Global Cloud Computing Market was valued at USD 275.22 billion in 2019 which is expected to reach USD 625.45 billion by 2027 at a CAGR 18.8%.
The global Cloud Computing market is studied in detail in the new report on Qualiket Research. The new report studies the Cloud Computing market by profiling its major driving factors and restraining factors, compiling a comprehensive database on the market’s historical growth trajectory and present conditions, and by using easy formulation of calculations and estimations through the use of industry-leading analytical tools and methods.
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Cloud computing technology is the practice of network sharing of remote servers that are hosted on internet to store, process, and data management rather than on personal computer or local server. Use of cloud computing technology gives cost benefits and makes applications accessible to all type devices in the network at any time and any location.
Increase in digitalization and penetration of internet and medical devices is expected to boost the global cloud computing market growth. Furthermore, continuous developments of next generation industrial solutions and rise in adoption of edge computing, 5G technology, Internet of Things (IOT), Machine Learning, and Artificial Intelligence will have the positive impact on global cloud computing market growth. Increase in innovation in cloud computing is expected to propel the growth of global cloud computing market growth.
However, data privacy and security concern is the major restraining factor which is expected to hamper the growth of global cloud computing market.
Market Key Players
Various key players are discussed in this report such as AWS, Salesforce, Rackspace, VMware, SPA, Alibaba, Oracle, Google, and Microsoft Corporation.
- Infrastructure as a Service (IaaS)
- Software as a service (SaaS)
- Platform as a Service (PaaS)
By Deployment Type
- Private Cloud
- Public Cloud
- Hybrid Cloud
- Community Cloud
By Enterprise Size
- Small and Medium Size Enterprise
- Large Enterprise
- IT & Telecommunication
- Consumer Goods and Retail
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
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