Market Synopsis
The public cloud market is projected to grow at a CAGR of 22.78% during the forecast period 2017-2023. As per the public cloud market research report, the global market for public cloud is anticipated to grow rapidly by US$1,322.8 billion by 2023. As per analysts, the penetration of smartphones along with growing use of cloud computing will drive the market growth throughout the forecast period. The Public Cloud Market research report provides an in-depth analysis of the global public cloud market and its cloud computing, end-user industry, service, and organization size segments. The increased spending demand from cloud services as well as lack of technical expertise are the factors which could affect the Public Cloud Market growth during the forecast period 2017-2023. The public cloud market research report by expert analysts is intended to help companies in the public cloud market.
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Segmentation:
The worldwide public cloud market has been studied, taking into account segments like basis of service, cloud computing, industry, and organization size.
Service-wise, the market includes SaaS, IaaS, and PaaS. Software as a service (SaaS) was identified as the leading segment in the market in 2017 and is most likely to grow at the fastest rate of 22.53% in the coming years.
The cloud computing segment comprises cloud billing, cloud communication platform, cloud access security, cloud high-performance computing, and cloud infrastructure. The leading segment, among these, is cloud infrastructure that can attain a CAGR of 23.98 percent in the following years.
Organization sizes enlisted in the report are small, medium enterprises and large enterprises. Large enterprises had been the leading segment in 2017 and it has the potential to achieve a healthy CAGR of 21.22% in the coming years.
The industry-based segments are BFSI, manufacturing, retail, healthcare, IT & telecommunication, aerospace and defense, government, and others. The BFSI segment had garnered the top spot in the market in 2017 and can possibly obtain a high CAGR of 23.44 percent during the evaluation period.
Key Players:
The key players in the global public cloud market include Amazon.com Inc. (Ticker: AMZN) (USA), Cisco Systems Inc. (Ticker: CSCO) (USA), Fujitsu Limited (Japan), Google Inc. (USA), Hewlett-Packard Enterprise (Ticker: HPE) (USA), International Business Machines Corporation {IBM (USA)}, Microsoft Corporation (USA), Oracle Corporation (USA), Salesforce.com (USA), and VMware Inc. (USA).
Regional Analysis:
Europe, North America, Asia Pacific (APAC), and Rest of the World (RoW) are the primary regions based on which the global public cloud market has been analyzed by MRFR.
North America is the prime market for public cloud, owing to the rising adoption of smart devices and bring your own device (BYOD) that have reduced implementation costs. The United States (U.S.) market was worth USD 148.71 Billion in 2017 and there is a high possibility of it achieving a CAGR of 22.01% during the review period. In addition, rising government support for expansion of public cloud in the region is expected to stimulate market growth in the coming years.
Europe is touted to be the second most profitable market for public cloud. The United Kingdom (U.K.) market value in 2017 was USD 27.14 Billion and is presumed to achieve the fastest growing CAGR of 25.07% during the forecast period. The strong government support for installation of public cloud infrastructure across the region helps with market growth. Surging use of 5G connectivity along with the increasing reliance on mobile apps for transactions can elevate adoption rate of public cloud systems in the region.
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Intended Audience
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