Global Cloud Computing Market is expected to reach USD $ 545 Bn

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Global Cloud Computing Market – Overview:

Cloud computing is the practice of sharing network of remote servers, which are hosted on the internet to store, process, share, and manage data rather than on a local server or a personal computer. It specifically refers to a common storage space through which all the devices in the network can access data simultaneously. The use of cloud computing technology not only provides cost benefits but also makes data accessible to all devices in the network at any time and from any location. The cloud storage is a practice of storing data on shared remote servers that are hosted through the internet instead of the conventional local servers or personal computers. In a cloud environment, the servers can be accessed by all the devices that are in the network through a secure gateway. The global cloud services market share was valued at USD 208.0 billion in 2013, and is expected to reach USD 545 billion by 2020, growing at a CAGR of 16.6% during the forecast period 2014‐2020.

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Global Cloud Computing – Drivers and Restraints:

The global cloud computing services market is driven by many factors. The most important factor, which is driving the market, is the cost effectiveness. With the deployment of cloud computing services, organizations can save more than 35% of the annual operating costs. The other factor includes all the functional capabilities, which boost up the business performances of the organizations. In addition, substantial increase in the number of small and medium enterprises will eventually lead to the increased adoption of cloud services. The adoption of Public and hybrid models of the cloud are relatively limited due to the threat of data breaches and data leakages. The information that is stored in these clouds can be accessed by the subscribers, such information, therefore, can be easily breached and misused. Solving the security issues would therefore be of utmost importance. The securitization of these stored data is extremely important as this factor can affect the market adversely if the problem persists.

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Global Cloud Computing – Geographical Segmentation:

The Cloud Computing Market is geographically segmented into North America, Europe, Asia Pacific and LAMEA. North America is the significant region of the global with the presence of key players and the early adoption of cloud services in different industries.

Major Key Players in Global Cloud Computing:

The major players of Cloud Computing market are Amazon Web Services (AWS) Microsoft, IBM, Aliyun, Google Cloud Platform, Rackspace, SAP, Oracle, Vmware, DELL, EMC, INSPUR and Salesforce.

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