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.
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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.
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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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