NEW YORK, Sept. 24, 2023 /PRNewswire/ — TheCloud Computing Marketreport has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the cloud computing market between 2022 and 2027 is USD 18.7 billion. The increased inclination toward cloud computing for cost-cuttingdrives market growth. High CAPEX and operating costs (OPEX) are required to set up a data center and organizations incur high CAPEX to purchase and maintain the hardware, software, operating systems, and servers needed to set up their data centers. Dedicated hardware is more cost-effective for an organization, especially to meet its sustainable computing or storage needs, which results in some organizations choosing a private or hybrid cloud service, that can be customized to business needs.Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy the full report here
- Market Challenge – System integration issueschallenge the growth of the cloud computing market. Learn about additional key drivers, trends, and challenges available with Technavio. Read a Sample PDF Report Now
The cloud computing market is segmented by Service (SaaS, IaaS, and PaaS), Deployment (Public cloud and Private cloud), and Geography (Latin America).
- TheSaaS segmentwill be significant during the forecast period. In this model, users have access to various software and application components and features for a subscription fee. Cost and complexity associated with purchasing, configuring, and managing the hardware and software products needed to run applications can be eliminated using this segment. It provides enterprise software applications such as enterprise resource planning (ERP), customer relationship management (CRM), human resource management (HRM), and others. Hence, such factors drive the growth of the SaaS segment of the cloud computing market during the forecast period.
View a Sample Report for insights into the contribution of all the segments and regional opportunities in the report.
Key Companies in the cloud computing market:
Alphabet Inc., Amazon.com Inc., Capgemini Service SAS, Cisco Systems Inc., Citrix Systems Inc., Deloitte Touche Tohmatsu Ltd., HCL Technologies Ltd., Hewlett Packard Enterprise Co., Huawei Technologies Co. Ltd., Infosys Ltd., International Business Machines Corp., Microsoft Corp., Nippon Telegraph and Telephone Corp., Oracle Corp., Rackspace Technology Inc., Salesforce Inc., SAP SE, Telefonica SA, VMware Inc., Wipro Ltd.
- How do the major trends impact the market?
- How do the key drivers and challenges impact the market?
TheCloud Professional Services Marketsize is estimated to grow at a CAGR of 15.88% between 2022 and 2027. The market size is forecast to increase by USD 23.15 billion. This cloud professional services market report extensively covers market segmentation by deployment (public cloud and private cloud), end-user (large enterprises, small, and medium-sized enterprises (SMEs)), and geography (North America, Europe, APAC, Middle East and Africa, and South America). One of the key factors driving the cloud professional services market growth is the digital transformation of end-user industries.
TheCloud ERP marketsize is estimated to grow at a CAGR of 10.02% between 2022 and 2027. The market size is forecast to increase by USD 15,379.75 million. This Cloud ERP market report extensively covers market segmentation by component (solutions and services), end-user (BFSI, manufacturing and services, government, and others), and geography (North America, Europe, APAC, Middle East and Africa, and South America). The increasing demand for process automation and digital transformation is driving market growth.
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Service
Market Segmentation by Deployment
Drivers, Challenges, & Trends
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