Latest added Distributed Cloud Market research study by MarketDigits offers detailed product outlook and elaborates market review till 2027. The market Study is segmented by key regions that is accelerating the marketization. At present, the market is sharping its presence and some of the key players in the study are Amazon Web Services, Rackspace, Massive-grid, Alibaba Cloud, Liquid Web, Microsoft Azure, Google Cloud Platform, VMware, Oracle Cloud, VeriZon Cloud, and IBM Cloud. The study is a perfect mix of qualitative and quantitative Market data collected and validated majorly through primary data and secondary sources.
The distributed cloud market size is projected to reach USD 5.0 Billion by 2026, from USD 1.3 Billion in 2020 growing at a CAGR of 26.4% during 2021-2026.
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Factors driving the distributed cloud market include increased demand for low-cost data backup, storage and security across all industries, coupled with the need to manage data generated by increased use of mobile technologies and fostering distributed cloud adoption rates. The distributed cloud shifts the centralized model of most public cloud services to a new era in cloud computing. Furthermore, the need of high-end security and well-defined sharing are boosting the market growth during the forecast period 2021-2027.
- Data storage market held the highest market share xxx among the different services of the distributed cloud market in 2019. Low-cost data storage, faster data accessibility, adoption of cloud-based application across several industry verticals, growing concerns for data recovery & protection tends to penetrate the market growth during the forecast period.
- Banking and Financial Services is the dominant segment owing to the rising demand for agile, scalable, and cost-effective computing. Adding to this, the increasing number of digital services and their applications; and high penetration of hybrid cloud segment in the sector is enhancing the market growth.
- North America region dominated the distributed cloud market in 2019 due to high adoption of cloud services, advanced Information Technology (IT) infrastructure, presence of a large number of enterprises, and the availability of proficient technical expertise.
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Services – Segment Analysis
The Distributed Cloud market is segmented into data storage, networking, data security, autonomy, low latency and others. Among these, the market for data storage is witnessing significant growth during the forecast period 2021-2027. The demand for data storage is attributed to the digitization of the documents as the paper-work is gradually becoming increasing. Moreover, with an increase in the adoption rate of cloud computing among enterprises, the cloud storage market is expected to gain major traction during the forecast period 2021-2027.
End User – Segment Analysis
Banking and Financial Services is the dominant segment which is witnessing a significant growth rate of around 30.4% during the forecast period 2021-2027. Data Security, confidentiality, data sharing, are enhancing the market growth owing to their widespread use in BFSI. Furthermore, distributed cloud model delivers innovative customer experiences, effective collaboration thus enhancing the market growth. Agile innovation, risk mitigation, cost benefits are the three factors that were identified by the British Bankers’ Association (BBA) in 2018 for the adoption of public cloud-based services by banks. Various transactions can be scanned per second thus improving the industry’s ability to warfare financial crime, such as fraud and money laundering. Distributed cloud provides a platform for optimizing the banking operations while delivering innovative services to the customer, which is consequently boosting the demand for the distributed cloud segment for the Banking and Financial services domain.
Geography – Segment Analysis
North America dominated the Global market for Distributed Clouds. As of 2019, the region accounted for a leading share of 38.7%. The main drivers of North America’s Distributed Cloud market growth include factors such as digitization, presence of a large number of enterprises, data security, data back-up and data recovery. Furthermore, increased application of cloud computing, internet of things (IOT) and so on are enhancing the market growth. Adding to this, industrial automation, improving the services to the customers for quicker queries and others are boosting the growth of the Distributed Cloud market.
Drivers – Distributed Cloud Market
- Data Recovery
Distributed systems involve services communicating through different machines. This is where message integrity, confidentiality and authentication is required. Distributed cloud provides the mechanism to keep the data secure and reliable. The mechanism includes encryption, authentication, authorization and auditing. Distributed system keeps the data even if the machine goes down. Therefore, the data recovery factor is analyzed to boost the market growth.
The paper work is becoming deceased and the world is rapidly moving towards digitization and this process is still going on. The significant penetration of digital systems in various industries results in the large databases. Both offline and online activities are recorded and shared in data form, forming huge datasets which include structured and unstructured data from disparate sources. The availability of cloud infrastructure has made data access easy, with governments, educational institutes, and companies now storing massive cloud datasets and easily accessing them thereby boosting the market growth.
Challenges – Distributed Cloud Market
- Security concerns
Security is a big challenge in a distributed environment, especially when using public networks if proper protocols and policies are not followed. This act as constraint and hinders the growth of the distributed cloud market. In 2010, Microsoft configured an issue related to accessing of employee contact details through non authorized users of cloud services. However they fixed the issue in two hours and only a small number of employee were affected.
Partnerships and acquisitions along with product launches are the key strategies of the players in the Distributed Cloud Market. As of 2019, the market for Distributed Cloud is consolidated with the top 10 players accounting for approximately x% of the market share. The major players in the Distributed Cloud Market include IBM Corporation, Oracle Corporation, SAS Institute Inc., SAP SE, Cisco Systems, Data Artisans, TIBCO Software Inc., Informatica, Impetus Technologies and Data Torrent among others.
- In December 2019, Cubbit Cell an Italian startup involved in the building of the distributed, secure, eco-friendly cloud solutions has concluded the crowd-funding campaign and started to manufacture the product Cubbit Cell, a distributed network, where the files are encrypted, copied and distributed across various nodes, thereby helping users in taking control of the free and distributed network of the data.
- In 2019, Google Cloud and banking software company Temenos collaborated to provide financial services help assistance to organizations for running banking software and applications on Google Cloud.
A comprehensive analysis of the market structure along with the forecast of the various segments and sub-segments of the market have been delivered through this Distributed Cloud market report. The market research and analysis performed in this business report assists clients to forecast investment in an emerging market, expansion of market share or success of a new product. The market is greatly transforming because of the moves of the key players & brands including developments, product launches, joint ventures, mergers & acquisitions that in turn changes the view of the global face of industry.
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