About Cloud Computing Service
Cloud computing is a computing service that includes storage, databases, servers, networking, software, analytics, intelligence, etc. There are various advantages to cloud computing services, including optimizing costs, the ability to scale elastically, providing data security, and unlimited storage without any infrastructure. Cloud computing has emerged as the latest buzzword in the IT industry. Cloud computing services can be considered a combination of grid computing, utility computing, virtualization, and clustering services. The cloud service environment has forced both service providers and users to realign their operational and business strategies with respect to IT decision-making.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The competition in the cloud computing services market extended beyond the major players, with various smaller providers and niche players offering specialized services. The competition in the cloud computing service market is fierce, and providers continuously innovate, expand their service portfolios, and lower prices to attract customers. Factors such as security, reliability, scalability, and innovation are crucial in this competitive landscape. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Amazon Web Services, Inc. (United States), Oracle (United States), Alibaba Cloud (China), Microsoft (United States), SAP SE (Germany), Google Cloud Platform (United States), Fujitsu (Japan), IBM Corporation (United States), OVH SAS (France), SADA, Inc. (United States), NTT DATA Inc (Japan), Akamai Technologies (United States), T-Systems International GmbH (Germany) and Cybit (United Kingdom) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Cloud Computing Service market by , Application (Enterprise Resource Planning, Customer Relationship Management, Email and Collaboration, Storage and Backup and Others) and Region.
On the basis of geography, the market of Cloud Computing Service has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Type, the sub-segment i.e. Infrastructure as a Service (IaaS) will boost the Cloud Computing Service market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Organization Size, the sub-segment i.e. Large Enterprises will boost the Cloud Computing Service market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End users Industry, the sub-segment i.e. Telecommunication will boost the Cloud Computing Service market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Deployment Model, the sub-segment i.e. Public cloud will boost the Cloud Computing Service market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increased the use of cloud computing technology such as, artificial intelligence and machine learning and Increased the demand of hybrid solutions
Market Growth Drivers:
Increasing adoption of IOT devices and Growing expansion of Cloud Providers
Challenges:
Data security is a major concern in cloud computing service and Multi-cloud environments present issues such as, configuration errors, data governance
Restraints:
High Dependence on network and shortage of working security professionals with the necessary qualifications in the industry.
Opportunities:
Incorporate latest technologies of cloud computing in the teaching and learning process.
Market Leaders and their expansionary development strategies
In December 2021, SADA, North America Google Cloud partner acquired ByteWave Digital. With this acquisition, SADA will expand its business into the APAC market and add approximately fifty technical experts to SADA’s global team, furthering its promise to put Google Cloud to work for its customers across the globe., and In March 2023, Akamai Technologies, Inc., a cloud company that powers and protects life online, acquired Ondat, a cloud-based storage technology provider with a Kubernetes-native platform for running stateful applications anywhere at scale. The acquisition of Ondat's cloud storage technology and its industry-recognized talent is intended to strengthen Akamai's cloud computing offerings.
In February 2023, Tech data, a TD SYNNEX company has launched its enhanced cloud services portfolio in Australia. Featuring over 100 types of services across professional and support service Tech Data’s enhanced cloud services portfolio is aimed at enabling the channel partner community to better capture and capitalise on opportunities related to cloud business. and In February 2023, Akamai Technologies, Inc. the cloud company that powers and protects life online, launched Akamai Connected Cloud, a massively distributed edge and cloud platform for cloud computing, security, and content delivery that keeps applications and experiences closer and threats farther away.
Key Target Audience
End users Industry, Research Organization, Government Regulatory and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.