The Global Cloud Computing Market Size is growing with the rapid pace. According to a recent study report published by the Market Research Future, the global market of cloud computing will grow moderately over the forecast period. The market is forecasted to witness slow but steady growth by 2027, which will be a surplus growth at a moderate CAGR during the projected period (2017 -2027).
Cloud is simply another word for the public internet. Drawing diagrams of large-scale computer networks, planners and system administrators often use a fluffy cloud to represent the internet, either outside the corporate networks, or as a link between far-flung systems. Owing to the enormous application possibilities with the merger of consumer electronics and the internet, an increasing number of companies are venturing into the digital commerce platform market. Many companies plan to follow the suit in the near future, making the competitive landscape further fragmented. There are a few companies such as Hybris AG, IBM Corporation, and Oracle Corporation which hold a position of strength and are continuously expanding into potentially.
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The cloud computing market is predominantly driven by the factors such as growing demand for technologically upgraded services, growing expansion of professional and managed services and increasing awareness about cost-effective cloud services among others. Additionally, as the global technology, Cloud Computing offers significant cost effective solutions in comparison with traditional in-house systems for data storage. Cloud based data storage services are increasingly adopted in all sort of enterprises across the industries, which in turn fostering the market traction of Cloud Computing Market.
However, data security is the key restrain for the growth of cloud computing market as organizations believe that their data is more secure in the in-house data centers rather than on a virtual cloud network. Especially, the small and medium scale organizations are more sceptical about cloud technology, which leads to low adoption rate of the technology. The biggest challenge for the growth in the adoption rate of the cloud computing technology is to increase the awareness about its security aspects.
Industry/ Innovation/ Related News:
November 12, 2017 – IBM released IBM Cloud Private, a Hybrid Cloud Computing Platform Using Kubernetes and Cloud Foundry. IBM Cloud Private, a platform designed to enable companies to create on-premises cloud capabilities similar to public clouds, with the goal of accelerating "cloud native" application development and supporting modernisation of existing applications running on IBM technology such as WebSphere Liberty, Db2 and MQ. The new platform is built on the open source Kubernetes-based container platform, and supports deployment of applications as Docker containers within all of the offering price tiers, and the deployment of applications via Cloud Foundry using the optional add-on within the "Cloud Native" and "Enterprise" tiers.
November, 2017 – Salesforce and Google formed new global strategic Partnership. The partnership deal will see the former's CRM service integrated directly into G Suite's productivity apps. The deal will see Google Cloud take the mantle of "preferred public cloud" for Salesforce as well as the cloud provider for an international expansion the CRM SaaS developer is planning to make. Additionally, the partnership will include integration of the Salesforce.com CRM service with Google's G Suite software and a free one-year G Suite subscription for Salesforce customers. The companies will also deeply integrate Salesforce with Google Analytics, seamlessly connecting sales, marketing and advertising data across Salesforce Sales Cloud, Salesforce Marketing Cloud and Google Analytics 360, for the first time.
December 05, 2017 – The management of Tata Communications stated that they plan to invest $20-25 milion (Rs 130 – 160 cr) in its cloud computing business by end of CY18. According to the management, the size of the global market for cloud computing stands at $200bn and the domestic market stands at $1.5bn. The management expects the domestic cloud computing market to grow between 30-32% CAGR over the next few years.
November, 2017 – Business software heavyweights Microsoft (MSFT) and SAP (SAP) announced that they are expanding their cloud computing partnership and have agreed to use each other's cloud products internally. Microsoft said it will use SAP's S/4 HANA database to help run its internal finance processes, replacing older SAP software. SAP said it will run more than a dozen of its business-critical systems on Microsoft's Azure cloud platform.
Cloud Computing Market: Regional Analysis:
North America leads the market for global cloud computing market size, because of strong adoptability rate of new technology in the developed country of the U.S., massive existing base of digital media users in the country has been powered by the ubiquity of smartphones and broadband internet services. Europe occupies the second place in the global cloud computing market followed by Asia Pacific.
China's IaaS cloud market forecast has been increased to account for anticipated higher buyer demand over the forecast period. In particular, the larger pure-play IaaS providers in China, as well as other telecom-related cloud providers driving this market, are reporting significant growth. While China's cloud service market is nascent and several years behind the U.S. and European markets, it is expected to maintain high levels of growth as digital transformation becomes more mainstream over the next five years
Cloud Computing Market – Segmentation
The Global Cloud Computing Market is segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Service Type: Comprises Software as a service (SaaS), Platform as a service (PaaS), and Infrastructure as a service (IaaS) among others.
Segmentation by Cloud Type: Comprises Private cloud, Public cloud, Hybrid cloud and Community cloud among others
Segmentation by Application: Comprises Government, Banking, Healthcare, retail, Manufacturing, automotive among others.
Segmentation by Regions: Comprises Geographical regions – North America, Europe, APAC and Rest of the World.
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