Growing Public Cloud Market : An Analysis of Trends and Drivers |...

Growing Public Cloud Market : An Analysis of Trends and Drivers

Posted 2024-06-20 09:40:34

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The Public Cloud Market size was USD 607.55 Billion in 2023 and is expected to Reach USD 1595.8 Billion by 2031 and grow at a CAGR of 12.83% over the forecast period of 2024-2031.

The public cloud market has experienced exponential growth over the past decade, driven by the increasing need for scalable and cost-effective computing solutions. Enterprises are rapidly adopting public cloud services to enhance their agility and innovation capabilities. Major providers like Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform dominate the market, offering a wide array of services including infrastructure as a service (IaaS), platform as a service (PaaS), and software as a service (SaaS). The competition among these giants has led to continuous improvements in service offerings, with advancements in artificial intelligence, machine learning, and big data analytics becoming increasingly accessible to businesses of all sizes.

Moreover, the public cloud market is witnessing a shift towards hybrid and multi-cloud strategies as organizations seek to optimize their IT environments and avoid vendor lock-in. This trend is facilitated by the development of cloud management platforms and tools that provide seamless integration and orchestration across different cloud environments. Security and compliance remain top priorities, prompting cloud providers to enhance their security frameworks and offer robust compliance solutions..

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Covid 19 impact analysis:

The latest report is the most recent study that offers 360° coverage of the Public Cloud industry that has been facing the brunt of the adverse economic impact of the COVID-19 outbreak since the beginning of this year. The global health crisis has affected nearly every aspect of the business vertical and led to massive disruptions to the global Public Cloud market demand and supply chains. Researchers draw predictions for the market scenario in the post-COVID era. The report, additionally, assesses the present market situation and estimates its future outcomes, keeping in mind the impact of the pandemic on the global economic landscape.

Major companies profiled in the market report include

Alibaba Group Holding Limited, Amazon.com Inc., Adobe Inc., Google LLC, IBM Corporation, Microsoft Corporation, Oracle Corporation, Salesforce.com Inc., SAP SE, Workday Inc., and other players

Research objectives:

The latest research report has been formulated using industry-verified data. It provides a detailed understanding of the leading manufacturers and suppliers engaged in this market, their pricing analysis, product offerings, gross revenue, sales network & distribution channels, profit margins, and financial standing. The report’s insightful data is intended to enlighten the readers interested in this business sector about the lucrative growth opportunities in the Public Cloud market.

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It has segmented the global Public Cloud market

By Organization Size

Large Enterprises
Small and Medium-sized Enterprises

By Service model

infrastructure as a service
platform as a Service
Software as a Service

By End-User

BFSI
Healthcare
Retail
Manufacturing
Government
IT
Telecom
Others

Key Objectives of the Global Public Cloud Market Report:

The report conducts a comparative assessment of the leading market players participating in the globalPublic Cloud
The report marks the notable developments that have recently taken place in the Public Cloud industry
It details on the strategic initiatives undertaken by the market competitors for business expansion.
It closely examines the micro- and macro-economic growth indicators, as well as the essential elements of thePublic Cloud market value chain.
The repot further jots down the major growth prospects for the emerging market players in the leading regions of the market

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