Cloud Computing Market to Hit USD 791.48 Billion by 2028; Rising Demand for Improved Virtual Access – GlobeNewswire

Pune, India, May 18, 2021 (GLOBE NEWSWIRE) -- 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: https://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.

To get to know more about the short-term and long-term impact of COVID-19 on this market,

Please Visit: https://www.fortunebusinessinsights.com/cloud-computing-market-102697

The Report Includes?

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: https://www.fortunebusinessinsights.com/enquiry/customization/cloud-computing-market-102697

Competitive Landscape

Advent of IoT to Create Numerous Innovation Opportunities for Market Players

The market leaders such as Oracle and SAP are directing their research and investment energies toward efficiently utilizing the opportunities generated by the Internet of Things (IoT) phenomenon. Most of the players in this market are focused of making their products and services smarter and more streamlined using IoT-based tools.

Industry Developments:

List of Key Players Profiled in the Global Market:

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

Table of Content:

TOC Continued..

Speak to Our Analyst- https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/cloud-computing-market-102697

Have a Look at Related Research Insights:

Core Banking Software Market Size, Share & COVID-19 Impact Analysis, By Deployment (SaaS/Hosted, Licensed), By Banking Type (Large Banks, Midsize Banks, Small Banks, Community Banks, and Credit Unions), By End-user (Retail Banking, Treasury, Corporate Banking, and Wealth Management) and Regional Forecast, 2021-2028

Network Security Market Size, Share & COVID-19 Impact Analysis, By Deployment (Cloud and On Premise), By Type (Firewalls, Antivirus and anti-malware software, VPN, Wireless security, Others, By Enterprise Size (Small & Medium Sized Enterprises and Large Enterprise), By Industry (BFSI, IT and Telecommunications, Retail, Healthcare, Government, Manufacturing, Travel and Transportation) and Regional Forecast, 2021-2028

Property Management Market Size, Share & COVID-19 Impact Analysis, By Component (Software, Services), By Deployment (Cloud, On-Premises), By Application (Residential, Commercial), By End-User (Property Managers, Housing Associations, Real Estate Agents, and Others) and Regional Forecast, 2021-2028

Cloud Storage Market Size, Share & COVID-19 Impact Analysis, By Component (Storage Model, and Services), By Deployment (Private, Public, and Hybrid), By Enterprise Size (SMEs, and Large Enterprises), By Vertical (BFSI, IT and Telecommunication, Government and Public Sector, Manufacturing, Healthcare and Life Sciences, Retail and Consumer Goods, Media and Entertainment, and Others) and Regional Forecast, 2021-2028

Latin America Fraud Detection and Prevention Market Size, Share & COVID-19 Impact Analysis, By Component (Solutions and Services), By Application Area (Insurance Claims, Money Laundering), By Deployment (Cloud and On-Premise), By Enterprise Size (Large Enterprises and SMEs), By Vertical (BFSI, IT and Telecom, Retail and Consumer Packaged Goods, Government, Construction and Real Estate, Energy and Utilities), and Geographical Forecast, 2021-2028

About Us:

Fortune Business Insights delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.

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 939123

APAC : +91 744 740 1245

Email: sales@fortunebusinessinsights.com

LinkedIn: https://www.linkedin.com/company/fortune-business-insights

Facebook: https://www.facebook.com/FortuneBusinessInsightsPvtLtd