Is The Public Cloud Market On Shaky Foundations? Here’s What Experts Say

Pune, India, March 2021 /MRFR Press Release/- Market Research Future published a half cooked research report on Public Cloud Service Market.

Public Cloud Service Market Highlights

The public cloud market is set to grow at a CAGR of 22.78% during the forecast period 2017 to 2023. As per the market research report, the market will hit US$1,322.8 billion in terms of valuation by the end of 2023. The market growth will be driven by the penetration of smart phones. Based on the research report, the demand for public cloud services will accelerate growth in the market till 2023. Although data security threats will have a negative impact on the global public cloud market’s growth during this period. The compromise of private and confidential data is predicted to be a key challenge which could become a strong threat from 2017 to 2023 to companies. The market report published by expert analysts includes primary and secondary data and suggests that cloud computing, organization size, service, and industry segments are anticipated to witness tremendous growth till 2023. Factors such as the encouragement by nations for embracing digital services will become key growth drivers during the forecast period and the increasing demand from various industry verticals is also said to be supporting the market globally, however, the growth projected for the forecast period could be affected by the lack of effective communication which could negatively affect activities taking place across the market. The lack of developed IT infrastructure is another challenge the market could face till 2023.

Market Segmentation

The public cloud market is segregated into different market segments based on cloud computing, organization size, service, and industry. For a comprehensive analysis of the market, the cloud computing, organization size, service, and industry segments are further split into smaller segments. The cloud computing segment is categorized into cloud billing, cloud communication platform, cloud access security, cloud high-performance computing  and  cloud infrastructure. Furthermore, based on organization size, the global market is also segmented into large  enterprises  and small &  medium  size  enterprises. Based on the market segmentation analysis, the report covers market forecasts. On the basis of service, the global market is split into sub segments including SaaS, PaaS  andIaaS. The industry segment is categorized into manufacturing, BFSI, healthcare, retail, government, aerospace  &  defence, and IT &  telecommunication.

The reliance on smart devices for commercial and private purposes will support the market growth from 2017 to 2023. As per the market research report, the global market for public cloud is anticipated to grow at a healthy rate across all the cloud computing, organization size, service, and industry segments. However, the presence of active threats such as the low demand from developing countries could hamper the market growth. Business activities across information technology have also been examined and studied by information technology industry’s experienced analysts. The public cloud market research report covers findings with predictions and forecasts till 2023.

Access Report Details @ https://www.marketresearchfuture.com/reports/public-cloud-market-2291

Regional Overview

The public cloud market, with its product and service related segments, is spread across the world. Information technology based regional markets are also covered in the market research report. The regional markets are Asia-Pacific, Europe, North America, the Middle East and Africa and the rest of the world. The presence of many untapped opportunities across the market is anticipated to be a major factor for growth across the information technology space during the forecast period. The regional market in North America is classified as the United States, Mexico, Canada, and others. The information technology sector based regional markets in Europe are split into Italy, Germany, France, and the United Kingdom. In the Asia Pacific region, the market is segmented into China, India, Japan, and others. information technology based businesses in these regional markets are anticipated to grow due to the growing demand for innovative service solutions during the forecast period 2017 to 2023. Although the market’s growth could be affected by the increasing preferences for cheaper alternative solutions. The analysts have also segmented markets of the Middle East, Africa, and the rest of the world.

Competitive Landscape

Information technology based organizations are profiled in the market research report. The public cloud market along with companies and segments has been studied. The analysis of information technology based business is also done to identify key challenges and strengths of these companies. The global public cloud market research report covers SWOT analysis, Porter’s Five Force analysis of major information technology related organizations. The strategy and other key details of these companies for the forecast period 2017 to 2023 are covered in the report. The increasing preference of consumers towards cloud is anticipated to support the market growth as the market is set to grow at a CAGR of 22.78% and reach a value of US$1,322.8 billion by 2023.

Industry News 

Nordcloud, a European leader in public cloud, software transition, and systems integration, has agreed to be acquired by IBM. Today's announcement strengthens IBM's cloud migration and transformation capabilities, which are an important part of the company's hybrid cloud platform expansion strategy. By 2024, leading IT industry experts predict that the demand for cloud professional services will be worth more than $200 billion. IBM's transparent and versatile approach to consulting, constructing, transferring, and handling clients' hybrid environments enables companies to choose from a range of vendors to suit their market and IT requirements.