Private Cloud Services Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 to 2029

Increasing Data Security Concerns and Convenient Service Models to Ensure Rapid Growth for Private Cloud Services Market

The private cloud services market worldwide is expected to grow with a CAGR of 18.9% during the forecast period from 2021 to 2029, starting from US$ 50.60 Bn in 2020. Overall cloud services sector worldwide is witnessing tremendous growth since the past few years with growth rate of more than 20% every year. Of these, private cloud spending has been growing with growth rate of over 25% (year-on-year) since the past five years. Various organizations worldwide have increased their spending on private cloud due to higher security, convenient deployment model, total control and ownership of the setup. Nevertheless, higher cost and predominant existence of public cloud services are the major factors hampering the private cloud services market growth.

SaaS to Continue Dominating the Market

In 2020, the overall private cloud services market was led by the SaaS segment contributing to over 40% of the total revenue generated worldwide. The segment was followed by IaaS segment, with ‘Storage-as-a-Service’ gaining rapid traction across the globe. Further, based on deployment model, the market was led by hosted private cloud segment. In the following years, on-premise private cloud (a newer deployment of private cloud) is expected to register higher growth in the market. The growth is attributed to increasing demand by the enterprises towards enhanced control over the cloud infrastructure.

Asia Pacific to Register the Fastest Growth

Private cloud services market is led by North America. In 2020, the regional market accounted for nearly 45% of the total revenue generated worldwide. The market here primarily backed by the U.S. having the highest spending on cloud services across the globe. The U.S. is among the earliest adopters of cloud services and is home to numerous major cloud service providers. Subsequently, benefits of private cloud is duly understood by the enterprises here, leading to higher penetration. Europe follows North America with major regional markets including the U.K., Germany, Italy, France and Nordic countries. Asia Pacific is set to register the highest growth in the market during the forecast period. Rapidly growing data generation, data analytics, IoT and artificial intelligence in the region is the major factor supporting market growth.

Some of the prominent players operating in the private cloud services market include Amazon Web Services, Cisco Systems, Inc., Dell EMC, Google, LLC, HPE Company, IBM Corporation, Microsoft Corporation, Oracle Corporation, Rackspace, Inc., Red Hat, Inc., Salesforce.com, Inc. and VMware, Inc. among others.

Historical & Forecast Period

This research report presents the analysis of each segment from 2019 to 2029 considering 2020 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segments calculated for the forecast period from 2021 to 2029.

Report Scope by Segments

The private cloud services market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of global private cloud services market based on service type, deployment model, industry vertical and geography. Key segments covered in the report are as follows:

Service Type Segment (2019-2029; US$ Bn)

• Software-as-a-Service (SaaS)
• Infrastructure-as-a-Service (IaaS)
• Platform-as-a-Service (PaaS)

Deployment Model Segment (2019-2029; US$ Bn)

• On-premise Private Cloud
• Hosted Private Cloud

Industry Vertical Segment (2019-2029; US$ Bn)

• BFSI
• IT & Telecom
• Healthcare
• Government
• Manufacturing
• Retail
• Media & Entertainment
• Others

Geography Segment (2019-2029; US$ Bn)

• North America (U.S., Rest of North America)
• Europe (U.K., Germany, France, Rest of Europe)
• Asia Pacific (China, Japan, India, Rest of Asia Pacific)
• Rest of the World (Middle East & Africa, Latin America)

Key questions answered in this report

• What was the market size of private cloud services in 2020 and forecast up to 2029?
• Which is the largest regional market for private cloud services?
• What are the major trends followed in overall private cloud services across different regions?
• Who are the key private cloud services companies leading the market?
• What are the key strategies adopted by the leading private cloud services companies in market?

Unique data points of this report

• Statistics on cloud services penetration and spending worldwide
• Recent trends across different regions in terms of adoption of private cloud services across various applications
• Notable developments going on in cloud industry
• Attractive investment proposition for segments as well as geography
• Comparative scenario for all the segments for years 2020 (actual) and 2029 (forecast)

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