Wed. Oct 27th, 2021

The global cloud computing market size is projected to reach USD 791.48 billion by 2028, exhibiting a CAGR of 17.9% during the forecast period. Rising preference for omni-cloud systems will prove highly beneficial for the growth of this market, states Fortune Business Insights™ in its report, titled “Cloud Computing Market Size, Share & COVID-19 Impact Analysis, 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)), By Industry (Banking, Financial Services, and Insurance (BFSI), IT and Telecommunications, Government, Consumer Goods, and Retail, Healthcare, Manufacturing, Others), and Regional Forecast, 2021-2028”. According to this market research report, the value of the market stood at USD 219.00 billion in 2020.

Request to Sample PDF Brochure: www.fortunebusinessinsights.com/enquiry/request-sample-pdf/cloud-computing-market-102697

Omni-cloud computing is a cloud solution that allows multiple cloud services to smoothly integrate and streamline their data on a single platform. The omni-cloud system is being increasingly preferred over the multi-cloud system owing to its multiple advantages and leading the cloud computing market trends. For example, an omni-cloud tool makes it possible to access real-time information from any location. In a departmental store, for instance, whenever there is an inventory shortfall, the cloud will send notification to the authorities, who will then take the necessary action. Similarly, storage of data on a unified platform also enables efficient analysis, enhances productivity, and elevates the quality of services. These, along with a few other benefits, are widening the applicability of omni-cloud computing across a variety of industries.

COVID-19 Impact:

Acceptance of Cloud–based Solutions to Favor Market During COVID-19 Pandemic

The acceptance of work from culture across public and private sectors has resulted in high demand for SaaS-based collaboration solutions. This has created opportunities for cloud companies to expand their customer base by introducing innovative solutions. For instance, in May 2020, Microsoft Corporation introduced “Hospital Emergency Response”, a cloud-based solution for the healthcare sector. The solution is enabled by Azure platform. The Centres for Disease Control and Prevention (CDC) and other healthcare institutions are permitted to control the solution to develop COVID-19 calculation tools and reduce the work-stress on front-line workforces.

The Report Includes?

  • Detailed research into the factors driving the market growth;
  • In-depth study of the roadblocks facing the market;
  • Comprehensive analysis of the segments of the market; and
  • Thorough assessment of the competitive developments and regional landscape of the market.

Market Restraint:

Potential Risk of Cyber Attacks to Negatively Influence Adoption of Cloud Systems

Today, majority of organizations and many government departments and agencies have shifted their databases onto the cloud to improve efficiency and productivity of resources as well as bring down costs. Unfortunately, this move has exposed sensitive information to hackers, who have frequently launched cyber-attacks to retrieve and misuse data. For instance, the US-based Center for Strategic & International Studies (CSIS) revealed that in April 2020 hackers from Iran attempted to breach personal files of World Health Organization (WHO) staffers while the world was reeling under the coronavirus pandemic. In February 2020, two Chinese hackers were persecuted by the US Department of Justice for performing cryptocurrency laundering activities for North Korean nationals. Such attacks are prompted by the availability of delicate data on cloud platforms and the constant threat of privacy infringement may hinder the cloud computing market growth in the upcoming years.

Regional Insights:

Strong Presence of Tech Bigwigs to Augment the Market in North America

North America is home to some of the biggest technology companies such as Google, Microsoft, and IBM and this factor has enabled the region to boast a market size of USD 78.28 Billion in 2020. Moreover, the regulatory and research environment in the region is extremely favorable for development and adoption of advanced cloud technologies based on Artificial Intelligence (AI) and Machine Learning (ML). As a result, North America is slated to dominate the cloud computing market share during the forecast period. Increasing penetration of the internet and rising usage of smartphones will aid Asia-Pacific register a high CAGR, while rapid deployment of 5G will favor market growth in Latin America and Middle East & Africa.

Ask for Customization: www.fortunebusinessinsights.com/enquiry/customization/cloud-computing-market-102697

List of Key Players Profiled in the Global Market:

  • Amazon Web Services (AWS) (Washington, United States)
  • Oracle Corporation (California, United States)
  • IBM Corporation (New York, United States)
  • Alibaba Group Holding 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)
  • com, Inc. (California, United States)
  • HCL Technologies Limited (Noida, India)
  • Hewlett-Packard Company (HPE) (California, United States)
  • 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)

Quick Buy – Cloud Computing Market: www.fortunebusinessinsights.com/checkout-page/102697

Other Exclusive Reports:

Intelligent App Market 2021 Major Companies Profile, Competitive Landscape, Key Regions and Investments Forecast

Video Live Streaming Solutions Market 2021 Major Companies Profile, Competitive Landscape, Key Regions and Investments Forecast

Unified Communication Market 2021 Major Companies Profile, Competitive Landscape, Key Regions and Investments Forecast

Intelligent App Market 2021 Major Companies Profile, Competitive Landscape, Key Regions and Investments Forecast

Video Live Streaming Solutions Market 2021 Major Companies Profile, Competitive Landscape, Key Regions and Investments Forecast

Unified Communication Market 2021 Major Companies Profile, Competitive Landscape, Key Regions and Investments Forecast

About Us:

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

At Fortune Business Insights™ we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

Contact Us:
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune – 411045, Maharashtra, India.
Phone:
US :+1 424 253 0390
UK : +44 2071 939123ac
APAC : +91 744 740 1245
Email: [email protected]

By umang.s

Leave a Reply

Your email address will not be published. Required fields are marked *