According to a research report “Cloud Computing Market by Service Model (Infrastructure as a Service (IaaS), Platform as a Service (PaaS), and Software as a Service (SaaS)), Deployment Model (Public and Private), Organization Size, Vertical, and Region – Global Forecast to 2026″, published by MarketsandMarkets, the global cloud computing market size is expected to grow from USD 445.3 billion in 2021 to USD 947.3 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 16.3% during the forecast period. The flexibility and agility of cloud-based models would support the IT service needs of enterprises. The leading CSPs/hyperscalers—Microsoft, Alphabet, IBM, and AWS—are expected to increase their CAPEX primarily for data center expansion to support the increasing workload for their internal and external stakeholders. The increasing volume of data generation in websites and mobile apps, rising focus on delivering customer-centric applications for driving customer satisfaction, and growing need to control and reduce Capital Expenditure (CAPEX) and Operational Expenditure (OPEX) are a few factors driving the growth of the emerging technologies. The emerging technologies, such as big data, Artificial Intelligence (AI), and Machine Learning (ML) are gaining traction which is ultimately leading to the growth of the cloud computing market, globally.
Browse 402 market data Tables and 74 Figures spread through 346 Pages and in-depth TOC on “Cloud Computing Market – Global Forecast to 2026”
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The cloud computing market includes major vendors, such as AWS (US), Microsoft (US), Google (US), Alibaba (China), SAP (Germany), IBM (US), Oracle (US), VMware (US), Rackspace (US), Salesforce (US), Adobe (US), CenturyLink (US), Fujitsu (Japan), Workday (US), Infor (US), Sage Group (UK), Intuit (US), Epicor (US), IFS (Sweden), ServiceNow (US), OpenText (US), Cisco (US), Box (US), Zoho (US), Citrix (US), Upland Software (US), DigitalOcean (US), Bluelock (US), OVH (France), Joyent (US), Skytap (US), Virtuestream (US), Tencent (China), DXC (US), NEC (Japan), and Navisite (US).
The major players have implemented various growth strategies to expand their global presence and increase their market shares. Key players such as IBM, Alibaba, Salesforce, Oracle, Google, AWS, and Microsoft have majorly adopted many growth strategies, such as new product launches, acquisitions, and partnerships, to expand their product portfolios and grow further in the cloud computing market.
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North America to account for the highest market share during the forecast period
North America is a mature market in terms of cloud computing services adoption, owing to a large presence of enterprises with advanced IT infrastructure and the availability of technical expertise. BFSI, IT and telecommunications, and government and public sector verticals majorly adopt cloud computing services. As the benefits of adopting cloud computing services are becoming more evident, more companies are expected to implement cloud computing services. The US and Canada are the top countries contributing to the growth of cloud computing market in North America.
The report also studies various growth strategies, such as mergers and acquisitions, partnerships and collaborations, and developments, adopted by the major players to expand their presence in the global cloud computing market. The cloud computing market includes major vendors, such as AWS (US), Microsoft (US), Google (US), Alibaba (China), SAP (Germany), IBM (US), Oracle (US), VMware (US), Rackspace (US), Salesforce (US), Adobe (US), CenturyLink (US), Fujitsu (Japan), Workday (US), Infor (US), Sage Group (UK), Intuit (US), Epicor (US), IFS (Sweden), ServiceNow (US), OpenText (US), Cisco (US), Box (US), Zoho (US), Citrix (US), Upland Software (US), DigitalOcean (US), Bluelock (US), OVH (France), Joyent (US), Skytap (US), Virtuestream (US), Tencent (China), DXC (US), NEC (Japan), and Navisite (US).
AWS is a leading player in the cloud computing market. The company has developed a broad set of infrastructure service capabilities across compute, storage, networking, and content delivery. These products enable efficient cloud infrastructure management on AWS. The growing demand for automation and rising adoption of public cloud, especially among SMEs, have further fueled the increasing demand for AWS cloud products, which offer robust features and functionalities to customers. Its offerings enable easy and secure access to critical data at low costs and flexible resource optimization as per business needs. AWS has implemented various organic growth strategies to strengthen its foothold in the cloud computing market. The company has launched and upgraded its products and services to enhance its product portfolio. The company is expanding its global reach with the help of its business expansion strategy. It has also partnered with various vendors across the globe to provide technical enablement, business enablement, and sales and marketing enablement.
Microsoft’s major cloud offerings include SaaS (Microsoft Dynamics Online [Enterprise Resource Planning (ERP) + Customer Relationship Management (CRM)] and O365 Online), and Infrastructure as a Service (IaaS), and Platform as a Service (PaaS) (Microsoft Azure [compute, integration, and networking]). Microsoft Azure enables businesses to build, manage, and deploy applications on global networks easily and quickly. The company follows organic and inorganic growth strategies. For instance, Microsoft announced to enable government customers to run the cloud technology on their own servers to make Azure more appealing to local and federal agencies. The company offered a combination of its Azure Stack and Azure Government products in the mid of 2021. Moreover, Microsoft partnered with SAP to give customers a trusted path to digital transformation in cloud. With this partnership, the companies would co-engineer, go to market together with premier solutions, and provide joint support services to deliver the best cloud experience to customers.
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