation are helping this region in maintaining this position. Asia-Pacific is anticipated to be the fastest-growing region over the forecast region.Changing lifestyles, urbanization and increasing penetration of internet among the users are fueling the market demand.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporatespotential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Service offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of figures
List of tables and figures and dummy in nature, final lists may vary in the final deliverable