Public Cloud Service Market 2030 by Service (Infrastructure as a service, Platform as a service, Software as a service), Deployment (Public, Private, Hybrid), Application (BFSI, Healthcare, Media and entertainment, Retail and consumer goods, Automotive, IT & Telecom, Manufacturing, Government, Others) and Region - Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional Footprints by MarketDigits

Industry : Information Technology | Pages : 185 Pages | Published On : Mar 2024

         
     

Public Cloud Service market was valued USD 400 Billion in 2022 and projected to reach USD 857.4 Billion by 2030, growing at a CAGR of 10% during the forecast period of 2023-2030.

Public Cloud Service Market Size


Graph
             2019                         2023 to 2030      

ReportDetails
Market Size ValueUSD 400 Billion in 2022
Market Size ValueUSD 857.4 Billion by 2030
CAGR10%
Forecast Period2023 to 2030
Historic Data2019
Segments CoveredService, Deployment, Application,End User and Region
Geographics CoveredNorth America, Europe, Asia Pacific, and RoW

Major Vendors In The Global Public Cloud Service Market: Alibaba group holding limited, Amazon web services,Inc, Digital ocean LLC, Google LLC, IBM corporation, Kamatera, microsoft corporation, Nuanix, Oracle Corporation, OVH SAS, Rackspace technology, Salesforce,Inc, SAP SE, Tencent cloud, Vmware and Others.

Market Overview

The primary goal of Private Cloud Hosting platforms is to enhance the optimization of IT resources throughout the corporate provisioning lifecycle. This includes delivery, monitoring, and control of crucial business applications. Key features involve the flexibility of storage, processing, and networking supply, on-demand access to systems, user or workgroup self-provisioning, and centralized management through a unified dashboard for system administrators, workgroup managers, and end-users. The decision to adopt cloud computing is becoming increasingly common for organizations as the technology advances. Public cloud architecture revolves around sharing and accessing data within in-house IT premises and third-party entities. While this cloud form may raise security concerns, it is as efficient as private cloud architecture. Factors such as a scaled-up environment and continuous bandwidth uptime are also addressed in this cloud form.

The cloud computing environment offers significant flexibility and accessibility to computing resources at a reduced cost. This emerging technology marks the onset of a new era for e-services across various domains. In this paper, we delve into the realm of cloud computing services and applications. We provide examples of services offered by prominent Cloud Service Providers (CSPs) like Google, Microsoft, Amazon, HP, and Salesforce. Additionally, we showcase innovative applications of cloud computing in e-learning, Enterprise Resource Planning (ERP), and e-governance. Through our exploration, we aim to assist individuals and organizations in comprehending how cloud computing can deliver tailored, dependable, and cost-effective services across a diverse range of applications.

Increasing growth in the adoption of public cloud services

One of the primary drivers of public cloud services are witnessing a surge in adoption as an increasing number of businesses, ranging from startups to large enterprises, recognize the benefits of leveraging cloud infrastructure and services. Various industries, including finance, healthcare, education, and manufacturing, are embracing public cloud services to streamline operations, enhance flexibility, and gain a competitive edge in the digital landscape. The pay-as-you-go model of public cloud services allows organizations to optimize costs by paying only for the resources they use. This scalability makes cloud services economically attractive for businesses of all sizes. Organizations are incorporating public cloud solutions as a core component of their digital transformation strategies. Cloud services facilitate agility, innovation, and the rapid deployment of new technologies. The global shift towards remote work has accelerated the adoption of cloud services. Cloud platforms enable seamless collaboration, data access, and application use, supporting the evolving needs of remote work environments.

Market Dynamics

Drivers:

  • Increasing growth in the adoption of public cloud services
  • Increasing utilization of cloud computing solutions in developing nations
  • Cost effective and scalable
  • Increasing Integration of big data, AI and ML with cloud

Opportunities:

  • Technological Advancements
  • Improved effectiveness for application in public cloud
  • Increasing importance of data security
  • Increasingly embracing multi-cloud strategies

Increasing importance of data security

Advancements in services processing play an essential role in propelling the growth of the global Pubic Cloud Service Market. Organizations are increasingly aware of the sensitivity of the data they store in the cloud, including personal and proprietary information. This awareness has led to a heightened focus on protecting data privacy. Stringent data protection regulations, such as GDPR (General Data Protection Regulation) and others, mandate strict compliance with data security standards. Organizations using public cloud services must ensure adherence to these regulations to avoid legal consequences. Public cloud service providers implement robust security measures, including encryption, access controls, and regular security audits. Organizations choose providers with a strong security posture to enhance the protection of their data. Implementing effective IAM policies is crucial for controlling access to cloud resources. Organizations are increasingly investing in IAM solutions to manage user identities, permissions, and authentication securely. The use of encryption, both in transit and at rest, is a fundamental aspect of data security in the cloud. Organizations leverage encryption technologies to safeguard data from unauthorized access, both within and outside the cloud environment.

North America dominates the market for Public cloud service.

North America stands out as the dominating region in the global Public Cloud Service market, with the United States leading in consumption and market share. The region's dominance can be attributed to the high prevalence supportive government initiatives toward AI and IoT-based services. The U.S. market particularly benefits growing number of SMEs.

Asia-Pacific, and specifically India, is emerging as a key player with substantial growth potential in the Public Cloud Service market. Growing rate of Iaas, Paas and Saas will grow more then double. India's market is driven by a rising urban population, increasing disposable incomes, and a shift towards Westernized habits. The convenience factor aligns well with the fast-paced urban life in countries like India, making public cloud service increasingly popular. Additionally, government initiatives promoting the processing sector and improvements in distribution channels contribute to the market's growth.

Another noteworthy region is the Middle East and Africa, where the demand for convenient services solutions is on the rise due to changing lifestyles and an expanding working-class population. South Africa, in particular, showcases promise as a market with high growth potential, driven by urbanization and a growing awareness of convenient services options.

The Hybrid cloud Segments is anticipated to hold the Largest Market Share during the Forecast Period

In the global Public Cloud Service market, Hybrid clouds offer the flexibility to scale computing resources up or down based on demand. Organizations can leverage public cloud resources during peak periods while maintaining critical workloads on-premises or in a private cloud. Hybrid cloud solutions allow organizations to keep sensitive data on-premises or in a private cloud, addressing security and compliance concerns. Less sensitive workloads can be run in the public cloud for cost efficiency. Hybrid cloud models provide cost optimization by allowing organizations to use public cloud resources for non-sensitive workloads, taking advantage of the pay-as-you-go pricing model, while retaining control over critical data and applications. Organizations can implement hybrid cloud solutions for robust business continuity and disaster recovery strategies. Critical applications can run on-premises or in a private cloud, while redundant copies and backup data can be stored in the public cloud. Hybrid clouds enable the seamless movement of applications and data between on-premises and cloud environments. This portability allows organizations to choose the most suitable environment for each workload.

Segmentations Analysis of Public Cloud Service Market: -

  • By Service
    • Infrastructure as a service
    • Platform as a service
    • Software as a service
  • By Deployment
    • Public
    • Private
    • Hybrid
  • By Application
    • BFSI
    • Healthcare
    • Media and entertainment
    • Retail and consumer goods
    • Automotive
    • IT & Telecom
    • Manufacturing
    • Government
    • Others
  • By Region
    • North America
      • US
      • Canada
    • Latin America
      • Brazil
      • Mexico
      • Argentina
      • Colombia
      • Chile
      • Peru
      • Rest of Latin America
    • Europe
      • UK
      • Germany
      • France
      • Italy
      • Spain
      • Russia
      • BENELUX
      • CIS & Russia
      • Nordics
      • Austria
      • Poland
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • South Korea
      • Thailand
      • Indonesia
      • Malaysia
      • Vietnam
      • Australia & New Zealand
      • Rest of Asia Pacific
    • Middle East & Africa
      • Saudi Arabia
      • UAE
      • South Africa
      • Nigeria
      • Egypt
      • Israel
      • Turkey
      • Rest of Middle East & Africa

Recent Developments

  • In June 2021, AWS and Safesforce had partnership for developer and launched Intelligent applications.

Public Cloud Service Market Report Gives Answers to Following Key Questions:

  • What will be the Public Cloud Service Market’s Trends & growth rate? What analysis has been done of the prices, sales, and volume of the top producers of Public Cloud Service Market?
  • What are the main forces behind the worldwide Public Cloud Service Market? Which companies dominate the Public Cloud Service Market?
  • Which companies dominate the Public Cloud Service Market? Which business possibilities, dangers, and tactics did they embrace in the market?
  • What are the global Public Cloud Service industry's suppliers' opportunities and dangers in Public Cloud Service Market?
  • What is the Public Cloud Service industry's regional sales, income, and pricing analysis? In the Public Cloud Service Market, who are the distributors, traders, and resellers?
  • What are the main geographic areas for various trades that are anticipated to have astounding expansion over the Public Cloud Service Market?
  • What are the main geographical areas for various industries that are anticipated to observe an astounding expansion in Public Cloud Service Market?
  • What are the dominant revenue-generating regions for Public Cloud Service Market, as well as regional growth trends?
  • By the end of the forecast period, what will the market size and growth rate be?
  • What are the main Public Cloud Service Market trends that are influencing the market's expansion?
  • Which key product categories dominate the Public Cloud Service Market? What are the Public Cloud Service Market’s main applications?
  • In the coming years, which Public Cloud Service Market technology will dominate the market?

TOC

Table and Figures

Methodology:

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Covered Key Topics

Growth Opportunities

Market Growth Drivers

Leading Market Players

Company Market Share

Market Size and Growth Rate

Market Trend and Technological

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