The global cloud services market is expected to grow from $344.4 billion in 2019 to $354.8 billion in 2020 at a compound annual growth rate (CAGR) of 3.1%. The low growth is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 12% from 2021 and reach $490.4 billion in 2023
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The cloud services market consists of sales of cloud services services by entities (organizations, sole traders and partnerships) that provide cloud services or the delivery of information technology resources and applications on-demand through an Internet platform. Companies in the cloud services industry provide access to servers, storage, databases and a broad set of application services managed by a hardware networking. This market includes sales of storage servers which are used to store, access, secure and manage digital data, files and services.
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The cloud services market report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Some of the major players of the cloud services market are IBM, Microsoft, Amazon, Google, Salesforce
The Global Cloud Services Market is segmented:
1) By Type: Software as a service (SaaS), Platform as a service (PaaS), Infrastructure as a service (IaaS), Business Process as a service (BPaaS)
2) By End-User Industry: BFSI, Media And Entertainment, IT and Telecommunications, Energy And Utilities, Government And Public Sector, Retail And Consumer Goods, Manufacturing, Others
3) By Application: Storage, Backup, and Disaster Recovery, Application Development and Testing, Database Management, Business Analytics, Integration and Orchestration, Customer Relationship Management, Others
4) By Deployment Model: Public Cloud, Private Cloud, Hybrid Cloud
5) By Organisation Size: Large Enterprises, Small And Medium Enterprises
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The cloud services market report describes and explains the global cloud services market and covers 2015 to 2020, termed the historic period, and 2020 to 2025 termed the forecast period, along with further forecasts for the period 2025-2030. The cloud services report evaluates the market across each region and for the major economies within each region.
The countries covered in the global cloud services market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam.
The regions covered in the global cloud services market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Full Report Includes
- Executive Summary
- Report Structure
- Cloud Services Market Characteristics
- Cloud Services Market Product Analysis
- Cloud Services Market Supply Chain
- Key Mergers And Acquisitions In The Cloud Services Market
- Market Background: Machinery Manufacturing Market
- Copyright And Disclaimer
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