USD 444.7 billion
Public Cloud Market Size, Share, Growth Analysis, By Business Model(Infrastructure as a Service, Platform as a Services and Software as a Service), By Organization Size(SMEs and Large Enterprises), By Vertical(BFSI, Energy & Utilities, Government & Public Sector, Telecommunications), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45B2040 |
Region:
Global |
Published Date: July, 2024
Pages:
157
|Tables:
40
|Figures:
74
Public Cloud Market Insights
Global Public Cloud Market was valued at USD 522.1 billion in 2022 and is expected to rise from USD 613.02 billion in 2023 to reach a value of USD 2213.7 billion by 2031, at a CAGR of 17.41 % during the forecast period (2024–2031).
A public cloud is one in which the provider owns and manages the physical infrastructure. They can offer a dedicated or shared operating environment, as well as the capacity to scale up and down on demand and the assurance of responsibility. These services include limitless capacity, potentially appealing prices resulting from large-scale infrastructures and related operating methods, and a pay-as-you-go pricing approach, making upfront server purchases unnecessary.
The introduction of emerging technologies such as Artificial Intelligence (AI) and machine learning facilitates cloud growth by allowing businesses to tap into AI capabilities. The COVID-19 pandemic has emerged as a major threat to the global economy. Cloud computing allows businesses to survive the business continuity challenges posed by lockdown, work from home, social distancing, and other Public Cloud Market mandates. However, as a result of the pandemic, businesses, managers, and employees are increasingly opting for remote working. Remote working has emerged as the latest trend and is expected to continue in the long term.
Public Cloud allows businesses to adapt and run their operations more efficiently and quickly in response to changing Public Cloud Market conditions. It makes technology more consumer-friendly. It has opened up previously unimaginable possibilities for creating highly engaging customer experiences. People and businesses have changed their behaviour as a result of cloud, and multiple lines of business have been able to work around tech policies to get things done. Organizations' investment strategies, digital business decision processes, and vendor and technology selection are all influenced by cloud trends.
US Public Cloud Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024–2031
Global Market Size
Largest Segment
Cloud Business Process Services (Bpaas)
Fastest Growth
Cloud Application Infrastructure Services (Paas)
Growth Rate
17.3% CAGR
Public Cloud Service Market ($Bn)
Country Share for North American Region (%)
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Public Cloud Market Segmental Analysis
The global public cloud market is segmented based on business model, organization, vertical, and Region. Based on a business model the market is segmented into Infrastructure as a Service, Platform as a Services and Software as a Service. Based on organization the market is segmented into SMEs and large enterprises. Based on verticals the market is segmented into BFSI, Energy & Utilities, Government & Public Sector, Telecommunications, IT & ITES, Retail & Consumer Goods, Manufacturing, Media & Entertainment, Healthcare & Life Science, and Others. Based on region it is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Analysis by Business Model
The SaaS is the big player in the global public cloud market. SaaS stands for Software as a Service, and it covers lots of different software that we can use online. This means companies don't have to put software on their own computers and take care of it themselves. SaaS is on top because it's easy to use, doesn't cost too much, and can grow with businesses. Companies of all sizes can start using SaaS and make it bigger when they need to, without spending a ton of money upfront. Also, SaaS programs keep getting better with new technological advancements and stronger security. This gives businesses the newest tech without having to deal with updates on their own thus helping in segment’s growth.
The fastest-growing part of the global public cloud market is Infrastructure as a Service (IaaS). More companies want scalable and flexible computing resources they can get on-demand, which drives this growth. IaaS lets organizations rent virtual computing stuff like servers, storage, and networks, and they pay for what they use. This approach saves money and makes things run smoother for businesses whose computing needs change a lot or grow fast. Big data AI, and machine learning apps need strong scalable infrastructure, which also helps the IaaS part grow. Companies use these apps more and more, so they need more IaaS, leading to the fastest adoption of IaaS in this market.
Analysis by Organization Size
Big companies are running the show in the global public cloud market right now. These big firms have lots of money and complicated IT setups, so they're perfect for using public cloud services. They get a lot out of how easy it is to scale up or down, change things around, and save money with public cloud offerings. When big companies use public cloud services, they can set up and run apps, work together better, and make things run smoother across different places. Also, public cloud providers have strong security and follow rules that big organizations need, which makes more of them want to use cloud solutions.
Small and medium-sized enterprises (SMEs) are the fastest-growing part of the global public cloud market. More and more SMEs are using public cloud services to get advanced tech without spending big bucks on IT stuff. The way public cloud services charge - you pay for what you use - fits well with what SMEs can afford and need. Cloud services help SMEs to grow fast, be more flexible, and keep up with bigger companies. As more SMEs learn about how cloud computing can help them, and as more cloud solutions made just for SMEs come out, this part of the market is growing super quick. SMEs are starting to see that cloud services can give them a real boost in the business world.
Public Cloud Service Market by Business Model (%)
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Public Cloud Market Regional Insights
In 2021, North America dominated the global market, accounting for more than 40% of total revenue. Companies in the United States are known for being early adopters of next-generation technologies such as the Internet of Things, additive manufacturing, big data analytics, connected industries, AI, AR, ML, and VR, as well as the latest telecommunication technologies such as 4G, 5G, and LTE. Businesses in the United States are continuing to use cutting-edge technology, which bodes well for future growth. The presence of numerous vendors such as Microsoft Corporation, Oracle Corporation, Amazon.com Inc., and International Business Machines Corporation, as well as a greater willingness to adopt new technologies, are expected to aid this region in maintaining its Public Cloud Market position.
Public Cloud Service Market by Geography
- Largest
- Fastest
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Public Cloud Market Dynamics
Public Cloud Market Driver
- Millions of people utilize public cloud services to save important documents and other multimedia types over the internet. Customer demand for enormous amounts of data and the requirement for a large number of data centers may lead to a surge in demand for public cloud services. The Public Cloud Market study assesses the market's potential by looking at trends, opportunities, growth engines, roadblocks, and challenges to estimating Public Cloud Market growth and revenue size during the projected period.
- Smartphones, gadgets, and other consumer electronic devices have increased the demand for public cloud services. Enterprises and individuals may use public cloud services to store important data safely and securely. The huge number of encryption technologies integrated into the cloud account for data security might considerably increase the demand for public cloud services.
- Subscribing to pay-per-use models allows small and medium businesses (SMEs) to have access to data and efficiently manage operations. Because of their potential to keep operating costs low and increase productivity, cloud service firms are focusing on SMEs. Furthermore, governments' promotion of the use of digital services provides a significant possibility for the public cloud industry to grow. Over the projection period, the dependence on smart devices for business and personal uses might boost Public Cloud Market demand.
Public Cloud Market Restraint
- Due to changing business needs, increasing data breaches and cyber-attacks, and rising data security concerns, the need for meeting regulatory and compliance requirements has steadily increased in recent years. Furthermore, businesses must strive to stay afloat in the Public Cloud Market by complying with regulatory requirements, avoiding financial penalties, avoiding customer and revenue losses, and avoiding legal action.
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Public Cloud Market Competitive Landscape
The market's various competitors are challenged to provide innovative offerings that enable communication in addressing changing technologies, business practices, and security needs. Partnerships, strategic mergers, and acquisitions are expected to be the most effective ways for industry players to gain quick access to emerging markets while also improving technological capabilities. For instance, In May 2021, Barco has chosen Salesforce to improve its partner, customer, and employee experiences, as well as prepare its operations for future growth. Furthermore, In October 2020, Microsoft Corporation partnered with ZEISS Group to provide better patient care and improve manufacturing quality through data solutions. ZEISS Group planned to use Microsoft Azure as its cloud platform as part of this partnership to provide digital experiences to its German manufacturers, respond quickly to changing Public Cloud Market conditions, and boost overall productivity and efficiency.
Public Cloud Market Top Player's Company Profiles
- AWS (US)
- Microsoft (US)
- Google (US)
- Salesforce (US)
- Alibaba Cloud (China)
- Oracle (US)
- IBM (US)
- SAP (Germany)
- Tencent (China)
- Workday (US)
- Fujitsu (Japan)
- Vmware (US)
- Rackspace (US)
- HPE (US)
- Adobe (US)
- Nec (Japan)
- Cisco (US)
- Dell Technologies (US)
- OVH (France)
- Huawei (China)
- Verizon (US)
- Orange Group (France)
- Netapp (US)
- DigitalOcean (US)
- Zoho (India)
- Cloudflare (US)
- Dropbox (US)
- Box (US)
- Citrix Systems (US)
- ServiceNow (US)
Recent Developments
- In May 2024, Bharti Airtel and Google Cloud have announced a strategic partnership to accelerate cloud adoption and deployment of generative AI solutions across India. The collaboration aims to leverage Airtel's extensive network and customer base with Google Cloud's advanced AI and cloud technologies. This partnership is expected to significantly contribute to India's digital transformation journey.
- In April 2024, NetApp has been honored with the 2024 Google Cloud Technology Partner of the Year Award in the Infrastructure - Storage category for its exceptional work with Google Cloud NetApp Volumes. This recognition marks the second consecutive year NetApp has received this prestigious award, underscoring its commitment to delivering innovative storage solutions that empower customers to seamlessly migrate, deploy, and manage data on Google Cloud.
- In January 2024, Accenture successfully completed its acquisition of Navisite, a leading digital transformation and managed services provider. This strategic move aims to bolster Accenture's application and infrastructure managed services capabilities, enabling the company to better assist clients in their cloud transformation journeys.
Public Cloud Key Market Trends
- The COVID-19 pandemic has led to the closure of numerous operations throughout the world, as well as national governments enacting lockdowns to prevent the virus from spreading. The production and value chain of electronics gear has been significantly impacted, but on a bright note, it has encouraged remote working, which is good for the public cloud market. Organizations and workers can have uninterrupted access to IT resources housed in the public cloud without disrupting their operations.
- The pandemic is expected to induce one of the most significant workplace transformations. It's constantly evolving how businesses use smart technologies like mobile supercomputing, the Internet of Things, big data, and artificial intelligence to speed up Industry 4.0, the fourth industrial revolution. In Q3 2020, the cloud-computing Public Cloud Market has seen an increase in demand as companies continued to migrate workloads from traditional channels to digital formats. To maintain employee well-being and operational efficiency, a growing number of businesses across various verticals have adopted the work-from-home model, driving up demand for Software-as-a-Service (SaaS)-based solutions.
Public Cloud Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
Skyquest has identified that Enterprises with existing infrastructure are moving toward cloud computing services adoption and are willing to take a hybrid approach to reap the benefits of both on-premises and cloud services. Small businesses are increasingly turning to cloud computing services because of the numerous advantages they offer, including no upfront infrastructure costs and computing services that are available on demand. These factors are influencing the adoption of hybrid cloud services by businesses. Improved workload management, increased security and compliance, and efficient integration within DevOps teams are all advantages of the hybrid cloud. It also provides the necessary scalability to gain a competitive advantage over other businesses by allowing users to switch from on-premises to cloud or between clouds. As a result of these factors, there is a rise in hybrid CSP.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 522.1 billion |
| Market size value in 2031 | USD 2213.7 billion |
| Growth Rate | 17.41% |
| Base year | 2023 |
| Forecast period | 2024–2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Public Cloud Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Public Cloud Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Public Cloud Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Public Cloud Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Public Cloud Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Public Cloud Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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