Market Highlights

Cloud Computing refers to networking, storage, servers, and computing services offered through data centers and therefore the internet. It are often leveraged by small and medium sized enterprises to fuel innovation without investments on hardware and software. the worldwide cloud computing market report by marketing research Future (MRFR) encompasses drivers, challenges, trends, and restraints for the industry during the forecast period (2020-2027). The COVID-19 outbreak and its effects on the industry structure a serious a part of the report.

Market Scope

The global Cloud Computing Market Share is about to exhibit 19.4% CAGR over the forecast period. it's attributed to flexibility and scalability accorded to individuals and organizations due to its implementation. Increasing maintenance costs of hosting, workforce charges, and shift towards digital channels can drive market growth. Use of cloud computing by enterprises for curbing operational expenditure can bode well for the market.

The COVID-19 outbreak has accelerated the shift to digital models and propelled the market demand. Government regulations and increased spending on cloud computing can favor the market. Rollout of novel subscription programs by cloud service providers for smooth onboarding of clients including transparency and pricing in their business models can bode well for the cloud computing market.

But rise in cyberattacks and compliance to data security and privacy regulations can restrict market growth.

Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/1013

COVID-19 Impact on the Cloud Computing Market

Cloud computing has become very important in the modern era, from games to software used by institutions and offices. E-commerce is gaining a lot of popularity in the sense of a lockdown to sell food and other important supplies. Online retailers are seeing an upsurge in transactions as they use cloud hosting tools that are flexible and do not disrupt business. Cloud computing is on the rise during the pandemic since it increases the ability of businesses to review relevant data in order to ensure an improved response. Cloud computing also provides major efficiency improvements for types of work that are not suitable for telecommuting. Cloud computing improves the efficiency of operations such as online marketing, back-office work, editing, web design, engineering, and other remote work. TeamViewer, ClickMeeting, Skype, and Slack are constantly dependent on the cloud for uninterrupted and trouble-free operations.

The lockdown has had a strong impact on the cloud computing market due to employees working remotely and businesses are using robust collaborative tools to run operations smoothly. At such times, when food and medicines are of the utmost importance, cloud computing has come to the rescue as it supports telemedicine. Remotely, access to doctors and other health professionals has become increasingly important.

The need for cloud computing has become more evident in this outbreak, particularly since the national lockdown. Businesses cannot work without cloud solutions, and the integration of such solutions has ensured the stability of web-based platforms and services.

Market Dynamics

Drivers

Rising return on investment with lower infrastructure and storage costs

Enterprises are concerned about the initial deployment and maintenance costs of hosting data on-premises. In addition, staff costs and downtime issues are a few additional challenges for companies. Current competition and global economic situations have intensified the adoption of cost-effective measures to restructure business models. Growing market shifts towards digital transformation and accelerating customer experience are a few more factors contributing to the adoption of cloud computing services that eventually minimize enterprise costs. In addition, the cloud provides the advantage of a pay-as-you-go model that allows businesses to pay for their use of cloud services, resulting in reduced costs.

Restraints

Need to meet regulatory and compliance policy

In recent years, the need to meet regulatory and compliance have gradually grown due to changing market needs, rising data breaches, and cyber-attacks, and increasing data security issues. In addition, companies must aim to thrive in the market by taking steps to meet regulatory needs and prevent financial penalties, prevent customer and revenue losses and avoid exposure to legal action.

Market Segmentation

Cloud Computing Industry has been segregated on the basis of Service Model, Deployment Model, Organization Size, and Vertical.

By service model, the SaaS segment to attain the highest share

The SaaS segment of cloud computing market held the largest market share of 58% in 2018, and it is expected to exhibit a high CAGR during the forecast period.

By deployment mode, the public cloud segment to display the highest share

The public cloud segment of cloud computing market captured the largest market share in 2018, and it is expected to post a CAGR of 20% during the forecast period.

By organization size, the large enterprise segment to lead the market

The large enterprise segment of cloud computing market held the larger market share in 2018, and it is expected to record a CAGR of 19% during the forecast period.

By vertical, the BFSI segment to post the highest CAGR

The BFSI segment of cloud computing market earned the largest market share in 2018, with a market value of USD 24.8 billion, it is predicted to register a CAGR of 18.6% during the forecast period.

Browse Complete Report @ https://www.marketresearchfuture.com/reports/cloud-computing-market...

Cloud Computing Market Research Report: By Service Model (SaaS, PaaS IaaS), By Deployment (Public, Private and Hybrid), By Organization Size (Large Enterprises, Small & Medium Enterprises), By Vertical (BFSI, IT & Telecommunication, Retail and Consumer Goods, Manufacturing, Healthcare & Life Sciences, Government & Public Sector, Media & Entertainment, Energy & Utility and others) - Forecast till 2027

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

Contact:

Market Research Future (Part of Wantstats Research and Media Private Limited)

99 Hudson Street,

5Th Floor New York,

NY 10013

United States of America

+1 628 258 0071 (US)

+44 2035 002 764 (UK)

Email: [email protected]

Website: https://www.marketresearchfuture.com