Global Cloud Professional Services Market Share Is Expected to Grow At A CAGR Value Of Around 16.80% By 2028

07-Jun-2022 | Facts and Factors

According to Facts and Factors, the global cloud professional services market was valued at USD 14.7 billion in 2021 and is predicted to increase at a CAGR of 16.80% to USD 37.3 billion by 2028. The study examines the market in terms of revenue in each of the major regions, which are classified into countries.

Global Cloud Professional Services Market Size

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The growing popularity of the cloud is due to the variety of services provided by cloud providers. Cloud Professional Services vendors have also expanded their offerings by combining new technologies such as AI and ML with cloud platforms, resulting in the creation of an ecosystem for clients. Organizations are increasingly turning to cloud professional services due to factors such as increased efficiency, risk mitigation, lower costs, and increased competition. In addition, cloud service providers and vendors have formed strategic alliances to make cloud adoption a seamless experience for customers.

Browse the full “Cloud Professional Services Market By Service Type (Consulting, Application Development and Modernization, Implementation and Migration, Integration and Optimization), By Deployment Mode (Public Cloud, Private Cloud), By Organization Size (Small and Medium-sized Enterprises (SMEs), Large Enterprises), By Verticals (BFSI, Manufacturing, Healthcare and Lifesciences, IT and ITES, Government, Telecommunications, Retail and Consumer Goods, Energy and utilities, Others), and By Region - Global Industry Overview, Market Size, Statistical Research, Market Intelligence, Comprehensive Analysis, Historical Trends, and Forecast 2022–2028"  report at https://www.fnfresearch.com/cloud-professional-services-market

The widespread adoption of robotics as a result of emerging automation trends in manufacturing processes is also driving up demand for cloud professional services to deploy robotic applications on the cloud. In addition, service providers are integrating cloud platforms with analytics tools, artificial intelligence (AI), machine learning (ML), and development and operations (DevOps) to operate a hybrid cloud environment. This, combined with a growing emphasis on developing an agile information technology (IT) environment to remain competitive in changing market conditions, is propelling the market growth. Furthermore, the growing use of remote working models as a result of the coronavirus disease (COVID-19) outbreak is increasing the demand for cloud computing solutions to ensure business continuity. This, in turn, is expected to boost the market growth.

The consulting segment will remain stable during the forecast period, based on service type. Cloud professional services vendors offer consulting services to users who are unfamiliar with upgrading their current enterprise infrastructure. Users who want to upgrade their infrastructure can benefit from the expertise of cloud professional service providers, who specialize in the deployment of cloud-based systems across industry-specific use cases, assisting in the implementation of the right mix of services. Implementation services assist clients in meeting their business objectives more quickly by planning, gaining access to current systems, performing quality validation and verification, and providing support.

Based on the verticals, the healthcare industry segment would show a promising CAGR during the forecast period. The use of cloud professional services is increasing across the healthcare industry because data can be easily shared among medical service vendors. Organizations are constantly striving to provide medical assistance using devices in order to improve medication adherence, reduce emergency room visits, and decrease hospital readmissions.

Due to the presence of the world's two largest economies, India and China, Asia-Pacific will experience the fastest growth in the professional cloud services market. Both countries' economies are expanding, with China experiencing explosive growth in its industrial sector, while India's growth has been fuelled by the expansion of service-producing industries. In terms of growth, emerging markets have taken the lead. Per-user speeds increased in India, China, Indonesia, and Vietnam. In terms of cloud regulation, APAC economies have a slight advantage. This is the result of recent steps to strengthen the frameworks for privacy and intellectual property.

Report Scope

Report Attribute

Details

Market Size in 2021

USD 14.7 Billion

Projected Market Size in 2028

USD 37.3 Billion

CAGR Growth Rate

16.80% CAGR

Base Year

2021

Forecast Years

2022-2028

Key Market Players

Accenture (Ireland), IBM (US), Deloitte (UK), EY (UK), PwC (UK), HPE (US), Wipro (India), HCL (India), TCS (India), Capgemini (France), Atos (France), Cisco (US), Cognizant (India), DXC (US), Hitachi Vantara (US), Infosys (India), LTI (India), NTT Data (Japan), Rackspace (US), T-Systems (Germany), AWS (US), Google (US), Microsoft (US), Fujitsu (Japan), Alibaba Cloud (China), and Others

Key Segment

By Service Type, Deployment Mode, Organization Size, Verticals, and Region

Major Regions Covered

North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa

Purchase Options

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Some of the major companies operating in the cloud professional market are Accenture (Ireland), IBM (US), Deloitte (UK), EY (UK), PwC (UK), HPE (US), Wipro (India), HCL (India), TCS (India), Capgemini (France), and other.

The global Cloud Professional Services market is segmented as follows:

By Service Type

  • Consulting
  • Application Development and Modernization
  • Implementation and Migration
  • Integration and Optimization

By Deployment Mode

  • Public Cloud
  • Private Cloud

By Organization Size

  • Small and Medium-sized Enterprises (SMEs)
  • Large Enterprises

By Verticals

  • BFSI
  • Manufacturing
  • Healthcare and Lifesciences
  • IT and ITES
  • Government
  • Telecommunications
  • Retail and Consumer Goods
  • Energy and Utilities
  • Others

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Nordic Countries
      • Denmark
      • Sweden
      • Norway
    • Benelux Union
      • Belgium
      • The Netherlands
      • Luxembourg
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Southeast Asia
      • Indonesia
      • Thailand
      • Malaysia
      • Singapore
      • Rest of Southeast Asia
    • Rest of Asia Pacific
  • The Middle East & Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • South Africa
    • Rest of the Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

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