Cloud Services Market: to achieve a market size of $ 1178.12 Billion as it excels

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The global Cloud Services market size is expected to reach $1178.12 Billion by 2028 growing at the CAGR of 20.38% from 2021 to 2028.

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Global Cloud Services Drivers:

Cloud services provide major growth opportunities due to various benefits such as cheaper maintenance, high availability, increased efficiency, and low maintenance cost.

However, there are some factors that are limiting the growth of these offers; security being the most significant one due to the threat of data breaches and misuse by the third party. Data location and administration is another restraint as they can be easily breached due to different non-governed locations.

As technology develops in the modern era, companies need flexibility in their IT infrastructure. This will lead to an increase in the adoption of cloud-based infrastructure technologies by all enterprises irrespective of the type or complexity involved in keeping highly available applications.

Covid-19 Scenario:

  • Impact on Market Size
  • End-User Trend, Preferences, and Budget Impact
  • Regulatory Framework/Government Policies
  • Key Players Strategy to Tackle Negative Impact
  • Opportunity Window

Global Cloud Services Market Segments:

The global Cloud Services market is further segmented into Cloud Type, Enterprise Size, Service Type, End-User, and geography.

●        By Cloud Type: Public Cloud, Private Cloud, Hybrid Cloud, Others

●        By Enterprise Size: Large Enterprises, Small & Medium Enterprises, Others

●        By Service Type: IaaS, PaaS, SaaS, BPaaS, Management & Security Services, Others

●        By End-User: Bfsi, It & Telecommunications, Government, Retail, Healthcare, Energy & Utilities, Media & Entertainment, Manufacturing, Others

Key Region/ Countries Covered

  • North America (US, Canada, Mexico)
  • Europe (Germany, U.K., France, Italy, Russia, Rest of Europe)
  • Asia-Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
  • Rest of the World (the Middle East & Africa and South America)

The North American region dominates the cloud services market growth. It is showing early signs of gaining market share over Europe so it’s likely to strengthen its hold on the regional spotlight in years to come. Cloud computing services are also beneficial for emerging economies, many of which are quickly transforming into technology hubs for global telecommunications and IT outsourcing.

Furthermore, distributed cloud computing services present an excellent potential for success in wealthy Asian markets that are more inclined towards mobile devices over desktop computers because mobile devices can be more effectively integrated with cloud storage due to their portability.

Key Players of Global Cloud Services Market:

  • Alibaba Group Holding Limited
  • DELL
  • Google
  • Hewlett Packard Enterprise Development
  • International Business Machines Corporation
  • Microsoft Corporation
  • Oracle Corporation
  • Rackspace Hosting, Inc
  • Cisco System, Inc.
  • Amazon Web Services, Inc.

 

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Key Questions Answered Through The Report:

  • The Impact of COVID-19 on the global market
  • What are the potential opportunities for new entrants in the global market
  • What is the market Size and Forecast from 2020 to 2028?
  • Key Players associated with the global Cloud Services Market
  • Value Chain Analysis of Global Cloud Services Market
  • What is the CAGR of the global Cloud Services Market from 2021 to 2028
  • Major Growth Factor, Challenges, Trends, and Opportunities in the global market
  • Key outcomes of SWOT Analysis

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