Cloud Computing Market by Service Model (Infrastructure as a Service, Platform as a Service, and Software as a Service), Deployment Mode, Organization Size, End User (BFSI, Retail, and Healthcare), and Geography

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Cloud Computing Market by Service Model (Infrastructure as a Service, Platform as a Service, and Software as a Service), Deployment Mode, Organization Size, End User (BFSI, Retail, and Healthcare), and Geography-Global Forecast to 2031.

The research report titled, 'Cloud Computing Market by Service Model (Infrastructure as a Service, Platform as a Service, and Software as a Service), Deployment Mode, Organization Size, End User (BFSI, Retail, and Healthcare), and Geography-Global Forecast to 2031,' provides an in-depth analysis of the global cloud computing market across five major geographies and emphasizes on the current market trends, market sizes, market shares, recent developments, and forecasts till 2031.

The global cloud computing market is projected to reach $1,638.4 billion by 2031, at a CAGR of 16.8% from 2024 to 2031.

The growth of this market is driven by the increasing adoption of cloud computing services, personalized customer experience, rising demand for AI, and increasing adoption of technologies such as ML and IoT. However, data security & privacy concerns may restrain the market's growth. The rising government initiatives and consistently rising adoption of cloud computing solutions among businesses are expected to offer significant growth opportunities for the cloud computing market. Moreover, the complexities associated with adopting the multi-cloud model are anticipated to present challenges to the expansion of the cloud computing market. Recent trends in the global cloud computing market include the increasing popularity of cloud gaming and the adoption of serverless computing.

The cloud computing market is segmented by service model (infrastructure as a service, platform as a service, and software as a service), deployment mode (public cloud, private cloud, and hybrid cloud), organization size (large enterprises, small & medium enterprises), end user (BFSI, healthcare, IT and telecom, government & public sector, retail, manufacturing, energy & utilities, media & entertainment, and other end users). The study also evaluates industry competitors and analyzes the market at the regional and country levels.

Based on service model, the cloud computing market is segmented into infrastructure as a service, platform as a service, and software as a service. In 2022, the software as a service segment accounted for the largest share of the global cloud computing market. The large market share of this segment is attributed to the rising adoption of cloud computing services, increasing preferences for SaaS delivery models, and growing demand for AI. Additionally, the benefits offered by software as a service, such as flexible costs, easy maintenance, and easy deployment further augment the growth of this segment. This segment is projected to register the highest CAGR during the forecast period.

Based on deployment mode, the cloud computing market is segmented into public cloud, private cloud, and hybrid cloud. In 2022, the public cloud segment accounted for the largest share of the global cloud computing market. The rising work-from-home culture and growing reliance on public cloud services among SMEs for effective management are expected to drive the growth of this segment. However, the hybrid cloud segment is projected to register the highest CAGR during the forecast period. Hybrid cloud solutions help businesses by providing agility, IT optimization, and scope for innovation with changing business demands.

Based on organization size, the cloud computing market is segmented into large enterprises and small & medium enterprises. In 2022, the large enterprise segment accounted for the larger share of the global cloud computing market. The large market share of this segment is attributed to the high spending capabilities of large enterprises resulting in the increased adoption of cloud computing models and the availability of skilled IT personnel for the management of cloud platforms. Additionally, major enterprises prioritize specific cloud computing channels to enhance customer retention, drive sales growth, and implement strategic measures to mitigate market disruptions. However, the small & medium enterprises segment is slated to register the higher CAGR during the forecast period.

Based on end user, the cloud computing market is segmented into BFSI, healthcare, IT & telecom, government & public sector, retail, manufacturing, energy & utilities, media & entertainment, and other end users. In 2022, the BFSI segment accounted for the largest share of the global cloud computing market. The large market share of this segment is attributed to the rising penetration of mobile devices; growing adoption of public cloud in the BFSI sector; increase in the reliability of enterprises on web-based solutions; and a growing number of fin-tech start-ups demanding cloud-based solutions. However, the healthcare sector is slated to register the higher CAGR during the forecast period.

Based on geography, the cloud computing market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2022, North America accounted for the largest share of the global cloud computing market. North America's major market share is attributed to the presence of prominent cloud computing companies such as Microsoft Corporation (U.S.), IBM Corporation (U.S.), and Oracle Corporation (U.S.). In addition, the high adoption rate of cloud computing solutions to enhance IT infrastructure and leverage the benefits of new technologies, such as AI, contributes to the growth of this regional market.

However, Asia-Pacific is projected to record the fastest growth rate during the forecast period. The high market growth in Asia-Pacific is driven by the rapid growth rate of developing economies, rapidly developing data centers, and the growing awareness about the importance of cloud computing among small & medium-sized organizations.

Key Players:

The key players operating in the global cloud computing market are Microsoft Corporation (U.S.), IBM Corporation (U.S.), Oracle Corporation (U.S.), Amazon Web Services, Inc. (U.S.), SAP SE (Germany), Google LLC (U.S.), Salesforce, Inc. (U.S.), Workday, Inc. (U.S.), Alibaba Group Holding Limited (China), VMware, Inc. (U.S.), DXC Technology (U.S.), Nutanix, Inc. (U.S.), Cisco Systems, Inc. (U.S.), ZYMR, INC. (U.S.), and SAS Institute, Inc. (U.S.).

Key questions answered in the report-

Which are the high growth market segments in terms of service model, deployment mode, organization size, and end user?
What is the historical market size for cloud computing across the globe?
What are the market forecasts and estimates for 2024-2031?
What are the major drivers, restraints, opportunities, challenges, and trends in the global cloud computing market?
Who are the major players in the global cloud computing market, and what are their market shares?
How is the competitive landscape?
What are the recent developments in the global cloud computing market?
What are the different strategies adopted by the major players in the market?
What are the geographic trends and high growth countries?
Who are the local emerging players in the global cloud computing market, and how do they compete with other players?

Scope of the Report:

Cloud Computing Market, by Service Model

Infrastructure as a Service
Platform as a Service
Software as a Service

Cloud Computing Market-by Deployment Mode

Public Cloud
Private Cloud
Hybrid Cloud

Cloud Computing Market-by Organization Size

Large Enterprise
Small & Medium Enterprises

Cloud Computing Market-by End User

BFSI
Healthcare
IT & Telecom
Government & Public Sector
Retail
Manufacturing
Energy & Utilities
Media & Entertainment
Other End Users

Cloud Computing Market, by Geography

North America
- U.S.
- Canada
Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- Australia
- Indonesia
- Malaysia
- Rest of Asia-Pacific
Latin America
Middle East & Africa

Product Code: MRICT - 104732

1. Introduction

1.1 Market Definition
1.2 Scope of the Study
1.3 Global Cloud Computing Market Ecosystem
1.4 Currency & Limitations
- 1.4.1 Currency
- 1.4.2 Limitations
1.5 Key Stakeholders

2. Research Methodology

2.1 Research Approach
2.2 Data Collection & Validation
- 2.2.1 Secondary Research
- 2.2.2 Primary Research
2.3 Market Assessment
- 2.3.1 Market Size Estimation
  - 2.3.1.1 Bottom-up Approach
  - 2.3.1.2 Top-down Approach
  - 2.3.1.3 Growth Forecast
- 2.3.2 Market Share Analysis
2.4 Assumptions for the Study

3. Executive Summary

3.1 Market Analysis, by Service Model
3.2 Market Analysis, by Deployment Mode
3.3 Market Analysis, by Organization Size
3.4 Market Analysis, by End User
3.5 Market Analysis, by Geography
3.6 Competitive Analysis

4. Impact of COVID-19 on the Cloud Computing Market

5. Market Insights

5.1 Introduction
5.2 Market Dynamics
- 5.2.1 Drivers
  - 5.2.1.1. Increasing Adoption of Technologies Such as ML and IoT
  - 5.2.1.2. Increase in Adoption of Cloud computing Services
  - 5.2.1.3. Rising Demand For AI
- 5.2.2 Restraints
  - 5.2.2.1. Data Security & Privacy Concerns
- 5.2.3 Opportunities
  - 5.2.3.1. Rising Government Initiatives for Cloud Adoption
  - 5.2.3.2. Consistently Rising Adoption of Cloud Computing Solutions Among Businesses
- 5.2.4 Challenges
  - 5.2.4.1. High Complexity Due to the Adoption of the Multi-Cloud Model
- 5.2.5 Trends
  - 5.2.5.1. Technology Trend
  - 5.2.5.2. Market Trend
5.3 Case Studies
- 5.3.1 Case Study - 1
- 5.3.2 Case Study - 2
- 5.3.3 Case Study - 3

6. Cloud Computing Market, by Service Model

6.1 Introduction
6.2 Infrastructure as a Service
6.3 Platform as a Service
6.4 Software as a Service

7. Cloud Computing Market, by Deployment Mode

7.1 Introduction
7.2 Public Cloud
7.3 Private Cloud
7.4 Hybrid Cloud

8. Cloud Computing Market, by Organization Size

8.1 Introduction
8.2 Large Enterprises
8.3 Small & Medium Enterprises

9. Cloud Computing Market, by End User

9.1 Introduction
9.2 BFSI
9.3 Healthcare
9.4 IT and Telecom
9.5 Government & Public Sector
9.6 Retail
9.7 Manufacturing
9.8 Energy & Utilities
9.9 Media & Entertainment
9.10 Other End Users

10. Cloud Computing Market, by Geography

10.1 North America
- 10.1.1 U.S.
- 10.1.2 Canada
10.2 Europe
- 10.2.1 Germany
- 10.2.2 U.K.
- 10.2.3 France
- 10.2.4 Italy
- 10.2.5 Spain
- 10.2.6 Rest of Europe
10.3 Asia-Pacific
- 10.3.1 China
- 10.3.2 Japan
- 10.3.3 India
- 10.3.4 South Korea
- 10.3.5 Singapore
- 10.3.6 Rest of Asia-Pacific
10.4 Latin America
10.5 Middle East & Africa

11. Cloud Computing Market: Competitive Landscape

11.1 Introduction
11.2 Key Growth Strategies
- 11.2.1 Market Differentiators
- 11.2.2 Synergy Analysis: Major Deals & Strategic Alliance
11.3 Competitive Dashboard
- 11.3.1. Industry Leader
- 11.3.2. Market Differentiators
- 11.3.3. Vanguards
- 11.3.4. Contemporary Stalwarts
11.4 Vendor Market Positioning
11.5 Market Share Analysis

12. Company Profiles (Business Overview, Financial Overview, Product Portfolio, and Strategic Developments)

12.1 Microsoft Corporation (U.S.)
12.2 IBM Corporation (U.S.)
12.3 Oracle Corporation (U.S.)
12.4 Amazon Web Services, Inc. (U.S.)
12.5 SAP SE (Germany)
12.6 Google LLC (U.S.)
12.7 Salesforce, Inc. (U.S.)
12.8 Workday, Inc. (U.S.)
12.9 Alibaba Group Holding Limited (China)
12.10 VMware, Inc. (U.S.)
12.11 DXC Technology (U.S.)
12.12 Nutanix, Inc. (U.S.)
12.13. Cisco Systems, Inc. (U.S.)
12.14 ZYMR, INC. (U.S.)
12.15 SAS Institute, Inc. (U.S.)

13. Appendix

13.1 Questionnaire
13.2 Available Customization