Cloud Computing Market Will Surpass USD 1025.9 Billion by 2026
The global cloud computing market in 2019 was approximately USD 321 Billion. The market is expected to grow at a CAGR of 18% and is anticipated to reach around USD 1025.9 Billion by 2026.
Cloud computing is an information technology service delivery model where computing resources and software tools are offered by third-party service providers through the Internet network. Cloud computing provides various advantages over on-site hardware infrastructure, such as fast installation, scalability, low cost, mobile support, and lower network maintenance.
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The cloud computing market research report delivers an acute valuation and taxonomy of the cloud computing industry by practically splitting the market on the basis of different types, applications, and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026.
Key Segments: Cloud Computing Market
The cloud computing market is segmented based on the service model, deployment model, organization size, and vertical. On the basis of service model segmentation, the market is classified into infrastructure as a service (IaaS), platform as a service (PaaS), and software as a service (SaaS). In terms of deployment model segmentation, the market is bifurcated into public, private, and hybrid. On the basis of organization size, the market has been segmented into large enterprises, small and medium-sized enterprises. The vertical segment has been further bifurcated into banking, financial services, and insurance (BFSI), IT & telecom, government & public sector, retail, healthcare, energy and utilities, media and entertainment, and manufacturing amongst others.
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Major Market Players
Some of the essential players operating in the cloud computing market, but not restricted to include Amazon.com Inc., Microsoft Corporation, Alphabet Inc., Oracle Corporation, Cisco Systems, Inc., Salesforce.com, Inc., SAP SE, VMware, Inc., IBM, Rackspace Inc., Adobe Systems Inc., SAS Institute Inc., Dell EMC Corp., and TIBCO Software Inc. amongst others.