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Cloud computing enables businesses to store, manage, and process critical data by utilizing remote servers hosted on the internet. The increasing volume of data generation in websites and mobile apps, the growing emphasis on delivering customer-centric applications to drive customer satisfaction, and the growing need to control and reduce Capital Expenditure (CAPEX) and Operational Expenditure (OPEX) are just a few of the factors driving the growth of emerging technologies. Emerging technologies such as big data, artificial intelligence (AI), and machine learning (ML) are gaining traction, propelling the global cloud computing market forward. The growth of cloud computing services is being driven by major factors such as data security, faster Disaster Recovery (DR), and meeting compliance requirements.

Westford, USA, May 03, 2022 (GLOBE NEWSWIRE) -- The need to reduce risks, achieve scalability and flexibility in moving and storing data, reduce storage and infrastructure complexities, and increase business efficiency drives the cloud computing market's growth.

Enterprises are concerned about the upfront and ongoing costs of hosting data on-premises. Furthermore, electricity costs, employee expenses, and downtime issues are a few additional concerns for businesses. The current competitive environment and global economic conditions have hastened the adoption of cost-effective measures to restructure business models. The increasing shift of enterprises toward digital transformation and the acceleration of customer experience are a few more factors driving the adoption of cloud computing services, ultimately lowering enterprise costs. Furthermore, the cloud provides the benefit of a pay-as-you-go model, which allows enterprises to pay for cloud services based on their usage, resulting in lower costs. Because of benefits such as on-demand availability, start-ups and SMEs are increasingly turning to cloud services.

Read market research report, " Global Cloud Computing Market Segmented by Deployment Type (Private Cloud, Public Cloud, and Hybrid Cloud), Service Model (Infrastructure as a Service (IaaS), Platform as a Service (PaaS), and Software as a Service (SaaS)), And Industry Vertical (Government, Military & Defense, Telecom & IT, Healthcare, Retail, and Others) & By Region - Forecast and Analysis 2021-2027 by SkyQuest

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Enterprises with existing infrastructure are moving toward cloud computing services and are willing to take a hybrid approach to reap the benefits of both on-premises and cloud services. SMEs are largely adopting cloud computing services due to significant benefits such as no initial infrastructure setup costs and on-demand computing service availability. These factors are helping to drive the adoption of hybrid cloud services in businesses. The hybrid cloud provides advantages such as improved workload management, increased security and compliance, and effective integration within DevOps teams. It also provides the flexibility to switch from on-premises to cloud or between clouds, as well as the scalability required to gain a competitive advantage over other companies. Increased user and resource mobility, ongoing cloud application migration, and the emergence of more sophisticated threats are driving organizations to adopt a hybrid cloud. Healthcare, BFSI, and government that prioritizes compliance, security, and customer experience use the hybrid deployment model. Furthermore, as cloud-based applications such as Dropbox, Facebook, and Gmail, among others, become more flexible and robust, the processing cycle in a real-time scenario must be faster. As a result, enterprises are shifting to Omni-cloud solutions to take advantage of numerous benefits such as ease of data use, effective decision making, secure data availability, and real-time scalability.

Cloud computing services assist businesses in increasing business efficiency and lowering costs. Furthermore, these services provide numerous benefits, such as flexibility, scalability, and agility. Despite the fact that the cloud provides numerous benefits and security measures, data stored in the cloud is still vulnerable to cyberattacks. The number of cyberattacks is rapidly increasing as the volume of data grows and enterprise initiatives toward digital transformation expand. Cyberattacks such as Spectre and Meltdown, as well as cloud malware injection attacks, account or service hijacking, and man-in-the-cloud attacks, expose enterprise data to vulnerabilities. These threats have the potential to cause business losses and shutdowns.

The top players in the Cloud Computing market are Google LLC, Amazon Web Services, Inc., Microsoft Inc., Alibaba Cloud International, IBM Corp., Yahoo, Inc., and Salesforce Inc. etc. New players are also entering the segment thus increasing its market penetration and therefore demand growing exponentially.

The report published by SkyQuest Technology Consulting provides in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions.

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SkyQuest has segmented the Global Cloud Computing Market based on Deployment Type, Service Model, Industry Vertical and Region:

Cloud Computing Market By Deployment Type (Revenue, USD Million, 2020 - 2027)

Private Cloud

Public Cloud

Hybrid Cloud

Cloud Computing Market By Service Model (Revenue, USD Million, 2020 - 2027)

Infrastructure as a Service (IaaS)

Platform as a Service (PaaS)

Software as a Service (SaaS)

Cloud Computing Market Industry Vertical (Revenue, USD Million, 2020 - 2027)

Government

Military & Defense

Telecom & IT

Healthcare

Retail

Others

Cloud Computing Market Regional Outlook (Revenue, USD Million, 2020 - 2027)

North America

Europe

Germany

France

UK

Italy

Spain

Rest of Europe

Asia Pacific

China

India

Japan

Rest of Asia Pacific

Central & South America

Middle East & Africa

GCC Countries

South Africa

Rest of MEA

List of Key Players of Cloud Computing Market

Accenture PLC (Ireland)

Adobe, Inc. (US)

Alibaba Cloud International (China)

Amazon Web Services, Inc. (US)

Apple, Inc. (US)

AT&T, Inc. (US)

Cisco Systems, Inc. (US)

Citrix Systems, Inc. (US)

Dell, Inc. (US)

Google LLC (US)

Hewlett Packard Enterprise Development LP (US)

IBM Corp. (US)

Intel Corp. (US)

Microsoft Corp. (US)

NetSuite, Inc. (US)

Oracle Corp. (US)

Salesforce.com, Inc. (US)

SAP SE (Germany)

Verizon Enterprise Solutions (US)

Yahoo, Inc. (US)

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The Global Cloud Computing Market is expected to reach a value of USD 750,100 Million by 2027, at a CAGR of 30.10% over the forecast period (2021 -...