According to IMARC Group’s latest report, titled “Public Cloud Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028″, offers a comprehensive analysis of the industry, which comprises insights on the public cloud market share.
The global public cloud market size reached US$ 492.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,889.7 Billion by 2028, exhibiting a growth rate (CAGR) of 21.50% during 2023-2028. A public cloud represents a third-party managed information technology (IT) platform that utilizes cloud computing to provide services and resources to remote users. It comprises virtual applications, machines, and storage systems. A public cloud also includes various workloads, such as firewalls, load balancers, databases, management tools, and other platform-as-a-service (PaaS) or software-as-a-service (SaaS) elements. It is mainly free or can be availed through several subscription plans and on-demand priced schemes, including pay-as-you-go (PAYG) and pay-per-usage models. A public cloud enables users to assemble various workloads and features according to their requirements to create an infrastructure that can deploy and operate additional enterprise workloads. In addition to this, it also allows companies to automate the backing up of their data and resources and provides scalable disaster recovery services. As a result, the public cloud finds widespread applications across several sectors, such as BFSI, retail, manufacturing, energy and utilities, healthcare, etc.
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Public Cloud Market Trends:
The increasing digital transformation of the business to keep up with the latest technology trends, reach new needs, and improve operational efficiency is primarily driving the public cloud market. Besides this, the growing popularity of these services to delegate routine tasks to technology and enhance collaboration between teams and departments is further augmenting the market growth. Moreover, the rising usage of SaaS, as it is simple and provides improved connectivity and security, is also catalyzing the global market. In addition to this, the integration of artificial intelligence (AI), the internet of things (IoT), and machine learning (ML) by enterprises to conduct real-time engagement with their potential customers and manage various operations is acting as another significant growth-inducing factor. Furthermore, the extensive utilization of big data to enhance decision-making processes, provide better customer service, and present personalized marketing campaigns is expected to bolster the public cloud market in the coming years.
Public Cloud Market 2023-2028 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the public cloud market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Alibaba Group Holding Limited
- Amazon Web Services, Inc.
- Cisco Systems, Inc.
- Google LLC (Alphabet Inc.)
- Hewlett Packard Enterprise Development LP
- International Business Machines Corporation
- Microsoft Corporation
- Oracle Corporation
- Rackspace Technology Inc.
Key Market Segmentation:
The report has segmented the public cloud market on the basis of breakup by service, enterprise size, end-use and region.
Breakup by Service:
- Infrastructure as a Service (IaaS)
- Platform as a Service (PaaS)
- Software as a Service (SaaS)
Breakup by Enterprise Size:
- Large Enterprise
- Small and Medium-sized Enterprises
Breakup by End Use:
- BFSI
- IT and Telecom
- Retail and Consumer Goods
- Manufacturing
- Energy and Utilities
- Healthcare
- Media and Entertainment
- Government and Public Sector
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Turkey, South Africa, Others)
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This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.
Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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