PUBLISHER: The Business Research Company | PRODUCT CODE: 1470344
PUBLISHER: The Business Research Company | PRODUCT CODE: 1470344
Public cloud refers to a model of cloud computing services such as storage and applications, which is made available to the general public over the internet. Public cloud services may be free of cost or offered on a pay-per-usage model, making them highly flexible and scalable solutions for a wide range of users. Public cloud services are widely used across various sectors due to their efficiency, cost-effectiveness and ease of access.
The public cloud market consists of sales, by entities (organizations, sole traders and partnerships), of public clouds that include a broad spectrum of services and products, leveraged by different types of users ranging from individual consumers to large organizations. The services are used for varied purposes, from hosting websites and blogs to storing data and running enterprise applications. Public cloud services are integral in facilitating remote work, data analytics, machine learning and much more. The availability of complementary products like private and hybrid cloud services, as well as substitutes such as on-premises data centers, influences the market dynamics.
The global public cloud market was valued at $247.60 billion in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 18.0%.
Increasing Number Of Small And Medium-Sized Enterprises
The increasing number of small and medium-sized enterprises drove the growth of the public cloud market during the historic period. Small and medium-sized enterprises refer to businesses that fall within a certain size range in terms of their number of employees, annual revenue, or other relevant criteria. Public cloud services offer numerous benefits to small and medium-sized enterprises (SMEs) such as data storage, security, compliance and scalability for enhancing their operational efficiency, scalability and overall competitiveness. According to Oberlo, a Lithuania-based company that offers drop shipping tools, in 2022, the count of small businesses in the United States rose to 33.2 million, reflecting a 2.2% growth from the 32.5 million small businesses recorded in 2021. Therefore, the increasing number of small and medium-sized enterprises supported the growth of the public cloud market.
Launch Of Innovative Solutions With Focus On Hybrid Cloud Mesh
Major companies operating in the public cloud market are integrating their efforts in developing innovative solutions such as hybrid cloud mesh. A hybrid cloud mesh is a distributed IT system that combines elements of both public and private clouds, along with on-premises infrastructure, to create a flexible and interconnected environment. For example, in May 2023, International Business Machines Corporation, a US-based technology innovator company, announced the launch of the 'IBM Hybrid Cloud Mesh'. It is a SaaS (software-as-a-service) offering that is specifically designed to enable enterprises to control the management of their hybrid multi-cloud infrastructure. It helps to automate the process, observe the connectivity applications between private and public clouds and enhance the management required for operating the organization.
The global public cloud market is fairly concentrated, with a few large players operating in the market. The top ten competitors in the market made up to 31.38% of the total market in 2022.
Public Cloud Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global public cloud market as it emerges from the COVID-19 shutdown.
Where is the largest and fastest-growing market for public cloud? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The public cloud market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider public cloud market; and compares it with other markets.
Market Segmentation- Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by service, by organization size and by end-user market. Historic (2018-2023) and forecast (2023-2028) and (2028-2033) market values and growth and market share comparison by region market.