Pune, India, March 26, 2021 (GLOBE NEWSWIRE) — The world cloud computing market is predicted to achieve momentum from the rising inclination of enterprises to omni-cloud options from multi-cloud options. This info is given by Fortune Business Insights™ in a brand new report, titled, “Cloud Computing Market Size, Share & COVID-19 Impact Analysis, By Type (Public Cloud, Private Cloud, Hybrid Cloud), By Service (Infrastructure as a Service (IaaS), Platform as a Service (PaaS), Software as a Service (SaaS)), By Industry (Banking, Financial Services, and Insurance (BFSI), IT and Telecommunications, Government, Consumer Goods and Retail, Healthcare, Manufacturing, Others), and Regional Forecast, 2020-2027.” The report additional states that the market dimension stood at was USD 193.60 billion in 2019 and it’s projected to succeed in USD 684.55 billion by 2027, exhibiting a CAGR of 17.6% in the course of the forecast interval.
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COVID-19 Pandemic: High Demand for VoD Solutions to Propel Growth
The demand for live-streaming platforms, equivalent to Amazon Prime, Netflix, and Hulu is surging quickly backed by the lockdown measures carried out by governments worldwide to stop the transmission of coronavirus. This video-on-demand (VoD) options are additional ensuing within the excessive demand for IaaS cloud-based providers. Also, due to the make money working from home practices throughout the globe, there’s a excessive demand for SaaS-based collaboration options. We are delivering genuine reviews that will help you choose the best technique for regaining enterprise confidence and generate extra gross sales of cloud computing options.
To get to know extra concerning the short-term and long-term affect of COVID-19 on this market,
This Report Answers the Following Questions:
- Which section is ready to guide the market within the close to future?
- Which agency would generate the very best income within the coming years?
- How will key firms enhance gross sales of cloud computing providers amid COVID-19?
- What are the estimated, historic, and present sizes of the worldwide market?
Drivers & Restraints-
Urgent Need to Analyze Data-driven Business Strategies will Favor Growth
The integration of revolutionary applied sciences, equivalent to machine studying (ML) and synthetic intelligence (AI) with cloud computing options is growing globally. It is aiding in analyzing, visualizing, and monitoring data-driven enterprise methods. At the identical time, such integration processes would enable firms to make complicated knowledge accessible and usable over the visible illustration, in addition to to speed up their visualization capabilities. However, the rising variety of privateness and safety issues relating to unexpected emergencies, utility vulnerabilities, cyber-attacks, and knowledge breaches might hamper the general cloud computing market progress all through the forthcoming years.
Government Initiatives to Support Data Safety & Integrity will Drive BFSI Segment
Based on business, the banking, monetary providers, and insurance coverage (BFSI) section procured 16.1% when it comes to cloud computing market share in 2019. This progress is attributable to the rising initiatives by the federal government to assist knowledge security and integrity. The IT & telecommunications section is prone to stay dominant within the coming years owing to the growing utilization of those providers to handle and retailer huge quantities of knowledge within the business.
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North America to Remain at Forefront Owing to Presence of Amazon, IBM, & Apple
Regionally, in 2019, North America generated USD 58.10 billion when it comes to income. The area is anticipated to guide the market fueled by the presence of a number of distinguished cloud computing service suppliers, specifically, Apple Inc., IBM Corporation, and Amazon Web Services within the area. Asia Pacific, then again, is ready to exhibit an astonishing progress within the close to future backed by speedy digitalization and rising web penetration. Europe would present a considerable CAGR due to the excessive expenditure on cloud-based applied sciences within the area.
Key Players Aim to Gain Competitive Edge by New Product Launches
The market homes quite a few reputed firms which might be both opening new knowledge facilities or are launching new cloud computing options to achieve a aggressive edge. Most of them are these days striving persistently to develop state-of-the-art options for making COVID-19 exams simple for healthcare employees. Below are two newest business developments:
- July 2020: Amazon Web Services (AWS) opened three distinctive knowledge facilities in Bahrain to enter within the Middle East market. It is presently planning to open 9 extra availability zones in South Africa, Italy, and Indonesia to broaden its presence.
- May 2020: Microsoft Corporation unveiled its newest cloud computing resolution referred to as Hospital Emergency Response to assist healthcare institutes develop COVID-19 evaluation instruments, thereby decreasing the stress on front-line employees.
List of Key Companies Profiled in Cloud Computing Market Are:
- Amazon Web Services (AWS) (Washington, United States)
- Oracle Corporation (California, United States)
- IBM Corporation (New York, United States)
- Alibaba Group Holding Limited (Hangzhou, China)
- Microsoft Corporation (New Mexico, United States)
- VMware, Inc. (California, United States)
- Alphabet Inc. (Google LLC) (California, United States)
- Rackspace Technology, Inc. (Texas, United States)
- SAP SE (Walldorf, Germany)
- Apple Inc. (California, United States)
- Salesforce.com, Inc. (California, United States)
- HCL Technologies Limited (Noida, India)
- Hewlett-Packard Company (HPE) (California, United States)
- Sprint Corporation (Kansas, United States)
- Verizon Wireless (New York, United States)
- Red Hat, Inc. (North Carolina, United States)
- Ooma Inc. (California, United States)
- Paytm (Uttar Pradesh, India)
- Adobe, Inc. (California, United States)
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Major Table of Content :
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Executive Summary
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19
- Short-term Impact
- Long-term Impact
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Porter’s Five Force Analysis
- Global Cloud Computing Key Players Market Share Analysis and Matrix, 2019
- Key Market Insights and Analysis, By Segments
- Global Cloud Computing Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027
- By Type (Value)
- Public Cloud
- Private Cloud
- Hybrid Cloud
- By Service (Value)
- Infrastructure as a Service (IaaS)
- Platform as a Service (PaaS)
- Software as a Service (SaaS)
- By Industry (Value)
- IT and Telecommunications
- Consumer Goods and Retail
- Others (Energy and Utilities, Education, Media and Entertainment and so forth.)
- By Region (Value)
- North America
- Asia Pacific
- Middle East & Africa
- Latin America
- By Type (Value)
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