March 31, 2020
Public Cloud Services

Public Cloud Services Market is estimated to grow with a CAGR of 16.5% during the forecast period from 2019 to 2027

The global market for public cloud services was valued at US$ 182.36 billion in 2018 and is expected to grow at 16.5 per cent CAGR over the forecast period from 2019 to 2027.

The worldwide demand for public cloud services is driven primarily by the multitude of investments made by established tech-giants in cloud computing. Many small and medium-sized enterprises in emerging economies are still largely dependent on on on-site facilities and focused on upgrading their existing solutions to fit the evolving IT landscape rather than changing their operating model. However, the benefits of cloud-based solutions in terms of operating costs, maintenance and software upgrades encourage companies to adopt cloud solutions and thus drive the market forward.

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With a view to transforming their existing business processes into connected ones, companies around the world are slowly but steadily jumping the bandwagon of digitalisation. Advances in cloud computing is a fast-moving trend that drives demand for uninterrupted global data connectivity and drives massive data volumes across multiple industry verticals, including BFSI, IT & Telecom, retail, government, and healthcare, among others. As a result, ever-increasing data volumes have required businesses worldwide to adopt cloud services for data storage and other computing services.

In terms of service type, the cloud aApplication services (SaaS) Value Contribution was the largest in the global market for public cloud services, accounting for more than 45 per cent of the total market value. The trend is expected to continue and the segment is expected to remain the largest revenue contributor to the segment by 2027. On the other hand, cloud system infrastructure services (IaaS) will be subject to maximum adoption during the forecast period from 2019 to 2027. The expected increase in the adoption of cloud system infrastructure services (IaaS) will be driven by a number of strategic initiatives such as digital transformation projects that support hybrid cloud adoption.

Some of the leading manufacturers identified in the research study include Amazon Web Services, Salesforce.com, Microsoft Corporation, Google LLC, Oracle Corporation, SAP SE, Hewlett-Packard Company, IBM Corporation, VMware, Inc., Cisco Systems Inc., and Rackspace, Inc., among others.

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Key questions answered in this report

  • What was the global public cloud services market value in 2017 & 2018?
  • What is the estimated forecast and market projections for the global public cloud services market from 2019 up to 2026?
  • Which is the largest public cloud services market in terms of geography?
  • Which cloud service delivery model contributes the largest revenue worldwide?
  • Which end-use vertical has the highest penetration of public cloud services?
  • Which end-use vertical will be the most attractive segment for vendors to invest?
  • Predominant trends shaping the global public cloud services market worldwide
  • Who are the leading vendors in the global public cloud services market worldwide?
  • What are the key strategies adopted by the leading manufacturers in the global public cloud services market?

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