In 2023, the worldwide cloud computing market achieved a valuation of US$ 579.58 billion, and it is anticipated to expand at a steady pace of 13.5% between 2023 and 2033, ultimately reaching an impressive value of US$ 2,062.26 billion by 2033.
With the growing realization of the immense benefits of using public cloud computing platforms, the market has emerged as an important part of the global economic system. In the present world, there are several cloud computing service providers catering to a huge demand for various remote facilities.
What are the Different Market Dynamics Propelling the Global Cloud Computing Market?
Given the immense advantages of integrating cloud computing services, the global markets are nowadays providing cloud-based servers for small businesses for increasing their customer base.
What are the Key Obstacles Impeding the Progress of Market Participants?
The following are likely to prove as challenges that participants are confronted with:
Attributes | Details |
---|---|
Cloud Computing Market Value (2023) | US$ 579.58 billion |
Cloud Computing Market Value (2033) | US$ 2,062.26 billion |
Cloud Computing Market Growth Rate (2023 to 2033) | 13.5 %. |
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
Improving digital literacy around the world and the rapid adoption of digital applications for enhancing the user experience has compelled many service-based companies to blend in several features in their production systems. This need for combining many different digital features is promoting the use of cloud computing platforms as a perfect model creating great opportunities for cloud computing providers.
The market is also getting high traction in the form of long-term subscriptions to personal cloud computing services these days. The establishment of many cloud computing industries in the global market has brought down computing costs considerably in the past years. The decreasing prices of cloud computing services are expected to surge the market for cloud computing from 2023 to 2033.
The use of the Google cloud platform or any other cloud computing platform has decreased the cost of production by reducing the requirement of hiring on-site employees. This stands as a prominent point for the high popularity of cloud computing services in the global market.
As per FMI study, the Software as a Service (SaaS) sub-segment led the market, holding a value share of 52.7% globally in 2022.
The rising enterprise demand is expected to accelerate the growth of the Software as a Service (SaaS) sector, driven by its simple deployment and low maintenance requirements. Its subscription-based model provides cost efficiencies by eliminating upfront infrastructure investments. SaaS sub segment also simplifies deployment and updates, relieving organizations of maintenance tasks.
By leveraging SaaS, organizations can focus on their core competencies and strategic goals. Outsourcing software functionality to SaaS providers allows businesses to allocate their resources and efforts toward their primary areas of expertise. This results in improved productivity and efficiency.
The applicability of cloud computing networks has covered a lot of areas in any economy. Most end users prefer the public cloud segment owing to its great affordability and easy availability of users. In the coming years, this segment is expected to continue its dominance over the cloud computing market share, where it accounted for 67.8% in 2022.
The private cloud deployment segment has also been analyzed to be gaining momentum with the introduction of some popular personal cloud computing products in the market. Individual customers mostly go for the best cloud backup for PC, which is anticipated to create some attractive opportunities for the market players.
Regions | CAGR (2023 to 2033) |
---|---|
The United Kingdom (UK) | 12.5% |
China | 13.7% |
India | 13.1% |
By the broad geographical division of the global market for cloud computing, North America holds the significant share by contributing about 34.6% of the revenue as per the 2022 records.
Due to the presence of most of the leading companies such as Google computing, Amazon cloud services, Microsoft edge computing, and others, the market in the United States of America was accounted for 21.2% value share in 2022.
North America boasts a thriving business ecosystem, with several enterprises embracing cloud computing solutions. The region's mature market, entrepreneurial culture, and technological adoption contribute to its supremacy.
The regulatory environment in North America, characterized by clear data protection and privacy laws, fosters trust and confidence among businesses and consumers, facilitating the widespread adoption of cloud computing services.
During the forecast time period, the growth of Asia Pacific cloud computing market share is predicted to be high than in any other geographic region. The evolution of a robust IT sector and the emergence of new cloud market shareholders have provided the necessary impetus for a significantly growing market in the region.
In accordance with the FMI research, the market for cloud computing in China is estimated to account for a significant portion of market share, advancing at a CAGR of 13.7% and India at a rate of 13.1% from 2023 to 2033.
Asia Pacific region is witnessing a significant digital transformation across various industries. Organizations are adopting cloud computing to modernize their operations, enhance agility, and drive innovation.
The growth of cloud computing providers in Europe and Latin America has also surged considerably in the past decade. With the growing demand for cloud computing services, the market is estimated to experience positive growth in these regions as well.
Europe cloud computing industry was forecasted to retain a value share of 22.4% on a global level. Europe has emerged as a significant player in the global cloud computing arena, witnessing substantial growth and adoption across various industries and sectors. Moreover, key market players, both regional and global, have established a strong presence in Europe, offering a wide range of cloud services and solutions to cater to diverse customer needs. This competitive market environment fosters innovation, drives technological advancements, and fuels the continuous evolution of cloud computing in the region.
The demand for scalable and cost-effective IT infrastructure solutions is fostering the cloud computing market size in the United Kingdom, providing impetus to its growth rate of 12.5% from 2023 to 2033.
features in their cloud computing services as per the changing working models and demands from users.
The giant cloud companies are also spending on establishing data storage centers at different world locations to diversify their security storage networks and speed up data transfer. This constant evaluation process adopted by cloud computing agencies has improved the performance of public cloud computing platforms over the years. It is further anticipated to increase the number of cloud computing subscribers in the coming days.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
What are the Recent Developments in the Field of Cloud Computing Industry?
The market is valued at US$ 579.5 billion in 2023.
The market is estimated to expand at a CAGR of 13.5%.
AWS, Microsoft, and IBM are the top market players.
Technological advancements to boost the market prospects.
The software-as-a-serice segment is likely to remain preferred through 2033.
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
3.6. Regulatory Landscape
3.6.1. By Key Regions
3.6.2. By Key Countries
3.7. Regional Parent Market Outlook
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Service Model
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) Analysis By Service Model, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Service Model, 2023 to 2033
5.3.1. Infrastructure as a Service (IaaS)
5.3.1.1. Primary Storage
5.3.1.2. Disaster Recovery and Backup
5.3.1.3. Archiving
5.3.1.4. Compute
5.3.2. Software as a Service (SaaS)
5.3.2.1. Customer Relationship Management (CRM)
5.3.2.2. Enterprise Resource Management (ERM)
5.3.2.3. Human Capital Management (HCM)
5.3.2.4. Content Management
5.3.2.5. Collaboration and Productive Suits
5.3.2.6. Supply Chain Management (SCM)
5.3.2.7. Business Intelligence and Analytics
5.3.2.8. PPM and Operations
5.3.2.9. Manufacturing Applications
5.3.3. Platform as a Service (PaaS)
5.3.3.1. Application Development and Platforms
5.3.3.2. Application Testing and Quality
5.3.3.3. Analytics and Reporting
5.3.3.4. Integration and Orchestration
5.3.3.5. Data Management
5.4. Y-o-Y Growth Trend Analysis By Service Model, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Service Model, 2023 to 2033
6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Deployment Model
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) Analysis By Deployment Model, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Deployment Model, 2023 to 2033
6.3.1. Public Model
6.3.2. Private Cloud
6.4. Y-o-Y Growth Trend Analysis By Deployment Model, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By Deployment Model, 2023 to 2033
7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Organization Size
7.1. Introduction / Key Findings
7.2. Historical Market Size Value (US$ Million) Analysis By Organization Size, 2018 to 2022
7.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Organization Size, 2023 to 2033
7.3.1. Small and Medium-Sized Enterprises
7.3.2. Large Enterprises
7.4. Y-o-Y Growth Trend Analysis By Organization Size, 2018 to 2022
7.5. Absolute $ Opportunity Analysis By Organization Size, 2023 to 2033
8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Vertical
8.1. Introduction / Key Findings
8.2. Historical Market Size Value (US$ Million) Analysis By Vertical, 2018 to 2022
8.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Vertical, 2023 to 2033
8.3.1. BFSI
8.3.2. Telecommunications
8.3.3. IT and ITeS
8.3.4. Government and Public Sector
8.3.5. Retail and Consumer Goods
8.3.6. Manufacturing
8.3.7. Energy and Utilities
8.3.8. Media and Entertainment
8.3.9. Healthcare and Life Sciences
8.3.10. Education
8.3.11. Travel and Hospitality
8.3.12. Others
8.4. Y-o-Y Growth Trend Analysis By Vertical, 2018 to 2022
8.5. Absolute $ Opportunity Analysis By Vertical, 2023 to 2033
9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
9.1. Introduction
9.2. Historical Market Size Value (US$ Million) Analysis By Region, 2018 to 2022
9.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2023 to 2033
9.3.1. North America
9.3.2. Latin America
9.3.3. Europe
9.3.4. South Asia
9.3.5. East Asia
9.3.6. Oceania
9.3.7. MEA
9.4. Market Attractiveness Analysis By Region
10. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
10.2.1. By Country
10.2.1.1. U.S.
10.2.1.2. Canada
10.2.2. By Service Model
10.2.3. By Deployment Model
10.2.4. By Organization Size
10.2.5. By Vertical
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Service Model
10.3.3. By Deployment Model
10.3.4. By Organization Size
10.3.5. By Vertical
10.4. Key Takeaways
11. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
11.2.1. By Country
11.2.1.1. Brazil
11.2.1.2. Mexico
11.2.1.3. Rest of Latin America
11.2.2. By Service Model
11.2.3. By Deployment Model
11.2.4. By Organization Size
11.2.5. By Vertical
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Service Model
11.3.3. By Deployment Model
11.3.4. By Organization Size
11.3.5. By Vertical
11.4. Key Takeaways
12. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
12.2.1. By Country
12.2.1.1. Germany
12.2.1.2. U.K.
12.2.1.3. France
12.2.1.4. Spain
12.2.1.5. Italy
12.2.1.6. Rest of Europe
12.2.2. By Service Model
12.2.3. By Deployment Model
12.2.4. By Organization Size
12.2.5. By Vertical
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Service Model
12.3.3. By Deployment Model
12.3.4. By Organization Size
12.3.5. By Vertical
12.4. Key Takeaways
13. South Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
13.2.1. By Country
13.2.1.1. India
13.2.1.2. Malaysia
13.2.1.3. Singapore
13.2.1.4. Thailand
13.2.1.5. Rest of South Asia
13.2.2. By Service Model
13.2.3. By Deployment Model
13.2.4. By Organization Size
13.2.5. By Vertical
13.3. Market Attractiveness Analysis
13.3.1. By Country
13.3.2. By Service Model
13.3.3. By Deployment Model
13.3.4. By Organization Size
13.3.5. By Vertical
13.4. Key Takeaways
14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
14.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
14.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
14.2.1. By Country
14.2.1.1. China
14.2.1.2. Japan
14.2.1.3. South Korea
14.2.2. By Service Model
14.2.3. By Deployment Model
14.2.4. By Organization Size
14.2.5. By Vertical
14.3. Market Attractiveness Analysis
14.3.1. By Country
14.3.2. By Service Model
14.3.3. By Deployment Model
14.3.4. By Organization Size
14.3.5. By Vertical
14.4. Key Takeaways
15. Oceania Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
15.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
15.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
15.2.1. By Country
15.2.1.1. Australia
15.2.1.2. New Zealand
15.2.2. By Service Model
15.2.3. By Deployment Model
15.2.4. By Organization Size
15.2.5. By Vertical
15.3. Market Attractiveness Analysis
15.3.1. By Country
15.3.2. By Service Model
15.3.3. By Deployment Model
15.3.4. By Organization Size
15.3.5. By Vertical
15.4. Key Takeaways
16. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
16.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
16.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
16.2.1. By Country
16.2.1.1. GCC Countries
16.2.1.2. South Africa
16.2.1.3. Israel
16.2.1.4. Rest of MEA
16.2.2. By Service Model
16.2.3. By Deployment Model
16.2.4. By Organization Size
16.2.5. By Vertical
16.3. Market Attractiveness Analysis
16.3.1. By Country
16.3.2. By Service Model
16.3.3. By Deployment Model
16.3.4. By Organization Size
16.3.5. By Vertical
16.4. Key Takeaways
17. Key Countries Market Analysis
17.1. U.S.
17.1.1. Pricing Analysis
17.1.2. Market Share Analysis, 2022
17.1.2.1. By Service Model
17.1.2.2. By Deployment Model
17.1.2.3. By Organization Size
17.1.2.4. By Vertical
17.2. Canada
17.2.1. Pricing Analysis
17.2.2. Market Share Analysis, 2022
17.2.2.1. By Service Model
17.2.2.2. By Deployment Model
17.2.2.3. By Organization Size
17.2.2.4. By Vertical
17.3. Brazil
17.3.1. Pricing Analysis
17.3.2. Market Share Analysis, 2022
17.3.2.1. By Service Model
17.3.2.2. By Deployment Model
17.3.2.3. By Organization Size
17.3.2.4. By Vertical
17.4. Mexico
17.4.1. Pricing Analysis
17.4.2. Market Share Analysis, 2022
17.4.2.1. By Service Model
17.4.2.2. By Deployment Model
17.4.2.3. By Organization Size
17.4.2.4. By Vertical
17.5. Germany
17.5.1. Pricing Analysis
17.5.2. Market Share Analysis, 2022
17.5.2.1. By Service Model
17.5.2.2. By Deployment Model
17.5.2.3. By Organization Size
17.5.2.4. By Vertical
17.6. U.K.
17.6.1. Pricing Analysis
17.6.2. Market Share Analysis, 2022
17.6.2.1. By Service Model
17.6.2.2. By Deployment Model
17.6.2.3. By Organization Size
17.6.2.4. By Vertical
17.7. France
17.7.1. Pricing Analysis
17.7.2. Market Share Analysis, 2022
17.7.2.1. By Service Model
17.7.2.2. By Deployment Model
17.7.2.3. By Organization Size
17.7.2.4. By Vertical
17.8. Spain
17.8.1. Pricing Analysis
17.8.2. Market Share Analysis, 2022
17.8.2.1. By Service Model
17.8.2.2. By Deployment Model
17.8.2.3. By Organization Size
17.8.2.4. By Vertical
17.9. Italy
17.9.1. Pricing Analysis
17.9.2. Market Share Analysis, 2022
17.9.2.1. By Service Model
17.9.2.2. By Deployment Model
17.9.2.3. By Organization Size
17.9.2.4. By Vertical
17.10. India
17.10.1. Pricing Analysis
17.10.2. Market Share Analysis, 2022
17.10.2.1. By Service Model
17.10.2.2. By Deployment Model
17.10.2.3. By Organization Size
17.10.2.4. By Vertical
17.11. Malaysia
17.11.1. Pricing Analysis
17.11.2. Market Share Analysis, 2022
17.11.2.1. By Service Model
17.11.2.2. By Deployment Model
17.11.2.3. By Organization Size
17.11.2.4. By Vertical
17.12. Singapore
17.12.1. Pricing Analysis
17.12.2. Market Share Analysis, 2022
17.12.2.1. By Service Model
17.12.2.2. By Deployment Model
17.12.2.3. By Organization Size
17.12.2.4. By Vertical
17.13. Thailand
17.13.1. Pricing Analysis
17.13.2. Market Share Analysis, 2022
17.13.2.1. By Service Model
17.13.2.2. By Deployment Model
17.13.2.3. By Organization Size
17.13.2.4. By Vertical
17.14. China
17.14.1. Pricing Analysis
17.14.2. Market Share Analysis, 2022
17.14.2.1. By Service Model
17.14.2.2. By Deployment Model
17.14.2.3. By Organization Size
17.14.2.4. By Vertical
17.15. Japan
17.15.1. Pricing Analysis
17.15.2. Market Share Analysis, 2022
17.15.2.1. By Service Model
17.15.2.2. By Deployment Model
17.15.2.3. By Organization Size
17.15.2.4. By Vertical
17.16. South Korea
17.16.1. Pricing Analysis
17.16.2. Market Share Analysis, 2022
17.16.2.1. By Service Model
17.16.2.2. By Deployment Model
17.16.2.3. By Organization Size
17.16.2.4. By Vertical
17.17. Australia
17.17.1. Pricing Analysis
17.17.2. Market Share Analysis, 2022
17.17.2.1. By Service Model
17.17.2.2. By Deployment Model
17.17.2.3. By Organization Size
17.17.2.4. By Vertical
17.18. New Zealand
17.18.1. Pricing Analysis
17.18.2. Market Share Analysis, 2022
17.18.2.1. By Service Model
17.18.2.2. By Deployment Model
17.18.2.3. By Organization Size
17.18.2.4. By Vertical
17.19. GCC Countries
17.19.1. Pricing Analysis
17.19.2. Market Share Analysis, 2022
17.19.2.1. By Service Model
17.19.2.2. By Deployment Model
17.19.2.3. By Organization Size
17.19.2.4. By Vertical
17.20. South Africa
17.20.1. Pricing Analysis
17.20.2. Market Share Analysis, 2022
17.20.2.1. By Service Model
17.20.2.2. By Deployment Model
17.20.2.3. By Organization Size
17.20.2.4. By Vertical
17.21. Israel
17.21.1. Pricing Analysis
17.21.2. Market Share Analysis, 2022
17.21.2.1. By Service Model
17.21.2.2. By Deployment Model
17.21.2.3. By Organization Size
17.21.2.4. By Vertical
18. Market Structure Analysis
18.1. Competition Dashboard
18.2. Competition Benchmarking
18.3. Market Share Analysis of Top Players
18.3.1. By Regional
18.3.2. By Service Model
18.3.3. By Deployment Model
18.3.4. By Organization Size
18.3.5. By Vertical
19. Competition Analysis
19.1. Competition Deep Dive
19.1.1. AWS
19.1.1.1. Overview
19.1.1.2. Product Portfolio
19.1.1.3. Profitability by Market Segments
19.1.1.4. Sales Footprint
19.1.1.5. Strategy Overview
19.1.1.5.1. Marketing Strategy
19.1.2. Microsoft
19.1.2.1. Overview
19.1.2.2. Product Portfolio
19.1.2.3. Profitability by Market Segments
19.1.2.4. Sales Footprint
19.1.2.5. Strategy Overview
19.1.2.5.1. Marketing Strategy
19.1.3. IBM
19.1.3.1. Overview
19.1.3.2. Product Portfolio
19.1.3.3. Profitability by Market Segments
19.1.3.4. Sales Footprint
19.1.3.5. Strategy Overview
19.1.3.5.1. Marketing Strategy
19.1.4. Salesforce
19.1.4.1. Overview
19.1.4.2. Product Portfolio
19.1.4.3. Profitability by Market Segments
19.1.4.4. Sales Footprint
19.1.4.5. Strategy Overview
19.1.4.5.1. Marketing Strategy
19.1.5. Google
19.1.5.1. Overview
19.1.5.2. Product Portfolio
19.1.5.3. Profitability by Market Segments
19.1.5.4. Sales Footprint
19.1.5.5. Strategy Overview
19.1.5.5.1. Marketing Strategy
19.1.6. Oracle
19.1.6.1. Overview
19.1.6.2. Product Portfolio
19.1.6.3. Profitability by Market Segments
19.1.6.4. Sales Footprint
19.1.6.5. Strategy Overview
19.1.6.5.1. Marketing Strategy
19.1.7. SAP
19.1.7.1. Overview
19.1.7.2. Product Portfolio
19.1.7.3. Profitability by Market Segments
19.1.7.4. Sales Footprint
19.1.7.5. Strategy Overview
19.1.7.5.1. Marketing Strategy
19.1.8. Alibaba Cloud
19.1.8.1. Overview
19.1.8.2. Product Portfolio
19.1.8.3. Profitability by Market Segments
19.1.8.4. Sales Footprint
19.1.8.5. Strategy Overview
19.1.8.5.1. Marketing Strategy
19.1.9. Adobe
19.1.9.1. Overview
19.1.9.2. Product Portfolio
19.1.9.3. Profitability by Market Segments
19.1.9.4. Sales Footprint
19.1.9.5. Strategy Overview
19.1.9.5.1. Marketing Strategy
19.1.10. Workday
19.1.10.1. Overview
19.1.10.2. Product Portfolio
19.1.10.3. Profitability by Market Segments
19.1.10.4. Sales Footprint
19.1.10.5. Strategy Overview
19.1.10.5.1. Marketing Strategy
20. Assumptions & Acronyms Used
21. Research Methodology
Explore Technology Insights
View Reports