MARC Group, a leading market research company, has recently releases report titled “Public Cloud Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028 ″, The study provides a detailed analysis of the industry, including the global public cloud market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the public cloud market?
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.
What is public cloud?
Public cloud services, an essential aspect of the digital revolution, involve the provision of scalable and often virtualized resources as services over the internet. They encompass a broad range of offerings, from infrastructure as a service (IaaS) and platform as a service (PaaS) to software as a service (SaaS). These services are applicable across diverse sectors, including IT, telecom, healthcare, retail, and government organizations.
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What are the growth prospects and trends in the public cloud industry?
The mounting demand for cost-effective and scalable IT solutions represents a key driver influencing the growth of the public cloud market. Additionally, advancements in cloud technology, making the public cloud more secure, reliable, and flexible, are contributing to market expansion. The global shift towards digitization, where data is central and IT resources are optimally utilized, is escalating the demand for public cloud services. The rising awareness about the benefits of cloud computing among businesses, combined with the growing need for data storage and processing, is propelling the public cloud market growth. Rapid expansion in the digital economy and the consequent surge in data generation is providing a boost to the public cloud market. The escalating demand for flexible IT solutions, unbounded by the limitations of traditional IT infrastructure, is further fueling the market growth. The growing acceptance of public cloud services, assisted by their scalability, cost-effectiveness, and ease of access, is a significant market stimulant. Increasing awareness about the role of cloud computing in digital transformation and the need to stay competitive is fostering the demand for public cloud solutions. Other factors, such as government regulations promoting digitalization, investment in cloud research, and the emergence of cloud-native startups, are spurring the market growth globally. Furthermore, the rise of remote work and the need for efficient collaboration tools is painting a positive market outlook.
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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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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