Cloud Computing
Cloud Computing Market by Service Model (Infrastructure as a Service, Platform as a Service, Software as a Service), Solution (Collaboration & Productivity Suites, Customer Relationship Management, Human Capital Management), Infrastructure, Workload, Deployment, Organization Size, Industry - Global Forecast 2024-2030
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[182 Pages Report] The Cloud Computing Market size was estimated at USD 524.76 billion in 2023 and expected to reach USD 604.16 billion in 2024, at a CAGR 15.22% to reach USD 1,414.98 billion by 2030.

Cloud Computing Market
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Cloud computing refers to computing services, including servers, storage, databases, networking, software, analytics, and artificial intelligence, over the Internet. Cloud computing enables organizations to access and utilize IT resources efficiently and effectively. Cloud computing transforms the way businesses operate by offering flexibility, cost savings, enhanced collaboration, and improved security. The increase in digitalization across various end-use sectors and the inclination of businesses toward cloud-based solutions due to their cost-effectiveness and scalability are accelerating the use of cloud computing solutions. Implementing advanced technologies and automation across industrial verticals propels the demand for cloud computing services. However, interoperability issues between different platforms and a lack of technical expertise in managing complex cloud environments may impede their adoption by organizations worldwide. In addition, expanding cloud infrastructure through increased investment from private and government entities is anticipated to encourage the deployment of cloud computing solutions across businesses globally.

Regional Insights

The adoption of cloud computing solutions is increasing in the Americas, primarily due to the presence of major providers driving innovation and expanding their infrastructure capacity to cater to rising demands from industries such as finance, healthcare, retail, and government entities. Furthermore, regulatory compliance requirements encourage businesses to adopt private or hybrid cloud solutions in the Americas region. The APAC region is witnessing significant adoption of cloud computing solutions owing to the rapid digital transformation, increasing internet penetration, and a growing number of SMEs leveraging technology-based services. Local governments' initiatives to promote digital infrastructure development serve as a catalyst for market growth in this region. The inclination of industries and business organizations toward Industry 4.0 in EMEA has stimulated strong demand for advanced IT resources and data storage capacities that can be delivered through cloud services. The presence of major IT companies provides the potential for organizations in the EMEA region to adopt cloud computing solutions seamlessly. Additionally, the growing emphasis of countries worldwide on economic diversification strategies has increased investments in data center construction projects, amplifying the potential for cloud computing expansion.

Market Dynamics

The market dynamics represent an ever-changing landscape of the Cloud Computing Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

  • Market Drivers
    • Rising shift to remote work and the need for seamless collaboration tools
    • Government initiatives supporting cloud computing technologies and services
    • Increasing use of IoT and big data propelling generation of high volume data
  • Market Restraints
    • Technical complexities caused by downtime and issues of vendor lock-in period
  • Market Opportunities
    • Introduction of advanced hybrid, edge, and multi-cloud strategies in IT environments
    • New investments in large-scale cloud computing data centers worldwide
  • Market Challenges
    • Concerns associated with data security and privacy breach
Market Segmentation Analysis
  • Service Model: Growing digitalization inclining businesses toward cloud-based solutions

    Infrastructure as a Service (IaaS) allows enterprises to rent infrastructure components such as storage, networking, and servers on-demand and is suitable for organizations with fluctuating workloads. Platform as a Service (PaaS) offers a higher level of abstraction by providing a platform for developers to deploy and manage cloud applications. It includes pre-configured runtime environments and tools that support multiple programming languages. PaaS is ideal for rapid application development in organizations with limited IT staff expertise in managing infrastructure tasks. Software as a Service (SaaS) delivers functional applications to end-users through web browsers or dedicated client applications. The SaaS model eliminates the need for customers to manage software installation or upgrades on their local devices. SaaS is subscription-based pricing where users pay per seat or based on usage metrics, and its primary benefits are cost reduction, ease of use, and seamless updates for end users. IaaS is ideal for businesses requiring customizable infrastructure with scalable resources, while PaaS enables rapid application development without the burden of managing underlying systems, and SaaS provides ready-made software solutions that require minimal user intervention to update or maintain software applications.

  • Solution: Collaboration & productivity suites have emerged as an essential tools for improving team communication and efficiency

    Collaboration & productivity suites are essential for businesses to enhance teamwork, communication, and task management. These tools enable organizations to streamline their operations and improve overall efficiency. Customer relationship management solutions help businesses manage customer data, interactions, sales pipelines, and marketing campaigns more effectively. Human capital management software helps organizations manage employee performance, talent acquisition, benefits administration, learning management systems (LMS), and payroll processing, among others. Supply chain management systems help businesses manage inventory, procurement, manufacturing, logistics, and forecasting.

  • Infrastructure: Infrastructure services address specific needs of organizations including data preservation and data protection

    Archiving refers to the process of securing and storing data for long-term retention and compliance purposes. In cloud computing, archiving services deliver cost-effective storage solutions that ensure data preservation without sacrificing accessibility and security. Computing services are fundamental in cloud environments as they provide the processing power needed to run applications and manage workloads effectively. Disaster recovery and backup services help organizations protect their data and applications against unforeseen events such as system failures, natural disasters, or cyber-attacks. Cloud-based disaster recovery solutions ensure business continuity by providing reliable offsite backups and quick restoration capabilities. Primary storage solutions are critical for storing active data frequently accessed by applications and users. In cloud environments, primary storage services offer high-performance and scalable options that cater to diverse needs, such as block storage, file storage, and object storage.

  • Workload: Extensive popularity of hypervisor & edge computing, storage, backup & disaster recovery across end-user industries

    Cloud computing solutions have drastically transformed application development and testing by offering improved scalability and cost-effectiveness. The demand for cloud-based business analytics tools has soared due to the exponential growth of big data. Collaboration and content management services have experienced a surge in the adoption of new and enhanced features that facilitate efficient remote work. Businesses are increasingly shifting to cloud-based enterprise resource planning (ERP) systems such as SAP S/4HANA, Oracle ERP Cloud, and Microsoft Dynamics 365, offering streamlined business processes and cost-effectiveness. Integration and orchestration services play a crucial role in connecting cloud services with on-premises systems, ensuring seamless operations and data flow. Additionally, storage, backup, and disaster recovery providers offer scalable solutions that seamlessly integrate with existing IT infrastructure. The cloud computing landscape has revolutionized application development and testing by providing scalability, cost-effectiveness, and enhanced business analytics capabilities. The adoption of collaboration tools, cloud-based ERP systems, integration services, and scalable storage solutions has become increasingly prevalent, driving businesses toward greater efficiency and success.

  • Deployment: Integration of private cloud for enabling users to control data privacy and security

    A hybrid cloud integrates on-premise infrastructure (private) with off-premise resources (public) and enables organizations to process sensitive data in-house while leveraging the extensive resources of the public cloud for non-sensitive operations. The hybrid cloud model provides flexibility, scalability, and cost-effectiveness while maintaining control over critical data. A private cloud is a dedicated infrastructure owned and managed by an organization or hosted by a third party. A private cloud allows complete control over data privacy and security while enabling the customization of resources based on unique requirements. Private clouds are suitable for organizations with strict compliance requirements or those handling highly sensitive information. Public clouds are maintained by third-party providers that offer computing resources such as storage or applications on a pay-as-you-go basis and are ideal for non-sensitive workloads requiring resource allocation flexibility. Hybrid cloud emerges as a preferred choice for organizations seeking cost-efficiency, flexibility, and security compared to private and public cloud.

  • Organization Size: Emerging use of cloud computing by small & medium enterprises worldwide to ensure secure storage of data

    Large enterprises generally require robust infrastructure, extensive customization options, high availability, and stringent security measures to manage vast data. These organizations have international operations with multiple interconnected data centers, which require advanced large-scale cloud computing. SMEs typically have limited budgets compared to larger corporations but require reliable cloud computing services that ensure cost-effective scalability without sacrificing performance or security. Additionally, SMEs are more focused on cost-effectiveness and ease of implementation as they have limited IT resources and budgets. Moreover, large enterprises aim to optimize resources while maintaining security protocols through hybrid deployments; meanwhile, SMEs seek to benefit from various provider strengths while mitigating risks associated with single-provider reliance.

  • Industry: Shift of the healthcare and BFSI industry to cloud computing due to its high scalability

    Cloud computing solutions are gaining traction in the BFSI and government sectors owing to their ability to improve operational efficiencies, reduce costs, and enhance security. The consumer goods & retail, and manufacturing industries require robust cloud-based solutions for supply chain management, inventory tracking, demand forecasting, and customer engagement. Educational institutions are increasingly adopting cloud computing for e-learning platforms, content management systems (CMS), student information systems (SIS), and research purposes. Energy companies rely on cloud-based solutions for managing complex infrastructure networks spanning across power generation facilities to end-user distribution points. Healthcare organizations require cloud solutions that adhere to strict regulatory standards, such as the Health Insurance Portability and Accountability Act (HIPAA) in the U.S. or the General Data Protection Regulation (GDPR) in Europe. The media industry relies heavily on cloud-based platforms for content creation, distribution, and management due to their scalability and cost-effectiveness compared to traditional systems.

Market Disruption Analysis

The market disruption analysis delves into the core elements associated with market-influencing changes, including breakthrough technological advancements that introduce novel features, integration capabilities, regulatory shifts that could drive or restrain market growth, and the emergence of innovative market players challenging traditional paradigms. This analysis facilitates a competitive advantage by preparing players in the Cloud Computing Market to pre-emptively adapt to these market-influencing changes, enhances risk management by early identification of threats, informs calculated investment decisions, and drives innovation toward areas with the highest demand in the Cloud Computing Market.

Porter’s Five Forces Analysis

The porter's five forces analysis offers a simple and powerful tool for understanding, identifying, and analyzing the position, situation, and power of the businesses in the Cloud Computing Market. This model is helpful for companies to understand the strength of their current competitive position and the position they are considering repositioning into. With a clear understanding of where power lies, businesses can take advantage of a situation of strength, improve weaknesses, and avoid taking wrong steps. The tool identifies whether new products, services, or companies have the potential to be profitable. In addition, it can be very informative when used to understand the balance of power in exceptional use cases.

Value Chain & Critical Path Analysis

The value chain of the Cloud Computing Market encompasses all intermediate value addition activities, including raw materials used, product inception, and final delivery, aiding in identifying competitive advantages and improvement areas. Critical path analysis of the <> market identifies task sequences crucial for timely project completion, aiding resource allocation and bottleneck identification. Value chain and critical path analysis methods optimize efficiency, improve quality, enhance competitiveness, and increase profitability. Value chain analysis targets production inefficiencies, and critical path analysis ensures project timeliness. These analyses facilitate businesses in making informed decisions, responding to market demands swiftly, and achieving sustainable growth by optimizing operations and maximizing resource utilization.

Pricing Analysis

The pricing analysis comprehensively evaluates how a product or service is priced within the Cloud Computing Market. This evaluation encompasses various factors that impact the price of a product, including production costs, competition, demand, customer value perception, and changing margins. An essential aspect of this analysis is understanding price elasticity, which measures how sensitive the market for a product is to its price change. It provides insight into competitive pricing strategies, enabling businesses to position their products advantageously in the Cloud Computing Market.

Technology Analysis

The technology analysis involves evaluating the current and emerging technologies relevant to a specific industry or market. This analysis includes breakthrough trends across the value chain that directly define the future course of long-term profitability and overall advancement in the Cloud Computing Market.

Patent Analysis

The patent analysis involves evaluating patent filing trends, assessing patent ownership, analyzing the legal status and compliance, and collecting competitive intelligence from patents within the Cloud Computing Market and its parent industry. Analyzing the ownership of patents, assessing their legal status, and interpreting the patents to gather insights into competitors' technology strategies assist businesses in strategizing and optimizing product positioning and investment decisions.

Trade Analysis

The trade analysis of the Cloud Computing Market explores the complex interplay of import and export activities, emphasizing the critical role played by key trading nations. This analysis identifies geographical discrepancies in trade flows, offering a deep insight into regional disparities to identify geographic areas suitable for market expansion. A detailed analysis of the regulatory landscape focuses on tariffs, taxes, and customs procedures that significantly determine international trade flows. This analysis is crucial for understanding the overarching legal framework that businesses must navigate.

Regulatory Framework Analysis

The regulatory framework analysis for the Cloud Computing Market is essential for ensuring legal compliance, managing risks, shaping business strategies, fostering innovation, protecting consumers, accessing markets, maintaining reputation, and managing stakeholder relations. Regulatory frameworks shape business strategies and expansion initiatives, guiding informed decision-making processes. Furthermore, this analysis uncovers avenues for innovation within existing regulations or by advocating for regulatory changes to foster innovation.

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Cloud Computing Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Cloud Computing Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments
  • Microsoft announces USD 3.2 billion investment in Australia's AI and cloud computing infrastructure

    Microsoft has announced its plan to invest USD 3.2 billion in Australia's AI and cloud computing infrastructure over the next two years. The objective of this investment is to significantly increase computing capacity within Australia by 250%. These investments focus on expanding the computing infrastructure and providing skills development and cyber security enhancements. [Published On: 2023-10-24]

  • Google Cloud Partners With Decentralized Oracle

    Supra, a provider of decentralized oracle solutions, announced a strategic partnership with Google Cloud in the context of cloud computing. This partnership opens up new opportunities for Supra to leverage the global network, data centers, and computing power of Google Cloud. As a result, Supra gained access to premium APIs and data sources, allowing for faster and more accurate price feeds for various assets and markets, including cryptocurrencies, stocks, commodities, and forex. [Published On: 2023-10-24]

  • Crusoe Announces Significant Expansion of Cloud Business with New Capacity and USD 200M in New Financing

    Crusoe Energy Systems LLC announced a substantial expansion of its cloud business. With the addition of new capacity and secured financing for GPU purchases, Cruose is committed to reducing the environmental impact of computing while providing AI customers with a reliable, sustainable, and cost-effective solution. This development represents a significant milestone in the growth journey of Cruose's AI solutions and is part of a substantial investment of USD 200 million. [Published On: 2023-10-23]

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Cloud Computing Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Cloud Computing Market, highlighting leading vendors and their innovative profiles. These include Accenture PLC, Adobe Inc., Alibaba Group Holding Limited, Amazon Web Services, Inc., AT&T Inc., Atos SE, Box, Inc., Broadcom Inc., Cisco Systems, Inc., Citrix Systems, Inc., Cockroach Labs, Inc., Dassault Systèmes SE, Dell Inc., DigitalOcean Holdings, Inc., DreamHost, LLC, Dropbox, Inc., Fujitsu Limited, Google LLC by Alphabet Inc., Hewlett Packard Enterprise Development LP, Huawei Technologies Co., Ltd., Intel Corporation, International Business Machines Corporation, Lenovo Group Limited, Microsoft Corporation, NEC Corporation, NetApp, Inc., NTT Communications Corporation, Nutanix, Inc., NVIDIA Corporation, Oracle Corporation, Rackspace Technology, Inc., Rubrik International, Inc., Salesforce Inc., SAP SE, ServiceNow, Inc., SoftBank Group, Tencent Holdings Ltd., Workday, Inc., and Zoho Corporation Pvt. Ltd..

Cloud Computing Market - Global Forecast 2024-2030
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Market Segmentation & Coverage

This research report categorizes the Cloud Computing Market to forecast the revenues and analyze trends in each of the following sub-markets:

  • Service Model
    • Infrastructure as a Service
    • Platform as a Service
    • Software as a Service
  • Solution
    • Collaboration & Productivity Suites
    • Customer Relationship Management
    • Human Capital Management
    • Supply Chain Management
  • Infrastructure
    • Archiving
    • Computing
    • Disaster Recovery & Backup
    • Primary Storage
  • Workload
    • Application Development & Testing
    • Business Analytics
    • Collaboration & Content Management
    • Database Management
    • Enterprise Resource Management
    • Hypervisor & Edge computing
    • Integration & Orchestration
    • Storage, Backup & Disaster Recovery
  • Deployment
    • Hybrid Cloud
    • Private cloud
    • Public cloud
  • Organization Size
    • Large Enterprises
    • Small & Medium-sized Enterprises
  • Industry
    • Aerospace & Defense
    • Automotive & Transportation
    • Banking, Financial Services & Insurance
    • Building, Construction & Real Estate
    • Consumer Goods & Retail
    • Education
    • Energy & Utilities
    • Government & Public Sector
    • Healthcare & Life Sciences
    • Information Technology
    • Manufacturing
    • Media & Entertainment
    • Telecommunication
    • Travel & Hospitality

  • Region
    • Americas
      • Argentina
      • Brazil
      • Canada
      • Mexico
      • United States
        • California
        • Florida
        • Georgia
        • Illinois
        • Massachusetts
        • New Jersey
        • New York
        • North Carolina
        • Ohio
        • Pennsylvania
        • Texas
        • Washington
    • Asia-Pacific
      • Australia
      • China
      • India
      • Indonesia
      • Japan
      • Malaysia
      • Philippines
      • Singapore
      • South Korea
      • Taiwan
      • Thailand
      • Vietnam
    • Europe, Middle East & Africa
      • Denmark
      • Egypt
      • Finland
      • France
      • Germany
      • Israel
      • Italy
      • Netherlands
      • Nigeria
      • Norway
      • Poland
      • Qatar
      • Russia
      • Saudi Arabia
      • South Africa
      • Spain
      • Sweden
      • Switzerland
      • Turkey
      • United Arab Emirates
      • United Kingdom

This research report offers invaluable insights into various crucial aspects of the Cloud Computing Market:

  1. Market Penetration: This section thoroughly overviews the current market landscape, incorporating detailed data from key industry players.
  2. Market Development: The report examines potential growth prospects in emerging markets and assesses expansion opportunities in mature segments.
  3. Market Diversification: This includes detailed information on recent product launches, untapped geographic regions, recent industry developments, and strategic investments.
  4. Competitive Assessment & Intelligence: An in-depth analysis of the competitive landscape is conducted, covering market share, strategic approaches, product range, certifications, regulatory approvals, patent analysis, technology developments, and advancements in the manufacturing capabilities of leading market players.
  5. Product Development & Innovation: This section offers insights into upcoming technologies, research and development efforts, and notable advancements in product innovation.

Additionally, the report addresses key questions to assist stakeholders in making informed decisions:

  1. What is the current market size and projected growth?
  2. Which products, segments, applications, and regions offer promising investment opportunities?
  3. What are the prevailing technology trends and regulatory frameworks?
  4. What is the market share and positioning of the leading vendors?
  5. What revenue sources and strategic opportunities do vendors in the market consider when deciding to enter or exit?

Table of Contents
  1. Preface
  2. Research Methodology
  3. Executive Summary
  4. Market Overview
  5. Market Insights
  6. Cloud Computing Market, by Service Model
  7. Cloud Computing Market, by Solution
  8. Cloud Computing Market, by Infrastructure
  9. Cloud Computing Market, by Workload
  10. Cloud Computing Market, by Deployment
  11. Cloud Computing Market, by Organization Size
  12. Cloud Computing Market, by Industry
  13. Americas Cloud Computing Market
  14. Asia-Pacific Cloud Computing Market
  15. Europe, Middle East & Africa Cloud Computing Market
  16. Competitive Landscape
  17. Competitive Portfolio
  18. List of Figures [Total: 30]
  19. List of Tables [Total: 680]
  20. List of Companies Mentioned [Total: 39]
The Emerging Use of Cloud Computing in the Healthcare Sector
September 25, 2023
The Emerging Use of Cloud Computing in the Healthcare Sector
Cloud computing is gaining ground in the healthcare sector. It is a revolutionary approach that has transformed healthcare organizations in managing their data and applications. By using cloud computing, the healthcare sector can provide better patient care, improve the efficiency of its operations, and reduce costs. This blog post explores the emerging use of cloud computing in the healthcare sector and the benefits it brings.

Healthcare organizations can streamline operations and automate routine tasks using cloud-based applications and services. This can help them to reduce costs and increase productivity. For example, cloud-based appointment scheduling systems can reduce the manual effort required to manage appointments, while cloud-based billing systems can speed up invoicing.

One concern for healthcare providers when adopting cloud computing is the security of patient data. However, cloud computing providers must comply with strict security standards, such as HIPAA, to ensure patient data's confidentiality, integrity, and availability. Many cloud computing providers can offer better security than healthcare organizations can provide on their own.

Cloud computing also offers scalability. Healthcare organizations may experience peak demand for their services, such as during flu season or when a clinic opens in a new location. With cloud computing, healthcare organizations can easily scale up or down to meet the changing demands of their business.

Cloud computing is not a new technology but is rapidly transforming healthcare. This technology provides improved patient care, increased efficiency, better security, and scalability. By embracing cloud computing, healthcare organizations can focus on providing better patient care while reducing costs and increasing productivity.

Frequently Asked Questions
  1. How big is the Cloud Computing Market?
    Ans. The Global Cloud Computing Market size was estimated at USD 524.76 billion in 2023 and expected to reach USD 604.16 billion in 2024.
  2. What is the Cloud Computing Market growth?
    Ans. The Global Cloud Computing Market to grow USD 1,414.98 billion by 2030, at a CAGR of 15.22%
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