Journal logo

Public Cloud Market 2021 Growth Factors, Developments and Regional Forecast 2023

Public Cloud Market Research Report – Global Forecast to 2023

By Akash MRFRPublished 3 years ago 4 min read
Like

Market Overview:

An evaluation conducted by the data experts at Market Research Future Reports (MRFR) reveals that the global public cloud market is predicted to display a CAGR of 22.78% during the assessment period from 2017 to 2023. The growing digitization is the primary factor leading to the expansion of the global Public Cloud Market 2020. Besides, the increasing application of IoT is another significant factor leading to market growth. In addition, the fast-developing countries are setting new rules and regulations to motivate the digitization. Furthermore, low-cost internet services are another substantial factor leading to market growth. In addition, the cloud service is becoming popular and therefore, the number of providers is increasing. Several organizations are inclining towards digitization and are adopting the cloud services which directly augments the market. Since public cloud services are generally free, they are gaining momentum in countries like Brazil and India. However, the concerns related to privacy and data security is estimated to hamper the growth of the market during the assessment period. On the other hand, the spread of COVID-19 has resulted in a significant change in the daily operational activities of the global public cloud market. Precise research is being conducted on the aftermath of coronavirus on the global public cloud market. We will present the factors augmenting and impeding the market during the COVID-19 environment. We will provide an impact analysis report on COVID-19.

Get Free Sample Report @ https://www.marketresearchfuture.com/sample_request/2291

Segmentation

The global public cloud market is segmented on the basis of cloud computing, service type, organization size, end use industry, and region.

By cloud computing, the global public cloud market is segmented into cloud billing, cloud communication platforms, cloud access security, cloud high performance computing, and cloud infrastructure. The cloud infrastructure segment currently dominates the global public cloud, but cloud billing is likely to witness the highest CAGR over the forecast period.

By service type, the global public cloud market is segmented into SaaS, PaaS, and IaaS. SaaS is likely to exhibit the highest growth rate over the forecast period, as it offers users the convenience of being able to access the services without installing them.

By organization size, the global public cloud market is segmented into large enterprises and small & midsized enterprises.

By end use, the public cloud market is segmented into manufacturing, BFSI, healthcare, retail, government, aerospace and defense, IT and telecommunications, and others. BFSI is likely to be the major revenue generator for the global public cloud market over the forecast period due to the growing adoption of mobile apps and related ecosystems in the BFSI sector.

Key Players:

The prominent players in the public cloud market are - International Business Machines Corporation (U.S.), Amazon.com, Inc. (U.S.), Microsoft Corporation (U.S.), Google (U.S.), Hewlett-Packard (U.S.), Salesforce.com (U.S.), Oracle Corporation (U.S.), VMware, Inc.(U.S.) , Cisco Systems, Inc. (U.S.), Verizon Wireless (U.S.), and Rackspace Inc. (U.S.) among others.

Regional Analysis

North America is likely to dominate the global public cloud market over the forecast period, followed by Europe. The adoption of public cloud has been widespread in North America. Growing government support to public cloud expansion is also likely to be a major driver for the public cloud market in North America over the forecast period. Europe is also a leading regional market for public cloud due to the strong government support for widespread installation of public cloud infrastructure. The increasing use of 5G connectivity and the growing reliance on mobile apps for transactions are likely to drive the usage of public cloud systems in developed regions such as North America and Europe over the forecast period.

Asia Pacific, Latin America, the Middle East, and Africa are likely to exhibit low growth rates over the forecast period, though the market could see significant opportunities open up in Asia Pacific in the coming years due to the growing demand for advanced connectivity solutions in the regions.

Get Complete Report @ https://www.marketresearchfuture.com/reports/public-cloud-market-2291

About Us:

Market Research Future (MRFR) is an esteemed company with a reputation of serving clients across domains of information technology (IT), healthcare, and chemicals. Our analysts undertake painstaking primary and secondary research to provide a seamless report with a 360 degree perspective. Data is compared against reputed organizations, trustworthy databases, and international surveys for producing impeccable reports backed with graphical and statistical information.

We at MRFR provide syndicated and customized reports to clients as per their liking. Our consulting services are aimed at eliminating business risks and driving the bottomline margins of our clients. The hands-on experience of analysts and capability of performing astute research through interviews, surveys, and polls are a statement of our prowess. We constantly monitor the market for any fluctuations and update our reports on a regular basis.

Media Contact:

Market Research Future

Office No. 528, Amanora Chambers

Magarpatta Road, Hadapsar,

Pune - 411028

Maharashtra, India

+1 646 845 9312

Email: [email protected]

business
Like

About the Creator

Reader insights

Be the first to share your insights about this piece.

How does it work?

Add your insights

Comments

There are no comments for this story

Be the first to respond and start the conversation.

Sign in to comment

    Find us on social media

    Miscellaneous links

    • Explore
    • Contact
    • Privacy Policy
    • Terms of Use
    • Support

    © 2024 Creatd, Inc. All Rights Reserved.