Research Nester has released a report titled “Public Cloud Market – Global Demand Analysis & Opportunity Outlook 2023”which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter’s five force model.
In the 21st century, where competition in the market is increasingly massively, businesses worldwide are increasingly focusing on technologies that can help them lower their operational costs and also help them gain greater work effectiveness. Public cloud platforms help businesses to operate their work processes on a cloud infrastructure instead of deploying equipment on-premises. As such, adopting to public cloud platforms, businesses gain profits as the cost of equipment is saved and that there are no worries for timely maintenance of the infrastructure. Moreover, public cloud platforms also can be accessed from anywhere and also provide analytical data, which can be used by businesses to enhance their overall work performance, helping them gain added competitive advantage. Additionally, with the advent in IT technologies and development of technologies, such as internet of things (IoT), machine learning, artificial intelligence and others, help businesses to advance in their perspective field massively, which are some of the factors anticipated to drive the growth of the global public cloud market.
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The global public cloud market is anticipated to gain a CAGR of around 23% during the forecast period, i.e. 2017-2023 and reach a value of around USD 1100 billion by the end of 2023 from around USD 270 billion in the year 2016. The market is thriving on account of rising adoption of internet of things (IoT), growing advancements in the IT industry along with the large number of benefits associated with the public cloud platforms. The global public cloud market is segmented by cloud computing type into high performance computing, cloud billing, communication platform, infrastructure and others. Among these segments, infrastructure segment is anticipated to hold the largest market share of around 32% in the year 2023 on account of the need to support the computing requirements of a cloud computing model via different hardware and software components. The segment is further anticipated to grow at a CAGR of around 24% during the forecast period.
Geographically, the global public cloud market is segmented by five major regions into North America, Europe, Middle East & Africa, Asia-Pacific and Latin America region, out of which, North America is anticipated to hold the largest market share of around 61% in the year 2023 and attain a CAGR of around 23% during the forecast period on account of increasing technological innovations in the region, government initiatives for the advancement of technologies in different sectors and presence of a strong economy. The public cloud market in North America is further driven primarily by nations such as U.S. and Canada, where U.S. is predicted to attain a significant market share by the end of 2023.
However, concerns for the massive losses of the organizations on account of the rising incidences of data confidentiality and data security in organizations is a major factor estimated to act as a barrier to the growth of the global public cloud market.
This report also studies existing competitive scenario of some of the key players of the global public cloud market, which includes profiling of IBM Corporation (NYSE: IBM), Microsoft Corporation (NASDAQ: MSFT), Amazon.com, Inc. (NASDAQ: AMZN), Alphabet Inc. (NASDAQ: GOOGL), Hewlett Packard Enterprise Development LP, Oracle Corporation (NYSE: ORCL), VMware, Inc. (NYSE: VMW), Cisco Systems, Inc. (NASDAQ: CSCO), Salesforce.com, Inc. (NYSE: CRM) and Fujitsu Limited (TYO: 6702).
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The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Public Cloud Market – Global Demand Analysis & Opportunity Outlook 2023”, analyses the overall public cloud industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global public cloud market in the near future.
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