Cloud Services Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2024

Description

Market Overview

In 2024, the size of the worldwide cloud services industry is projected to have stood at USD 882.5 billion, and it is expected to attain USD 2,273.8 billion by the end of 2030, growing at a CAGR of 17.1% over the forecast period.

A significant development in the market is the Internet of Things, wireless transmissions, and connected devices and equipment, the cloud computing acts as an enabler, delivering computer processing and storage for IoT and other applications. Information can be saved by an organization on a server, which is different from the original place or location.

This way the devices remain linked and send information to one other and a monitoring software for real-time interaction. The act of linking wireless communication devices as well as wireless communication networks to cloud service is referred to as wireless networking cloud integration. They include scalability, security, and flexibility and the cost of the framework is comparatively less than traditional networks.

The expanding economy in developing nations, the growing number of industries and enterprises setting up manufacturing entities, and the growing understanding that many businesses and individuals derive significant benefits from cloud services also drive the market. Assuming the use of cloud service, an enterprise can cut down its annual recurring cost significantly by bypassing investments in its physical IT requirements.

Key Insights

Public cloud is the largest category with a 55% share in 2024.

Growth is driven by demand for cost-efficient, scalable, and secure solutions.

The rise in connected devices, IoT, automation, and digital transformation boosts demand.

Hybrid cloud is expected to advance at a 17.5% CAGR during 2024-2030.

Combines the benefits of private and public clouds for better resource optimization, flexibility, and scalability.

SaaS is the largest category with a 50% share in 2024.

Fastest-growing category with a 17.6% CAGR during 2024-2030.

Growth due to cost-effectiveness, low maintenance, ease of deployment, and rising hybrid cloud usage.

Large enterprises hold a 65% share in 2024.

Require cloud services for scalability, operational efficiency, seamless collaboration, and strong security.

IT & telecom category held a 25% share in 2024.

Telecommunication providers use cloud services for data analysis, storage, and robust security.

Collaborations, such as Airtel and Vultr in February 2023, drive growth.

The BFSI sector is expected to witness a 17.8% CAGR during 2024-2030.

Requires cloud services for payment gateways, digital wallets, online funds transfer, and data privacy compliance.

North America held a 45% global market share in 2024.

Early adoption of advanced technologies and presence of cloud service giants (Amazon, Microsoft, Oracle, Google, IBM).

Asia-Pacific is the fastest-growing region with a 17.7% CAGR during 2024-2030.

Economic growth and adoption of advanced technologies (blockchain, robotics, AI, IoT, 5G) drive demand for cloud servers.

Product Code: 12985

Chapter 1. Research Scope

1.1. Research Objectives
1.2. Market Definition
1.3. Analysis Period
1.4. Market Size Breakdown by Segments
- 1.4.1. Market size breakdown, by deployment mode
- 1.4.2. Market size breakdown, by organization size
- 1.4.3. Market size breakdown, by type
- 1.4.4. Market size breakdown, by vertical
- 1.4.5. Market size breakdown, by region
- 1.4.6. Market size breakdown, by country
1.5. Market Data Reporting Unit
- 1.5.1. Value
1.6. Key Stakeholders

Chapter 2. Research Methodology

2.1. Secondary Research
- 2.1.1. Paid
- 2.1.2. Unpaid
- 2.1.3. P&S Intelligence database
2.2. Primary Research
2.3. Market Size Estimation
2.4. Data Triangulation
2.5. Currency Conversion Rates
2.6. Assumptions for the Study
2.7. Notes and Caveats

Chapter 3. Executive Summary

Chapter 4. Market Indicators

Chapter 5. Industry Outlook

5.1. Market Dynamics
- 5.1.1. Trends
- 5.1.2. Drivers
- 5.1.3. Restraints/challenges
- 5.1.4. Impact analysis of drivers/restraints
5.2. Impact of COVID-19
5.3. Porter's Five Forces Analysis
- 5.3.1. Bargaining power of buyers
- 5.3.2. Bargaining power of suppliers
- 5.3.3. Threat of new entrants
- 5.3.4. Intensity of rivalry
- 5.3.5. Threat of substitutes

Chapter 6. Global Market

6.1. Overview
6.2. Market Revenue, by Deployment Mode (2019-2030)
6.3. Market Revenue, by Organization Size (2019-2030)
6.4. Market Revenue, by Type (2019-2030)
6.5. Market Revenue, by Vertical (2019-2030)
6.6. Market Revenue, by Region (2019-2030)

Chapter 7. North America Market

7.1. Overview
7.2. Market Revenue, by Deployment Mode (2019-2030)
7.3. Market Revenue, by Organization Size (2019-2030)
7.4. Market Revenue, by Type (2019-2030)
7.5. Market Revenue, by Vertical (2019-2030)
7.6. Market Revenue, by Country (2019-2030)

Chapter 8. Europe Market

8.1. Overview
8.2. Market Revenue, by Deployment Mode (2019-2030)
8.3. Market Revenue, by Organization Size (2019-2030)
8.4. Market Revenue, by Type (2019-2030)
8.5. Market Revenue, by Vertical (2019-2030)
8.6. Market Revenue, by Country (2019-2030)

Chapter 9. APAC Market

9.1. Overview
9.2. Market Revenue, by Deployment Mode (2019-2030)
9.3. Market Revenue, by Organization Size (2019-2030)
9.4. Market Revenue, by Type (2019-2030)
9.5. Market Revenue, by Vertical (2019-2030)
9.6. Market Revenue, by Country (2019-2030)

Chapter 10. LATAM Market

10.1. Overview
10.2. Market Revenue, by Deployment Mode (2019-2030)
10.3. Market Revenue, by Organization Size (2019-2030)
10.4. Market Revenue, by Type (2019-2030)
10.5. Market Revenue, by Vertical (2019-2030)
10.6. Market Revenue, by Country (2019-2030)

Chapter 11. MEA Market

11.1. Overview
11.2. Market Revenue, by Deployment Mode (2019-2030)
11.3. Market Revenue, by Organization Size (2019-2030)
11.4. Market Revenue, by Type (2019-2030)
11.5. Market Revenue, by Vertical (2019-2030)
11.6. Market Revenue, by Country (2019-2030)

Chapter 12. U.S. Market

12.1. Overview
12.2. Market Revenue, by Deployment Mode (2019-2030)
12.3. Market Revenue, by Organization Size (2019-2030)
12.4. Market Revenue, by Type (2019-2030)
12.5. Market Revenue, by Vertical (2019-2030)

Chapter 13. Canada Market

13.1. Overview
13.2. Market Revenue, by Deployment Mode (2019-2030)
13.3. Market Revenue, by Organization Size (2019-2030)
13.4. Market Revenue, by Type (2019-2030)
13.5. Market Revenue, by Vertical (2019-2030)

Chapter 14. Germany Market

14.1. Overview
14.2. Market Revenue, by Deployment Mode (2019-2030)
14.3. Market Revenue, by Organization Size (2019-2030)
14.4. Market Revenue, by Type (2019-2030)
14.5. Market Revenue, by Vertical (2019-2030)

Chapter 15. France Market

15.1. Overview
15.2. Market Revenue, by Deployment Mode (2019-2030)
15.3. Market Revenue, by Organization Size (2019-2030)
15.4. Market Revenue, by Type (2019-2030)
15.5. Market Revenue, by Vertical (2019-2030)

Chapter 16. U.K. Market

16.1. Overview
16.2. Market Revenue, by Deployment Mode (2019-2030)
16.3. Market Revenue, by Organization Size (2019-2030)
16.4. Market Revenue, by Type (2019-2030)
16.5. Market Revenue, by Vertical (2019-2030)

Chapter 17. Italy Market

17.1. Overview
17.2. Market Revenue, by Deployment Mode (2019-2030)
17.3. Market Revenue, by Organization Size (2019-2030)
17.4. Market Revenue, by Type (2019-2030)
17.5. Market Revenue, by Vertical (2019-2030)

Chapter 18. Spain Market

18.1. Overview
18.2. Market Revenue, by Deployment Mode (2019-2030)
18.3. Market Revenue, by Organization Size (2019-2030)
18.4. Market Revenue, by Type (2019-2030)
18.5. Market Revenue, by Vertical (2019-2030)

Chapter 19. Japan Market

19.1. Overview
19.2. Market Revenue, by Deployment Mode (2019-2030)
19.3. Market Revenue, by Organization Size (2019-2030)
19.4. Market Revenue, by Type (2019-2030)
19.5. Market Revenue, by Vertical (2019-2030)

Chapter 20. China Market

20.1. Overview
20.2. Market Revenue, by Deployment Mode (2019-2030)
20.3. Market Revenue, by Organization Size (2019-2030)
20.4. Market Revenue, by Type (2019-2030)
20.5. Market Revenue, by Vertical (2019-2030)

Chapter 21. India Market

21.1. Overview
21.2. Market Revenue, by Deployment Mode (2019-2030)
21.3. Market Revenue, by Organization Size (2019-2030)
21.4. Market Revenue, by Type (2019-2030)
21.5. Market Revenue, by Vertical (2019-2030)

Chapter 22. Australia Market

22.1. Overview
22.2. Market Revenue, by Deployment Mode (2019-2030)
22.3. Market Revenue, by Organization Size (2019-2030)
22.4. Market Revenue, by Type (2019-2030)
22.5. Market Revenue, by Vertical (2019-2030)

Chapter 23. South Korea Market

23.1. Overview
23.2. Market Revenue, by Deployment Mode (2019-2030)
23.3. Market Revenue, by Organization Size (2019-2030)
23.4. Market Revenue, by Type (2019-2030)
23.5. Market Revenue, by Vertical (2019-2030)

Chapter 24. Brazil Market

24.1. Overview
24.2. Market Revenue, by Deployment Mode (2019-2030)
24.3. Market Revenue, by Organization Size (2019-2030)
24.4. Market Revenue, by Type (2019-2030)
24.5. Market Revenue, by Vertical (2019-2030)

Chapter 25. Mexico Market

25.1. Overview
25.2. Market Revenue, by Deployment Mode (2019-2030)
25.3. Market Revenue, by Organization Size (2019-2030)
25.4. Market Revenue, by Type (2019-2030)
25.5. Market Revenue, by Vertical (2019-2030)

Chapter 26. Saudi Arabia Market

26.1. Overview
26.2. Market Revenue, by Deployment Mode (2019-2030)
26.3. Market Revenue, by Organization Size (2019-2030)
26.4. Market Revenue, by Type (2019-2030)
26.5. Market Revenue, by Vertical (2019-2030)

Chapter 27. South Africa Market

27.1. Overview
27.2. Market Revenue, by Deployment Mode (2019-2030)
27.3. Market Revenue, by Organization Size (2019-2030)
27.4. Market Revenue, by Type (2019-2030)
27.5. Market Revenue, by Vertical (2019-2030)

Chapter 28. U.A.E. Market

28.1. Overview
28.2. Market Revenue, by Deployment Mode (2019-2030)
28.3. Market Revenue, by Organization Size (2019-2030)
28.4. Market Revenue, by Type (2019-2030)
28.5. Market Revenue, by Vertical (2019-2030)

Chapter 29. Competitive Landscape

29.1. List of Market Players and their Offerings
29.2. Competitive Benchmarking of Key Players
29.3. Product Benchmarking of Key Players
29.4. Recent Strategic Developments

Chapter 30. Company Profiles

30.1. Amazon Web Services Inc.
- 30.1.1. Business overview
- 30.1.2. Product and service offerings
- 30.1.3. Key financial summary
30.2. Oracle Corporation
- 30.2.1. Business overview
- 30.2.2. Product and service offerings
- 30.2.3. Key financial summary
30.3. IBM Corporation
- 30.3.1. Business overview
- 30.3.2. Product and service offerings
- 30.3.3. Key financial summary
30.4. Alibaba Group Holding Limited
- 30.4.1. Business overview
- 30.4.2. Product and service offerings
- 30.4.3. Key financial summary
30.5. Microsoft Corporation
- 30.5.1. Business overview
- 30.5.2. Product and service offerings
- 30.5.3. Key financial summary
30.6. Alphabet Inc.
- 30.6.1. Business overview
- 30.6.2. Product and service offerings
- 30.6.3. Key financial summary
30.7. Cisco Systems Inc.
- 30.7.1. Business overview
- 30.7.2. Product and service offerings
- 30.7.3. Key financial summary
30.8. Dell Technologies Inc.
- 30.8.1. Business overview
- 30.8.2. Product and service offerings
- 30.8.3. Key financial summary
30.9. Hewlett Packard Enterprise Development LP
- 30.9.1. Business overview
- 30.9.2. Product and service offerings
- 30.9.3. Key financial summary
30.10. Adobe Inc.
- 30.10.1. Business overview
- 30.10.2. Product and service offerings
- 30.10.3. Key financial summary
30.11. DXC Technology Inc.
- 30.11.1. Business overview
- 30.11.2. Product and service offerings
- 30.11.3. Key financial summary

Chapter 31. Appendix

31.1. Abbreviations
31.2. Sources and References
31.3. Related Reports

Cloud Services Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2024 - 2030)