Public Cloud Market Size, Share, and Analysis, By Service (Infrastructure as a Service, Platform as a Service, and Software as a Service), By Enterprise Size (Large Enterprises and Small & Medium-Sized Enterprises), By Vertical (BFSI, IT & Telecom, Retail

Public Cloud Market Size, Share, and Analysis, By Service (Infrastructure as a Service, Platform as a Service, and Software as a Service), By Enterprise Size (Large Enterprises and Small & Medium-Sized Enterprises), By Vertical (BFSI, IT & Telecom, Retail & Consumer Goods, Manufacturing, Energy & Utilities, Healthcare, Media & Entertainment, Government & Public Sector, and Others), By Region (North America, Europe, Asia-Pacific, and Rest of the World), And Regional Forecast 2024-2034

Public Cloud Market Size, Share, and Analysis, By Service (Infrastructure as a Service, Platform as a Service, and Software as a Service), By Enterprise Size (Large Enterprises and Small & Medium-Sized Enterprises), By Vertical (BFSI, IT & Telecom, Retail & Consumer Goods, Manufacturing, Energy & Utilities, Healthcare, Media & Entertainment, Government & Public Sector, and Others), By Region (North America, Europe, Asia-Pacific, and Rest of the World), And Regional Forecast 2024-2034

PRODUCT OVERVIEW

Public Cloud Market is forecasted to demonstrate a Compound Annual Growth Rate (CAGR) of 17.6% during the forecast span from 2024 to 2034. In 2023, the market size was assessed at USD 552 billion and is projected to reach USD 3291.7 billion by the completion of 2034.

Public cloud is a type of cloud computing service that is provided by third-party providers over the internet. In this model, computer resources such as virtual machines, storage, and applications are hosted on the provider's infrastructure and consumers are charged on a per-user basis. In addition, users can access these resources remotely with the help of the internet, thus allowing them to scale resources up or down based on their needs without having to maintain actual infrastructure. These cloud services provide benefits such as flexibility, scalability, and cost-effectiveness, as customers only pay for the resources they use. Furthermore, public cloud services relieve enterprises of the work of managing and maintaining complicated IT infrastructure, which allows them to focus on their business objectives. Therefore, businesses can easily manage their IT infrastructure and adjust to evolving demands by using public cloud services of reliable providers such as Amazon Web Services, Microsoft Azure, and Google Cloud Platform.

MARKET HIGHLIGHTS

Public Cloud Market is expected to reach USD 3291.7 billion during the forecast period, driven by the vast global adoption of cloud-based services across various industries. This growth is due to the rising demand for scalable and affordable computing solutions, along with the fast pace of digital transformation initiatives among businesses. Public cloud market is dominated by industry leaders like Amazon Web Services, Microsoft Azure, and Google Cloud Platform, which provide enormous infrastructure and service offerings that are well-suited to meet the needs of various customers. Furthermore, the integration of modern technologies such as edge computing and artificial intelligence is boosting the adoption of public cloud services across diverse industries. Thus, the public cloud market is anticipated to grow as companies transfer more workloads to the cloud to enhance their efficiency. Consequently, this will drive competition for better services among providers and present lucrative opportunities for those in the industry.

Public Cloud Market Segments:

• By Service
• Infrastructure as a Service
• Platform as a Service
• Software as a Service
• By Enterprise Size
• Large Enterprises
• Small & Medium-Sized Enterprises
• By Vertical
• BFSI
• IT & Telecom
• Retail & Consumer Goods
• Manufacturing
• Energy & Utilities
• Healthcare
• Media & Entertainment
• Government & Public Sector
• Others

MARKET DYNAMICS

Growth Drivers

Growing Need for Digital Transformation is Expected to Promote Market Growth

Emerging Markets and Industry Verticals Will Contribute to the Adoption of Public Clouds

Restraint

Security and Compliance Concerns Could Restrict the Growth of the Public Cloud Market

Key Players

• Amazon Web Services (AWS)
• Microsoft Azure
• Google Cloud Platform (GCP)
• IBM Cloud
• Oracle Cloud
• Alibaba Cloud
• Salesforce Cloud
• VMware Cloud
• Rackspace Technology
• DigitalOcean
• SAP Cloud Platform
• Tencent Cloud
• Hewlett Packard Enterprise (HPE) Cloud
• Red Hat OpenShift
• Dropbox Business
• Other Prominent Players (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)

Global Laboratory Temperature Control Units Market is further segmented by region into:

• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAG.R – United States and Canada
• Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
• Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
• Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA

Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• 3-month post-sales analyst support.

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