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Cloud Computing Market Size to reach USD 1,119.5 Billion By 2026 Growing at 15.2% CAGR | GlobalData Plc 
Cloud Computing Market 2022-2026
LONDON, UK, October 24, 2022 /EINPresswire.com/ — The global cloud computing market size reached USD 552.3 billion in 2021, according to a new report by GlobalData Plc. The inception of big data and the need to efficiently handle, access, and manage it drives the demand for cloud computing products and services. Additionally, with increasing dependency on IoT devices, data hosting on the cloud is inevitable further propelling the demand for cloud computing.
View Report Outlook at: https://www.globaldata.com/store/report/cloud-computing-market-analysis/
One of the most detrimental factors compelling businesses to switch to cloud computing is rapid digitization. Cloud computing has proved to be helpful to businesses in adopting faster ways to handle large data streams, thereby assisting them to improve the customer experience substantially. Furthermore, with the advent of cloud computing organizations can worry less about data theft and data loss since cloud computing solutions offer sophisticated security features and data recovery options.
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Cloud Computing Report Highlights
• The global cloud computing is projected to witness a CAGR of 15.2% from 2022 to 2026, reaching a value of $1,119.5 billion. Rapid digitization and implementation of next-gen technologies such as AI, ML, AR, and VR among others is fueling the demand for cloud computing worldwide.
• In 2021, the service segment captured a significant share with a market size projected to exceed US$ 1,000 billion by 2026 at a CAGR exceeding 12% from 2022 to 2026. A large portion of the segment growth is driven by the inclusion of high-revenue services such as SaaS, PaaS, and IaaS.
• The BFSI segment, largely driven by the generation of immense user data on everyday basis, transaction records, and the need for service delivery through cloud computing platforms, acquires the largest market share amongst other verticals.
• COVID-19, over the last two years, had a massive impact on the cloud computing demand. Professionals working remotely forced many SMEs to adopt cloud computing solutions to ensure hassle-free operations.
• North America is anticipated to surpass the Asia Pacific region which currently holds the largest regional share exceeding 25% in the year 2021.
• The key players in cloud computing market analyzed as part of this report include Amazon Web Services, Google, International Business Machines Corporation (IBM), Microsoft Corp, Alibaba Holdings Ltd, Tencent Holdings Ltd, Oracle Corp, Salesforce Inc, SAP SE, and Cisco Systems Inc, among others.
• In the cloud computing growth innovation matrix, vendors including Alphabet Inc., Oracle Corp., Microsoft Corp. lead the industry making them flagbearers in 2021.
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GlobalData Plc has segmented the Cloud Computing report by IT Infrastructure, Product/Service, Vertical, and region:
Cloud Computing IT Infrastructure Outlook (Revenue, USD Million, 2019-2026)
• Service
• Software/Application
Cloud Computing Product/Service Outlook (Revenue, USD Million, 2019-2026)
• Cloud Management Platforms
• Hybrid Cloud Services
• IaaS
• Managed Cloud Services
• PaaS
• Private Cloud Services
• SaaS
Cloud Computing Vertical Outlook (Revenue, USD Million, 2019-2026)
• BFSI
• Information Technology
• Manufacturing
• Retail
• Energy
• Government
• Transport & Logistics
• Others
Cloud Computing Outlook Report with detailed spend category segment analysis is available with Global Data Now! Make a Purchase Right Here!
Cloud Computing Regional Outlook (Revenue, USD Million, 2019-2026)
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o U.K.
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o Australia
o Singapore
o Rest of Asia Pacific
• South & Central America
o Brazil
o Argentina
o Chile
o Colombia
o Rest of South & Central America
• Middle East & Africa
o United Arab Emirates (UAE)
o Kingdom of Saudi Arabia (KSA)
o South Africa
o Rest of Middle East & Africa
Related Reports
• https://www.globaldata.com/reports/digital-innovation-case-studies-cloud-1
About us
GlobalData is a leading provider of data, analytics, and insights on the world's largest industries. In an increasingly fast-moving, complex, and uncertain world, it has never been harder for organizations and decision-makers to predict and navigate the future. GlobalData's mission is to help our clients to decode the future and profit from faster, more informed decisions. As a leading information services company, thousands of clients rely on us for trusted, timely, and actionable intelligence. Our solutions are designed to provide a daily edge to professionals within corporations, financial institutions, professional services, and government agencies.
Media Contacts
Mark Jephcott
GlobalData Plc
+44 20 7936 6400
mark.jephcott@globaldata.com
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