Public Cloud Market Forecasts to 2030 – Global Analysis By Deployment Model (Platform as a Service (PaaS), Software as a Service (SaaS) and Infrastructure as a Service (IaaS)), Organization Size (Small & Medium Enterprise and Large Enterprise), Applicatio

Public Cloud Market Forecasts to 2030 – Global Analysis By Deployment Model (Platform as a Service (PaaS), Software as a Service (SaaS) and Infrastructure as a Service (IaaS)), Organization Size (Small & Medium Enterprise and Large Enterprise), Application and By GeographyAccording to Stratistics MRC, the Global Public Cloud Market is accounted for $632.94 billion in 2023 and is expected to reach $2176.96 billion by 2030 growing at a CAGR of 19.3% during the forecast period. The term ""public cloud"" refers to an IT architecture where cloud service providers offer resources like computation and storage, applications, and develop-and-deploy environments to businesses and people on demand across open public networks. Where the physical infrastructure is typically owned and maintained by the provider, public clouds are available. They may offer either a dedicated or shared operating environment, with the advantages of accountability and the capacity to grow smoothly as needed. These services eliminate the need for upfront server purchases by providing attributes like infinite capacity, potentially appealing prices resulting from massive infrastructures and associated operational procedures, and a pay-as-you-go pricing approach.

According to the International Data Corporation (IDC) Worldwide Semi-annual Public Cloud Services Tracker, the number of companies moving to the cloud is increasing, with 73% of businesses moving the majority of their applications to the SaaS platform.

Market Dynamics:

Driver:

Integration of Big Data, AI, and ML with cloud

Organizations that provide cloud solutions and services are constantly concentrating on R&D initiatives, product updates, and new product launches due to the mix of big data, Al, and ML. Al can be used by IT workers to monitor and control crucial operations. Because they make it possible for users to monitor, analyze, and display raw data, these technologies are revolutionizing the public cloud industry. Businesses currently consume more data and have fewer storage difficulties because to the increased usage of ML and AL technology. These technologies also help businesses save operating expenses, boost productivity, and make better decisions. The expanding use of big data, AI, machine learning, and other technologies are predicted to fuel market expansion.

Restraint:

Lack of technical expertise

Organizations are accelerating the process of becoming digitally orientated by implementing cutting-edge technology to fully automate and simplify their business operations. Technical expertise on staff and efficient change management are now even more crucial for the smooth integration and operation of cloud services in businesses. Employee unwillingness to adapt to changes and increase their skill sets greatly hinders an organization's capacity to move. Due to rivals' potential large expenditures in modernizing their business practices and service offerings, these issues result in a skills shortage and may cause a corporation to become saturated.

Opportunity:

Accelerating digital adoption among enterprises

The market for public cloud services was primarily driven by the accelerated adoption of digital technologies by businesses, with the cloud serving as a key enabler. This is because adopting the cloud gives businesses the ability to increase operational efficiency and benefit from scalability, giving them a competitive edge. With more businesses focused on digital-first business strategies, the adoption of technologies like AI/ML, analytics, etc., and the creation of cloud-native applications are also projected to pick up steam in the coming years. The market is growing as a result of this growing digitalization component.

Threat:

High setup and maintenance costs

Large data sets can be expensive to store in cloud databases or data reservoirs. Because data movement is essential to cloud services' operation, more bandwidth is needed for them than for on-premises solutions. Due to the greater cost associated with this increased bandwidth demand, cloud services are often more expensive than alternatives provided on-premises. In addition, most cloud service providers charge a data egress cost if clients choose to migrate their data out from the cloud. Organizations must pay data egress expenses, which are sometimes quite expensive, to keep enterprises from deleting their data from the cloud where it now sits. The market demand is being hampered by this aspect.

Covid-19 Impact

The recent COVID-19 pandemic outbreak has had a significant impact on various economies worldwide. The national governments are placed in crisis mode, and industrial operations are temporarily paused. The COVID-19 consequences are significantly affecting the ICT sector and upsetting the electronics value chain puts products at danger of inflation. Following the COVID-19 disaster, remote working environments in tech-driven businesses are expected to reap the benefits of cloud computing for a considerable amount of time.

The software as a service (SaaS) segment is expected to be the largest during the forecast period

The software as a service (SaaS) segment is estimated to have a lucrative growth, due to its flexible pricing, simple maintenance, high compatibility, and business scale. A cloud computing service called ""software as a service"" (SaaS) gives customers access to a vendor's cloud-based applications. The proof-of-concepts are performed, and it is simple to utilize. According to industry estimates, more businesses are migrating to the cloud, with 73% of businesses shifting nearly all of their applications to SaaS platforms.

The small & medium enterprise segment is expected to have the highest CAGR during the forecast period

The small & medium enterprise segment is anticipated to witness the fastest CAGR growth during the forecast period, due to the flexible pricing models provided by CSPs, the increase in staff productivity, and the enhancement of cooperation and innovation. The SMEs play a crucial role in utilizing technology for a variety of purposes, including marketing, financial management, project management, and customer connection building. However, monitoring and optimizing expenses, establishing guidelines for its usage, and determining which cloud to employ to run certain applications are the main priorities for businesses embracing cloud computing.

Region with largest share:

North America is projected to hold the largest market share during the forecast period. It is anticipated that the presence of multiple suppliers in the region, including IBM Corporation, Amazon.com Inc., Oracle Corporation, Microsoft Corporation, and others, as well as a stronger inclination to embrace new technologies, will aid these areas in maintaining their market positions. Additionally, it is predicted that more than 50% of American government entities have implemented the services.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period. The regional market had a significant influence due to the fast rise of China and India as well as the emergence of local firms like the Alibaba Group. Additionally, hyper scale cloud providers like Azure, Amazon Web Services (AWS), and Google LLP are developing their data centers in countries like Indonesia and Thailand to accommodate the governments' demands for data sovereignty. The establishment of the Asia Cloud Computing Association, a regional forum including Cisco Systems, Rackspace, REACH, Telenor, EMC Corporation, NetApp, Nokia Siemens Networks, Microsoft, Alcatel-Lucent, Verizon, and PLDT/Smart as partners, is anticipated to spur regional development.

Key players in the market

Some of the key players profiled in the Public Cloud Market include Amazon Web Services, Inc., Alibaba Group Holding Limited, Adobe Inc., Cisco Systems, CenturyLink, Inc., OVHcloud, Rackspace Technology, Inc., Google LLC, Huawei Technologies Co., Ltd., IBM Corporation, DigitalOcean LLC, Microsoft Corporation, Joyent Inc., Oracle Corporation, Red Hat Inc., Salesforce.com Inc., Workday, Inc., SAP SE, NTT Communications Corporation and Fujitsu Limited.

Key Developments:

In June 2023, Amazon Web Services, Inc. (AWS) announced a new initiative to assist customers in effectively developinggenerative AI solutions called the AWS Generative AI Innovation Centre. This will pair its machine learning (ML) and AI professionals with global clients to assist with the conception, creation, and introduction of new generative AI products, services, and procedures.

In June 2023, Adobe announced Adobe Experience Cloud, which features strong generative AI advancements for enterprise businesses looking to boost productivity and personalize customer experiences. The new service powered by Adobe Sensei GenAI will be fully integrated across customer journey analytics, experience manager, and journey optimizer.

In June 2023, Microsoft Corporation announced new skills to aid organizations in managing and collecting more ESG data. Customers will soon have complete visibility into their environmental impact across carbon, water, and waste thanks to an expansion of Microsoft Sustainability Manager, a cloud for sustainability products.

In May 2023, SAP, the world leader in enterprise application software and cloud solutions, announced its support to transform Apollo Tyres Limited (ATL) into an intelligent, sustainable firm. It is going to assist Apollo Tyres Limited in putting its digital core onto the cloud.

In April 2023, Alibaba Cloud, the digital technology and intellectual backbone of Alibaba Group, unveiled its latest large language model, Tongyi Qianwen. Soon, the new AI model will be implemented across all of Alibaba's companies to enhance user experience cost-effectively.

Deployment Models Covered:
• Platform as a Service(PaaS)
• Software as a Service (SaaS)
• Infrastructure as a Service (IaaS)

Organization Sizes Covered:
• Small & Medium Enterprise
• Large Enterprise

Applications Covered:
• Government
• Banking, Financial Services & Insurance (BFSI)
• IT & Telecom
• Media & Entertainment
• Retail & Consumer Goods
• Automotive
• Manufacturing
• Healthcare
• Other Applications

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements