The COVID-19 pandemic brought with it the worldwide phenomenon of working from home and remote working. People started connecting with their workplaces from all over the world, and this remote work concept rapidly increased the demand for cloud services worldwide. The global cloud computing market underwent solid double-digit growth in the last few years. This robust growth is expected to continue in the coming years as well.
The global cloud computing industry had industry revenues worth over $241 billion at the end of 2020, and it is expected that the industry will continue to grow strongly to have a value of nearly $445 billion by the end of the forecast period in 2025.
The United States has the world's biggest cloud computing market, followed by Europe and the Asia Pacific. The global market is highly competitive, and there are just a handful of players who dominate the industry. The rapid growth of the Internet of Things (IoT) has been a leading contributor to the development of the cloud computing sector, with the SaaS segment being the most popular cloud model in the industry.
With the European Union's plans to invest nearly $2.5 billion in a European High Impact Project, cloud computing is poised to attract robust investment, and the market will continue to witness tremendous growth in the coming years.
Aruvian Research brings this highly in-depth market research report on the Global Market for Cloud Computing that provides all the statistics you need to know about this lucrative market. The report contains the following data:
- An industry definition and introduction to cloud computing.
- An analysis of the global market for cloud computing with industry statistics, market value, industry segmentation, a look at the major competition in the sector, and an industry forecast. Data included in the report range from 2016 to 2025.
- A comprehensive Michael Porter’s Five Forces Strategy Analysis is undertaken on the global cloud computing market, which looks at the competitive forces affecting the market through the bargaining power of buyers and suppliers, competitive rivalry in the market, and the threat of new entrants and substitutes.
- The major markets for cloud computing are analyzed through industry statistics or overview, market value, industry segmentation, competition in the market, and industry forecast. Markets analyzed in the report include:
- United Kingdom
- United States
- A comprehensive analysis of the major industry players such as Amazon Web Service, Alibaba Group, Google, Microsoft, IBM, and many others. The market leaders are analyzed through a company snapshot, an in-depth analysis of their business segments, a financial analysis, and a SWOT analysis.
Global Market For Cloud Computing
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