The public cloud market is set to exceed USD 1875.2 billion by 2030, fueled by the rising demand for advanced analytics and artificial intelligence/machine learning (AI/ML). Public cloud services play a vital role in supporting various digital transformation initiatives, such as application modernization, data analytics, and IoT deployments.
In 2022, the public cloud market was valued at USD 523.2 billion, with expectations to grow at a CAGR of 17.3% over the forecast period of 2023-2030. Leading providers like Amazon Web Services, Microsoft Azure, and Google Cloud Platform are constantly innovating to meet the evolving needs of businesses, offering a range of services across computing, storage, networking, and more.
The COVID-19 pandemic has significantly impacted the global public cloud market, causing disruptions to demand and supply chains. As businesses navigate through the challenges posed by the health crisis, the market is expected to rebound in the post-COVID era.
Key companies in the market include Alibaba Group Holding, Amazon.com, Adobe, Google, IBM, Microsoft, Oracle, Salesforce.com, SAP, and Workday. These players are driving innovation and growth in the public cloud sector.
The market is segmented based on organization size (large enterprises, small and medium-sized enterprises), service model (infrastructure as a service, platform as a service, software as a service), and end-user industries (BFSI, healthcare, retail, manufacturing, government, IT, telecom, and others).
With a focus on value and volume at global, sectoral, and regional levels, the public cloud market research provides insights into market dynamics, revenue growth, and industry trends. This comprehensive analysis aims to guide businesses in understanding growth opportunities and making informed decisions in the evolving landscape of the public cloud market.
