"We Envision Growth Strategies Most Suited
to Your Business"
The global cloud computing market size is projected to reach USD 684.55 billion by 2027. The rising usage of cloud-based applications, such as Gmail, Dropbox, and Facebook is augmenting enterprises to make the computation process cycle faster and robust. To do so, they are rapidly shifting towards omni-cloud computing solutions. Fortune Business Insights™ published this information in a new study, 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, 2020-2027.” The study further mentions that the market stood at USD 193.60 billion in 2019. But, it would exhibit a CAGR of 17.6% during the forecast period between 2020 to 2027.
Microsoft Corporation Opens New Cloud Computing Services in the U.K.
In May 2020, Microsoft Corporation introduced its latest cloud computing services in the U.K. Azure regions. The company’s main goal is to help keep the data of organizations secure and to boost innovation through IoT technology and bots. It therefore released 10 services for its cloud platforms that would enable the usage of its cutting-edge cybersecurity technology.
To get a detailed report summary and research scope of this market, click here:
High Demand for Netflix, Amazon Prime, & Hulu to Propel Growth
Nowadays, cloud computing solutions are being integrated with innovative technologies, such as machine learning (ML) and artificial intelligence (AI). It is helping enterprises to lower data storage complexities and to manage data efficiently. Apart from that, the COVID-19 pandemic is surging the demand for video-on-demand (VoD) solutions, namely, Amazon Prime, Netflix, and Hulu across the globe owing to the ‘stay at home’ practices. This is further resulting in the increasing need for IaaS cloud-based services, thereby bolstering the cloud computing market growth in the coming years. However, various solutions can go through cyber-attacks, application vulnerabilities, data loss, and unforeseen emergencies. These concerns may hinder growth.
Key Players Focus on New Product Development & Acquisitions to Intensify Competition
The global market is fragmented in nature. Some of the key companies are adopting the merger and acquisition strategy to co-develop new solutions. Others are trying to compete against their rivals by launching new services.
Fortune Business Insights™ presents a list of the service providers operating in this global market. They are as follows:
A Significant Industry Development-
Further Report Findings-
The global market can be segmented in the following way:
2016 – 2027
2020 – 2027
2016 – 2018
Value (USD billion)