Cloud Computing Market by Service Model (Infrastructure as a Service, Platform as a Service, Software as a Service), Solution (Collaboration & Productivity Suites, Customer Relationship Management, Human Capital Management), Infrastructure, Workload, Deployment, Organization Size, Industry - Global Forecast 2024-2030
The Cloud Computing Market size was estimated at USD 524.76 billion in 2023 and expected to reach USD 604.16 billion in 2024, at a CAGR 15.22% to reach USD 1,414.98 billion by 2030.
Cloud computing refers to computing services, including servers, storage, databases, networking, software, analytics, and artificial intelligence, over the Internet. Cloud computing enables organizations to access and utilize IT resources efficiently and effectively. Cloud computing transforms the way businesses operate by offering flexibility, cost savings, enhanced collaboration, and improved security. The increase in digitalization across various end-use sectors and the inclination of businesses toward cloud-based solutions due to their cost-effectiveness and scalability are accelerating the use of cloud computing solutions. Implementing advanced technologies and automation across industrial verticals propels the demand for cloud computing services. However, interoperability issues between different platforms and a lack of technical expertise in managing complex cloud environments may impede their adoption by organizations worldwide. In addition, expanding cloud infrastructure through increased investment from private and government entities is anticipated to encourage the deployment of cloud computing solutions across businesses globally.
Regional Insights
The adoption of cloud computing solutions is increasing in the Americas, primarily due to the presence of major providers driving innovation and expanding their infrastructure capacity to cater to rising demands from industries such as finance, healthcare, retail, and government entities. Furthermore, regulatory compliance requirements encourage businesses to adopt private or hybrid cloud solutions in the Americas region. The APAC region is witnessing significant adoption of cloud computing solutions owing to the rapid digital transformation, increasing internet penetration, and a growing number of SMEs leveraging technology-based services. Local governments' initiatives to promote digital infrastructure development serve as a catalyst for market growth in this region. The inclination of industries and business organizations toward Industry 4.0 in EMEA has stimulated strong demand for advanced IT resources and data storage capacities that can be delivered through cloud services. The presence of major IT companies provides the potential for organizations in the EMEA region to adopt cloud computing solutions seamlessly. Additionally, the growing emphasis of countries worldwide on economic diversification strategies has increased investments in data center construction projects, amplifying the potential for cloud computing expansion.
Market Insights
- Market Dynamics
The market dynamics represent an ever-changing landscape of the Cloud Computing Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.- Market Drivers
- Rising shift to remote work and the need for seamless collaboration tools
- Government initiatives supporting cloud computing technologies and services
- Increasing use of IoT and big data propelling generation of high volume data
- Market Restraints
- Technical complexities caused by downtime and issues of vendor lock-in period
- Market Opportunities
- Introduction of advanced hybrid, edge, and multi-cloud strategies in IT environments
- New investments in large-scale cloud computing data centers worldwide
- Market Challenges
- Concerns associated with data security and privacy breach
- Market Segmentation Analysis
- Service Model: Growing digitalization inclining businesses toward cloud-based solutions
- Solution: Collaboration & productivity suites have emerged as an essential tools for improving team communication and efficiency
- Infrastructure: Infrastructure services address specific needs of organizations including data preservation and data protection
- Workload: Extensive popularity of hypervisor & edge computing, storage, backup & disaster recovery across end-user industries
- Deployment: Integration of private cloud for enabling users to control data privacy and security
- Organization Size: Emerging use of cloud computing by small & medium enterprises worldwide to ensure secure storage of data
- Industry: Shift of the healthcare and BFSI industry to cloud computing due to its high scalability
- Market Disruption Analysis
- Porter’s Five Forces Analysis
- Value Chain & Critical Path Analysis
- Pricing Analysis
- Technology Analysis
- Patent Analysis
- Trade Analysis
- Regulatory Framework Analysis
The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Cloud Computing Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Cloud Computing Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Recent Developments- Microsoft announces USD 3.2 billion investment in Australia's AI and cloud computing infrastructure
Microsoft has announced its plan to invest USD 3.2 billion in Australia's AI and cloud computing infrastructure over the next two years. The objective of this investment is to significantly increase computing capacity within Australia by 250%. These investments focus on expanding the computing infrastructure and providing skills development and cyber security enhancements.
Google Cloud Partners With Decentralized Oracle
Supra, a provider of decentralized oracle solutions, announced a strategic partnership with Google Cloud in the context of cloud computing. This partnership opens up new opportunities for Supra to leverage the global network, data centers, and computing power of Google Cloud. As a result, Supra gained access to premium APIs and data sources, allowing for faster and more accurate price feeds for various assets and markets, including cryptocurrencies, stocks, commodities, and forex.
Crusoe Announces Significant Expansion of Cloud Business with New Capacity and USD 200M in New Financing
Crusoe Energy Systems LLC announced a substantial expansion of its cloud business. With the addition of new capacity and secured financing for GPU purchases, Cruose is committed to reducing the environmental impact of computing while providing AI customers with a reliable, sustainable, and cost-effective solution. This development represents a significant milestone in the growth journey of Cruose's AI solutions and is part of a substantial investment of USD 200 million.
The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Cloud Computing Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
Key Company Profiles
The report delves into recent significant developments in the Cloud Computing Market, highlighting leading vendors and their innovative profiles. These include Accenture PLC, Adobe Inc., Alibaba Group Holding Limited, Amazon Web Services, Inc., AT&T Inc., Atos SE, Box, Inc., Broadcom Inc., Cisco Systems, Inc., Citrix Systems, Inc., Cockroach Labs, Inc., Dassault Systèmes SE, Dell Inc., DigitalOcean Holdings, Inc., DreamHost, LLC, Dropbox, Inc., Fujitsu Limited, Google LLC by Alphabet Inc., Hewlett Packard Enterprise Development LP, Huawei Technologies Co., Ltd., Intel Corporation, International Business Machines Corporation, Lenovo Group Limited, Microsoft Corporation, NEC Corporation, NetApp, Inc., NTT Communications Corporation, Nutanix, Inc., NVIDIA Corporation, Oracle Corporation, Rackspace Technology, Inc., Rubrik International, Inc., Salesforce Inc., SAP SE, ServiceNow, Inc., SoftBank Group, Tencent Holdings Ltd., Workday, Inc., and Zoho Corporation Pvt. Ltd..
Market Segmentation & Coverage
This research report categorizes the Cloud Computing Market to forecast the revenues and analyze trends in each of the following sub-markets:- Service Model
- Infrastructure as a Service
- Platform as a Service
- Software as a Service
- Solution
- Collaboration & Productivity Suites
- Customer Relationship Management
- Human Capital Management
- Supply Chain Management
- Infrastructure
- Archiving
- Computing
- Disaster Recovery & Backup
- Primary Storage
- Workload
- Application Development & Testing
- Business Analytics
- Collaboration & Content Management
- Database Management
- Enterprise Resource Management
- Hypervisor & Edge computing
- Integration & Orchestration
- Storage, Backup & Disaster Recovery
- Deployment
- Hybrid Cloud
- Private cloud
- Public cloud
- Organization Size
- Large Enterprises
- Small & Medium-sized Enterprises
- Industry
- Aerospace & Defense
- Automotive & Transportation
- Banking, Financial Services & Insurance
- Building, Construction & Real Estate
- Consumer Goods & Retail
- Education
- Energy & Utilities
- Government & Public Sector
- Healthcare & Life Sciences
- Information Technology
- Manufacturing
- Media & Entertainment
- Telecommunication
- Travel & Hospitality
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Georgia
- Illinois
- Massachusetts
- New Jersey
- New York
- North Carolina
- Ohio
- Pennsylvania
- Texas
- Washington
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
Please Note: PDF & Excel + Online Access - 1 Year
- Americas
- Market Drivers
- 1. Preface
- 1.1. Objectives of the Study
- 1.2. Market Segmentation & Coverage
- 1.3. Years Considered for the Study
- 1.4. Currency & Pricing
- 1.5. Language
- 1.6. Stakeholders
- 2. Research Methodology
- 2.1. Define: Research Objective
- 2.2. Determine: Research Design
- 2.3. Prepare: Research Instrument
- 2.4. Collect: Data Source
- 2.5. Analyze: Data Interpretation
- 2.6. Formulate: Data Verification
- 2.7. Publish: Research Report
- 2.8. Repeat: Report Update
- 3. Executive Summary
- 4. Market Overview
- 5. Market Insights
- 5.1. Market Dynamics
- 5.1.1. Drivers
- 5.1.1.1. Rising shift to remote work and the need for seamless collaboration tools
- 5.1.1.2. Government initiatives supporting cloud computing technologies and services
- 5.1.1.3. Increasing use of IoT and big data propelling generation of high volume data
- 5.1.2. Restraints
- 5.1.2.1. Technical complexities caused by downtime and issues of vendor lock-in period
- 5.1.3. Opportunities
- 5.1.3.1. Introduction of advanced hybrid, edge, and multi-cloud strategies in IT environments
- 5.1.3.2. New investments in large-scale cloud computing data centers worldwide
- 5.1.4. Challenges
- 5.1.4.1. Concerns associated with data security and privacy breach
- 5.2. Market Segmentation Analysis
- 5.2.1. Service Model: Growing digitalization inclining businesses toward cloud-based solutions
- 5.2.2. Solution: Collaboration & productivity suites have emerged as an essential tools for improving team communication and efficiency
- 5.2.3. Infrastructure: Infrastructure services address specific needs of organizations including data preservation and data protection
- 5.2.4. Workload: Extensive popularity of hypervisor & edge computing, storage, backup & disaster recovery across end-user industries
- 5.2.5. Deployment: Integration of private cloud for enabling users to control data privacy and security
- 5.2.6. Organization Size: Emerging use of cloud computing by small & medium enterprises worldwide to ensure secure storage of data
- 5.2.7. Industry: Shift of the healthcare and BFSI industry to cloud computing due to its high scalability
- 5.3. Market Trend Analysis
- 5.3.1. Technological advancements and vigorous competition among market giants supported by the government initiatives augment cloud computing across the Americas
- 5.3.2. Rapid digitization efforts supported by government programs to create opportunities for cloud computing providers to cater to businesses from small-scale startups to large-scale enterprises
- 5.3.3. Expansion of global cloud computing companies across EMEA backed by public-private support and an evolving regulatory landscape
- 5.4. Cumulative Impact of High Inflation
- 5.5. Porter’s Five Forces Analysis
- 5.5.1. Threat of New Entrants
- 5.5.2. Threat of Substitutes
- 5.5.3. Bargaining Power of Customers
- 5.5.4. Bargaining Power of Suppliers
- 5.5.5. Industry Rivalry
- 5.6. Value Chain & Critical Path Analysis
- 5.7. Regulatory Framework Analysis
- 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 Solution
- 7.1. Introduction
- 7.2. Collaboration & Productivity Suites
- 7.3. Customer Relationship Management
- 7.4. Human Capital Management
- 7.5. Supply Chain Management
- 8. Cloud Computing Market, by Infrastructure
- 8.1. Introduction
- 8.2. Archiving
- 8.3. Computing
- 8.4. Disaster Recovery & Backup
- 8.5. Primary Storage
- 9. Cloud Computing Market, by Workload
- 9.1. Introduction
- 9.2. Application Development & Testing
- 9.3. Business Analytics
- 9.4. Collaboration & Content Management
- 9.5. Database Management
- 9.6. Enterprise Resource Management
- 9.7. Hypervisor & Edge computing
- 9.8. Integration & Orchestration
- 9.9. Storage, Backup & Disaster Recovery
- 10. Cloud Computing Market, by Deployment
- 10.1. Introduction
- 10.2. Hybrid Cloud
- 10.3. Private cloud
- 10.4. Public cloud
- 11. Cloud Computing Market, by Organization Size
- 11.1. Introduction
- 11.2. Large Enterprises
- 11.3. Small & Medium-sized Enterprises
- 12. Cloud Computing Market, by Industry
- 12.1. Introduction
- 12.2. Aerospace & Defense
- 12.3. Automotive & Transportation
- 12.4. Banking, Financial Services & Insurance
- 12.5. Building, Construction & Real Estate
- 12.6. Consumer Goods & Retail
- 12.7. Education
- 12.8. Energy & Utilities
- 12.9. Government & Public Sector
- 12.10. Healthcare & Life Sciences
- 12.11. Information Technology
- 12.12. Manufacturing
- 12.13. Media & Entertainment
- 12.14. Telecommunication
- 12.15. Travel & Hospitality
- 13. Americas Cloud Computing Market
- 13.1. Introduction
- 13.2. Argentina
- 13.3. Brazil
- 13.4. Canada
- 13.5. Mexico
- 13.6. United States
- 14. Asia-Pacific Cloud Computing Market
- 14.1. Introduction
- 14.2. Australia
- 14.3. China
- 14.4. India
- 14.5. Indonesia
- 14.6. Japan
- 14.7. Malaysia
- 14.8. Philippines
- 14.9. Singapore
- 14.10. South Korea
- 14.11. Taiwan
- 14.12. Thailand
- 14.13. Vietnam
- 15. Europe, Middle East & Africa Cloud Computing Market
- 15.1. Introduction
- 15.2. Denmark
- 15.3. Egypt
- 15.4. Finland
- 15.5. France
- 15.6. Germany
- 15.7. Israel
- 15.8. Italy
- 15.9. Netherlands
- 15.10. Nigeria
- 15.11. Norway
- 15.12. Poland
- 15.13. Qatar
- 15.14. Russia
- 15.15. Saudi Arabia
- 15.16. South Africa
- 15.17. Spain
- 15.18. Sweden
- 15.19. Switzerland
- 15.20. Turkey
- 15.21. United Arab Emirates
- 15.22. United Kingdom
- 16. Competitive Landscape
- 16.1. Market Share Analysis, 2023
- 16.2. FPNV Positioning Matrix, 2023
- 16.3. Competitive Scenario Analysis
- 16.3.1. Microsoft announces USD 3.2 billion investment in Australia's AI and cloud computing infrastructure
- 16.3.2. Google Cloud Partners With Decentralized Oracle
- 16.3.3. Crusoe Announces Significant Expansion of Cloud Business with New Capacity and USD 200M in New Financing
- 16.3.4. Blockchain mining platform Pacminer has announced a collaborative investment of USD 50 million to enhance substantial mining pools and cloud computing infrastructure within the Ghanaian region.
- 16.3.5. Nuvepro partners with upGrad; claims to empower 50,000 students with Cloud Computing education
- 16.3.6. Google Launches Three New Cloud Storage Options: Cloud Storage FUSE, Parallelstore, NetApp Volumes
- 16.3.7. NetApp and Google Cloud Introduce Managed Storage Service to Revolutionize Enterprise Workloads in the Cloud
- 16.3.8. Broadcom's USD 69 Billion Acquisition of VMware Approved by UK Regulators
- 16.3.9. Digiboxx Launches New Cloud Storage Solution for Enterprises, Individuals
- 16.3.10. Akamai launches new sites, services and capabilities
- 16.3.11. Ideal Integrations Expands Cloud Computing and Cybersecurity Portfolio with Acquisition of thinkCSC
- 16.3.12. DigitalOcean acquires cloud computing startup Paperspace for USD 111M in cash
- 16.3.13. AWS commits USD 12.7 billion investment in Indian Cloud Infrastructure, plans to create over 130,000 jobs
- 16.3.14. American Cloud Debuts Launch With Plans to Reshape Modern Cloud Computing
- 16.3.15. Kyndryl and Cisco to Collaborate on Network and Edge Computing Solutions for Enterprise Customers
- 16.3.16. Fluence Announces Cloud Computing Services Agreement with Amazon Web Services
- 16.3.17. Cloud computing and virtualization company Citrix to be acquired for USD 16.5 billion
- 17. Competitive Portfolio
- 17.1. Key Company Profiles
- 17.2. Key Product Portfolio
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