Global Cloud-based Computing Market is expected to rise to an estimated value of USD 1031.36 billion by 2026, registering a healthy CAGR in the forecast period of 2019-2026. Rising adoption of hybrid cloud service and increasing number of small and medium sized enterprises are the factors for the growth of this market.
Cloud computing is the delivery of any services such as networking, software, storage and others over the internet. This can either be private or public in which public cloud sell services to the people on the internet and private cloud is usually used by organization in which services are provided to the limited number of the people. They are divided into three service models- platform as a service, software as a service and infrastructure as a service. These cloud computing are very beneficial as they are cost effective, improves performance, enhance productivity and has the ability to scale elastically. They are widely used in industries such as banking, manufacturing, media, healthcare,, energy utilities and others.
The Cloud-based Computing market uses agile research methods such as SWOT analysis and Porter’s Five Forces for high-level assessment of assessment of Cloud-based Computing market. It is an ideal tool to understand Cloud-based Computing market elements that affects the growth of the market. It identifies development openings in the market to enable the readers to make visionary development prospects in Cloud-based Computing market. The investigation is an ideal blend of qualitative and quantitative data featuring key market improvements, challenges that industry and rivalry is looking alongside deep examination of new opportunities and trends in Cloud-based Computing market.
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- Rising automation and agility is driving the market growth
- Increasing demand to deliver enhanced customer experience will also accelerate the growth of this market
- Growing demand from end users as it offer consumption-based billing which will also propel the market growth
- Increased cost saving and good return on investment is also contributing as a factor for the growth of this market
Segmentation: Global Cloud-based computing Market
By Service Model
- Infrastructure as a Service
- Platform as a Service
- Software as a Service
By Deployment Model
- Public Cloud
- Private Cloud
- Hybrid Cloud
By Organization Size
- Small and Medium-Sized Enterprises
- Large Enterprises
- Banking, Financial Services and Insurance
- IT and Telecommunications
- Government and Public Sector
- Retail and Consumer Goods
- Energy and Utilities
- Media and Entertainment
- Healthcare and Life Sciences
- Storage, Backup, and Disaster Recovery
- Application Development and Testing
- Database Management
- Business Analytics
- Integration and Orchestration
- Customer Relationship Management
- Enterprise Resource Management
- Collaboration and Content Management
- North America
- South America
- Middle East and Africa
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Key Developments in the Market:
- In April 2019, Google announced the launch of their new open from Google Cloud Anthos which will help the users to access any applications from anywhere. This will help the user manage and track their workloads in their data center on the Google cloud without making any changes. It is completely a software based solutions and one can install it on existing hardware
- In August 2018, One97 Communications Limited announced the launch of their new artificial cloud computing platform Paytm AI Cloud for India which is specially designed for the online payment portal. The company has partnered with the Alibaba for Cloud Computing Infrastructure and with DingTalk they will be offering messaging solutions. This is very beneficial for the companies who require high- quality solutions and instant solutions for better workflow
Global cloud-based computing market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of cloud-based computing market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Major Market Competitors/Players
Few of the major competitors currently working in the global cloud-based computing market are IBM Corporation. Microsoft, Google, Amazon Web Services, Inc., Oracle, Alibaba Cloud, VMware, Inc., Intel Corporation, RACKSPACE US, INC., Adobe, Verizon, CenturyLink., FUJITSU, NTT Communications Corporation, Kamatera, Inc., DigitalOcean, LLC., MassiveGRID, Liquid Web, LLC, Salesforce.com, inc., Charter Communications, Pivotal Software, Inc., CloudSigma Holding AG and others.
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