In the fourth quarter of 2024, the most popular vendor in the cloud infrastructure services market, Amazon Web Services (AWS), controlled 33 percent of the entire market. Microsoft Azure takes second place with 20 percent market share, followed by Google Cloud with 10 percent market share. Together, these three cloud vendors account for 63 percent of total spend in the fourth quarter of 2024. Organizations use cloud services from these vendors for machine learning, data analytics, cloud native development, application migration, and other services. AWS Services Amazon Web Services is used by many organizations because it offers a wide variety of services and products to its customers that improve business agility while being secure and reliable. One of AWS’s most used services is Amazon EC2, which lets customers create virtual machines for their strategic projects while spending less time on maintaining servers. Another important service is Amazon Simple Storage Service (S3), which offers a secure file storage service. In addition, Amazon also offers security, website infrastructure management, and identity and access management solutions. Cloud infrastructure services Vendors offering cloud services to a global customer base do so through different types of cloud computing, which include infrastructure as a service (IaaS), platform as a service (PaaS), and software as a service (SaaS). Further, there are different cloud computing deployment models available for customers, namely private cloud and public cloud, as well as community cloud and hybrid cloud. A cloud deployment model is defined based on the location where the deployment resides, and who has access to and control over the infrastructure.

In the fourth quarter of 2024, Amazon Web Services (AWS), held around 30 percent market share of the cloud infrastructure services market. AWS's share of the cloud infrastructure services market has remained steady at around a third of the total market since at least 2017. Microsoft Azure and Google Cloud take 21 percent and 12 percent market share, respectively. The next twenty cloud providers held a combined 37 percent of market share. The main types of cloud computing Infrastructure as a service (IaaS) or cloud infrastructure services form one of the three core service models of the

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

Study Period	2019-2029
Market Size (2024)	USD 0.68 Trillion
Market Size (2029)	USD 1.44 Trillion
CAGR (2024 - 2029)	16.40%
Fastest Growing Market	Asia Pacific
Largest Market	North America

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

Regions and Countries Covered:

North America	United States, Canada
Europe	Germany, United Kingdom, Italy, France, Russia, and Rest of Europe
Asia-Pacific	India, China, Japan, South Korea, and Rest of Asia-Pacific
Latin America	Brazil, Mexico, Argentina, and Rest of Latin America
Middle East and Africa	Brazil, Mexico, Argentina, and the Rest of Middle East and Africa

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

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 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.

Report Attribute	Key Statistics
Base Year	2024
Forecast Years	2025-2033
Historical Years	2019-2024
Market Size in 2024	USD 15.13 Billion
Market Forecast in 2033	USD 86.03 Billion
Market Growth Rate (2025-2033)	19.60%

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.

In 2024, Amazon Web Services led as the top vendor in the cloud applications market share with 31 percent. Microsoft Azure and Google Cloud Platform were close behind with 24 percent and 12 percent of the market share, respectively.

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 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.

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

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.

Attributes	Details
Cloud Computing Market Value (2023)	US$ 579.58 billion
Cloud Computing Market Value (2033)	US$ 2,062.26 billion
Cloud Computing Market Growth Rate (2023 to 2033)	13.5 %.

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

Regions	CAGR (2023 to 2033)
The United Kingdom (UK)	12.5%
China	13.7%
India	13.1%

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.

According to Cognitive Market Research, the global private cloud services market size will be USD 125421.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 30.50% 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 50168.48 million in 2024 and will grow at a compound annual growth rate (CAGR) of 28.7% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 37626.36 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 28846.88 million in 2024 and will grow at a compound annual growth rate (CAGR) of 32.5% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 6271.06 million in 2024 and will grow at a compound annual growth rate (CAGR) of 29.9% 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 2508.42 million in 2024 and will grow at a compound annual growth rate (CAGR) of 30.2% from 2024 to 2031.
The large enterprises category is the fastest growing segment of the private cloud services industry

Market Dynamics of Private Cloud Services Market

Key Drivers for Private Cloud Services Market

Increasing Emphasis on Compliance with Regulations to Boost Market Growth

The private cloud services market has experienced growth because of the growing focus on privacy and adherence to regulations. Businesses are forced to make sure that their information stays inside certain regional bounds and is governed by regional protection laws as privacy legislation becomes stricter across numerous industries and geographies. Because they allow organizations to maintain authority over the storage and accessibility of their information, private cloud services are a practical solution that also helps them comply with legal obligations. This advantage not only promotes the use of private cloud services by enterprises but also increases trust in the dependability and security of information management practices, which drives the market's overall expansion. For instance, Hewlett Packard Enterprise (HPE) is a key leader in the private cloud market. The business prides itself on its ability to provide customized private cloud solutions that combine infrastructure tools and cloud apps to meet the specific requirements of each customer. After that, businesses can incorporate this platform into a multi-cloud or hybrid platform.

Rising Need for Storage of Data to Drive Market Growth

The private cloud services market has witnessed steady growth due to the increasing requirement for data storage. File storage is becoming more and more necessary as more people choose to save and share their photos, documents, collections, and other belongings. All kinds of enterprises can now use inexpensive, flexible tools, facilities, and storage thanks to cloud computing. Private cloud services provide ways to save costs while enhancing the proficiency and flexibility of information technology. Statistics have applications in both the personal and professional spheres. The need for data storage in the cloud has increased. As a result, a lot of cloud storage companies provide limitless data storage. The expanded capacity, instant accessibility, and archive backup capabilities of consumer computers and handheld gadgets are driving the need for private cloud computing.

Restraint Factor for the Private Cloud Services Market

High Charges & Upfront Expenses, will Limit Market Growth

One factor impeding the expansion of the private cloud services industry is the upfront fees and deployment expenses. Private clouds provide more customization and protection, but the infrastructure setup and migration of legacy applications can be costly. These upfront fees may be exorbitant for small to mid-sized organizations, particularly those with tight budgets. Furthermore, the continuous costs for upkeep and administration may be high. The market's overall expansion may be slowed down if some firms are discouraged from implementing private cloud services by these financial constraints.

Impact of Covid-19 on the Private Cloud Services Market

The private cloud services business was greatly affected by the COVID-19 pandemic. Organizations expanded their use of techn...

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 market size of the Cloud Computing Market is categorized based on Application (Government, Small and Medium sized enterprises, Large enterprises) and Product (Infrastructure as a service (IaaS), Platform as a Service (PaaS), Software as a Service (SaaS)) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).

This report provides insights into the market size and forecasts the value of the market, expressed in USD million, across these defined segments.

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.

Report Attribute	Key Statistics
Base Year	2024
Forecast Years	2025-2033
Historical Years	2019-2024
Market Size in 2024	USD 51.0 Billion
Market Forecast in 2033	USD 156.4 Billion
Market Growth Rate (2025-2033)	12.61%

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

The cloud service market is expected to be valued at US$ 624.8 billion in 2024. The cloud service technologies are predicted to rise at a staggering CAGR of 15.7% from 2024 to 2034. The global market is anticipated to reach US$ 2,686.06 billion by 2034.

Attributes	Key Insights
Estimated Market Size in 2024	US$ 624.8 billion
Projected Market Value in 2034	US$ 2,686.06 billion
Value-based CAGR from 2024 to 2034	15.7%

2019 to 2023 Historical Analysis vs. 2024 to 2034 Market Forecast Projections

Historical CAGR from 2019 to 2023	14.9%
Forecast CAGR from 2024 to 2034	15.7%

Country-wise Analysis

Countries	Forecast CAGRs from 2024 to 2034
The United States	12.6%
Germany	15.2%
Japan	16.9%
China	16.2%
Australia and New Zealand	19.2%

Category-wise Insights

Category	Market share in 2024
Software as a Service (SaaS)	56.1%
Public Cloud	60.4%

Report Scope

Attributes	Details
Estimated Market Size in 2024	US$ 624.8 billion
Projected Market Valuation in 2034	US$ 2,686.06 billion
Value-based CAGR 2024 to 2034	15.7%
Forecast Period	2024 to 2034
Historical Data Available for	2019 to 2023
Market Analysis	Value in US$ billion
Key Regions Covered	North America Latin America Western Europe Eastern Europe South Asia and Pacific East Asia Middle East and Africa
Key Market Segments Covered	Service Type Deployment Enterprise Size Industry Region
Key Countries Profiled	The United States Canada Brazil Mexico Germany The United Kingdom France Spain Italy Russia Poland Czech Republic Romania India Bangladesh Australia New Zealand China Japan South Korea GCC countries South Africa Israel
Key Companies Profiled	IBM Corporation Dell Technologies SAP Google Oracle Corporation Cisco System Inc. AWS Fujitsu Global Rackspace Technologies Inc. Microsoft

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%.

According to Cognitive Market Research, the global Multi Cloud Storage Market size is USD 24814.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 17.20% 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 9925.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 15.4% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 7444.26 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 5707.27 million in 2024 and will grow at a compound annual growth rate (CAGR) of 19.2% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 1240.71 million in 2024 and will grow at a compound annual growth rate (CAGR) of 16.6% 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 496.28 million in 2024 and will grow at a compound annual growth rate (CAGR) of 16.9% from 2024 to 2031.
The hybrid deployment type held the highest Multi Cloud Storage Market revenue share in 2024.

Market Dynamics of Multi Cloud Storage Market

Key Drivers for Multi Cloud Storage Market

Rising Demand for Data Security and Compliance Driving Multi Cloud Storage Market Growth

The Multi Cloud Storage market is significantly driven by the rising demand for enhanced data security and compliance. As organizations increasingly store sensitive information, ensuring data protection across multiple cloud environments becomes crucial. Multi-cloud storage solutions offer robust security features such as encryption, access controls, and threat detection, which help safeguard data from breaches and cyberattacks. Additionally, these solutions facilitate compliance with various regulatory standards like GDPR, HIPAA, and CCPA, thereby minimizing legal risks. The ability to provide secure, compliant, and resilient storage options makes multi-cloud storage an attractive choice for businesses across various industries.

Growing Adoption of Hybrid Cloud Strategies Boosting Demand for Multi-Cloud Storage Solutions

Multi Cloud Storage market is the growing adoption of hybrid cloud strategies by enterprises. Organizations are increasingly leveraging a mix of public, private, and on-premises clouds to optimize their IT infrastructure. Hybrid cloud strategies enable businesses to balance workloads, enhance operational efficiency, and reduce costs. Multi-cloud storage plays a critical role in these strategies by providing seamless data integration and management across different cloud platforms. This flexibility allows companies to scale their storage needs dynamically while maintaining control over their data. As hybrid cloud adoption continues to rise, the demand for multi-cloud storage solutions is expected to grow correspondingly.

Restraint Factor for Multi Cloud Storage Market

Complexity and Operational Challenges as Significant Restraints in the Multi Cloud Storage Market

A significant restraint for the Multi Cloud Storage Market is the complexity of managing multiple cloud environments, which can lead to increased operational challenges and costs. Integrating different cloud services requires specialized skills and sophisticated tools to ensure seamless interoperability and data consistency. Moreover, businesses must navigate varying compliance and security standards across different cloud platforms, adding to the administrative burden. These challenges can deter some organizations from adopting multi-cloud storage solutions, especially small to medium-sized enterprises with limited resources and expertise in cloud management, thereby hindering market growth.

Impact of Covid-19 on the Multi Cloud Storage Market

The COVID-19 pandemic significantly accelerated the adoption of multi-cloud storage solutions as businesses worldwide transitioned to remote work environments. The surge in digital transformation initiatives led to an increased reliance on cloud-based services for data storage, collaboration, and continuity of operations. Companies sought multi-cloud strategies to enhance data accessibility, ensure redundancy, and maintain resilience against disruptions. However, the pandemic also highlighted challenges related to cybersecurity and data manage...

The cloud storage market size is predicted to reach $134.5 billion in 2024 to $1,137 billion by 2035, growing at a CAGR of 21.4% from 2024 to 2035.