Pune, India, February 12, 2021 (GLOBE NEWSWIRE) – The universe cloud computing market It is expected to move from an increase in enterprise to Omni-cloud solutions from multi-cloud solutions. This information is provided by Fortune Business Insights ™ in a new report, titled, “Cloud Computing Market Size, Shared Impact Analysis & COVID-19, by Type (Public Cloud, Private Cloud, Hybrid Cloud), By Service (Infrastructure as a Service (IaaS), Platform as a Service (PaaS), Software as a Service (SaaS)), With Business (Banking, Financial Services, and Insurance (BFSI), IT and Telecommunications, Government, Consumer Products, and Retail, Healthcare, Manufacturing, Other), and Regional Outlook, 2020-2027. “The report also states that market size has stood the test of time 193.60 billion USD in 2019 and is expected to arrive 684.55 billion USD by 2027, exhibiting a CAGR of 17.6% during the expected period.
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Pandemic COVID-19: High demand for VoD solutions to stimulate growth
Demand for live streaming platforms, such as Amazon Prime, Netflix, and Hulu is rapidly complying with the lockout measures put in place by governments around the world to prevent the spread of coronavirus. These video-on-demand (VoD) solutions are leading to high demand for IaaS cloud-based services. Also, due to the work from home practices across the globe, there is a huge demand for SaaS-based collaboration solutions. We deliver verified reports to help you choose the right strategy to regain business confidence and generate more sales of cloud computing solutions.
To learn more about the short-term and long-term impact of COVID-19 on this market,
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This report answers the following questions:
- Which sector is going to lead the market soon?
- Which company would generate the highest revenue in future years?
- How do major companies promote cloud computing services among COVID-19?
- What are the estimated, historical and current volumes of the global market?
Drivers & Restrictions-
Crisis growth prefers to examine data-driven business strategies
The integration of innovative technologies, such as machine learning (ML) and artificial intelligence (AI) with cloud computing solutions is increasing across the globe. It is helpful in analyzing, visualizing and monitoring data-based business strategies. At the same time, such integration processes would allow companies to make complex data accessible and usable across the visual representation, as well as accelerate their visual capabilities. However, the growing number of privacy and security concerns related to unforeseen crises, application vulnerabilities, cyber attacks, and data breaches may hamper the overall growth of the cloud computing market in the coming years.
Segment-
Government Initiatives to Support Data Security & Integrity will drive the separation of BFSI
Based on business, the banking, financial services, and insurance (BFSI) sector received 16.1% share of the cloud computing market share in 2019. This growth is due to rising government initiatives to support give data security and integrity. The IT & telecommunications sector is likely to remain in the coming years due to increased use of these services to manage and store large amounts of data in the industry.
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Regional Analysis-
North America to stay at Forefront Owing to Presence of Amazon, IBM, & Apple
Regionally, in 2019, North America generated USD 58.10 billion in revenue. The market-leading segment is expected to be driven by the presence of several cloud computing service providers, namely, Apple Inc., IBM Corporation, and Amazon Web Services in the region. Asia Pacific, on the other hand, is poised to show remarkable growth soon with the help of rapid digitization and rise in internet. Europe would exhibit a substantial CAGR due to the high cost of cloud-based technologies in the region.
Competitive Landscape-
Key players aim to gain a competitive edge through new product launches
There are several reputable companies on the market that are either opening new data centers or launching new cloud computing solutions to gain competitive advantage. Most of them today are constantly striving to develop innovative solutions to make COVID-19 testing easy for health care workers. Below are two latest business developments:
- July 2020: Amazon Web Services (AWS) has opened three specialized data centers in Bahrain to enter the Middle East market. They currently plan to open a further nine access zones in South Africa, Italy and Indonesia to expand its presence.
- May 2020: Microsoft Corporation unveiled their latest cloud computing solution called Hospital Emergency Response to help healthcare institutions develop COVID-19 assessment tools, thus reducing the pressure on frontline workers.
List of all service providers present in this market:
- Amazon Web Services (AWS) (Washington, USA)
- Oracle Corporation (California, United States)
- IBM Corporation (New York, USA)
- Alibaba Holding Group Limited (Hangzhou, China)
- Microsoft Corporation (New Mexico, United States)
- VMware, Inc. (California, United States)
- Alphabet Inc. (Google LLC) (California, United States)
- Rackspace Technology, Inc. (Texas, United States)
- SAP SE (Walldorf, Germany)
- Apple Inc. (California, United States)
- Salesforce.com, Inc. (California, United States)
- HCL Technologies Limited (Noida, India)
- Hewlett-Packard Company (HPE) (California, USA)
- Sprint Corporation (Kansas, United States)
- Verizon Wireless (New York, United States)
- Red Hat, Inc. (North Carolina, United States)
- Ooma Inc. (California, United States)
- Paytm (Uttar Pradesh, India)
- Adobe, Inc. (California, United States)
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Main Contents for Cloud Computing Market:
Introduction
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- Explanation, By cookie
- Research Methodology / Approach
- Data sources
- Government Minutes
- Market dynamics
- Economic Macro and Micro Signals
- Drivers, Barriers, Opportunities and Bias
- Impact of COVID-19
- Short-term effects
- Long-term effects
- Competition Landscape
- Business strategies adopted by key players
- Confirmed SWOT analysis of key players
- Porter Force Five Study
- Market segment analysis and matrix, Cloud Cloud Computing, 2019
- Key market insights and analysis, by segment
- Global Cloud Computing (Quantitative Data) Market Size Measurements and Projections, By Sections, 2016-2027
- By type (value)
- Public Cloud
- Private cloud
- Cloud Hybrid
- With Service (Value)
- Infrastructure as a service (IaaS)
- Platform as a service (PaaS)
- Software as a service (SaaS)
- By industry (value)
- BFSI
- IT and Telecommunications
- Government
- Consumer Goods and Retail
- Health care
- Manufacturing
- Others (Energy and Resources, Education, Media and Leisure etc)
- By area (Value)
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
- By type (value)
TOC continues… !!!
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