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20 Oct, 2022, 13:45 BST
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SAN FRANCISCO, Oct. 20, 2022 /PRNewswire/ — The global cloud computing market is expected to reach USD 1,554.94 billion by 2030, registering a CAGR of 15.7% from 2022 to 2030, according to a new report by Grand View Research, Inc. Cloud systems widely support streamlining inter-organizational communication and offer a convenient alternative to manage complex corporate processes. Numerous organizations globally have switched to cloud-based computing owing to its exceptional benefits including flexibility, scalability, cost savings, efficient data storage, data security, and team collaboration capabilities.
Key Industry Insights & Findings from the report:
Read 130-page market research report, “Cloud Computing Market Size, Share & Trends Analysis Report By Service (IaaS, PaaS, SaaS), By Deployment (Public, Private, Hybrid), By Enterprise Size, By End Use (BFSI, IT & Telecom, Retail & Consumer Goods), By Region, And Segment Forecasts, 2022 – 2030“, published by Grand View Research.
Cloud Computing Market Growth & Trends
The organizations are progressively deploying cloud computing services as these services offer strategic insights into investments, go-to-market approaches, partnering tactics, alliances & acquisition strategies, and excellent operational practices. Furthermore, these services aid in measuring, correlating, and analyzing business activities and ensuring that an organization’s operations address consumer demands. In order to gain crucial business insights for decision-making, several firms incrementally invest in advanced technologies including IoT, artificial intelligence, Big Data, and 5G technologies. Big Data is gaining immense popularity owing to the advantages they offer, including business intelligence, data integration, and data segmentation, among others. The surge in the need for advanced analytics solutions in cloud computing is creating growth opportunities for the market.
The COVID-19 pandemic drastically impacted businesses globally with constrained innovation and declining profitability, cash flow, and financial reserves. Software development and IT industries also faced massive challenges owing to the unprecedented outbreak. Nonetheless, cloud computing solutions witnessed crucial growth opportunities as well. The services supported teams in learning to collaborate and helped businesses realize that they can effectively function virtually. In order to maintain the well-being of employees and optimize operational efficiency, a plethora of businesses across numerous verticals implemented the work-from-home model, which boosts the demand for Software-as-a-Service (SaaS)-based solutions.
The key market vendors in the market are focusing on developing innovative cloud solutions and services and upgrading the capabilities of the existing offerings to further strengthen their foothold in the global market. Moreover, vendors also engage in various growth strategies including mergers and acquisitions to enhance their market position and cloud capabilities. For instance, in October 2020, SAP SE announced its plan to acquire Emarsys, an omnichannel provider of customer engagement platforms. The acquisition enabled SAP SE to add the customer engagement platform of Emarsys into SAP S/4HANA and Experience Management technology. Emarsys technology supports SAP Customer Experience solutions in linking the commerce signals with the back office and activating the preferred channel of the customer. This comes with a relevant and constantly personalized message, thereby supporting customers to select their engagements.
Cloud Computing Market Segmentation
Grand View Research has segmented the global cloud computing market based on service, deployment, enterprise size, end-use, and region
Cloud Computing Market – Service Outlook (Revenue, USD Billion, 2017 – 2030)
Cloud Computing Market – Deployment Outlook (Revenue, USD Billion, 2017 – 2030)
Cloud Computing Market – Enterprise Size Outlook (Revenue, USD Billion, 2017 – 2030)
Cloud Computing Market – End-use Outlook (Revenue, USD Billion, 2017 – 2030)
Cloud Computing Market – Regional Outlook (Revenue, USD Billion, 2017 – 2030)
List of Key Players in the Cloud Computing Market
Check out more related studies published by Grand View Research:
Browse through Grand View Research’s Next Generation Technologies Industry Research Reports.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Contact:
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Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Web: https://www.grandviewresearch.com
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SOURCE Grand View Research, Inc
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