Market Research Future Insights
According to MRFR analysis, the Cloud Computing Market is expected to register a CAGR of 18.53% from 2022 to 2030 and hold a value of over USD 1738.44 billion by 2030.
Cloud computing market refers to the industry that provides various cloud-based services, including software, infrastructure, and platform solutions to businesses and individuals. These services are offered by cloud service providers, who host and manage applications, data, and resources on their remote servers and deliver them to customers over the internet.
The cloud computing market is growing rapidly, as businesses and individuals continue to adopt cloud-based solutions to reduce costs, increase scalability, and improve efficiency.
One of the most significant impacts of COVID-19 on the cloud computing market has been the rapid increase in demand for cloud-based solutions. As businesses were forced to adapt to remote work environments and digital operations, the need for cloud-based collaboration, communication, and productivity tools increased significantly. This led to a surge in demand for cloud services such as video conferencing, file sharing, and remote access solutions.
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Some of the key market players are:
Cloud Computing Market Report Scope:
Revenue Forecast in 2030:
USD 1738.44 billion
CAGR of 18.53%
Integration of cloud, big data, AI, and ML
The Cloud Computing Market has been segmented into service model, deployment and end-user.
Based on the service model, the market has been segmented into software as a service, infrastructure as a service and platform as a service.
Based on the deployment, the market has been segmented into private, public and hybrid cloud.
Based on the end-user, the market has been segmented into BFSI, IT and telecommunications, government and public sector.
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Scope of the Cloud Computing Market Report
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North America is currently the largest region for the cloud computing market. The region is home to several major cloud service providers such as Amazon Web Services, Microsoft Azure, and Google Cloud, and it has a large customer base consisting of both small and large businesses.
Factors such as a highly developed IT infrastructure, widespread adoption of cloud-based solutions, and the presence of many technology-focused organizations have contributed to the growth of the cloud computing market in North America. Additionally, the region has a large pool of skilled IT professionals and favorable government policies that support cloud adoption, which further fuels the growth of the market.
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