The global market for Cloud Computing Services is estimated at US$792.8 Billion in 2023 and is projected to reach US$2.1 Trillion by 2030, growing at a CAGR of 15.3% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The growth in the cloud computing services market is driven by several factors. One of the primary drivers is the rapid digital transformation across industries, which necessitates scalable and flexible IT solutions. The proliferation of Internet of Things (IoT) devices generates vast amounts of data that require robust storage and processing capabilities, further boosting demand for cloud services. The ongoing shift towards subscription-based models in software and IT services enhances the appeal of cloud solutions, offering predictable costs, regular updates, and easy scalability. Subscription models provide businesses with the flexibility to scale their usage up or down based on demand, optimizing costs and ensuring access to the latest features and security updates. Security enhancements in cloud infrastructure are mitigating concerns around data privacy and protection, making cloud adoption more attractive. Cloud providers are continuously improving their security measures, including encryption, identity management, and compliance certifications, ensuring that data is protected against breaches and unauthorized access. Lastly, regulatory compliance requirements are pushing organizations to adopt cloud solutions that offer built-in compliance features, ensuring they meet industry standards and legal obligations. Regulatory frameworks such as GDPR, HIPAA, and others mandate stringent data protection practices, and cloud services with integrated compliance capabilities help organizations adhere to these regulations. These factors collectively contribute to the robust growth trajectory of the cloud computing services market, as businesses seek to capitalize on the operational efficiencies, cost savings, and innovation potential offered by cloud technologies.
The growth in the cloud computing services market is driven by several factors. One of the primary drivers is the rapid digital transformation across industries, which necessitates scalable and flexible IT solutions. The proliferation of Internet of Things (IoT) devices generates vast amounts of data that require robust storage and processing capabilities, further boosting demand for cloud services. The ongoing shift towards subscription-based models in software and IT services enhances the appeal of cloud solutions, offering predictable costs, regular updates, and easy scalability. Subscription models provide businesses with the flexibility to scale their usage up or down based on demand, optimizing costs and ensuring access to the latest features and security updates. Security enhancements in cloud infrastructure are mitigating concerns around data privacy and protection, making cloud adoption more attractive. Cloud providers are continuously improving their security measures, including encryption, identity management, and compliance certifications, ensuring that data is protected against breaches and unauthorized access. Lastly, regulatory compliance requirements are pushing organizations to adopt cloud solutions that offer built-in compliance features, ensuring they meet industry standards and legal obligations. Regulatory frameworks such as GDPR, HIPAA, and others mandate stringent data protection practices, and cloud services with integrated compliance capabilities help organizations adhere to these regulations. These factors collectively contribute to the robust growth trajectory of the cloud computing services market, as businesses seek to capitalize on the operational efficiencies, cost savings, and innovation potential offered by cloud technologies.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Software as a Service (SaaS) segment, which is expected to reach US$1.3 Trillion by 2030 with a CAGR of a 15.0%. The Infrastructure as a Service (IaaS) segment is also set to grow at 17.1% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $204.1 Billion in 2023, and China, forecasted to grow at an impressive 19.8% CAGR to reach $547.2 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Cloud Computing Services Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Cloud Computing Services Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Cloud Computing Services Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Acquia Inc., Adobe Inc., Akamai Technologies, Inc., and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Select Competitors (Total 203 Featured):
- Acquia Inc.
- Adobe Inc.
- Akamai Technologies, Inc.
- Alibaba Cloud
- Amazon Web Services, Inc.
- CA Technologies, Inc.
- Dell Inc.
- ENKI Corporation
- Fujitsu Limited
- Google, Inc.
- Hewlett-Packard Development Company, L.P.
- IBM Corp.
- Microsoft Corp.
- NTT DATA Corporation
- Oracle Corporation
- OVH
- Salesforce.com, Inc.
- SAP SE
- ServiceNow, Inc.
- Virtustream, Inc.
- Workday Inc.
- Zoho Corporation Pvt. Ltd.
Table of Contents
I. METHODOLOGYII. EXECUTIVE SUMMARY2. FOCUS ON SELECT PLAYERSIII. MARKET ANALYSISCANADAITALYSPAINRUSSIAREST OF EUROPESOUTH KOREAREST OF ASIA-PACIFICARGENTINABRAZILMEXICOREST OF LATIN AMERICAIRANISRAELSAUDI ARABIAUNITED ARAB EMIRATESREST OF MIDDLE EASTIV. COMPETITION
1. MARKET OVERVIEW
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
UNITED STATES
JAPAN
CHINA
EUROPE
FRANCE
GERMANY
UNITED KINGDOM
ASIA-PACIFIC
AUSTRALIA
INDIA
LATIN AMERICA
MIDDLE EAST
AFRICA
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Acquia Inc.
- Adobe Inc.
- Akamai Technologies, Inc.
- Alibaba Cloud
- Amazon Web Services, Inc.
- CA Technologies, Inc.
- Dell Inc.
- ENKI Corporation
- Fujitsu Limited
- Google, Inc.
- Hewlett-Packard Development Company, L.P.
- IBM Corp.
- Microsoft Corp.
- NTT DATA Corporation
- Oracle Corporation
- OVH
- Salesforce.com, Inc.
- SAP SE
- ServiceNow, Inc.
- Virtustream, Inc.
- Workday Inc.
- Zoho Corporation Pvt. Ltd.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 354 |
| Published | October 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 792.8 Billion |
| Forecasted Market Value ( USD | $ 2100 Billion |
| Compound Annual Growth Rate | 15.3% |
| Regions Covered | Global |
