LONDON--(BUSINESS WIRE)--The global cloud computing market size is poised to grow by USD 190.32 billion during 2019-2023, according to a new report by Technavio, progressing at a CAGR of over 16% during the forecast period. However, the growth momentum is expected to decelerate over the forecast period.
Read the 154-page research report with TOC on "Cloud Computing Market Analysis Report by service (SaaS, IaaS, and PaaS) and geography (North America, Europe, APAC, South America, and MEA) 2019 - 2023" at:
The market is driven by the increase in adoption of cloud computing to facilitate cost savings. Also, according to this cloud computing market analysis, rising use of private cloud solutions for data backup and recovery is anticipated to further boost the growth of the market during the forecast period.
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Enterprises across the globe are increasingly focusing on minimizing their overall capital expenditure by deploying customized cloud services as per their business needs. Hybrid cloud deployments allow organizations to set up infrastructure on a private cloud while utilizing public cloud resources when required. Hybrid cloud solutions also allow portability of the applications between different clouds. Furthermore, SMEs and large-scale organizations are increasingly adopting cloud solutions as they provide security, reliability, and result in optimum utilization of resources. Thus, owing to the cost-saving benefits offered, the demand for cloud computing is expected to rise in the forthcoming years.
Given the vast access to Internet, organizations have been facing security and compliance concerns including data theft and critical information leaks. To mitigate these challenges, service providers are offering disaster recovery and data backup options to enable organizations access data available in cloud storage. Furthermore, organizations have also started using private clouds as the private cloud firewall keeps data secure. In addition, vendors have started to offer data backup and recovery solutions to attract customers and help them store data efficiently and securely. The launch of on-premises and multi-cloud environment solutions will further drive the market growth during the forecast period.
To find out more about Cloud Computing Market Research 2019-2023, https://www.technavio.com/talk-to-us?report=IRTNTR32028
The report includes detailed profiles of the leading companies & prominent vendors of the market:
- Adobe Inc.
- Alibaba Cloud
- Amazon Web Services Inc.
- Google LLC
- Hewlett Packard Enterprise Development LP
- IBM Corp.
- Microsoft Corp.
- Oracle Corp.
- Salesforce.com Inc.
- SAP SE
Market Segmentation by Category and Service Types:
The cloud computing market can be broadly categorized into the following:
Key Regions for the Cloud computing:
Featuring a breakdown of region-wise market shares until 2019.
- North America
- South America
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Related Reports on Information Technology Market are:
Public Cloud Services Market – Global Public Cloud Services Market by service (software as a service (SaaS), infrastructure as a service (IaaS), and platform as a service (PaaS)) and geography (APAC, Europe, MEA, North America, and South America).
Hybrid Cloud Market – Global Hybrid Cloud Market by end-user (BFSI, retail, healthcare, telecom, and others) and geography (APAC, Europe, MEA, North America, and South America)
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides 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 10,000 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.
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