Product Code: GVR-4-68038-210-5
Cloud Computing Market Growth & Trends:
The global cloud computing market size is expected to reach USD 1,554.94 billion by 2030, registering a CAGR of 14.1% from 2023 to 2030, according to a new report by Grand View Research, Inc.. The main factors driving the market growth include the rising adoption of cloud-native applications by several business sectors, such as banking and supply chain automation. Additionally, they allow businesses to develop, manage, and roll out web applications quickly. For instance, in June 2023, First Abu Dhabi Bank (FAB), an international bank based in UAE, partnered with International Business Machines Corporation to migrate applications to the cloud. The cloud migration will enable the bank to optimize technology infrastructure and offer a seamless digital experience to the customers.
Increased adoption of advanced and innovative technologies such as Artificial Intelligence (AI), Machine Learning (ML), and 5G technologies and their rapid implementation within business applications is anticipated to drive market growth. Enterprises can efficiently store, access, and manage vital data owing to cloud computing technologies. With the increasing use of smartphones, computers, and the internet, businesses now need to store and process enormous amounts of data to provide their consumers and clients with services centered on their needs. This is attributed to the rise in demand for the market during the forecast period.
Machine learning, edge computing, and personalization are currently significant trends across several businesses across the globe. To perform the complicated computations frequently required for personalization, such as to generate tailored suggestions, the cloud lowers the technological barriers associated with doing so. For instance, in March 2023, NVIDIA Corporation, a provider of graphics processing units (GPUs), announced cloud services for businesses to refine, operate, and build custom large language and generative AI models. The NVIDIA AI Foundations services span language, images, video, and 3D used by Morningstar, Inc.; Getty Images Holdings, Inc.; Shutterstock; and Quantiphi.
Market vendors focus on launching new cloud solutions, services, and workloads, as well as enhancing the capabilities of their current ones to increase their position in the market. Various prominent players in the market are expanding their reach into different countries by opening data centers and bringing digital transformation to those countries. For instance, in June 2023, Microsoft Corporation, a Cloud computing provider, announced the availability of its first Italian cloud region, which provides organizations in Italy with scalable, resilient, and available cloud services. The cloud region consists of three data centers in the Lombardy region which help boost digital transition across public entities and enterprises in Italy.
Cloud Computing Market Report Highlights:
- The Infrastructure as a Service segment is expected to register the highest CAGR from 2023 to 2030, owing to the rising IaaS adoption which is fueled by the growing need to simplify IT complexities, find qualified workers to manage IT infrastructures and lower the cost of deploying data centers
- The small- and medium-sized business segment is expected to grow at the highest rate due to lower prices for IT software and hardware, increased processing power and storage elasticity, and increased mobility in accessing data and services. Over the forecast period, the market growth is likely to be driven by the growing usage of cloud technology across SMEs in developing regions
- The hybrid deployment segment is anticipated to emerge as the fastest-growing segment. To improve their cost optimization, business model, application development, operational efficiency, and user experience, industries are increasingly adopting hybrid models. In the coming years, it is anticipated that the rapid adoption of edge computing will increase demand among companies worldwide for hybrid clouds
- The manufacturing end-use segment is expected to register the highest growth rate from 2023 to 2030. The segmental growth can be attributed to its advantages, such as seamless data management and real-time visibility. The manufacturing industry's increasing use of cloud services for data storage, managing the supply chain, and organizing enterprise resources is anticipated to fuel the segment's growth over the forecasted period
- Asia Pacific is anticipated to experience the market's fastest growth due to SMEs and large businesses' increased attention on enhancing their digital activities
Table of Contents
Chapter 1 Methodology and Scope
- 1.1 Research Methodology
- 1.2 Research Scope and Assumptions
- 1.3 List of Data Sources
Chapter 2 Executive Summary
- 2.1 Market Snapshot
- 2.2 Service and Deployment Snapshot
- 2.3 Enterprise Size and End-Use Snapshot
- 2.4 Competitive Landscape Snapshot
Chapter 3 Cloud Computing Market: Industry Outlook
- 3.1 Market Lineage Outlook
- 3.2 Cloud Computing Market - Value Chain Analysis
- 3.3 Cloud Computing Market Dynamics
- 3.3.1 Market Driver Analysis
- 3.3.1.1 Increased resource, user mobility, and ongoing migration of applications over the cloud
- 3.3.1.2 Increasing adoption of technologies such as artificial intelligence, machine learning, 5G, and IoT
- 3.3.2 Market Challenge Analysis
- 3.3.2.1 Data security and data privacy
- 3.4 Market Analysis Tools
- 3.4.1 Cloud computing market - Porter's five forces analysis
- 3.4.2 Cloud computing market - PESTEL analysis
Chapter 4 Cloud Computing Market: Service Segment Analysis
- 4.1 Cloud Computing Market: By Service Segment Outlook & Market Share 2022 and 2030
- 4.2 Infrastructure as a Service (IaaS)
- 4.2.1 Infrastructure as a Service (IaaS) Cloud Computing Market, 2018 - 2030
- 4.3 Platform as a Service (PaaS)
- 4.3.1 Platform as a Service (PaaS) Cloud Computing Market, 2018 - 2030
- 4.4 Software as a Service (SaaS)
- 4.4.1 Software as a Service (SaaS) Cloud Computing Market, 2018 - 2030
Chapter 5 Cloud Computing Market: Deployment Segment Analysis
- 5.1 Cloud Computing Market: By Deployment Segment Outlook & Market Share 2022 and 2030
- 5.2 Public
- 5.2.1 Public Cloud Computing Market, 2018 - 2030
- 5.3 Private
- 5.3.1 Private Cloud Computing Market, 2018 - 2030
- 5.4 Hybrid
- 5.4.1 Hybrid Cloud Computing Market, 2018 - 2030
Chapter 6 Cloud Computing Market: Enterprise Size Segment Analysis
- 6.1 Cloud Computing Market: By Enterprise Size Segment Outlook & Market Share 2022 and 2030
- 6.2 Large Enterprises
- 6.2.1 Cloud Computing Market in Large Enterprises, 2018 - 2030
- 6.3 Small & Medium Enterprises
- 6.3.1 Cloud computing market in small & medium enterprise, 2018 - 2030
Chapter 7 Cloud Computing Market: End-Use Segment Analysis
- 7.1 Cloud Computing Market: By End Use Segment Outlook & Market Share 2022 and 2030
- 7.2 BFSI
- 7.2.1 Cloud Computing Market in BFSI, 2018 - 2030
- 7.3 IT & Telecom
- 7.3.1 Cloud computing market in IT & Telecom, 2018 - 2030
- 7.4 Retail & Consumer Goods
- 7.4.1 Cloud computing market in retail & consumer goods, 2018 - 2030
- 7.5 Manufacturing
- 7.5.1 Cloud computing market in manufacturing, 2018 - 2030
- 7.6 Energy & Utilities
- 7.6.1 Cloud computing market in energy & utilities, 2018 - 2030
- 7.7 Healthcare
- 7.7.1 Cloud Computing Market in Healthcare, 2018 - 2030
- 7.8 Media & Entertainment
- 7.8.1 Cloud computing market in media & entertainment, 2018 - 2030
- 7.9 Government & Public Sector
- 7.9.1 Cloud computing market in government & public sector, 2018 - 2030
- 7.10 Others
- 7.10.1 Cloud computing market in other end-use, 2018 - 2030
Chapter 8 Cloud Computing Market: Region Segment Analysis
- 8.1 Cloud Computing Market: By Region Segment Outlook & Market Share 2022 and 2030
- 8.2 North America
- 8.2.1 North America Cloud Computing Market, 2018 - 2030
- 8.2.2 North America Cloud Computing Market, by Service, 2018 - 2030
- 8.2.3 North America Cloud Computing Market, by Deployment, 2018 - 2030
- 8.2.4 North America Cloud Computing Market, by enterprise size, 2018 - 2030
- 8.2.5 North America Cloud Computing Market, by end-use, 2018 - 2030
- 8.2.6 U.S.
- 8.2.6.1 U.S. Cloud Computing Market, 2018 - 2030
- 8.2.6.2 U.S. Cloud Computing Market, by Service, 2018 - 2030
- 8.2.6.3 U.S. Cloud Computing Market, by Deployment, 2018 - 2030
- 8.2.6.4 U.S. Cloud Computing Market, by enterprise size, 2018 - 2030
- 8.2.6.5 U.S. Cloud Computing Market, by end-use, 2018 - 2030
- 8.2.7 Canada
- 8.2.7.1 Canada Cloud Computing Market, 2018 - 2030
- 8.2.7.2 Canada Cloud Computing Market, by Service, 2018 - 2030
- 8.2.7.3 Canada Cloud Computing Market, by Deployment, 2018 - 2030
- 8.2.7.4 Canada Cloud Computing Market, by enterprise size, 2018 - 2030
- 8.2.7.5 Canada Cloud Computing Market, by end-use, 2018 - 2030
- 8.3 Europe
- 8.3.1 Europe Cloud Computing Market, 2018- 2030
- 8.3.2 Europe Cloud Computing Market, by Service, 2018 - 2030
- 8.3.3 Europe Cloud Computing Market, by Deployment, 2018 - 2030
- 8.3.4 Europe Cloud Computing Market, by enterprise size, 2018 - 2030
- 8.3.5 Europe Cloud Computing Market, by end-use, 2018 - 2030
- 8.3.6 U.K.
- 8.3.6.1 U.K. Cloud Computing Market, 2018 - 2030
- 8.3.6.2 U.K. Cloud Computing Market, by Service, 2018 - 2030
- 8.3.6.3 U.K. Cloud Computing Market, by Deployment, 2018 - 2030
- 8.3.6.4 U.K. Cloud Computing Market, by enterprise size, 2018 - 2030
- 8.3.6.5 U.K. Cloud Computing Market, by end-use, 2018 - 2030
- 8.3.7 Germany
- 8.3.7.1 Germany Cloud Computing Market, 2018 - 2030
- 8.3.7.2 Germany Cloud Computing Market, by Service, 2018 - 2030
- 8.3.7.3 Germany Cloud Computing Market, by Deployment, 2018 - 2030
- 8.3.7.4 Germany Cloud Computing Market, by Enterprise Size, 2018 - 2030
- 8.3.7.5 Germany Cloud Computing Market, by end-use, 2018 - 2030
- 8.3.8 France
- 8.3.8.1 France Cloud Computing Market, 2018 - 2030
- 8.3.8.2 France Cloud Computing Market, by Service, 2018 - 2030
- 8.3.8.3 France Cloud Computing Market, by Deployment, 2018 - 2030
- 8.3.8.4 France Cloud Computing Market, by Enterprise Size, 2018 - 2030
- 8.3.8.5 France Cloud Computing Market, by end-use, 2018 - 2030
- 8.4 Asia Pacific
- 8.4.1 Asia Pacific Cloud Computing Market, 2018 - 2030
- 8.4.2 Asia Pacific Cloud Computing Market, by Service, 2018 - 2030
- 8.4.3 Asia Pacific Cloud Computing Market, by Deployment, 2018 - 2030
- 8.4.4 Asia Pacific Cloud Computing Market, by enterprise size, 2018 - 2030
- 8.4.5 Asia Pacific Cloud Computing Market, by end-use, 2018 - 2030
- 8.4.6 Japan
- 8.4.6.1 Japan Cloud Computing Market, 2018 - 2030
- 8.4.6.2 Japan Cloud Computing Market, by Service, 2018 - 2030
- 8.4.6.3 Japan Cloud Computing Market, by Deployment, 2018 - 2030
- 8.4.6.4 Japan Cloud Computing Market, by enterprise size, 2018 - 2030
- 8.4.6.5 Japan Cloud Computing Market, by end-use, 2018 - 2030
- 8.4.7 China
- 8.4.7.1 China Cloud Computing Market, 2018 - 2030
- 8.4.7.2 China Cloud Computing Market, by Service, 2018 - 2030
- 8.4.7.3 China Cloud Computing Market, by Deployment, 2018 - 2030
- 8.4.7.4 China Cloud Computing Market, by enterprise size, 2018 - 2030
- 8.4.7.5 China Cloud Computing Market, by end-use, 2018 - 2030
- 8.4.8 India
- 8.4.8.1 India Cloud Computing Market, 2018 - 2030
- 8.4.8.2 India Cloud Computing Market, by Service, 2018 - 2030
- 8.4.8.3 India Cloud Computing Market, by Deployment, 2018 - 2030
- 8.4.8.4 India Cloud Computing Market, by enterprise size, 2018 - 2030
- 8.4.8.5 India Cloud Computing Market, by end-use, 2018 - 2030
- 8.4.9 South Korea
- 8.4.9.1 South Korea Cloud Computing Market, 2018 - 2030
- 8.4.9.2 South Korea Cloud Computing Market, by Service, 2018 - 2030
- 8.4.9.3 South Korea Cloud Computing Market, by Deployment, 2018 - 2030
- 8.4.9.4 South Korea Cloud Computing Market, by Enterprise Size, 2018 - 2030
- 8.4.9.5 South Korea Cloud Computing Market, by end-use, 2018 - 2030
- 8.4.10 Australia
- 8.4.10.1 Australia Cloud Computing Market, 2018 - 2030
- 8.4.10.2 Australia Cloud Computing Market, by Service, 2018 - 2030
- 8.4.10.3 Australia Cloud Computing Market, by Deployment, 2018 - 2030
- 8.4.10.4 Australia Cloud Computing Market, by Enterprise Size, 2018 - 2030
- 8.4.10.5 Australia Cloud Computing Market, by end-use, 2018 - 2030
- 8.5 Latin America
- 8.5.1 Latin America Cloud Computing Market, 2018 - 2030
- 8.5.2 Latin America Cloud Computing Market, by Service, 2018 - 2030
- 8.5.3 Latin America Cloud Computing Market, by Deployment, 2018 - 2030
- 8.5.4 Latin America Cloud Computing Market, by enterprise size, 2018 - 2030
- 8.5.5 Latin America Cloud Computing Market, by end-use, 2018 - 2030
- 8.5.6 Brazil
- 8.5.6.1 Brazil Cloud Computing Market, 2018 - 2030
- 8.5.6.2 Brazil Cloud Computing Market, by Service, 2018 - 2030
- 8.5.6.3 Brazil Cloud Computing Market, by Deployment, 2018 - 2030
- 8.5.6.4 Brazil Cloud Computing Market, by enterprise size, 2018 - 2030
- 8.5.6.5 Brazil Cloud Computing Market, by end-use, 2018 - 2030
- 8.5.7 Mexico
- 8.5.7.1 Mexico Cloud Computing Market, 2018 - 2030
- 8.5.7.2 Mexico Cloud Computing Market, by Service, 2018 - 2030
- 8.5.7.3 Mexico Cloud Computing Market, by Deployment, 2018 - 2030
- 8.5.7.4 Mexico Cloud Computing Market, by enterprise size, 2018 - 2030
- 8.5.7.5 Mexico Cloud Computing Market, by end-use, 2018 - 2030
- 8.6 MEA
- 8.6.1 MEA Cloud Computing Market, 2018 - 2030
- 8.6.2 MEA Cloud Computing Market, by Service, 2018 - 2030
- 8.6.3 MEA Cloud Computing Market, by Deployment, 2018 - 2030
- 8.6.4 MEA Cloud Computing Market, by enterprise size, 2018 - 2030
- 8.6.5 MEA Cloud Computing Market, by end-use, 2018 - 2030
- 8.6.6 United Arab Emirates (UAE)
- 8.6.6.1 United Arab Emirates (UAE) Cloud Computing Market, 2018 - 2030
- 8.6.6.2 United Arab Emirates (UAE) Cloud Computing Market, by Service, 2018 - 2030
- 8.6.6.3 United Arab Emirates (UAE) Cloud Computing Market, by Deployment, 2018 - 2030
- 8.6.6.4 United Arab Emirates (UAE) Cloud Computing Market, by enterprise size, 2018 - 2030
- 8.6.6.5 United Arab Emirates (UAE) Cloud Computing Market, by end-use, 2018 - 2030
- 8.6.7 Saudi Arabia
- 8.6.7.1 Saudi Arabia Cloud Computing Market, 2018 - 2030
- 8.6.7.2 Saudi Arabia Cloud Computing Market, by Service, 2018 - 2030
- 8.6.7.3 Saudi Arabia Cloud Computing Market, by Deployment, 2018 - 2030
- 8.6.7.4 Saudi Arabia Cloud Computing Market, by Enterprise Size, 2018 - 2030
- 8.6.7.5 Saudi Arabia Cloud Computing Market, by end-use, 2018 - 2030
- 8.6.8 South Africa
- 8.6.8.1 South Africa Cloud Computing Market, 2018 - 2030
- 8.6.8.2 South Africa Cloud Computing Market, by Service, 2018 - 2030
- 8.6.8.3 South Africa Cloud Computing Market, by Deployment, 2018 - 2030
- 8.6.8.4 South Africa Cloud Computing Market, by Enterprise Size, 2018 - 2030
- 8.6.8.5 South Africa Cloud Computing Market, by end-use, 2018 - 2030
Chapter 9 Competitive Landscape
- 9.1 Company Categorization
- 9.2 Strategy Mapping
- 9.3 Company Ranking Analysis, 2022
- 9.4 Company Profiles (Overview, Financial Performance, Product Benchmarking)
- 9.4.1 Adobe Inc.
- 9.4.2 Alibaba Group Holding Limited.
- 9.4.3 Amazon.com Inc.
- 9.4.4 Google LLC.
- 9.4.5 International Business Machines Corporation
- 9.4.6 Microsoft Corporation
- 9.4.7 Oracle Corporation
- 9.4.8 Salesforce.com Inc.
- 9.4.9 SAP SE
- 9.4.10 Workday, Inc.