Cloud Computing Market Overview:
Cloud computing is what every organization today is hoping to foray into or has forayed into head down. Simply put, it is the sharing of network of remote servers, hosted on the internet that can be used to store, process, share and manage data instead of a local server. And this data can be accessed at any time across locations and by multiple people at once. The cloud computing market can be divided into public cloud, community cloud, private cloud and hybrid cloud. Depending on the type of service it provides it can be segmented as platform as a service (PaaS), infrastructure as service (IaaS) and software as a service (SaaS).
Cloud Computing Market Size:
The global cloud computing market is touted to grow from USD xx billion in 2018 to USD xx billion by 2025, growing at a CAGR of xx%.
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Cloud Computing Market Growth Factors, Drivers and Restraints:
The increasing acceptance of consumers and organizations alike for a cloud-based framework, involvement of more and more SME’s into the world of cloud computing, growing focus on streamlining work by doing away with hardware-based applications, and moving to the more agile and flexible processes has increased the prevalence of cloud computing by a varied margin. The market for cloud computing is vast, with organizations around the world imploring its many benefits. Few of its many functional capabilities include economic benefits, data protection, data location independence, secure interfaces, etc. There is no necessity of installing and upgrading the current organizations technology to be able to use cloud services as we see with the case google cloud (Drive). However, data security is of concern to many organizations because it is common belief that in-house data centres are safer than a virtual cloud. In spite of it all, cloud computing is still sought after by big and small businesses. Few of the mammoth firms implementing this technology are Google, Apple, IBM, Amazon etc.
Not only does cloud computing provide business flexibility and efficient management of all systems across multiple locations across all time lines, it also helps track the access and monitor usage. The use of cloud computing is not only cost effective but its also extremely efficient. Its known to reduce operating costs by over 35% over a period of time. With the end user segment growing from private organizations to public and education, banking, financial and including the government bodies, the global cloud computing market is growing extensively and shows no sign of a slowdown.
Cloud Computing Market Geographical Segmentation:
Geographically Cloud Computing Market is segmented into North America, South America, Asia Pacific, Europe and Middle East and Africa respectively.
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Cloud Computing Market Key Players:
Some of the major companies operating in Cloud Computing Market are IBM, AWS, Microsoft, Google, Aliyun, Salesforce, Rackspace and more.
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