Global Cloud Computing Market to Reach USD 408.3 Billion by 2024

New York, USA, 2018-Dec-10 — /EPR Network/ —

According to Goldstein Research, Cloud Computing Market is expected to reach USD 408.3 billion by the end of 2024 from USD 105 billion in 2016, growing at a CAGR of 18.5%. The rising trend of transferring the data over the cloud by medium, small and large enterprises and private players collaborations with government are major driving factors in the growth of global cloud computing market. Global cloud computing market segmentation has been done on the basis of mode of deployment, cloud services, end-users and geography. Medium and small enterprises have spent USD 80 billion in adaptation of cloud computing. Also various government are partnering with service providers to strengthen the security system and for smooth administration. Global cloud computing market is majorly dominated by North America and followed by Europe. Major cloud tech companies are located in North America. Asia-Pacific and Latin America are the fastest growing regions with major countries being Brazil, China, Japan, South Korea and Australia. North America Cloud Computing Market is projected to reach USD 131.87 billion by 2024 and is anticipated to grow at a CAGR of 16.0% during the forecast period. Higher cloud services adoption rates in the region are contributing to the growth of North America Cloud Computing Industry.

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Market Segmentation

On the basis of our in-depth analysis, Global Cloud Computing Market can be segmented as follows:

Based on Mode of Deployment

  • Public Cloud
  • Private Cloud
  • Hybrid Cloud

Based on Cloud Service

  • Infrastructure as a service (IaaS)
  • Platform as a service (PaaS)
  • Software as a service (SaaS)

By End Users

  • Manufacturing Sector
  • Banking & Finance Service Sector
  • Government Sector
  • Private Organizations
  • Healthcare Sectors
  • Consumer Electronics
  • Other Sectors (Education)

By Region

  • North America Cloud Computing Market Analysis, 2016-2024
  • Europe Cloud Computing Market Analysis, 2016-2024
  • Middle East And Africa Cloud Computing Market Analysis, 2016-2024
  • Latin America Cloud Computing Market Analysis, 2016-2024
  • Asia Pacific Cloud Computing Market Analysis, 2016-2024
  • Rest Of The World Cloud Computing Market Analysis, 2016-2024

 

“Global Cloud Computing Market Outlook 2024” contains detailed overview of the global cloud computing market. On the basis of our in-depth analysis, market can be segmented in terms of market segmentation by mode of deployment, cloud services, end-users and geography.

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The Global Cloud Computing Market Report highlights the competitive outlook of major global players that includes the business strategies, product portfolio, revenue distribution, financial analysis, R&D activities and investments. The in-depth analysis of cloud computing market report will help the clients to assess their business strategies as per the competitive environment in the market space.

Major players of the global cloud computing market discussed in the report are: Amazon Web Services, Microsoft Corporation, IBM Corporation, Cisco Systems Inc., Rackspace, VMware, Oracle, General Electric, Google Inc., Akamai, Fujitsu Ltd., Red Hat, Salesforce.com, HP, NTT Data Corporation, SAP, Dell Inc., Caspio Inc., Skytap, Accenture, Capgemini, ENKI LLC, Flexiant Ltd., CA Technologies Inc.,etc.

Further, Global Cloud Computing Market Report encompasses the major trends & growth opportunities, market dynamics and other growth factors. The Cloud Computing Market outlook also comprises of key challenges for the market players, risk analysis, SWOT Analysis, BPS analysis and Market Attractiveness. Report also includes the expert analysis which provides complete overview of the market post analysis of the economic, political, environmental & social factors of each region and country.

Cloud Computing Market is driving on the basis of advancement in mentioned below industries:

Cloud Computing in Education Sector

Cloud Computing in Education Sector accounted for USD 5.8 billion in 2016 and the market is expected to reach USD 17.4 billion by the end of 2024. Further, the market is anticipated to expand at a compound annual growth rate of 14.7% over the forecast period i.e. 2016-2024.

Cloud Computing in Healthcare Industry

Cloud Computing in Healthcare Industry is likely to thrive with the emergence of new technologies and surge in digitalization of medical procedures and demand for analytic solutions. Further, the cloud computing in healthcare industry is expected to expand at a CAGR of 20.4% over the forecast period and the major growth regions are likely to be the Europe and Asia Pacific.

Cloud Services Market

Cloud Services Market is estimated to grow at a CAGR of 11.4% over the forecast period 2016-2024 from USD 164.8 billion in 2016, to reach a market size of USD 390.0 billion by the end of forecast period. Increase in penetration of cloud computing in the field of infrastructure servicesalong with the hike in demand in both startup and enterprises for the shift of operations from infrastructure to the cloud such as artificial intelligence (AI) and internet of things (IoT) are the major factors that are driving the growth of global Cloud Services market.

 

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