Cloud Market

Key Drivers

Artificial Intelligence (AI), Machine Learning (ML), and Digital Transformation

Deployment Modes

Public Cloud, Private Cloud, Hybrid Cloud

Core Service Models

Infrastructure as a Service (IaaS), Platform as a Service (PaaS), Software as a Service (SaaS)

Projected Market Value

$1902.66 billion by 2030

Market Share Concentration

Top three providers (AWS, Azure, GCP) hold 63% of the market

Compound Annual Growth Rate (CAGR)

18.7%

2024-04-09

2030-12-31

The Cloud Storage Market is currently characterized by intense competition and rapid innovation, driven by the increasing demand for scalable and secure data storage solutions. Major players such as Amazon Web Services (US), Microsoft Azure (US), and Google Cloud (US) dominate the landscape, each employing distinct strategies to enhance their market positioning. Amazon Web Services (US) focuses on continuous innovation and expanding its service offerings, while Microsoft Azure (US) emphasizes [...] In the Cloud Storage Market, the component segment is primarily divided into Solutions and Services. Solutions occupy a significant portion of the market, being the largest contributor owing to the comprehensive and efficient offerings that cater to a wide range of storage needs. Various cloud solutions, including storage architectures and infrastructures, are essential for businesses, thus making this segment a dominant one. Conversely, the Services aspect, encompassing migration assistance, [...] The Cloud Storage Market is experiencing robust growth driven by technological advancements and evolving consumer needs.

Cloud computing includes various service models like Infrastructure as a Service (IaaS), Platform as a Service (PaaS), and Software as a Service (SaaS). This market is experiencing rapid growth due to factors such as digital transformation, the widespread adoption of the internet and mobile devices, and the use of big data. Cloud computing offers flexible resources, faster innovation, and enhanced productivity, making it a crucial technology for businesses across different industries. [...] The global Cloud Computing Market is expected to reach USD 1902.66 billion by 2030, growing at a compound annual growth rate (CAGR) of 18.7%. This growth is driven by the increasing adoption of advanced technologies like artificial intelligence (AI) and machine learning (ML), especially in the telecom and IT sectors. These technologies are significantly boosting the expansion of the cloud computing industry worldwide. ## Product offers [...] The cloud computing market refers to the delivery of computing services over the Internet, enabling users to access IT resources such as computing power, storage, and databases on-demand with pay-as-you-go pricing. It eliminates the need for physical data centers and servers, allowing organizations to access technology services as needed from a cloud provider.

the largest cloud market, with its scale far surpassing the whole APAC region. The US market grew by 28% in Q3. In Europe the largest cloud markets are the UK and Germany, but the big markets with the highest growth rates were Ireland, Spain and Italy. [...] Cloud Market Share Trends - Big Three Together Hold 63% while Oracle and the Neoclouds Inch Higher | Synergy Research Group [...] were $106.9 billion, with trailing twelve-month revenues reaching $390 billion. Public IaaS and PaaS services account for the bulk of the market, and together they grew by 30% in Q3. Geographically, the cloud market continues to grow strongly in all regions of the world. When measured in local currencies, the major countries with the strongest growth included India, Australia, Indonesia, Ireland, Mexico and South Africa, all growing at rates above the worldwide average. The US remains by far

The cloud computing market ecosystem comprises a diverse range of stakeholders. The ecosystem includes network connectivity & hardware providers, infrastructure service providers, platform service providers, software application service providers, cloud service brokers, and consulting firms & system integrators. These entities collaborate to develop, deliver, and utilize cloud services, driving innovation and growth in the cloud computing market. [...] The Cloud Computing Market is dominated by a few major players that have a wide regional presence. The major players in the Cloud Computing Market are Microsoft Google AWS IBM Oracle Salesforce Tencent Cloud SAP Alibaba Cloud Adobe Workday Fujitsu Broadcom Rackspace Technology DXC Technology NEC Corporation Joyent Digital Ocean OVHcloud Navisite Infor Sage Intuit Cisco Huawei NTT Data Corporation ### Scope of the Report