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Public Cloud Services Market: 59% Growth to Originate from North America, with AI Driving Market Transformation – Technavio

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NEW YORK, Dec. 10, 2024 /PRNewswire/ — Report with the AI impact on market trends – The global public cloud services market size is estimated to grow by USD 1.37 billion from 2024 to 2028, according to Technavio. The market is estimated to grow at a CAGR of 22.7% during the forecast period.

For comprehensive forecast and historic data on regions,market segments, customer landscape, and companies- Click for the snapshot of this report

Report Attribute

Details

Base Year

2023

Forecast period

2024-2028

Historic Data for

2018 – 2022

Segments Covered

Service (SaaS, IaaS, and PaaS), Type (SMEs and Large enterprise), and Geography (North America, Europe, APAC, South America, and Middle East and Africa)

Key Companies Covered

Adobe Inc., Alphabet Inc., Amazon.com Inc., AT and T Inc., Cisco Systems Inc., Dell Technologies Inc., Fujitsu Ltd., Hewlett Packard Enterprise Co., International Business Machines Corp., Microsoft Corp., Oracle Corp., Rackspace Technology Inc., Salesforce Inc., SAP SE, ServiceNow Inc., Tencent Holdings Ltd., Verizon Communications Inc., VMware Inc., Workday Inc., Alibaba Group Holding Ltd, AWS, Microsoft, Google, Salesforce, Alibaba Cloud, Oracle, IBM, SAP, Tencent, Workday, Fujitsu, VMWare, Rackspace, HPE, Adobe, NEC, Cisco, Dell Technologies, ServiceNow, OVH

Regions Covered

North America, Europe, APAC, South America, and Middle East and Africa

Region Outlook

North AmericaEuropeAsiaRest of World

1. North America – North America is estimated to contribute 59%. To the growth of the global market. The Public Cloud Services Market report forecasts market growth by revenue at global, regional & country levels from 2017 to 2027. 

Public cloud services have seen significant growth in the North American market over the past decade. Major cloud service providers, such as AWS, Microsoft, Google, and Oracle, have established their bases in the US due to increased demand for cloud computing services and rising data center investments. The public cloud model offers businesses the flexibility to scale resources according to their needs, making it an attractive option for start-ups and small to medium enterprises. In this model, the cloud vendor manages, maintains, and develops the shared pool of computing resources across a network. This allows users to access these resources on-demand, reducing the need for large upfront investments and ongoing maintenance costs.

For more insights on North America’s significant contribution along with the market share of rest of the regions and countries – Download a FREE Sample

Segmentation Overview

Service 1.1 SaaS1.2 IaaS1.3 PaaSType 2.1 SMEs2.2 Large enterpriseGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

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1.1 Fastest growing segment:

SaaS, or Software as a Service, is a cloud computing model that delivers software applications and associated data through a web browser over the internet. This model allows users to access various components and features of software programs for a subscription fee, eliminating the need for purchasing, configuring, and managing hardware and software. The increasing use of messaging applications, e-mails, and video calls on smartphones and tablets has led to a rise in SaaS adoption by enterprises. SaaS offers advantages such as easy access to applications, a pay-as-you-go model, mobility, and data access from anywhere. Microsoft Office 365 and Slack are examples of public SaaS solutions that offer enterprise applications like ERP, CRM, and HRM. Public SaaS vendors provide software programs and applications on a subscription-basis, along with IaaS and PaaS services for their smooth functioning. Key SaaS solutions include email, sales management, CRM, financial management, HRM, billing, and collaboration. The elasticity and scalability of public SaaS make it ideal for IT-enabled services and simplify access to advanced technologies like AI, big data, data analytics, and IoT. These factors are driving the growth of the SaaS segment and expanding the global public cloud services market.

Research Analysis

The Public Cloud Services market is experiencing rapid growth as more enterprises adopt utility-based sharing models for their IT needs. Cloud services, including Infrastructure as a Service (IaaS), Platform as a Service (PaaS), and Software as a Service (SaaS), are transforming the way businesses manage and utilize technology. Big data and machine learning are key drivers, enabling advanced analytics and automation. Security is a top priority, with cloud providers offering solutions to protect business-sensitive data. Cloud computing enables agile deployment and scalability, making it ideal for next-generation technologies like AI, ML, IoT, and connected devices. Digital transformation is accelerating across industries, from healthcare to automotive, with cloud services enabling the development of smart electric vehicles and advanced consumer experiences. Next-generation technologies like 5G and edge computing are also driving innovation. Data management and security are critical concerns, with cloud providers offering advanced solutions for data protection and compliance. The Internet of Things (IoT) is generating massive amounts of data, requiring advanced analytics and processing capabilities. Firewalls and other security solutions are essential to protect against cyber threats. Cloud infrastructure services are essential for high-level computing requirements, enabling enterprises to process large amounts of data and run complex workloads. Hybrid cloud solutions offer flexibility and cost savings, allowing businesses to maintain some workloads on-premises while leveraging the benefits of the cloud. Consumer experiences are being transformed by cloud services, with personalized recommendations and real-time interactions becoming the norm. Technology consumerization is driving demand for easy-to-use, self-service solutions. Overall, the Public Cloud Services market is poised for continued growth, enabling businesses to innovate and stay competitive in a rapidly changing technological landscape.

Market Overview

The Public Cloud Services Market is a dynamic and ever-evolving landscape shaped by the IT model’s shift towards utility-based sharing models and the increasing adoption of cloud computing. The Public Internet serves as the backbone, enabling enterprises to leverage big data, machine learning (ML), and artificial intelligence (AI) through cloud services. Agile deployment and security are key considerations, with data management and information storage essential for managing business-sensitive data. Emerging technologies, such as ML, AI, and the Internet of Things (IoT), are driving innovation in various sectors, including healthcare, where patients benefit from telemedicine, video-on-demand (VoD), and digital health records. The Fourth Industrial Revolution and workplace shifts towards work-from-home models have accelerated cloud adoption, with small and medium-sized businesses and large enterprises adopting Software-as-a-Service (SaaS) for digital transformation. Cloud infrastructure services, data centre solutions, and security solutions are crucial components, ensuring data security, digitalization, and next-generation technologies’ seamless integration. The market continues to evolve, with smart technologies, automation, and connected devices shaping the future of cloud services.

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Key Topics Covered:

 1 Executive Summary
 2 Market Landscape
 3 Market Sizing
 4 Historic Market Size
 5 Five Forces Analysis
 6 Market Segmentation
 7 Customer Landscape
 8 Geographic Landscape
 9 Drivers, Challenges, and Trends
10 Venodr Landscape
11 Vendor Analysis

11.1 AWS
11.2 Microsoft
11.3 Google
11.4 Salesforce
11.5 Alibaba Cloud
11.6 Oracle
11.7 IBM
11.8 SAP
11.9 Tencent
11.10 Workday
11.11 Fujitsu
11.12 VMWare
11.13 Rackspace
11.14 HPE
11.15 Adobe
11.16 NEC
11.17 Cisco
11.18 Dell Technologies
11.19 ServiceNow
11.20 OVH
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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iMarketKorea Signs Two MOUs with Vietnam’s Phu Tho Provincial People’s Committee and BIDV

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Participates in Korea-Vietnam Economic Delegation

Accelerates development of an industrial park in Phu Tho Province near Hanoi, while attracting advanced manufacturing companies and building a supply chain ecosystemPlans parallel development of an Inland Container Depot (ICD) to strengthen logistics competitivenessExpands discussions with Bank for Investment and Development of Vietnam (BIDV) on financial support measures and new business opportunities

HANOI, Vietnam and SEOUL, South Korea, April 27, 2026 /PRNewswire/ — iMarketKorea, a leading industrial materials distribution company led by CEO Kim Hak-jae, announced that it has signed two Memoranda of Understanding (MOUs) with the Phu Tho Provincial People’s Committee and Bank for Investment and Development of Vietnam during the MOU signing session at the Korea-Vietnam Business Forum, hosted by Korea’s Ministry of Trade, Industry and Energy and the Korea Chamber of Commerce and Industry. The company participated in the official Korea-Vietnam economic delegation.

As Vietnam’s investment environment continues to advance, cooperation in production infrastructure such as industrial parks has become increasingly important. Based on prior discussions with Phu Tho Province, iMarketKorea formalized this partnership through the latest agreements.

Located near Noi Bai International Airport, Phu Tho Province is emerging as a strategic logistics hub and an attractive production base for global companies. The province recorded 10.52% gross regional domestic product (GRDP) growth in 2025, ranking fourth among Vietnam’s provinces.

Through the agreement, iMarketKorea plans to develop a national industrial park in Phu Tho Province and actively attract global manufacturing companies. The company also aims to build a supply chain-driven industrial ecosystem by strengthening collaboration among related businesses centered around the industrial complex.

To enhance logistics competitiveness, iMarketKorea will also pursue the development of an Inland Container Depot (ICD) with bonded warehousing functions. An ICD is an inland logistics hub enabling customs clearance and cargo handling. When integrated with the industrial park, it is expected to improve import-export efficiency and strengthen the region’s attractiveness to manufacturers.

Kim Hak-jae, CEO of iMarketKorea, said, “This agreement establishes the foundation for integrated production and logistics infrastructure. Through cooperation with the Phu Tho provincial government and BIDV, we plan to establish a one-stop support system covering administration, finance, legal matters, and taxation. We will also create an environment where high-tech parts and materials companies can effectively utilize local incentives and gradually expand future cooperation.”

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/imarketkorea-signs-two-mous-with-vietnams-phu-tho-provincial-peoples-committee-and-bidv-302753801.html

SOURCE iMarketKorea

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Global Customers Are Taking a Closer Look at Focused Photonics Inc.

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HANGZHOU, China, April 24, 2026 /PRNewswire/ — For scientific instrument companies competing globally, differentiation increasingly depends on more than product specifications alone. Customers are looking beyond performance claims to assess whether a company can consistently translate technology into manufacturable products, proven applications, reliable delivery and long-term service support.

That shift was evident during Focused Photonics Inc.’s (FPI) Global Customer Experience Day 2026 in Hangzhou, where customers and partners from dozens of countries visited the company’s Qingshanhu Innovation Base, headquarters and live application sites. For many attendees, the event offered a closer look at how a China-headquartered scientific instrument company is building capabilities across R&D, manufacturing, systems integration and lifecycle support.

At Qingshanhu Innovation Base, visitors saw key stages of FPI’s operations firsthand, including engineering, precision manufacturing, system integration, testing and service readiness. For many international customers, these visits are less about viewing a production line and more about assessing execution: whether a supplier has the engineering discipline, manufacturing depth and support infrastructure required to deliver consistently in real operating environments.

This is becoming increasingly important across the industry. As customer expectations evolve, competition is moving beyond stand-alone instrument performance toward integrated solutions, automation, data integrity, compliance and lifecycle value. In industrial and environmental applications in particular, uptime, stability and workflow fit often matter as much as analytical capability.

At its global customer conference, FPI outlined how it is responding to that transition, highlighting continued investment across environmental monitoring, industrial process analysis, laboratory analysis and life science applications. The company is also expanding the role of digitalization, automation and AI to improve application readiness and solution delivery.

Application-focused exchanges during the event reinforced the same point. In discussions on environmental, industrial and laboratory scenarios, customers focused not only on performance metrics, but also on regulatory fit, workflow integration, long-term operation under complex conditions, and the ability of solutions to function reliably once deployed. These are increasingly central criteria in global purchasing decisions.

The clearest proof came from real-world settings. At the Hangzhou Ecological Environment Monitoring Center, visitors saw FPI’s automated water quality laboratory in operation, where sample handling, workflow continuity and data generation are integrated into day-to-day use. For customers, this offered a more concrete view of how a solution performs not just in demonstration, but in routine operation.

Taken together, the event underscored a broader industry reality: global competition in scientific instruments is increasingly defined not only by what a product can do, but by whether a company can manufacture it at scale, deploy it effectively, support it locally and sustain performance over time. That broader operational capability is becoming a decisive part of how international customers evaluate suppliers.

View original content:https://www.prnewswire.com/news-releases/global-customers-are-taking-a-closer-look-at-focused-photonics-inc-302753822.html

SOURCE Focused Photonics Inc.

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Straits Financial Services Pte Ltd Granted Overseas Intermediary Futures Broker Status by Shanghai Futures Exchange and Guangzhou Futures Exchange

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SINGAPORE, April 27, 2026 /PRNewswire/ — Straits Financial Services Pte Ltd (“SFSPL”), a member of Straits Financial Group, is pleased to announce that it has been granted overseas intermediary (OI) futures broker status by the Shanghai Futures Exchange (SHFE) and the Guangzhou Futures Exchange (GFEX).

This recognition marks an important milestone in expanding international access to China’s futures markets and further strengthens SFSPL’s ability to connect global investors with onshore opportunities.

As an overseas intermediary futures broker, SFSPL will be able to facilitate client access to selected products listed on SHFE and GFEX. The overseas intermediary model significantly lowers barriers to entry for international participants by removing the need for complex onshore structures and enabling more efficient cross-border access, while operating within China’s regulated market environment.

“As China’s futures market continues to open up, this recognition represents a meaningful milestone for both SFSPL and our clients,” said Roger Quek, Chief Executive Officer and Managing Director, Straits Financial Services Pte Ltd. “We are pleased to support international investors with more seamless access to China’s onshore derivatives market, while maintaining a strong focus on risk management, compliance, and execution efficiency.”

As China’s derivatives market continue to evolve, SFSPL is strongly positioned to support clients looking to deepen their involvement in this high-potential market.

SFSPL remains committed to delivering robust trading capabilities, seamless market access, and trusted expertise to help clients navigate global investment opportunities.

About Straits Financial Services Pte Ltd

At Straits Financial Services Pte Ltd, we distinguish ourselves by promoting key and innovative contracts to support the financial and commodity derivative markets as well as providing products and services to fulfill the needs of every trader.

With a strong presence in Asia and a deep understanding of the global markets, we provide value to our clients by enabling global access with a local perspective. Established in 2010, Straits Financial Services Pte Ltd is part of Straits Financial Group which is headquartered in Singapore.

Straits Financial Services Pte Ltd provides a fully-integrated service for our clients to access the financial and commodity derivative markets and we strive to build lasting relationships with our clients.

For more information, please visit our website at https://www.straitsfinancial.com.

This document is issued for information purposes only. This document is not intended and should not under any circumstances to be construed as an offer or solicitation to buy or sell, nor financial advice or recommendation in relation to any capital market product. All the information contained herein is based on publicly available information and has been obtained from sources that Straits Financial Services Pte Ltd believes to be reliable and correct at the time of publishing this document.

Straits Financial Services Pte Ltd will not be liable for any loss or damage of any kind (whether direct, indirect or consequential losses or other economic loss of any kind) suffered due to any omission, error, inaccuracy, incompleteness, or otherwise, any reliance on such information. Past performance or historical record of futures contracts, derivatives contracts, and commodities is not indicative of the future performance. The information in this document is subject to change without notice.

If after reading the foregoing content you have any doubts in relation thereto, please consult your own independent legal, financial and/or professional adviser.

View original content:https://www.prnewswire.com/apac/news-releases/straits-financial-services-pte-ltd-granted-overseas-intermediary-futures-broker-status-by-shanghai-futures-exchange-and-guangzhou-futures-exchange-302752994.html

SOURCE Straits Financial

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