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NEW YORK, Oct. 26, 2023 /PRNewswire/ -- The cloud computing market size is expected to grow by USD 429.6 billion from 2022 to 2027. The growth momentum of the market will accelerate at a CAGR of 17.32% during the forecast period. The increased use of containers will boost the adoption of the cloud, which will drive the cloud computing market growth. Containers and microservices are alternative solutions to virtual machines (VMs). Containers are lighter than VMs and can package applications and all OS dependencies in a single package. They provide a high level of visibility toward application performance. Moreover, container and microservice architectures allow rapid scaling. These factors will drive the market's growth during the forecast period.For more insights on the historic (2017 to 2021) and forecast market size (2023to 2027)Download our sample report!

Technavio has announced its latest market research report titled Global Cloud Computing Market

Key market challenges

Factors such as vendor lock-in and operational complexities will challenge market growth. Vendor lock-in occurs when a customer cannot transition easily to another vendor's product or service. This makes it difficult to switch to a public cloud service provider from a private cloud platform. Moreover, each vendor may support different languages, libraries, APIs, architecture, or OS. The process of switching can be time-consuming, labor-intensive, and expensive. It may even result in rebuilding or altering an application to fit the new platform. Thus, vendor lock-in can hinder the growth of the global private cloud services market during the forecast period.

Few companies mentioned with their offerings

Adobe Inc. - The company offers Creative Cloud service with apps, web services, and resources.

Alibaba Group Holding Ltd. -The company offers multi-model cloud-native databases and distributed cloud services.

Alphabet Inc. - The company offers a wide range of cloud computing services.

Amazon.com Inc. - The company offers a wide range of cloud computing services.

Cisco Systems Inc. -The company offers cloud-neutral solutions and full-stack observability with its cloud

To gain access to more vendor profiles with their key offerings available with Technavio, download a sample report.

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Market segmentation

The cloud computing market report is segmented by deployment (public cloud and private cloud), service (SaaS, IaaS, and PaaS), and geography (North America, APAC, Europe, South America, and Middle East and Africa).North Americawill be the leading region with 50% of the market's growth during the forecast period. The US and Canada are the key markets for cloud computing inNorth America.

For additional insights into the contribution of all the segments and regional opportunities, historic (2017 to 2021) and forecast market size (2023 to 2027) -Download our sample report

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What`s New for 2023?

Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession

Global competitiveness and key competitor positions

Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial

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Cloud Computing Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 17.32%

Market growth 2023-2027

USD 429.6 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

12.0

Regional analysis

North America, APAC, Europe, South America, and Middle East and Africa

Performing market contribution

North America at 50%

Key countries

US, China, UK, Germany,Canada, Mexico, Italy,Spain, Japan, Australia, and South Korea

Competitive landscape

Leading vendors, market positioning of vendors, competitive strategies, and industry risks

Key companies profiled

Adobe Inc., Alibaba Group Holding Ltd., Alphabet Inc., Amazon.com Inc., Cisco Systems Inc., Citrix Systems Inc., Dell Technologies Inc., Hewlett Packard Enterprise Co., Huawei Technologies Co. Ltd., International Business Machines Corp., NetApp Inc., Nutanix Inc., Oracle Corp., Rackspace Technology Inc., Red Hat Inc., Salesforce.com Inc., Tata Consultancy Services Ltd., Microsoft Corp., SAP SE, and VMware Inc.

Market dynamics

Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Table of contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Deployment

7 Market Segmentation by Service

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

About US

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide 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.

ContactTechnavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email:media@technavio.comWebsite:www.technavio.com/

Global Cloud Computing Market

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SOURCE Technavio

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Cloud computing market size to grow by USD 429.6 billion from 2022 to 2027, Increased use of containers to boost market growth - Technavio - Yahoo...