Cloud Engineering Market size was valued at USD 371.17 Billion in 2024 and is projected to reach USD 1066.24 Billion by 2031, growing at a CAGR of 14.11% from 2024 to 2031.

Cloud Engineering Market Drivers

Rising Adoption of Cloud Computing: As businesses increasingly migrate to cloud-based infrastructures to enhance scalability, flexibility, and cost-efficiency, the demand for cloud engineering services has surged. These services help organizations design, deploy, and manage cloud environments effectively, driving market growth.

Digital Transformation Initiatives: Enterprises across various industries are undergoing digital transformation, leveraging cloud technologies to modernize their IT infrastructure, improve operational efficiency, and accelerate innovation. Cloud engineering is critical to these initiatives, as it provides the expertise needed to implement and optimize cloud solutions.

Growing Need for Cost Optimization: Companies are increasingly focused on optimizing their IT budgets. Cloud engineering services enable organizations to reduce capital expenditure by shifting to cloud models and improving the efficiency of their cloud deployments. This focus on cost optimization is a significant driver of the market.

Cloud Computing Market Growth | Industry Analysis, Size & Forecast Report

Dataset updated: Jun 27, 2024

Dataset authored and provided by: Mordor Intelligence

License: https://www.mordorintelligence.com/privacy-policy

Time period covered: 2019 - 2029

Area covered: Global

Variables measured: CAGR, Market size, Market share analysis, Global trends, Industry forecast

Description: The Cloud Computing Market size is estimated at USD 0.68 trillion in 2024, and is expected to reach USD 1.44 trillion by 2029, growing at a CAGR of 16.40% during the forecast period (2024-2029).

Report Attribute

Quantitative Units: Revenue in USD Billion, Volumes in Units, Pricing in USD

Regions and Countries Covered:

Industry Segmentation Covered:

By Cloud Computing: IaaS, SaaS, PaaS

By End-User: IT and Telecom, BFSI, Retail and Consumer Goods, Manufacturing, Healthcare, Media and Entertainment

Market Players Covered: Amazon Web Services, Google LLC, Microsoft Corporation, Alibaba Cloud, and Salesforce

According to Cognitive Market Research, the global cloud engineering market size will be USD 15.23 billion in 2024 and will diversify at a compound annual growth rate (CAGR) of 23.5% from 2024 to 2031. Market Dynamics of Cloud Engineering Market Key Drivers for Cloud Engineering Market Rise of Innovative Technological Advancements - The emergence of new technologies significantly propels the cloud engineering market. Innovations such as machine learning, artificial intelligence, and edge computing enhance cloud capabilities, offering more efficient data processing and analysis. These technologies enable automation and real-time insights, driving demand for sophisticated cloud solutions. Additionally, advancements in containerization and serverless architectures simplify application deployment and management, further boosting market growth. Consequently, businesses increasingly adopt cloud engineering to leverage these cutting-edge technologies for improved performance and competitive advantage. Demand for remote access to applications and data drives adoption of cloud-based collaboration tools and platforms. Key Restraints for Cloud Engineering Market Legacy infrastructure complexities hinder seamless migration to cloud environments, leading to integration challenges. Performance constraints may occur due to latency issues, affecting real-time applications and user experience.. Introduction of the Cloud Engineering Market Cloud engineering encompasses the design, development, and maintenance of cloud-based infrastructure and services. It involves deploying applications, managing data, and optimizing resources on cloud platforms to meet organizational objectives efficiently. Several market drivers propel the growth of cloud engineering. These include the imperative of digital transformation, where businesses migrate to cloud environments to enhance agility and competitiveness. Scalability demands, driven by exponential data growth and fluctuating workloads, push organizations toward scalable cloud solutions. Additionally, cost efficiency plays a significant role, with pay-as-you-go models reducing capital expenditures. The rise of remote work necessitates cloud-based collaboration tools, while the integration of AI and analytics fuels the demand for cloud resources for data processing. Moreover, heightened cybersecurity concerns drive the adoption of cloud-native security solutions to protect digital assets. These drivers shape the landscape of cloud engineering, influencing the strategies and investments of businesses across various industries.

The Asia-Pacific Cloud Computing Market Report is Segmented by Type (Public Cloud (IaaS, Paas, and SaaS), Private Cloud, and Hybrid Cloud), by Organization Size (SMEs, Large Enterprises), by End-User Industries (Manufacturing, Education. Retail, Transportation and Logistics, Healthcare, BFSI, Telecom and IT, Government and Public Sector, Other End-User Industries), by Country (China, Japan, India, South Korea, Rest of Asia-Pacific). The Market Sizes and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

The Cloud Computing Market size is recorded to be USD 766 billion in 2024 and is expected to reach USD 3,500 billion by 2035, at a CAGR of 14.623%.

The Brazil cloud computing market size reached USD 15.13 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 86.03 Billion by 2033, exhibiting a growth rate (CAGR) of 19.60% during 2025-2033. The market is experiencing significant growth, driven by the widespread adoption of cloud computing across sectors including finance, healthcare, and retail. Companies leverage cloud solutions for scalability, digital transformation, and enhanced data management. Government support and regulatory frameworks are also contributing positively to the Brazil cloud computing market growth across the country.

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2025-2033. Our report has categorized the market based on service, deployment, workload, enterprise size, and end-use.

Over the last two observations, the revenue is forecast to significantly increase in all segments. The trend observed from 2018 to 2029 remains consistent throughout the entire forecast period. There is a continuous increase in the revenue across all segments. Notably, the Software as a Service segment achieves the highest value of 176.96 billion euro at 2029. Find other insights concerning similar markets and segments, such as a comparison of revenue growth in Germany and a comparison of revenue growth in Italy. The Statista Market Insights cover a broad range of additional markets.

The ANZ (Australia and New Zealand) cloud computing market exhibits robust growth, mirroring the global trend. While precise ANZ-specific data isn't provided, extrapolating from the global CAGR of 22.42% and considering the region's strong digital adoption and economic development, we can project significant expansion. The $8.81 billion global market size in the specified year (assuming this is the 2025 value) suggests a substantial ANZ market share, likely in the hundreds of millions. Drivers such as increasing digital transformation initiatives by enterprises (particularly large enterprises and SMEs in sectors like BFSI, telecommunications, and government), rising demand for enhanced data security and scalability, and the increasing adoption of hybrid and multi-cloud strategies are key factors propelling this growth. The market is segmented by cloud deployment models (public, private, hybrid), organizational size, and industry verticals, with public cloud services (IaaS, PaaS, SaaS) experiencing the most rapid growth. Competitive dynamics are intense, with global giants like Microsoft, AWS, Google, and IBM alongside significant regional players vying for market share. While challenges exist such as data sovereignty concerns and cybersecurity risks, the overall trajectory points to sustained expansion in the coming years, fueled by ongoing technological advancements and evolving business needs. Growth is expected to be particularly strong in areas such as artificial intelligence, machine learning, and big data analytics within the cloud environment. The ANZ cloud computing market's growth trajectory is expected to remain positive throughout the forecast period (2025-2033). Sustained investment in digital infrastructure, government initiatives promoting cloud adoption, and the increasing maturity of cloud-native applications will contribute to this expansion. However, potential restraints include the need for skilled professionals, the complexities of managing multi-cloud environments, and the need for robust data privacy and security frameworks. Nonetheless, the long-term outlook remains optimistic, with significant opportunities for cloud providers and businesses alike to leverage the power of cloud technologies to achieve business objectives. We anticipate continuous innovation within cloud services, leading to further market segmentation and specialization in niche areas. This report provides a comprehensive analysis of the ANZ Cloud Computing Market, offering invaluable insights for businesses operating within or considering entry into this dynamic sector. Covering the period from 2019 to 2033, with a focus on 2025, this study meticulously examines market size, growth drivers, challenges, and future trends, enabling informed strategic decision-making. The report leverages a robust methodology, incorporating extensive primary and secondary research to deliver accurate and actionable intelligence. Recent developments include: August 2024: the TEAM Cloud platform announced that it would provide more than 100 Oracle Cloud Infrastructure (OCI) services. These services are designed to help New Zealand organizations comply with regulatory and data sovereignty mandates, ensuring sensitive data stays within the nation's borders. Consequently, this guarantees that all data is securely housed and safeguarded within New Zealand, bolstering both data residency and digital sovereignty.July 2024: Microsoft Corporation partnered with CCL, establishing Microsoft's first large-scale cloud in the upcoming New Zealand cloud region. As a result of this collaboration, CCL is expected to lead the large-scale migration of customers to Microsoft's North Cloud region in New Zealand.January 2024: Macquarie Cloud Services, in collaboration with Microsoft and Dell Technologies, unveiled "Macquarie Flex." This newly launched hybrid solution would use the power of Microsoft Azure Stack HCI (Hybrid Cloud Infrastructure) and Dell Technologies' APEX Cloud Platform for Microsoft Azure. The company also aims to offer workload flexibility, a unified management interface, a consistent user experience, round-the-clock mission-critical support, and continuous compliance across public, private, and hybrid cloud environments.. Key drivers for this market are: Growth of Cloud-Native Technologies, Rising Enterprise Demand for Cloud Services. Potential restraints include: Growth of Cloud-Native Technologies, Rising Enterprise Demand for Cloud Services. Notable trends are: Growing Demand of Hybrid Cloud in Australia and New Zealand.

In 2023, the worldwide cloud computing market achieved a valuation of US$ 579.58 billion, and it is anticipated to expand at a steady pace of 13.5% between 2023 and 2033, ultimately reaching an impressive value of US$ 2,062.26 billion by 2033.

What is the Performance of the Cloud Computing Industry in Different Geographical Regions?

The Cloud Computing Market is projected to grow at 15.5% CAGR, reaching $1481.2 Billion by 2029. Where is the industry heading next? Get the sample report now!

Get detailed insights into the current valuation of Cloud Computing market size, including growth analysis, current market status and future market projections.

The Report Covers Germany Cloud Computing Companies and the Market is Segmented by Type (Public Cloud, Private Cloud, Hybrid Cloud), Organization Type (SMEs, Large Enterprises), End-User Industries (Manufacturing, Education, Retail, Transportation, and Logistics, Healthcare, BFSI, Telecom, and IT, Government and Public Sector). The Market Sizes and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

The worldwide public cloud computing market continues to grow and is expected to reach an estimated 723.42 billion U.S. dollars in 2025. This encompasses business processes, platform, infrastructure, software, management, security, and advertising services delivered by public cloud services. A public cloud is a cloud deployment model that offers computing services over the internet. The physical hardware of this cloud model is shared by multiple companies. The services offered to customers include storage, bandwidth, or CPU cycles. Public clouds are cost-effective Among the many benefits of a public cloud is that services are offered to the customer through a pay-as-you-go model. This means that no upfront investments must be made, which otherwise lead to running costs for maintaining on-premise hardware and application infrastructure. Instead, the cloud service provider ensures proper management and maintenance of the system and the customer only pays for services consumed. AWS, Azure, and Google are dominating the market Key companies offering public cloud platforms to customers are Amazon Web Services, Microsoft Azure, and Google Cloud. Their preeminence on the market is demonstrated by organizations’ plans to continually migrate their data to the cloud and use cloud applications for their business operations on a global scale.

The global healthcare cloud computing market size reached USD 51.0 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 156.4 Billion by 2033, exhibiting a growth rate (CAGR) of 12.61% during 2025-2033. The increasing prevalence of various health conditions, rising need for improved patient care, streamlined operations, and enhanced data-driven decision-making, and the introduction of mobile health (mHealth) applications are some of the major factors propelling the market.

IMARC Group provides an analysis of the key trends in each segment of the global healthcare cloud computing market report, along with forecasts at the global, regional, and country levels for 2025-2033. Our report has categorized the market based on service model, cloud deployment model, application, and end user.

The Brazil Cloud Computing Market Report is Segmented by Type (Public Cloud [IaaS, Paas, and Saas], Private Cloud, Hybrid Cloud), Organization Size (SMEs, Large Enterprise), by End-User Industries (Manufacturing, Education, Retail, Transportation and Logistics, Healthcare, BFSI, Telecom and IT, Government and Public Sector, Other End-User Industries (Utilities, Media & Entertainment, Etc. )). The Market Sizes and Forecasts are Provided in Terms of Value (USD) for all the Abovementioned Segments.

The global cloud computing market size is expected to reach USD 2283.40 billion by 2032 according to a new study by Polaris Market Research.

UAE Cloud Computing Market Report is Segmented by Type (Public Cloud [IaaS, Paas, Saas], Private Cloud, Hybrid Cloud ), by Organization Size ( SMEs, Large Enterprises), by End-User Industries ( Manufacturing, Education, Retail, Transportation and Logistics, Healthcare, BFSI, Telecom and IT, Government and Public Sector. The Market Sizes and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

The statistic shows the size of the hosting and cloud computing market from 2010 to 2020. In 2018, the market for cloud computing and hosting services is predicted to be worth 118 billion U.S. dollars worldwide.

The size of the cloud computing market in China reached nearly 838 billion yuan in 2024. According to the forecast, the industry size was expected to exceed one trillion yuan by 2025. Tech giants, such as Tencent, Baidu, and Alibaba, are also the market leaders in the cloud computing segment.

According to Cognitive Market Research, the global hybrid cloud computing market size is USD 98142.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 18.00% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 39256.88 million in 2024 and will grow at a compound annual growth rate (CAGR) of 16.2% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 29442.66 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 22572.71 million in 2024 and will grow at a compound annual growth rate (CAGR) of 20.0% from 2024 to 2031.
Latin America had a market share for more than 5% of the global revenue with a market size of USD 4907.11 million in 2024 and will grow at a compound annual growth rate (CAGR) of 17.4% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 1962.84 million in 2024 and will grow at a compound annual growth rate (CAGR) of 17.7% from 2024 to 2031.
The solution held the highest hybrid cloud computing market revenue share in 2024.

Market Dynamics of Hybrid cloud computing Market

Key Drivers for Hybrid cloud computing Market

Rising Scalability and Flexibility to increase the demand globally

The rising demand for scalability and flexibility in IT infrastructure is driving the global adoption of hybrid cloud computing. Organizations are increasingly seeking solutions that can dynamically adjust to fluctuating workloads and business needs. Hybrid cloud environments provide the perfect blend of private and public cloud capabilities, enabling businesses to scale resources up or down efficiently. This adaptability is crucial for managing peak demand periods, optimizing costs, and ensuring continuous service delivery. Additionally, hybrid cloud offers the flexibility to run workloads in the most suitable environment, whether for performance, security, or compliance reasons. As businesses continue to prioritize agility and cost-effectiveness, the ability of hybrid cloud to seamlessly integrate and manage diverse IT resources will further fuel its global demand.

Increasing awareness about Security and Compliance to propel market growth

Increasing awareness about security and compliance is significantly propelling the growth of the hybrid cloud computing market. Businesses today face stringent regulatory requirements and heightened cybersecurity threats, making data protection and regulatory adherence paramount. Hybrid cloud solutions offer robust security features and compliance tools, enabling organizations to safeguard sensitive information while meeting diverse regulatory standards. This heightened focus on security and compliance ensures that businesses can leverage the scalability and cost-efficiency of public cloud services without compromising on data integrity. Additionally, hybrid cloud environments provide the flexibility to store critical data on private clouds, further enhancing security measures. As awareness of these benefits spreads, more organizations are adopting hybrid cloud solutions, driving substantial market growth and fostering a secure, compliant digital landscape.

Restraint Factor for the Hybrid cloud computing Market

Complexity in Integration to Limit the Sales

The complexity in integrating hybrid cloud environments poses a significant challenge that can limit sales in this market. Merging on-premises infrastructure with public and private clouds requires sophisticated orchestration and seamless interoperability, which can be difficult to achieve. This complexity often necessitates specialized skills and substantial investment in time and resources, deterring some organizations from adopting hybrid cloud solutions. Additionally, the risk of integration failures and subsequent disruptions to business operations can create hesitation among potential customers. Without a clear strategy and robust tools to manage this complexity, organizations may struggle to realize the full benefits of hybrid cloud, leading to slower adoption rates. Consequently, vendors must address these integration challenges to unlock the market’s full potential and drive broader adoption.

Impact of Covid-19 on the Hybrid cloud computing Market

The COVID-19 pandemic has pos...