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Global Public Cloud Market, By Cloud Computing (Cloud Billing, Cloud Communication Platform, Cloud Access Security, Cloud High Performance Computing and Cloud Infrastructure), By Service (SaaS, PaaS and IaaS), By Organization Size (Large Enterprises and Small & Medium Size Enterprises), By Industry (Manufacturing, BFSI, Healthcare, Retail, Government, Aerospace & Defence, IT & Telecommunication), By Region – Forecast to 2023
The global public cloud market is expected to exhibit a stellar 22.78% CAGR over the forecast period from 2017 to 2023, according to the latest research report from Market Research Future (MRFR). The report makes a close study of the major factors determining the global public cloud market’s growth trajectory and provides readers with a detailed assessment of the market to enable well-informed decision making in the market.
The global Public Cloud Market is mainly driven by the growing demand for industrial automation and the growing reliance on digital data generation and gathering procedures in public sector industries such as BFSI. The growing use of digital means to access BFSI and other public sector services has resulted in a growing demand for cost-efficient data storage and processing mechanisms, as the volume of data generated in modern online transactions is too high to be processed by conventional means. This has driven the development of the public cloud market, especially in developed countries, over the last few years. The growing use of mobile apps and websites in the banking and government sector is likely to remain one of the key drivers for the global public cloud market over the forecast period.
The increasing government support to digitalization procedures all over the world has also led to a growing demand for public cloud facilities. The growing adoption of IoT technology and solutions in emerging countries is likely to drive the demand from the public cloud market over the forecast period, as widespread adoption of IoT systems makes it more viable to install public cloud systems. The growing demand for high-performance computing in several industries over the world is likely to be a major driver for the global public cloud market over the forecast period.
The prominent players in the public cloud market are - International Business Machines Corporation (U.S.), Amazon.com, Inc. (U.S.), Microsoft Corporation (U.S.), Google (U.S.), Hewlett-Packard (U.S.), Salesforce.com (U.S.), Oracle Corporation (U.S.), VMware, Inc.(U.S.) , Cisco Systems, Inc. (U.S.), Verizon Wireless (U.S.), and Rackspace Inc. (U.S.) among others.
The global public cloud market is segmented on the basis of cloud computing, service type, organization size, end use industry, and region.
North America is likely to dominate the global public cloud market over the forecast period, followed by Europe. The adoption of public cloud has been widespread in North America. Growing government support to public cloud expansion is also likely to be a major driver for the public cloud market in North America over the forecast period. Europe is also a leading regional market for public cloud due to the strong government support for widespread installation of public cloud infrastructure. The increasing use of 5G connectivity and the growing reliance on mobile apps for transactions are likely to drive the usage of public cloud systems in developed regions such as North America and Europe over the forecast period.
Asia Pacific, Latin America, the Middle East, and Africa are likely to exhibit low growth rates over the forecast period, though the market could see significant opportunities open up in Asia Pacific in the coming years due to the growing demand for advanced connectivity solutions in the regions.
TABLE OF CONTENTS
List of Figures
Figure 1 Global Public Cloud Market: Market Structure 17
Figure 2 Key Takeaways Of The Public Cloud Market 18
Figure 3 North America Market Size & Market Share By Country (2017 Vs 2023) 20
Figure 4 Europe Market Size & Market Share By Country (2017 Vs 2023) 21
Figure 5 Asia Pacific & Market Share By Country (2017 Vs 2023) 22
Figure 6 Rest Of World Market Size & Market Share By Country (2017 Vs 2023) 23
Figure 7 Public Cloud Market, By Region, 2016 23
Figure 8 Research Process Of Mrfr 25
Figure 9 Top Down & Bottom Up Approach 27
Figure 10 Droc Analysis Of Global Public Cloud Market 29
Figure 11 Drivers Impact Analysis: Public Cloud Market 32
Figure 12 Restraints Impact Analysis: Public Cloud Market 33
Figure 13 Value Chain: Public Cloud Market 35
Figure 15 Global Public Cloud Market, By Cloud Computing, 2016 To 2023 (Usd Billion) 40
Figure 16 Global Public Cloud Market, By Service 2016 To 2023 (Usd Billion) 42
Figure 17 Global Public Cloud Market, By Organization Size, 2016 To 2023 (Usd Billion) 45
Figure 18 Global Public Cloud Market, By Industrt Verticals, 2016 To 2023 (Usd Billion) 48
Figure 19 Global Public Cloud Market, By Region, 2016 To 2023 (Usd Billion) 50
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Michael Owens serves as the marketing advisor of Head45 in Cardiff Bay. He is a specialist in customer experience and an expert brand strategist who is keen to take on challenges that will help the business expand. Michael puts his creative energy into penning posts that are both interesting and useful for the most popular blogging sites.