Market Overview:
The global Public Cloud Market size was valued at USD 457.56 billion in 2022, and is projected to reach USD 1012.57 billion by 2032 at a CAGR of 18.5% from 2022 to 2032.
The public cloud market refers to the segment of cloud computing where cloud resources such as storage, computing power, and applications are delivered to customers over the internet by third-party providers. In the public cloud, multiple users can access the same infrastructure and services simultaneously. Public Cloud Market has experienced tremendous growth in recent years, driven by the benefits of cost savings, flexibility, scalability, and ease of use. The public cloud market is characterized by a number of trends, including the increasing adoption of cloud-based services by organizations of all sizes, the growing importance of data analytics and artificial intelligence in driving business decisions, and the rising popularity of serverless computing architectures. In addition, the emergence of hybrid cloud models, which combine public and private cloud infrastructure, is also driving growth in Public Cloud Market.
Some of the key opportunities in the public cloud market include the development of new applications and services that leverage the power of the cloud, the integration of cloud-based tools with existing enterprise systems, and the growing demand for cloud-based storage and backup solutions. One of the main driving factors of the public cloud market is the increasing adoption of cloud computing by businesses of all sizes. As organizations seek to reduce costs, improve operational efficiency, and gain a competitive advantage, many are turning to cloud-based solutions to meet their computing needs. Public cloud providers offer a range of services that can be tailored to meet the specific needs of different types of businesses, from small startups to large multinational corporations. Another factor driving the public cloud market is the growing importance of data analytics and artificial intelligence in driving business decisions. As organizations seek to gain insights from their data and use those insights to inform strategic decision-making, they are increasingly turning to cloud-based analytics tools and platforms.
Growing demand for cloud-based solutions among enterprises is propelling Public Cloud Market growth.
One of the major driving factors for the public cloud market is the increasing demand for cloud-based solutions among enterprises. This demand is being driven by several factors, including the need for scalability, cost-effectiveness, flexibility, and ease of use. Public cloud solutions offer enterprises the ability to access resources and services on a pay-per-use basis, enabling them to scale up or down as needed and avoid the high costs associated with on-premises infrastructure. Another driving factor is the rise of digital transformation initiatives, which are driving the adoption of cloud computing solutions. As companies strive to improve their digital capabilities and stay competitive in Public Cloud Market, they are increasingly turning to cloud-based solutions to support their operations. Moreover, the increasing adoption of artificial intelligence (AI) and machine learning (ML) technologies is also fueling the demand for public cloud solutions, as these technologies require large amounts of data storage and processing power, which can be easily and cost-effectively provided through cloud services.
Segmentation:
· Based on cloud service type: The public cloud market can be segmented into Infrastructure as a Service (IaaS), Platform as a Service (PaaS), and Software as a Service (SaaS).
· Based on organization size: The public cloud market can be segmented into small and medium-sized enterprises (SMEs) and large enterprises.
· Based on vertical: The public cloud market can be segmented into various industries, including healthcare, BFSI, retail, IT and telecom, government, and others.
Geography:
As of 2021, the North American region dominates the public cloud market. However, the Asia-Pacific region is expected to witness the highest growth rate in the coming years due to the increasing adoption of cloud-based technologies by small and medium-sized businesses in the region. Europe is also a significant market for public cloud services, with countries like Germany, France, and the UK being major contributors to Public Cloud Market growth.
Impact of COVID-19 on the global Public Cloud Market:
The COVID-19 pandemic has had a significant impact on the public cloud market. The sudden shift to remote work and the increased demand for online services and e-commerce has led to a surge in cloud adoption. The pandemic has also resulted in an increase in cloud spending by organizations as they seek to ensure business continuity and resiliency. This has led to an increased demand for cloud infrastructure, platform and software services, and cloud-based collaboration and communication tools. At the same time, the pandemic has had an adverse impact on some sectors such as travel, hospitality, and entertainment, leading to a decrease in demand for cloud services in these sectors. However, this has been offset by the increase in demand from other sectors, including healthcare, education, and finance. Overall, the pandemic has accelerated the adoption of cloud technology, and this trend is expected to continue in the coming years.
Impact of the Russia-Ukraine War on the global Public Cloud Market:
The ongoing Russia-Ukraine conflict can potentially have an impact on various markets, including the energy, agriculture, and financial sectors. As Ukraine is an important transit country for Russian natural gas to Europe, any disruption or escalation of the conflict could cause disruptions in gas supplies and lead to price hikes in the energy market. Additionally, the conflict can also lead to trade disruptions and affect the agricultural sector, as Ukraine is a major exporter of grains and other agricultural products. The war can also have an impact on the financial market, as the instability and uncertainty can lead to fluctuations in the value of the Ukrainian currency and affect investor confidence in the region. Overall, the impact of the Russia-Ukraine war on Public Cloud Market is highly dependent on the duration and intensity of the conflict, as well as the actions and responses of other countries and international organizations.
Company Profiles:
· Amazon Web Services
· Microsoft Corporation
· Google Cloud Platform
· Alibaba Cloud
· IBM Corporation
· Oracle Corporation
· Salesforce.com
· SAP SE
· VMware, Inc.
· Cisco Systems, Inc.
· Dell Technologies, Inc.
· Hewlett Packard Enterprise (HPE)
· Huawei Technologies Co., Ltd.
· Rackspace Technology, Inc.
· DigitalOcean, Inc.
Global Public Cloud Market: Market Size EstimationWe Market Research senior executive is assigned to each consulting engagement and works closely with the project team to deliver as per the clients expectations.
Market Research Process
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One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached Straits Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2028.
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