Cloud Computing Market Size, Share, Growth Drivers, Opportunities & Statistics (2024)

TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 31)

1.1 STUDY OBJECTIVES

1.2 MARKET DEFINITION

1.2.1 INCLUSIONS AND EXCLUSIONS

1.3 MARKET SCOPE

1.3.1 MARKET SEGMENTATION

1.3.2 REGIONS COVERED

1.3.3 YEARS CONSIDERED

1.4 CURRENCY CONSIDERED

TABLE 1 USD EXCHANGE RATES, 2018–2022

1.5 STAKEHOLDERS

1.6 SUMMARY OF CHANGES

1.6.1 RECESSION IMPACT

2 RESEARCH METHODOLOGY (Page No. - 38)

2.1 RESEARCH APPROACH

FIGURE 1 CLOUD COMPUTING MARKET: RESEARCH DESIGN

2.1.1 SECONDARY DATA

2.1.2 PRIMARY DATA

2.1.2.1 Breakup of primary profiles

2.1.2.2 Key industry insights

2.2 MARKET FORECAST

TABLE 2 FACTOR ANALYSIS

2.3 MARKET SIZE ESTIMATION

FIGURE 2 MARKET: TOP-DOWN AND BOTTOM-UP APPROACHES

2.3.1 TOP-DOWN APPROACH

FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH

2.3.2 BOTTOM-UP APPROACH

FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH

FIGURE 5 MARKET: RESEARCH FLOW

2.3.3 MARKET ESTIMATION APPROACHES

FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY (SUPPLY SIDE): ILLUSTRATION OF VENDOR REVENUE ESTIMATION

FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY: SUPPLY-SIDE ANALYSIS

FIGURE 8 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH FROM SUPPLY SIDE, COLLECTIVE REVENUE OF VENDORS

FIGURE 9 DEMAND-SIDE APPROACH: CLOUD COMPUTING MARKET

2.4 DATA TRIANGULATION

FIGURE 10 MARKET: DATA TRIANGULATION

2.5 IMPACT OF RECESSION ON GLOBAL MARKET

2.6 RESEARCH ASSUMPTIONS

2.7 LIMITATIONS

3 EXECUTIVE SUMMARY (Page No. - 54)

TABLE 3 CLOUD COMPUTING MARKET SIZE AND GROWTH, 2018–2022 (USD BILLION, Y-O-Y %)

TABLE 4 MARKET SIZE AND GROWTH, 2023–2028 (USD BILLION, Y-O-Y %)

FIGURE 11 GLOBAL MARKET TO WITNESS SIGNIFICANT GROWTH

FIGURE 12 NORTH AMERICA TO ACCOUNT FOR LARGEST SHARE IN 2023

FIGURE 13 FASTEST-GROWING SEGMENTS OF MARKET

4 PREMIUM INSIGHTS (Page No. - 60)

4.1 OVERVIEW OF CLOUD COMPUTING MARKET

FIGURE 14 RISE OF REMOTE WORK AND GLOBALIZATION TO DRIVE MARKET GROWTH

4.2 MARKET, BY SERVICE MODEL

FIGURE 15 SAAS SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE DURING FORECAST PERIOD

4.3 MARKET, BY DEPLOYMENT MODEL

FIGURE 16 PUBLIC CLOUD DEPLOYMENT TO ACCOUNT FOR LARGEST MARKET SHARE DURING FORECAST PERIOD

4.4 MARKET, BY ORGANIZATION SIZE

FIGURE 17 LARGE ENTERPRISES SEGMENT TO ACCOUNT FOR LARGER MARKET SHARE DURING FORECAST PERIOD

4.5 MARKET, BY VERTICAL

FIGURE 18 BFSI VERTICAL TO ACCOUNT FOR LARGEST MARKET SHARE IN 2023

4.6 MARKET: REGIONAL SCENARIO

FIGURE 19 ASIA PACIFIC EXPECTED TO EMERGE AS BEST MARKET FOR INVESTMENTS IN NEXT FIVE YEARS

5 MARKET OVERVIEW AND INDUSTRY TRENDS (Page No. - 63)

5.1 INTRODUCTION

5.2 MARKET DYNAMICS

FIGURE 20 CLOUD COMPUTING MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES

5.2.1 DRIVERS

5.2.1.1 Accelerated spending on cloud

FIGURE 21 GLOBAL PUBLIC CLOUD INFRASTRUCTURE-AS-A-SERVICE (IAAS) END-USER SPENDING (BILLION USD)

5.2.1.2 Rising demand for AI

FIGURE 22 AVERAGE NUMBER OF AI OR ML PROJECTS DEPLOYED

5.2.1.3 Personalized customer experience

5.2.1.4 Need for disaster recovery and contingency plans

5.2.2 RESTRAINTS

5.2.2.1 Data security and privacy concerns

FIGURE 23 ENTERPRISE SECURITY ISSUES

5.2.2.2 Lack of technical knowledge and expertise

5.2.3 OPPORTUNITIES

5.2.3.1 Increasing government initiatives

5.2.3.2 Adoption of IoT and connected devices

FIGURE 24 PROGNOSIS OF WORLDWIDE SPENDING ON INTERNET OF THINGS (IOT) FROM 2018 TO 2023 (BILLION USD)

5.2.4 CHALLENGES

5.2.4.1 High complexity due to adoption of multi-cloud model

5.2.4.2 Risk of vendor lock-in

5.3 CASE STUDY ANALYSIS

5.3.1 CASE STUDY 1: ZEOTAP IMPLEMENTED DEVOPS ARCHITECTURE TO IMPROVE PROCESS OPTIMIZATION

5.3.2 CASE STUDY 2: GHOST TEAM IMPLEMENTED DIGITALOCEAN’S APP TO MEET ITS CLOUD COMPUTING REQUIREMENTS

5.3.3 CASE STUDY 3: CITRIX CLOUD ENABLED AUTODESK TO ENHANCE ITS DIGITIZATION

5.3.4 CASE STUDY 4: AWS CLOUD HELPED SIMSCALE SIMULATE COST-EFFECTIVE DESIGNS AND MAKE BETTER-INFORMED DECISIONS

5.3.5 CASE STUDY 5: ACCENTURE DIGITAL EXPERIENCE REVOLUTIONIZED MINNA BANK

5.4 SUPPLY CHAIN ANALYSIS

FIGURE 25 CLOUD COMPUTING MARKET: SUPPLY CHAIN

5.5 ECOSYSTEM ANALYSIS

FIGURE 26 MARKET: ECOSYSTEM

5.6 PORTER’S FIVE FORCES ANALYSIS

FIGURE 27 MARKET: PORTER’S FIVE FORCES ANALYSIS

TABLE 5 MARKET: PORTER’S FIVE FORCES ANALYSIS

5.6.1 THREAT OF NEW ENTRANTS

5.6.2 THREAT OF SUBSTITUTES

5.6.3 BARGAINING POWER OF SUPPLIERS

5.6.4 BARGAINING POWER OF BUYERS

5.6.5 INTENSITY OF COMPETITIVE RIVALRY

5.7 PRICING ANALYSIS

5.7.1 AVERAGE SELLING PRICE (ASP) TREND OF KEY PLAYERS, BY SOLUTION

TABLE 6 CLOUD COMPUTING MARKET: AVERAGE PRICING LEVELS (USD)

5.7.2 INDICATIVE PRICING ANALYSIS OF CLOUD COMPUTING SOLUTIONS

TABLE 7 INDICATIVE PRICING ANALYSIS OF CLOUD COMPUTING SOLUTIONS

5.8 TECHNOLOGY ANALYSIS

5.8.1 KEY TECHNOLOGY

5.8.1.1 Containerization

5.8.1.2 Virtualization

5.8.2 COMPLIMENTARY TECHNOLOGY

5.8.2.1 Internet of Things (IoT)

5.8.2.2 Cybersecurity

5.8.2.3 DevOps

5.8.3 ADJACENT TECHNOLOGY

5.8.3.1 Artificial Intelligence (AI)

5.8.3.2 Big data

5.8.3.3 Data analytics

5.8.3.4 Machine Learning (ML)

5.8.3.5 5G

5.9 PATENT ANALYSIS

FIGURE 28 NUMBER OF PATENTS PUBLISHED, 2012–2023

FIGURE 29 TOP FIVE PATENT OWNERS (GLOBAL)

TABLE 8 TOP TEN PATENT OWNERS

TABLE 9 PATENTS GRANTED TO VENDORS IN CLOUD COMPUTING MARKET

5.10 TRENDS/DISRUPTIONS IMPACTING BUYERS

FIGURE 30 MARKET: TRENDS/DISRUPTIONS IMPACTING BUYERS

5.11 REGULATORY LANDSCAPE

5.11.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS

5.11.1.1 Regulatory implications and industry standards

5.11.1.2 General Data Protection Regulation

5.11.1.3 SEC Rule 17a-4

5.11.1.4 ISO/IEC 27001

5.11.1.5 System and Organization Controls 2 Type II compliance

5.11.1.6 Financial Industry Regulatory Authority

5.11.1.7 Freedom of Information Act

5.11.1.8 Health Insurance Portability and Accountability Act

5.11.2 REGULATIONS, BY REGION

TABLE 10 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS

TABLE 11 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS

TABLE 12 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS

TABLE 13 ROW: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS

5.12 KEY STAKEHOLDERS AND BUYING CRITERIA

5.12.1 KEY STAKEHOLDERS IN BUYING PROCESS

FIGURE 31 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP INDUSTRY VERTICALS

TABLE 14 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP INDUSTRY VERTICALS

5.12.2 BUYING CRITERIA

FIGURE 32 KEY BUYING CRITERIA FOR TOP INDUSTRY VERTICALS

TABLE 15 KEY BUYING CRITERIA FOR TOP INDUSTRY VERTICALS

5.13 KEY CONFERENCES AND EVENTS

TABLE 16 CLOUD COMPUTING MARKET: DETAILED LIST OF CONFERENCES AND EVENTS, 2023–2024

5.14 BUSINESS MODEL ANALYSIS

FIGURE 33 BUSINESS MODEL: MARKET

5.14.1 PAY-AS-YOU-GO

5.14.2 SUBSCRIPTION MODEL

5.14.3 FREEMIUM

5.14.4 CUSTOM PRICING AGREEMENT

6 CLOUD COMPUTING MARKET, BY SERVICE MODEL (Page No. - 98)

6.1 INTRODUCTION

FIGURE 34 SAAS SEGMENT TO ACCOUNT FOR LARGEST SIZE DURING FORECAST PERIOD

6.1.1 SERVICE MODEL: MARKET DRIVERS

TABLE 17 MARKET, BY SERVICE MODEL, 2018–2022 (USD BILLION)

TABLE 18 MARKET, BY SERVICE MODEL, 2023–2028 (USD BILLION)

6.2 INFRASTRUCTURE-AS-A-SERVICE (IAAS)

6.2.1 HIGH FLEXIBILITY AND SCALABILITY TO ALLOW FOR EASY UPGRADES WITHOUT INCURRING LOSSES

FIGURE 35 COMPUTE SEGMENT TO ACCOUNT FOR LARGEST MARKET SIZE DURING FORECAST PERIOD

TABLE 19 IAAS: MARKET, BY REGION, 2018–2022 (USD BILLION)

TABLE 20 IAAS: MARKET, BY REGION, 2023–2028 (USD BILLION)

TABLE 21 MARKET, BY IAAS, 2018–2022 (USD BILLION)

TABLE 22 MARKET, BY IAAS, 2023–2028 (USD BILLION)

6.2.1.1 Primary storage

6.2.1.1.1 Primary storage to eliminate need for purchasing and managing data storage infrastructure

TABLE 23 PRIMARY STORAGE: MARKET, BY REGION, 2018–2022 (USD BILLION)

TABLE 24 PRIMARY STORAGE: MARKET, BY REGION, 2023–2028 (USD BILLION)

6.2.1.2 Disaster recovery & backup

6.2.1.2.1 Backup & disaster recovery applications providing protection for enterprise application data during disasters and assistance in speedy recovery process

TABLE 25 DISASTER RECOVERY & BACKUP: MARKET, BY REGION, 2018–2022 (USD BILLION)

TABLE 26 DISASTER RECOVERY & BACKUP: MARKET, BY REGION, 2023–2028 (USD BILLION)

6.2.1.3 Archiving

6.2.1.3.1 Data archiving systems to reduce primary storage and associated costs

TABLE 27 ARCHIVING: CLOUD COMPUTINGMARKET, BY REGION, 2018–2022 (USD BILLION)

TABLE 28 ARCHIVING: MARKET, BY REGION, 2023–2028 (USD BILLION)

6.2.1.4 Compute

6.2.1.4.1 Compute-intensive applications to offer affordability, scalability, integration, and load balancing

TABLE 29 COMPUTE: MARKET, BY REGION, 2018–2022 (USD BILLION)

TABLE 30 COMPUTE: MARKET, BY REGION, 2023–2028 (USD BILLION)

6.3 PLATFORM-AS-A-SERVICE (PAAS)

6.3.1 PAAS ENABLING QUICK CREATION OF NEW SOFTWARE BY PROVIDING COMPUTATION AND STORAGE INFRASTRUCTURES

FIGURE 36 DATA MANAGEMENT SEGMENT TO ACCOUNT FOR LARGEST MARKET SIZE DURING FORECAST PERIOD

TABLE 31 PAAS: MARKET, BY REGION, 2018–2022 (USD BILLION)

TABLE 32 PAAS: MARKET, BY REGION, 2023–2028 (USD BILLION)

TABLE 33 MARKET, BY PAAS, 2018–2022 (USD BILLION)

TABLE 34 MARKET, BY PAAS, 2023–2028 (USD BILLION)

6.3.1.1 Application development & platforms

6.3.1.1.1 Application development to provide cost-efficiency, scalability, and rapid development

TABLE 35 APPLICATION DEVELOPMENT & PLATFORMS: CLOUD COMPUTINGMARKET, BY REGION, 2018–2022 (USD BILLION)

TABLE 36 APPLICATION DEVELOPMENT & PLATFORMS: MARKET, BY REGION, 2023–2028 (USD BILLION)