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Market Research Future (MRFR)’s assessment report highlights that the global cloud engineering market is set to expand at a CAGR of 21% during the forecast period 2017 to 2023. According to the report, the global market’s valuation is expected to reach USD 13 Bn mark by the end of the review period. Cloud computing is penetrating across major industry verticals which are anticipated to dominate the growth pattern of the market in the years to come. The intensified demand for cloud computing has paved the way for the adoption of engineering applications in cloud technology for addressing issues of standardization, commercialization, etc.
Cloud engineering provides a systematic approach for supporting business models leveraging cloud services. It has backed the growth of the services such as "platform as a service," "software as a service," and "infrastructure as a service." Business organizations are shifting towards cloud-based offerings to maximize gains. This, in turn, is anticipated to boost the growth trajectory of the cloud engineering market in the upcoming years.
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Emphasis is placed on the technological innovations for the achievement of organizational goals while facing the challenges. The proliferation of the technology across end-users such as healthcare, retail, BFSI, etc. are poised to catapult the cloud engineering market on an upward trajectory over the next couple of years.
By Service Type, the global cloud engineering market has been segmented into training and education, cloud security, consulting, design, integration, migration, cloud storage, and others.
By deployment, the cloud engineering market has been segmented into private, and hybrid.
By end-users, the global cloud engineering market has been segmented into IT & telecommunications, BFSI, healthcare, energy & utilities, retail, government, and others.
By organization size, the cloud engineering market has been segmented into small, medium, and large.
global cloud engineering market companies profiled in this MRFR report are Trianz (US), GFT Technologies SE (Europe), Sogeti (Europe), Aricent Inc. (US), Rapidvalue Solutions Inc. (US), ITC Infotech India Ltd. (India), Engineering Ingegneria Informatica SpA (Europe), Calsoft Inc. (US), VVDN Technologies (India), Softcrylic LLC (US), Nitor Infotech (India), and Searce Inc. (US),
By region, the global cloud engineering market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America is anticipated to exhibit robust growth over the assessment period. The growth can primarily be ascribed to the developed IT infrastructure of the region that facilitates early implementation of the technologies. Also, the region is flocked by the global leaders of the cloud engineering market such as Rapidvalue Solutions Inc., Trianz, and Softcrylic LLC among others. The consolidation of these major market participants is expected to provide a competitive edge to the regional market. The report suggests that the market is forecasted to witness an influx of new participants and inflow of investments. This, again, has been prognosticated to lead the growth of the cloud engineering market across the projection period.
In February 2019, JPMorgan, an American multinational investment bank and financial services company, is executing its plan of establishing a cloud engineering hub in Seattle.
In November 2018, The National Science Foundation (NSF), has signed a new cooperative agreement with a nonprofit computer networking consortium, Internet2. The agreement is aimed at building partnerships with providers of commercial cloud computing services and supporting science applications in new uses of cloud computing capabilities.
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