Cloud Computing Market – Overview
With mobility emerging as a key word for market growth in recent times, cloud computing which offers just that and much more has grown rapidly as a result. Market Research Future, a firm which specializes in market reports related to the Information and Communications Technology sector among others, recently published a report on this market. The global Cloud Computing Market is expected to mature at a 15 per cent CAGR approximately throughout the forecast period.
As cloud computing considerably reduces the time taken to get applications to market, the appeal of the sector is significantly enhanced. Its main feature to enhance the usage of shared computing resources has increased its range of applications. Increased need for technologically upgraded services has also prompted further expansion of the market. Increased adoption rates have also been instrumental in development of the market.
Global Competitive Analysis
A trend of volume-driven growth has been observed in the market of late with the development of different varieties of product types. The sector is undergoing considerable transformation which has accelerated the growth pace of the sector. The industry players in the segment are effectively utilizing their primary resources to initiate long lasting growth changes. The best long-term growth opportunities for this sector can be harnessed by ensuring ongoing process improvements and maintaining financial flexibility to invest in the optimal strategies. Conversely, with companies aiming to capture a considerable share of the market segment as early as possible, experimentation with various advantage points is being seriously considered and implemented.
The key players in market include Akamai Technologies Inc. (U.S.), Amazon Web Services LLC (U.S.), CA Technologies (U.S.), Dell Inc. (U.S.), Flexiant Ltd. (U.K.), Google Inc. (U.S.), Hewlett-Packard Development Company L.P. (U.S.), IBM Corporation (U.S.).
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Industry Segments
The global cloud computing is divided on the basis of cloud service type, deployment model, application and region. On the basis of cloud service type, the segment is further classified into software as a service (SaaS), platform as a service (PaaS), and infrastructure as a service (IaaS) among others. Further, on the basis of deployment model, the industry is further classified into private cloud, public cloud, hybrid cloud and community cloud. The cloud computing market has a wide range of application areas such as government, BFSI, healthcare and many more.
Industry Updates:
Jan 2018 Middleware developer Epic Games announced recently the purchase of Cloudgine, a cloud computing and online technology business. Cloudgine which specializes in the delivery of massive compute power to real-time, interactive content, and is especially useful when it comes to videogames, enterprise applications and virtual reality (VR) to name a few. The key reason behind Epic Games purchase of Cloudgine is that its R & D has been based on Unreal Engine 4, Epic Games videogame development engine which has been used for many VR titles.
Jan 2018 A French startup Blade, which is behind Shadow, is about to grow its cloud gaming service to the U.S. Shadow is currently live in France, Belgium, Switzerland and Luxembourg. The company has also recently signed a partnership with Equinix to roll out its servers in more data centers around the world.
Jan 2018 Snowflake recently announced an enormous investment round, which bought in $263m on a unicorn post-money valuation of $1.5B. The round was led by a slew of high-profile VC firms and with total funds raised have now topped off at $473m. The company is expected to set its sights on an IPO in the near future. The digital warehouse service company uses cloud-based technology to store data for some of the largest companies in the world.
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Detailed Regional Analysis
The market for cloud computing has been segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). North America, especially the U.S. cloud computing market size accounted for over 50% total share of global cloud computing market. Since North America is home to largest companies in terms of revenue, which includes Amazon web service, Salesforce, Google, Microsoft, IBM and other major companies are the main reason for this growth. The Asia Pacific cloud computing market is expected to grow at a very rapid pace. The key underlying reason across the markets is the increase in demand for managed cloud services. This can be attributed to big data and complex workloads which are being increasingly migrated to cloud platforms. In addition, enterprises are also turning to third-party service providers to better address their cloud security concerns.
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