Global Cloud Computing Services Market Size, Share, Development, Growth and Demand Forecast to 2024

  • Publishing: May 2021
  • Report Code: IM10100
  • Available Format: PDF

The cloud computing services market is expected to gain acceptance and become a key element in delivering IT services because of the growing need for fast and flexible IT systems and significant advantages which cloud offers compared to traditional on-premises data center services. With several newcomers, such as Enomaly Inc., GoGrid LLC and AT&T, instilling innovations, the cloud computing services market is expected to experience huge growth in the forecast period with its increasing adoption by companies around the world.

Amazon Web Services, Inc. dominates the global cloud computing services market, followed by Google Inc. and Microsoft. The reason behind the success of Amazon’s Web Services is that it provides not only storage, but also applications that companies can run in the cloud as well. It has been estimated that one of the three internet consumers visits a site or use a service (such as netflix) running at Amazon's cloud at least once every day.

The growth in cloud computing services is driven by demand in developed nations in Western markets, such as Europe and North America. The developing nations are slowly adopting the concept of cloud computing, and are expected to drive the growth of cloud computing services in the later part of the decade.

Cloud computing service is the practice of using a network of remote servers hosted on the internet to manage, store and process data, rather than a local server or a personal computer. It can also be defined as the delivery of on-demand computing resources, everything from applications to data centres over the internet on a pay-for-use basis.

Based on types of security, the cloud computing services market can be broadly classified into Software as a Service (SaaS), Infrastructure as a Service (IaaS) and Platform as a Service (PaaS). Amongst these, the most commonly used cloud computing service is the Software as a Service (SaaS), which can be accessed from anywhere in the world as long as the user has an access to internet connection.

A major trend observed in the cloud computing services market is the use of containers for a private view of the application. Containers offer private process ID space, file system structure, network interfaces, isolated resources and restricted services (a definite amount of resources such as CPU, memory and I/O). Containers are more efficient competitors to hardware virtualization, and many Platform as a Service (PaaS) implementations, including Heroku, CloudFoundry, OpenShift and dotCloud, use containers. Additionally, some of the private cloud, Infrastructure as a Service (IaaS) implementations, such as Cloudstack and OpenStack, offer support for containers. So, containers are a feasible new type of virtualization that is expected to grow and influence the direction of cloud computing services market.

However, lack of security is a major challenge to the global cloud computing services market. Cloud vendors and corporations have to keep pace with rapidly emerging threats and accordingly develop ways to safeguard their cloud services from the new and existing threats. The technical backwardness of emerging economies poses limitations on cloud computing services due to lack of technical knowledge and infrastructure availability.

Some of the competitors in the cloud computing services market are Rackspace Hosting Inc., Red Hat Inc.,, VMware Inc., Novell Inc., OpSource Inc., Oracle Corporation, Joyent, Inc., International Business Machines Corp. (IBM) and NetSuite Inc.


Report Coverage

  • Provides comprehensive understanding of the market with the help of informed market outlook, opportunities, challenges, trends, size and growth, competitive analysis, major competitors and Porter analysis
  • Identifies the key drivers of growth and challenges of the key industry players. Also, assesses the future impact of the propellants and restraints on the market
  • Uncovers potential demands in the market
  • Porter analysis identifies competitive forces within the market
  • Provides information on the historical and current market size and the future potential of the market
  • Provides sizes of key regional markets using yardsticks of processes, segments, products, end user and technology, etc (as applicable)
  • Highlights the competitive scenario of the market, major competitors, market share, benchmarking, investments and merger acquisitions
  • Provides profiles of major competitors of the market including details of their operations, product and services, recent developments and key financial metrics. Profiles provide better understanding of competition as well as the demands of the market.
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