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DUBLIN--(BUSINESS WIRE)--The "Global Cloud Computing Market, By Deployment Type, By Service Model, Platform as a Service, Software as a Service, By Industry Vertical & By Region - Forecast and Analysis 2022 - 2028" report has been added to ResearchAndMarkets.com's offering.

The Global Cloud Computing Market was valued at USD 442.89 Billion in 2021, and it is expected to reach a value of USD 1369.50 Billion by 2028, at a CAGR of more than 17.50% over the forecast period (2022 - 2028).

Cloud computing is the delivery of hosted services over the internet, including software, servers, storage, analytics, intelligence, and networking. Software-as-a-Service (SaaS), Infrastructure-as-a-Service (IaaS), and Platform-as-a-Service (PaaS) are three types of cloud computing services (PaaS).

The expanding usage of cloud-based services and the growing number of small and medium businesses around the world are the important drivers driving the market growth. Enterprises all over the world are embracing cloud-based platforms as a cost-effective way to store and manage data. Commercial data demands a lot of storage space. With the growing volume of data generated, many businesses have moved their data to cloud storage, using services like Amazon Web Services, Microsoft Azure, and Google Cloud Platform.

The growing need to regulate and reduce Capital Expenditure (CAPEX) and Operational Expenditure (OPEX), as well as the increasing volume of data generated in websites and mobile apps, are a few drivers driving the growth of emerging technologies. Emerging technologies like big data, artificial intelligence (AI), and machine learning (ML) are gaining traction, resulting in the global cloud computing industry growth. The cloud computing market is also driven by major factors such as data security, Faster Disaster Recovery (DR), and meeting compliance standards.

Aspects covered in this report

The global cloud computing market is segmented on the basis of deployment type, service model, and industry vertical. Based on the deployment type, the market is segmented as: private cloud, public cloud, and hybrid cloud. Based on the service model, the market is segmented as: Infrastructure as a Service (IaaS), Platform as a Service (PaaS), and Software as a Service (SaaS). Based on industry vertical, the market is segmented as: Government, Military & Defense, Telecom & IT, Healthcare, Retail, and Others. Based on region it is categorized into: North America, Europe, Asia-Pacific, Latin America, and MEA.

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Companies Mentioned

For more information about this report visit https://www.researchandmarkets.com/r/m9wewu

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Global Cloud Computing Market Report to 2028 - Featuring Accenture, Adobe, IBM and Intel Among Others - ResearchAndMarkets.com - Business Wire