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Global Cloud Computing Market Projected to Reach USD 1025.9 Billion by 2026

12-Jun-2020 | Facts and Factors

Findings from Facts and Factors report “Cloud Computing Market By Service Model (Infrastructure as a Service (IaaS), Platform as a Service (PaaS), and Software as a Service (SaaS)), By Deployment Model (Public, Private, and Hybrid),  By Organization Size(Small and Medium-sized Enterprises, and Large Enterprises), and By Vertical (Banking, Financial Services, and Insurance (BFSI), Telecom & IT, Government and Public Sector, Retail, Healthcare, Energy, Media and Entertainment, Manufacturing, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global cloud computing market in 2019 was approximately USD 321 Billion. The market is expected to grow at a CAGR of 18% and is anticipated to reach around USD 1025.9 Billion by 2026.

Cloud computing is an information technology service delivery model where computing resources and software tools are offered by third-party service providers through the Internet network. Cloud computing provides various advantages over on-site hardware infrastructure, such as fast installation, scalability, low cost, mobile support, and lower network maintenance.

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Browse the full “Cloud Computing Market By Service Model (Infrastructure as a Service (IaaS), Platform as a Service (PaaS), and Software as a Service (SaaS)), By Deployment Model (Public, Private, and Hybrid),  By Organization Size(Small and Medium-sized Enterprises, and Large Enterprises), and By Vertical (Banking, Financial Services, and Insurance (BFSI), Telecom & IT, Government and Public Sector, Retail, Healthcare, Energy, Media and Entertainment, Manufacturing, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026" https://www.fnfresearch.com/cloud-computing-market-by-service-model-infrastructure-as-1145

The rise in the adoption of cloud-based solutions over the past few years is driving the cloud computing market globally. The hybrid deployment is gaining popularity owing to its scalability, flexibility, multi-cloud space, and security assurance to organizations. Moreover, the growth in digital disruptions has raised cloud computing businesses. However, the rising concerns regarding security have hindered the market growth. In future years, increasing the BYOD trend and several competitive advantages of cloud computing over an on-premise IT system will fuel the global market growth.

The cloud computing market is segmented based on the service model, deployment model, organization size, and vertical.  On the basis of service model segmentation, the market is classified into infrastructure as a service (IaaS), platform as a service (PaaS), and software as a service (SaaS). In terms of deployment model segmentation, the market is bifurcated into public, private, and hybrid. The hybrid cloud holds the largest market share owing to its increased adoption for various benefits such as it provides data security, and large storage spaces to reduce capital investments by deploying a combined solution of the public and private cloud model. On the basis of organization size, the market has been segmented into small, large, and medium-sized enterprises. Large enterprises hold the major market share in 2019. Furthermore, the vertical segment has been bifurcated into banking, financial services, and insurance (BFSI), IT & telecom, government & public sector, retail, healthcare, energy and utilities, media and entertainment, and manufacturing amongst others. The BFSI segment dominated the overall cloud computing market in recent years and is expected to maintain its position over the analysis period owing to increased adoption of hybrid cloud as it aids banks in managing costs with greater flexibility.

Regional Analysis: Cloud Computing Market

In terms of geography, the cloud professional service market is classified into North America, Latin America, Europe, Middle East & Africa, and the Asia Pacific. In 2019, North America is dominating the regional markets for cloud computing owing to its high adoption of cloud-based solutions in developed economies such as the U.S. and Canada. The Asia Pacific is expected to be the fastest-growing market due to the increasing availability of expertise professionals and the rise in the number of small and medium enterprises in countries like India, China, and Brazil among others. As a result, the growing adoption of cloud services will fuel the global cloud computing market. The five major considered regions are further analyzed into major countries such as U.S., Mexico, Germany, UK, Canada, South Korea, Italy, India, Japan, Brazil, UAE, Egypt, France, China, South Africa, and Kuwait among others.

Top Market Players

Some of the essential players operating in the cloud computing market, but not restricted to include SAS Institute Inc., Microsoft Corporation, Alphabet Inc., Oracle Corporation, Cisco Systems, Inc., Amazon.com Inc., SAP SE, VMware, Inc., IBM, Salesforce.com, Inc., Rackspace Inc., Adobe Systems Inc., Dell EMC Corp., and TIBCO Software Inc. amongst others.

This report segments the Cloud Computing market as follows:

Global Cloud Computing Market: By Service Model Segmentation Analysis

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

Global Cloud Computing Market: By Deployment Model Segmentation Analysis

  • Public
  • Private
  • Hybrid

Global Cloud Computing Market: By Organization Size Segmentation Analysis

  • Small and Medium-sized Enterprises
  • Large Enterprises

Global Cloud Computing Market: By Vertical Segmentation Analysis

  • Banking, Financial Services, and Insurance (BFSI)
  • Telecom & IT
  • Government and Public Sector
  • Retail
  • Healthcare
  • Energy and Utilities
  • Media and Entertainment
  • Manufacturing
  • Others

Global Cloud Computing Market: Regional Segmentation Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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