North America Professional Cloud Services Market - Growth, Trends, Covid-19 Impact, and Forecast(2022 - 2027)

North America Professional Cloud Services Market - Growth, Trends, Covid-19 Impact, and Forecast(2022 - 2027)

The North America Professional Cloud Services Market is anticipated to grow with a CAGR of 15% during the forecast period (2021 - 2026). This is due to the early adoption of cloud-based networks in the regional market. The crunch in resources to create in-house facilities and the increasing incidence of BYOD are helping the North American market generate the highest revenue. The initial adoption of cloud computing has been driven primarily by financial factors, such as lower capital expenditures.

Key Highlights

• The need to maintain employees' safety during COVID-19 has forced many corporations to change their regulations and policies. The foremost cause of the business disruption was the inability to move the workforce and coordinate HR as earlier. The inability to travel and cross borders and social distancing have forced businesses to change their current ways of functioning and reconsider operational choices.
• Reduction in CapEx spending and IT management complexity coupled with the ability to deploy new applications faster are the primary drivers for cloud adoption. These factors are helping companies adopt cloud based platforms. Modern, multi-tenant cloud platform services allow thousands of customers to use the same resources. This result in saving a lot of manpower and the expenses involved with it.
• The presence of Google, the most successful cloud operator which has proven the viability of large scale, Web-based applications provided from the cloud and Microsoft, now moving to offering its services on a cloud-based platform is one of the core drivers to this market in North America.
• Performance related issues coupled with data security concerns are the major challenges being faced by this industry. Recent technological advances however are striving to rectify these problems and ensure that the companies can concentrate on their core competencies. The North American Cloud professional services market is segmented into four major categories.

Key Market TrendsHybrid Cloud is Expected to Have High Growth in the Market

• A hybrid cloud is a combination of a public cloud provider, such as Google Cloud, Amazon web services with a private cloud, i.e., designed to be used by a single organization. By allowing workloads to move between public and private clouds, as computing needs and costs change, hybrid cloud has led businesses to achieve greater flexibility and more data deployment options.
• Currently, many organizations of any size, be it small or large are transforming from traditional to digital modes of business. This transformation is creating a market for hybrid cloud because of the benefits provided like reduced total cost of ownership (TCO), high security, flexibility, and agility. IBM stated that 89% of IT leaders expect to move business-critical workloads to Cloud and all are driven by the growth in digitization.
• Moreover, Cisco predicted that by 2021, 73% of the cloud workloads and compute instances will be in public cloud data centers, up from 58% in 2016 (CAGR of 27.5% from 2016 to 2021). This huge growth is going to be a catalyst for the hybrid cloud services market.

United States is Anticipated to Hold the Largest Market

• The United States dominates the cloud services market growth. The region has been the early adaptor of the cloud computing services. In addition, this region has showed its willingness to embrace cloud services technology in every sector.
• The IT sector has already adopted this technology. The emerging sector for cloud computing services in the North America region is the healthcare sector.
• The cloud computing services are adopted mainly in the data recording and keeping in both clinical as well as non-clinical information. The region holds a market share of 47.1% in 2020 for the Cloud Professional Services Market, and the demand for cloud professional services is expected to be high in the near future.
• The primary factors for large-scale adoption are the inclination of organizations toward SaaS-based offerings and adoption of digital business strategies.

Competitive Landscape

The Competitive Landscape of the market is fragmented. The market has been experiencing a number of market launches due to the increasing use of On-premises and Private cloud for personal and organizational purposes. Some of the recent developments of the market are as follows:-

• May 2021- Fujitsu announced a Strategic Collaboration Agreement with Amazon Web Services, Inc. (AWS), an Amazon.com company, to accelerate the digital transformation (DX) of the mobility industry. This collaboration will position Fujitsu as an important player in accelerating DX and expanding business for companies in the mobility industry including automobile manufacturers, insurance providers, and logistics companies.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

Cisco Systems, Inc.
Hewlett Packard Enterprise Company
Cognizant
Accenture PLC
Dell EMC
Microsoft Corporation
Fujitsu Limited
Capgemini SE
Infosys Limited
Nippon Data Systems Ltd.
HCL Technologies Limited
Oracle Corporation
NTT Data
Atos SE
SAP SE

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