Acumen Research and Consulting estimates that global public cloud market is expected to reach the market value of around US$ 250 Bn by 2027 and is anticipated to grow at a CAGR of around 15% in terms of revenue during the forecast period 2020 – 2027.
Public cloud refers to a model-based provider of standard cloud computing, enabling general users to access online virtual machines, storage or applications. The public cloud is either free of charge or pay-per-use. These services offer a highly scalable, cost-aware and agile business growth perspective and efficient growth prospects, which have resulted in an increase in public cloud demand from several businesses over the past decade.
The report provides analysis of global Public Cloud market for the period 2016-2027, wherein 2020 to 2027 is the forecast period and 2019 is considered as the base year.
Cloud computing offers a range of services including robust server efficiency, analytics, networking, and others. Besides, owing to the flexibility that the platform currently provides, the number of cloud service providers is increasing exponentially. As more and more corporations and micro-businesses heading towards digitalization, cloud providers are seeking new prospects. In the coming few years, such factors will play a key role in guiding the world's public cloud market. Furthermore, the development of the internet of objects (IoT) reflects cloud deployments positively. Policymakers are introducing new frameworks, especially in fast-developing countries, to increase digitalization and to facilitate cheap internet services for citizens. Because public cloud services are usually free, their popularity in countries like India, Brazil and China continues to increase. The outlook for the public cloud sector remains bright, with new growth prospects expected to arise in the immediate future.
North America region is anticipated to dominate the market led by the US due to the early adoption of technology. The presence and propensity of many vendors in the region is expected to help these areas maintain market position, including Microsoft Corporation, Amazon.com, Oracle Corporation, and IBM Corporation. Moreover, over 50% of US government agencies are estimated to have deployed the facilities. Moreover, the European nations have become a hub for the development of cloud technology, especially in the financial sector, which has attracted billions of dollars in investment worldwide.
Asia Pacific is anticipated to emerge as the significant growing region on the market amid the forecast period. China and India have steadily expanded together with the rise of international companies like the Alibaba Group over the last few years and have had a strong effect on Asia Pacific business growth.
The market research study on “Public Cloud Market (Public Cloud Market By Service: Platform as a Service, Infrastructure as a Service, Software as a Service; Public Cloud Market By Organizational Size: SMEs, Large Enterprises; Public Cloud Market By End Use: BFSI, Manufacturing, Government, Healthcare, IT & Telecommunication, Retail, Aerospace and Defense, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027” offers a detailed insights on the global Public Cloud market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report also provides competitive landscape to understand the current stance of particular player. The report covers global Public Cloud market size, and segment markets by service, organizational size, end use and geography along with the information on companies operating in the market. The Public Cloud market analysis is provided for major regional markets including North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report.
The global Public Cloud market is segmented as below:
Public Cloud Market By Service
Platform as a Service
Infrastructure as a Service
Software as a Service
Public Cloud Market By Organizational Size
Public Cloud Market By End Use
IT & Telecommunication
Aerospace and Defense
Public Cloud Market By Geography
Middle East & Africa
Key Players and Market Situation
Participants include major global players such Amazon.com, Inc., International Business Machines Corporation, Hewlett-Packard Enterprise, Microsoft Corporation, Google Inc., Oracle Corporation, Cisco Systems, Inc., VMware, Inc., Others.
Rise in investments in local data centers is a key driver of the market.
Latency in data retrieval.
The market value of public cloud is anticipated to be around US$ 250 Bn in 2027.
It is anticipated to grow around 15% CAGR amid the forecast period 2020-2027.
The key players operating in public cloud market such as Amazon.com, Inc., International Business Machines Corporation, Hewlett-Packard Enterprise, Microsoft Corporation, Google Inc., Oracle Corporation, Cisco Systems, Inc., VMware, Inc., Others.
Asia Pacific is projected to grow at a fast pace during forecast period 2020-2027.
North America held maximum share in 2019.