Public Cloud Market Share, Trends, Growth Factors and Forecast 2024-2032

IMARC Group, a leading market research company, has recently releases report titled  “Public Cloud Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032″, The study provides a detailed analysis of the industry, including the global public cloud market trends, share, size, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights:

How big is the public cloud market?

The global public cloud market size reached US$ 713.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 3,934.2 Billion by 2032, exhibiting a growth rate (CAGR) of 19.9% during 2024-2032.

What is public cloud?

A third-party-managed cloud computing platform, the public cloud provides IT services and resources to users remotely. It includes virtual applications, machines, storage systems, as well as various workloads such as firewalls, load balancers, databases, and management tools, typically offered as platform-as-a-service (PaaS) or software-as-a-service (SaaS). Accessible for free or through subscription plans with flexible pricing models like pay-as-you-go (PAYG) and pay-per-usage, the public cloud allows users to tailor workloads and features to their needs, enabling the deployment and management of enterprise workloads. Additionally, it supports automated data backup and scalable disaster recovery services. As a result, the public cloud is widely used across industries such as BFSI, retail, manufacturing, energy, healthcare, and more.

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What are the growth prospects and trends in the public cloud industry?

The primary catalyst driving the expansion of the public cloud market is the escalating digital transformation within businesses. This transformation seeks to remain abreast of the latest technological advancements, cater to emerging needs, and optimize operational efficiency. Moreover, the market experiences additional momentum from the increasing favorability of these services in delegating routine tasks to technology and fostering collaboration among teams and departments. Furthermore, the burgeoning adoption of Software as a Service (SaaS), owing to its simplicity, enhanced connectivity, and bolstered security, is also a significant contributor to the global market's growth. Additionally, the incorporation of cutting-edge technologies such as artificial intelligence (AI), the internet of things (IoT), and machine learning (ML) by enterprises to engage with potential customers in real-time and streamline various operations represents another pivotal growth driver. Finally, the extensive utilization of big data to refine decision-making processes, elevate customer service standards, and craft personalized marketing campaigns is anticipated to fortify the public cloud market in the foreseeable future.

Public Cloud Market 2024-2032 Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:

The competitive landscape of the public cloud market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

• Alibaba Group Holding Limited
• Amazon Web Services, Inc.
• Cisco Systems, Inc.
• Google LLC (Alphabet Inc.)
• Hewlett Packard Enterprise Development LP
• International Business Machines Corporation
• Microsoft Corporation
• Oracle Corporation
• Rackspace Technology Inc.

Key Market Segmentation:

The report has segmented the public cloud market on the basis of breakup by service, enterprise size, end-use and region.

Breakup by Service:

• Infrastructure as a Service (IaaS)
• Platform as a Service (PaaS)
• Software as a Service (SaaS)

Breakup by Enterprise Size:

• Large Enterprise
• Small and Medium-sized Enterprises

Breakup by End Use:

• BFSI
• IT and Telecom
• Retail and Consumer Goods
• Manufacturing
• Energy and Utilities
• Healthcare
• Media and Entertainment
• Government and Public Sector
• Others

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Turkey, South Africa, Others)

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