Public Cloud Market to hit $1 Tn by 2032, Says Global Market Insights Inc.
Major public cloud market participants include Alibaba Group Holding Limited, SAP SE, Oracle Corporation, IBM Corporation, Tencent Cloud and Nutanix.
Selbyville, Delaware, March 29, 2023 (GLOBE NEWSWIRE) —
The public cloud market valuation is expected to reach USD 1 trillion by 2032, as reported in a research study by Global Market Insights Inc.
The growing adoption of cloud computing solutions in developing countries is slated to have a positive impact on the industry outlook. Rapid uptake in emerging countries such as India and Singapore due to thriving digitalization and the development of advanced network grid infrastructure is playing a key role in establishing cloud-operated businesses. In September 2022, the Government of India announced an investment of USD 30 billion for digital transformation in rural areas that will ensure good quality, high-speed data connectivity across the nation.
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The public cloud market from the IaaS segment is poised to exceed USD 350 billion by 2032. Soaring digitization and soaring inclination toward cloud-based business operations are increasing the demand for IaaS that offers inexpensive delivery of IT infrastructure, such as computing and storage. Recently, in February 2023, Tencent Cloud, a technology solutions provider, signed an MoU with Saudi Arabia-based integrated service expert Mobily to provide IaaS products, such as cloud virtual machines, storage, and network solutions, in the Kingdom of Saudi Arabia.
The public cloud market from the large enterprises segment was held more than 40% industry share in 2022, as a result of the huge amount of less-sensitive data possessed by large businesses that need adequate storage. The public cloud is affordable and supports the integration of novel measures into business models. In February 2023, computer technology behemoth Oracle announced a seven-year cloud partnership with Uber, a mobility services firm. Oracle Cloud Infrastructure agreed to aid Uber in boosting innovation, storing client data, and modernizing its infrastructure.
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The public cloud market from the media and entertainment applications segment will expand at over 12% CAGR through 2032. The adoption of public cloud is growing in the media & entertainment sector as it improves the effectiveness and quality of content streaming compared to on-premise infrastructure that hampers content quality and demands significant maintenance. To cite an instance, in July 2022, Comcast Technology Solutions announced a deployment deal of its Cloud TV Suite with Deutsche Telekom. The company expanded its cloud solution portfolio for Deutsche Telekom’s Magenta TV business landscapes.
Europe public cloud market will account for over 20% market revenue by 2032, as major companies are investing heavily in technical innovations for regional infrastructure. To quote an instance, in August 2021, tech leader Google announced an investment of more than USD 1 billion to extend a new Google Cloud region in Frankfurt. The company aims to accelerate digitalization in Germany and build a sustainable economy with advanced infrastructure and clean energy.
Top participants operating in the public cloud market are Alibaba Group Holding Limited, SAP SE, Oracle Corporation, IBM Corporation, Tencent Cloud., and Nutanix. These firms are expected to focus on advancements in product capabilities and engage in promising collaborations. For instance, in May 2022, IBM Corporation, an advanced technology firm, inked a collaborative agreement with Amazon Web Services Inc., an IT service management company, to enable SaaS software on AWS. This software supports automation, security capabilities, AI & data, runs cloud-native on AWS, and is built on Red Hat OpenShift Service. This deal enabled users to access IBM SaaS software within AWS marketplace and integrate it with AWS services.
Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Public cloud 360° synopsis, 2018-2032
2.2 Business trends
2.2.1 Total Addressable Market (TAM), 2023-2032
2.3 Regional trends
2.4 Deployment model trends
2.5 Organization Size trends
2.6 Application trends
Chapter 3 Public Cloud Market Industry Insights
3.2 Impact of COVID-19
3.2.1 North America
3.2.3 Asia Pacific
3.3 Russia- Ukraine war impact
3.4 Industry ecosystem analysis
3.4.1 Platform providers
3.4.2 Service provider
3.4.3 System integrators
3.4.4 Distribution channel analysis
3.4.5 End-users landscape
3.4.6 Profit margin analysis
3.4.7 Vendor matrix
3.5 Technology & innovation landscape
3.6 Patent analysis
3.7 Key initiative and news
3.8 Regulatory landscape
3.8.1 North America
3.8.3 Asia Pacific
3.9 Industry impact forces
3.9.1 Growth drivers
184.108.40.206 Increasing Integration of big data, AI and ML with cloud
220.127.116.11 Increasing Public cloud spending
18.104.22.168 Growing adoption of cloud computing solutions in developing countries
22.214.171.124 Rising deployment of IaaS and PaaS in SMEs
126.96.36.199 Cost effective and scalable
3.9.2 Industry pitfalls & challenges
188.8.131.52 Data privacy and information security concerns
184.108.40.206 Cloud Wastage
3.10 Growth potential analysis
3.11 Porter’s analysis
3.12 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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