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Cloud Computing Market 2022 Expectations & Growth Trends Highlighted Until 2032

Cloud Computing Market

By tanmayb4733Published 2 years ago 2 min read
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The Cloud Computing Market is projected to grow at a robust CAGR of 13.7% and is predicted to reach from US$ 517.9 Billion in 2022 to US$ 1.9 Trillion in 2032.

However, as a result of the pandemic, firms, managers, and workers are increasingly opting for remote working. Remote working has emerged as the current trend and is predicted to remain in the long run.

Cloud computing is used in many applications via the Infrastructure as a Service, Platform as a Service, and Software as a Service model; the high initial and ongoing costs remain a barrier to the cloud computing business.

Cloud computing compels enterprises to deal with the same network security models and physical security constraints for more remote servers, where security footprints and traffic patterns are visible to everyone, compromising database security and posing a problem.

Key Takeaways:

• The solutions from the cloud computing market are expected to grow at the fastest CAGR of 15.1% in the component sector.

• Public cloud is expected to grow at a high rate in the deployment type sector of the cloud computing market, with a CAGR of 15.0%.

• The market size for cloud computing in the United States is expected to reach US$ 6 Billion by 2032, growing at a CAGR of 15.0% during the research period.

• United Kingdom is expected to reach a market size of US$ 693.9 Million in cloud computing by 2032, with a CAGR of 13.9% during the research period.

• China’s cloud computing market is expected to be worth US$ 1.2 Billion by 2032, with a CAGR of 14.5% over the forecast period.

• Japan is expected to have a market size for cloud computing of US$ 1 Billion by 2032, with a CAGR of 13.4% during the research period.

• By 2032, South Korea is expected to reach a market size of US$ 606.7 Million in cloud computing, with a CAGR of 13.0% during the research period.

Significantly, as organizations attempt to improve their digital activities, public cloud services have acquired significant popularity in the Asia Pacific. With the need to attain better company agility and customer satisfaction, cloud computing has become the foundation of how many firms function today.

As the benefits such as on-demand availability and cheap cost, start-ups, and SMEs are increasingly turning to cloud services. Additionally, they free up workers’ time to focus on other mission-critical duties. These incentives are encouraging businesses to rapidly embrace cloud computing services.

List of Key Players Covered in Cloud Computing Market are:

• AWS

• Microsoft

• IBM

• Salesforce

• Google

• Oracle

• SAP

• Alibaba Cloud

• Adobe

• Workday

Key Segments

By Service Model:

• Infrastructure as a Service

• Platform as a Service

• Software as a Service

By Deployment Model:

• Public Model

• Private Cloud

By Organization Size:

• Small and Medium-Sized Enterprises

• Large Enterprises

By Vertical:

• BFSI

• Telecommunications

• IT and ITeS

• Government and Public Sector

• Retail and Consumer Goods

• Manufacturing

• Energy and Utilities

• Media and Entertainment

By Region:

• North America

• Latin America

• Europe

• Asia Pacific

• Middle East and Africa (MEA)

Get More Information - https://www.futuremarketinsights.com/reports/cloud-computing-market

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