Cloud Services Market By Component (Solution, Services), By Type (Infrastructure as a Service (IaaS), Platform as a Service (PaaS), Software as a Service (SaaS), Others), By Deployment Model (Private Cloud, Public Cloud, Hybrid), By Enterprise Size (Large Enterprises, Small and Medium Enterprises), By Application (Asset Management, Customer Relationship Management (CRM), Enterprise Resource Management (ERP), Supply Chain Management (SCM), Project and Portfolio Management, Business Intelligence, Others), By Industry Vertical (BFSI, IT and Telecom, Government, Media and Entertainment, Healthcare, Manufacturing, Oil and Gas, Metals and Mining, Petrochemicals, Energy and Utilities, Pulp and Paper, Agriculture, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
The term cloud services refer to a wide range of services delivered on demand to companies and customers over the internet. These services are designed to provide easy, affordable access to applications and resources, without the need for internal infrastructure or hardware. From checking email to collaborating on documents, most employees use cloud services throughout the workday, whether they’re aware of it or not. Cloud services are fully managed by cloud computing vendors and service providers. They’re made available to customers from the providers' servers, so there's no need for a company to host applications on its own on-premises servers.
The most important factor, which is driving the global cloud services market, is the cost-effectiveness. With the deployment of cloud services organizations can save more than 35% of their annual operating costs. The other factor includes all the functional capabilities which boost the business performances of the organizations. However, data security is the key restrain for the growth of the cloud services market as organizations believe that their data is more secure in in-house data centers as compared to a virtual cloud network. The other limiting factors are the data location and data administration, which need to be properly worked out in order to increase the revenue of the market. The opportunity for cloud services market lies in the developing economies as they have gradually grown to become the hub for IT services, one of the largest target segments for cloud services. In addition, substantial increase in the number of small and medium enterprises will eventually lead to the increased adoption of cloud services in such regions.
The cloud services market is segmented into component, type, deployment model, enterprise size, application and industry vertical, and region. By component, the market is differentiated into solution and services. By type, the market is segmented into infrastructure as a service, platform as a service, software as a service, and others. Depending on deployment model, it is fragmented into private cloud, public cloud and hybrid cloud. By enterprise size, the market is differentiated into large enterprises and smes. By application, the market is segmented into asset management, customer relationship management, enterprise resource management, supply chain management, project and portfolio management, business intelligence, and others. Depending on industry vertical, it is segmented into BFSI, IT and telecom, government, media and entertainment, healthcare, manufacturing, oil and gas, metal and mining, petrochemicals, energy and utilities, pulp and paper, agriculture, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The cloud services market analysis includes top companies operating in the market such as Alibaba Group Holding Limited, Amazon Web Services, Cisco Systems Inc., Dell Inc., Google LLC, Hewlett Packard Enterprise Development LP, International Business Machines Corporation, Microsoft, Oracle, and RACKSPACE TECHNOLOGY. These players have adopted various strategies to increase their market penetration and strengthen their position in the accounting and budgeting cloud industry.
KEY BENEFITS FOR STAKEHOLDERSThe study provides in-depth analysis of the global cloud services market along with current trends and future estimations to illustrate the imminent investment pockets.
Information about key drivers, restrains, & opportunities and their impact analysis on the global cloud services market size are provided in the report.
The Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
The quantitative analysis of the global cloud services market from 2021 to 2031 is provided to determine the market potential.
Key Market SegmentsBy Industry VerticalBFSI
IT and Telecom
Government
Media and Entertainment
Healthcare
Manufacturing
Oil and Gas
Metals and Mining
Petrochemicals
Energy and Utilities
Pulp and Paper
Agriculture
Others
By ComponentSolution
Services
By TypeInfrastructure as a Service (IaaS)
Platform as a Service (PaaS)
Software as a Service (SaaS)
Others
By Deployment ModelPrivate Cloud
Public Cloud
Hybrid
By Enterprise SizeLarge Enterprises
Small and Medium Enterprises
By ApplicationAsset Management
Customer Relationship Management (CRM)
Enterprise Resource Management (ERP)
Supply Chain Management (SCM)
Project and Portfolio Management
Business Intelligence
Others
By RegionNorth America
U.S.
Canada
Europe
UK
Germany
France
Italy
Spain
Netherlands
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Singapore
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
Alibaba Group Holding Limited
Cisco Systems Inc.
Dell Inc.
International Business Machines Corporation
Oracle
RACKSPACE TECHNOLOGY
Amazon Web Services
Google LLC
Microsoft
Hewlett Packard Enterprise Development LP
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