Cloud Computing Market to Grow at a CAGR of 16.6% over 2025 to 2032; Rising Adoption of Big Data to Drive Market Growth

The global cloud computing market size was valued at USD 676.29 billion in 2024. The market is projected to grow from USD 781.27 billion in 2025 to USD 2,291.59 billion by 2032, exhibiting a CAGR of 16.6% during the forecast period. Fortune Business Insights™ presents this information in its report titled “Cloud Computing Market Size, Share & Industry Analysis, By Type (Public Cloud, Private Cloud, and Hybrid Cloud), By Service (Infrastructure as a Service (IaaS), Platform as a Service (PaaS), and Software as a Service (SaaS)), By Enterprise Type (SMEs and Large Enterprises), By Industry (BFSI, IT and Telecommunications, Government, Consumer Goods and Retail, Healthcare, Manufacturing, and Others), and Regional Forecast, 2025 – 2032”.

Cloud computing revolutionizes data management by providing remote storage and processing power over the internet. Its rapid growth is fueled by digital transformations, rising mobile connectivity, and big data adoption. Emerging technologies such as IoT, 5G, AI, and ML are accelerating their impact across industries.

Rapid Integration of Generative AI to Improve Data and Operational Efficiency Fuels Market Development

Generative AI is driving cloud transformations, enabling businesses to enhance data security, automation, and operational efficiency. AI-powered workflows facilitate seamless application migration, boosting cloud scalability. According to experts, GenAI can improve ROI by 75-110% points, cutting migration costs, accelerating remediation, and unlocking new business use cases.   

Microsoft and Vodafone Signed a Ten-Year Strategic Alliance to Bring Digital Services to over 300 Million Consumers

Microsoft and Vodafone signed a 10-year partnership in January 2024 to bring AI, cloud, and digital solutions to over 300 million users in Europe and Africa. The collaboration aimed to enhance customer engagement, develop digital services, and optimize Vodafone’s cloud infrastructure.

Integration of AI, ML, and Big Data with Cloud to Stimulate Market Growth

The increasing use of AI, ML, and big data is driving cloud computing market growth. These technologies enhance data visualization, monitoring, and analytics, enabling businesses to process vast amounts of information efficiently. Moreover, leading cloud service providers such as Amazon, Microsoft, and Google are integrating AI to improve cloud efficiency and reduce costs. For instance, Microsoft's collaboration with Globant in August 2023 aimed to accelerate AI and cloud adoption, highlighting the key role of AI in transforming cloud services.

However, rising cyberattacks and security concerns may obstruct cloud computing market growth.

Industry Participants Focus on Cutting Edge Solutions to Cement Market Position

Leading corporations are taking initiatives to develop state-of-the-art technology to gain a prominent position in the market. They are also heavily funding research & development to develop cloud computing solutions for businesses of both large and small scale to increase their customer pool.

List of Key Players Mentioned in the Report:

Key Industry Development:

• October 2024: Google Cloud and Citi signed a deal to enhance Citi's digital strategy with cloud-powered innovations. This partnership aimed to improve user experiences and upgrade Citi's technology infrastructure.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/cloud-computing-market-102697

Further Report Findings:

• With the early adoption of AI, Blockchain, and IoT, and the dominance of key cloud providers such as Microsoft Corporation, IBM Corporation, and Oracle Corporation, North America will continue leading the market.

• With rising demand for cloud adoption in telecom and healthcare, Asia Pacific is set to capture the key cloud computing market share with the highest CAGR. In February, Tech Data expanded its cloud offerings in Australia, providing tailored AWS and Microsoft IaaS and PaaS solutions.

Table of Segmentation