In the fourth quarter of 2024, the most popular vendor in the cloud infrastructure services market, Amazon Web Services (AWS), controlled ** percent of the entire market. Microsoft Azure takes second place with ** percent market share, followed by Google Cloud with ** percent market share. Together, these three cloud vendors account for ** 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.

The global private cloud services market is set to grow, with a valuation of USD 124.6 billion in 2025, and it is going to touch USD 618.3 billion by 2035. The CAGR of 15.9% is likely during the projection period proposed.

Metric	Value
Industry Size (2025E)	USD 124.6 billion
Industry Value (2035F)	USD 618.3 billion
CAGR (2025 to 2035)	15.9%

Country-wise CAGR Analysis of the Private Cloud Services Market (2025 to 2035)

Country	CAGR (2025 to 2035)
USA	15.2%
UK	13.8%
France	12.5%
Germany	13.0%
Italy	11.3%
South Korea	14.0%
Japan	12.8%
China	16.5%
Australia	13.2%
New Zealand	11.9%

Competitive Outlook

Company Name	Estimated Market Share (%)
Amazon Web Services (AWS)	32%
Microsoft Azure	25%
IBM Cloud	15%
Google Cloud Platform (GCP)	10%
VMware	8%
Other Companies Combined	10%

The Professional Cloud Services Market report segments the industry into By Type of Deployment (Public, Private, Hybrid), By Type of Service Model (Platform as a Service (PaaS), Software as a Service (SaaS), Infrastructure as a Service (IaaS)), By End-User Industry (Government and Public Sector, Healthcare, Banking, Finance, Services, and Insurance (BFSI), Retail, IT and Telecommunications, and more), and Geography.

In the fourth quarter of 2024, Amazon Web Services (AWS), held around ** percent market share of the cloud infrastructure services market. AWS's share of the cloud infrastructure services market has remained steady at around a ***** of the total market since at least 2017. Microsoft Azure and Google Cloud take ** percent and ** percent market share, respectively. The next ****** cloud providers held a combined ** 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

According to Cognitive Market Research, the global private cloud services market size was 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: Stricter privacy laws across regions are driving businesses to adopt private cloud services, which offer better data control and legal compliance, boosting market trust and growth.

Rising Need for Storage of Data: The surge in data generation and storage demands is fueling the adoption of private cloud services, offering scalable, cost-effective, and secure storage solutions for both personal and business use.

Restraint Factor for the Private Cloud Services Market

High Charges & Upfront Expenses, will Limit Market Growth: The significant initial costs associated with deployment and the high expenses involved in migrating legacy systems impede the uptake of private cloud services, particularly among small to medium-sized enterprises. Additionally, the continuous maintenance costs exacerbate the financial strain, thereby hindering overall market expansion.

Security Issues in Hybrid Models:When incorporated into hybrid cloud systems, discrepancies in security protocols may present risks, potentially eroding trust in private cloud settings.

Trends In Private Cloud Services Market

Tailored Cloud Solutions:Industry leaders such as HPE are providing customized private cloud platforms that are integrated with infrastructure tools and cloud applications, facilitating hybrid and multi-cloud strategies.

Merging Hybrid and Multi-Cloud Models:Organizations are progressively incorporating private cloud services into wider hybrid and multi-cloud frameworks to enhance flexibility, scalability, and governance.

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 technology as flexible schedules gained acceptance, which drove demand for private cloud services. To facilitate handling data, working from home, and teamwork, organizations looked for accessible and safe networks. Private cloud vendors were forced to adapt and broaden their product offerings by this spike in demand. Overall, because the pandemic made clear how important private cloud services are for permitting virtual occupations and maintaining stable operations, the market for these services grew more quickly. Introduction of the Private Cloud Services Market

Private cloud services are specific computer environments reserved for one company that offer technological advantages with greater authority, security, and adaptation. Any internet-connected device can access a personal cloud, facilitating seamless cross-platform communication and syncing. Private cloud systems are utilized for tasks including internet accessibility, collaboration, data backup, and coordination. The proliferation of computerized materials, the growing acceptance of the internet, the growing use of handheld devices, and the expanding requirement for secure data storage and restoration are all contributing factors to the growth of the private cloud market. Additionally, because of advancements in security and...

United States Cloud Computing Market Report is Segmented by Deployment Type (Public Cloud, Private Cloud, Hybrid Cloud), Service Model (Infrastructure-As-A-Service, Platform-As-A-Service, Software-As-A-Service), Organisation Size (SMEs, Large Enterprises), End-User Vertical (Manufacturing, Education, Retail, and More). The Market Forecasts are Provided in Terms of Value (USD).

By 2034, the Cloud Computing Market is expected to reach a valuation of USD 7,473.3 billion, expanding at a healthy CAGR of 23.4%.

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

Snapshot img

Private Cloud Services Market Size 2025-2029

The private cloud services market size is forecast to increase by USD 385.7 billion, at a CAGR of 19.6% between 2024 and 2029. The market is experiencing significant growth, driven by the increasing preference for enhanced data security. This trend is particularly notable in the BFSI sector, where the acceptance of private cloud solutions is on the rise.

Major Market Trends & Insights

North America dominated the market and contributed 51% to the growth during the forecast period.
The market is expected to grow significantly in Europe region as well over the forecast period.
Based on the Service, the IaaS segment led the market and was valued at USD 122.70 billion of the global revenue in 2023.
Based on the Type, the Large enterprise segment accounted for the largest market revenue share in 2023.

Market Size & Forecast

Market Opportunities: USD 259.64 Billion
Future Opportunities: USD 385.7 Billion
CAGR (2024-2029): 19.6%
North America: Largest market in 2023

The market continues to evolve in various sectors. However, the market also faces challenges, primarily the high costs associated with implementing and maintaining private cloud services. These costs can be attributed to the need for specialized hardware, software, and skilled personnel. As businesses continue to prioritize data security and regulatory compliance, the demand for private cloud services is expected to persist. Concurrently, addressing the cost challenge through innovative pricing models, operational efficiencies, and economies of scale will be crucial for market participants to capitalize on this opportunity.

What will be the Size of the Private Cloud Services Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
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The market continues to evolve, with organizations increasingly adopting advanced technologies to optimize their IT infrastructure and enhance business agility. Service level agreements (SLAs) play a crucial role in ensuring the reliability and performance of these services. Configuration management tools help manage the complexity of private cloud environments, while serverless computing enables the deployment of applications without the need for managing infrastructure. Monitoring dashboards provide real-time insights into the health and utilization of compute resources, enabling high-availability clusters to minimize downtime. Cost optimization strategies, such as virtual desktop infrastructure and cloud storage optimization, help reduce costs and improve resource utilization.
Hybrid cloud integration allows organizations to leverage the benefits of both private and public clouds, while avoiding the challenges of virtual machine sprawl. Performance monitoring and application performance management ensure that applications run efficiently, and load balancing techniques distribute workloads evenly. Automated provisioning and microservices architecture facilitate faster deployment and scalability, while disaster recovery planning and DevOps automation ensure business continuity. Network virtualization and software-defined networking enable the creation of flexible, secure, and scalable networks. CI/CD pipelines streamline the development process, and compliance auditing ensures regulatory compliance. Capacity planning and multi-cloud management enable organizations to optimize their cloud resources and mitigate risks.
Data loss prevention and container orchestration help secure data and applications in private cloud environments. According to recent market research, the market is expected to grow by over 15% annually, driven by the increasing adoption of cloud technologies and the need for greater business agility and cost savings. For instance, a leading financial services firm reported a 20% increase in application performance and a 30% reduction in IT costs after migrating to a private cloud solution.

How is this Private Cloud Services Industry segmented?

The private cloud services industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Service

  IaaS
  SaaS
  PaaS


Type

  Large enterprise
  Small and medium enterprise


Vertical

  BFSI
  IT & Telecom
  Healthcare & Life Sciences
  Government & Public Sector
  Retail & Consumer Goods
  Manufacturing
  Energy & Utilities


Deployment Type

  Dedicated Private Cloud
  Virtual Private Cloud


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  APAC

    China
    India
    Japan
    South Korea


  Rest of World (ROW)

By Serv

North America Cloud Computing Market Report is Segmented by Deployment Model (Public Cloud, Private Cloud, Hybrid Cloud), Service Model (Infrastructure-As-A-Service (IaaS), Platform-As-A-Service (PaaS), Software-As-A-Service (SaaS)), Organization Size (SMEs, Large Enterprises), End-User Verticals (Manufacturing, Education, Retail, Healthcare, BFSI, and More), and Geography. The Market Forecasts are Provided in Terms of Value (USD).

In 2023, Amazon generated around ** billion U.S. dollars from the sale of infrastructure as a service (IaaS), giving it a market share of approximately ** percent, more than the next three largest vendors in the market combined. Microsoft's growth in 2020 was driven by the global healthcare crisis that disrupted workplace environments and increased the demand for Microsoft's cloud products and solutions. In 2023, almost all IaaS providers exhibited growth, while the leading five providers accounted for over ** percent of the market.

Globally, the public cloud market is currently valued at 685.3823 billion USD and is projected to reach a staggering 2,225.9945 billion USD by 2033, reflecting a robust CAGR of 12.81% from 2025 to 2033. Faster digital transformation, rising cloud-native application development, increased affordability, and rapid penetration of mobile devices and IoT are some key growth drivers shaping the public cloud market. Furthermore, the adoption of innovative technologies like AI, ML, and analytics further fuels demand for cloud computing resources. Regionally, North America holds the largest market share, followed by Europe and Asia Pacific. Leading cloud providers such as Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform (GCP) dominate the market, offering comprehensive cloud services across IaaS, PaaS, and SaaS models. Key trends shaping the market include the increasing adoption of multi-cloud and hybrid cloud solutions, the rise of edge computing, and the growing significance of data security and compliance. Despite these growth drivers, factors such as data privacy and security concerns, legacy systems, and potential vendor lock-in can restrain market growth to some extent. Recent developments include: In March 2023, Alibaba Cloud, the foundation of Alibaba Group's digital technology and intelligence, announced its partnership with long-time partner Dubai Holding to upgrade the facility with cutting-edge cloud infrastructure and a wider range of products and services in analytics, databases, industry solutions, and AI services to provide customers with the best digital solutions during their journey towards digitalization. In February 2023, Alibaba Cloud, the digital technology and intelligence core of Alibaba Group has been selected by e-commerce platform MyEUShop and its joint venture logistics partner, Nederlands Express (NLE), as their preferred cloud service provider and technology partner. MyEUShop and NLE will receive assistance from Alibaba Cloud to optimize their retail solutions and e-commerce platform infrastructure to achieve future commercial growth. In March 2023, AWS, a division of Amazon.com, Inc., has announced plans to open a region for its infrastructure in Malaysia. The new Amazon Region will allow developers, start-ups, entrepreneurs, businesses, government, educational, and charity institutions more options for using Malaysian data centers to operate their applications and serve end users. In October 2022, UBS and Microsoft announced a significant expansion of their collaboration to expand UBS's public cloud footprint over the next five years. As part of this transformational endeavour, UBS intends to operate more than half of its applications, including key workloads, on Microsoft Azure, the firm's primary cloud platform. The collaboration advances UBS's "cloud-first" strategy and modernization of its global technology estate. In July 2022, in India, Adobe Experience Manager (AEM) as a Cloud Service, powered by Adobe Experience Cloud, is now generally available, according to Adobe. With SaaS-like agility and experience management capabilities, AEM, a cloud-native solution, helps businesses manage and scale customized digital content for every channel. This enables marketers and developers to quickly create powerful, personalized digital experiences in just a few weeks, unlike the industry norm of months. . Notable trends are: Increasing demand for immersive virtual reality experiences is driving the market growth..

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

Cloud Computing Market Outlook

According to our latest research, the global cloud computing market size reached USD 678.9 billion in 2024, reflecting robust expansion driven by digital transformation across industries. The market is expected to grow at a CAGR of 17.2% from 2025 to 2033, reaching a forecasted value of USD 2,334.6 billion by 2033. This rapid growth is primarily fueled by increased enterprise adoption of cloud-based solutions, demand for scalable IT infrastructure, and the proliferation of advanced technologies such as artificial intelligence, machine learning, and big data analytics.

A key growth factor propelling the cloud computing market is the accelerating pace of digitalization across both private and public sectors. Organizations are increasingly prioritizing cloud-first strategies to enhance operational agility, streamline workflows, and reduce capital expenditure on traditional IT infrastructure. The flexibility and scalability offered by cloud computing services allow businesses to quickly adapt to changing market conditions, launch new products and services, and respond to customer needs with unprecedented speed. Additionally, the COVID-19 pandemic has significantly amplified the need for remote work solutions, further driving the adoption of cloud platforms for collaboration, data storage, and application deployment.

Another major driver is the continuous evolution of cloud service models, including Infrastructure as a Service (IaaS), Platform as a Service (PaaS), and Software as a Service (SaaS). These models provide organizations with tailored solutions that cater to diverse operational requirements, from data management and application development to analytics and cybersecurity. The increasing integration of artificial intelligence and machine learning capabilities within cloud platforms is enabling businesses to harness data-driven insights, automate processes, and foster innovation. Moreover, the growing trend of hybrid and multi-cloud deployments is allowing organizations to optimize their IT environments by leveraging the strengths of multiple cloud providers while maintaining control over sensitive workloads.

Security and compliance considerations are also shaping the growth trajectory of the cloud computing market. As data privacy regulations become more stringent, enterprises are seeking cloud solutions that offer robust security features, data encryption, and compliance with industry standards. Cloud service providers are continuously enhancing their offerings to address these concerns, investing in advanced security technologies and collaborating with regulatory bodies to ensure adherence to global standards. This heightened focus on security is not only mitigating risks but also building trust among organizations, thereby accelerating cloud adoption across sectors such as BFSI, healthcare, and government.

As organizations increasingly rely on cloud-based solutions, the role of Cloud API has become pivotal in ensuring seamless integration and functionality across diverse platforms. Cloud APIs facilitate communication between different software applications, enabling businesses to leverage a wide array of cloud services without the need for extensive reconfiguration. This capability is particularly beneficial for enterprises looking to enhance their digital ecosystems by integrating third-party services, improving interoperability, and streamlining operations. With the growing complexity of IT environments, Cloud API serves as a crucial tool for developers and IT professionals to build, manage, and scale applications efficiently, thereby driving innovation and agility in the cloud computing landscape.

From a regional perspective, North America continues to dominate the cloud computing market, accounting for the largest share due to the presence of major technology companies, early adoption of cloud technologies, and substantial investments in research and development. However, the Asia Pacific region is witnessing the fastest growth, driven by rapid digital transformation in emerging economies, increasing internet penetration, and government initiatives supporting cloud adoption. Europe and Latin America are also experiencing significant market expansion, with enterprises leveraging cloud solutions to enhance competitiveness and drive innovation. The Middle East & Afri

Cloud Services Market Outlook

According to our latest research, the cloud services market size reached USD 627.5 billion in 2024 globally, demonstrating robust expansion driven by digital transformation across industries. The market is expected to grow at a CAGR of 16.2% from 2025 to 2033, projecting a forecasted market size of USD 1,955.8 billion by 2033. This rapid growth is primarily fueled by increasing enterprise adoption of cloud-based solutions, the proliferation of data-driven applications, and the rising need for scalable IT infrastructure.

A key driver of the cloud services market is the accelerating digital transformation initiatives undertaken by organizations worldwide. Enterprises are migrating legacy systems to the cloud to achieve greater agility, cost-efficiency, and innovation. The adoption of advanced technologies such as artificial intelligence, machine learning, and Internet of Things (IoT) is further boosting demand for scalable and flexible cloud platforms. As businesses increasingly prioritize remote work, collaboration, and global connectivity, cloud services have become indispensable for supporting distributed workforces and ensuring business continuity. Moreover, the shift towards cloud-native application development and containerization is intensifying the need for robust cloud infrastructure and services.

Another significant growth factor is the expanding ecosystem of cloud service providers and the continuous evolution of service offerings. Major players are investing heavily in enhancing their cloud platforms with advanced analytics, security features, and industry-specific solutions. The rise of multi-cloud and hybrid cloud strategies enables organizations to optimize workloads, enhance data sovereignty, and mitigate risks associated with vendor lock-in. Additionally, the increasing focus on regulatory compliance and data privacy is compelling enterprises to seek cloud solutions that offer robust security and governance frameworks. The growing adoption of edge computing, which brings computation closer to the data source, is also contributing to the expansion of cloud services, particularly in sectors such as manufacturing, healthcare, and retail.

The surge in demand for cloud services is further bolstered by the rapid proliferation of digital content, e-commerce, and online services. As consumers and businesses increasingly rely on digital platforms for communication, entertainment, and transactions, the need for resilient, high-performance cloud infrastructure becomes paramount. Cloud services enable organizations to scale resources dynamically in response to fluctuating demand, ensuring optimal user experiences and operational efficiency. Furthermore, the integration of advanced security solutions within cloud environments is addressing concerns related to cyber threats and data breaches, thereby fostering greater trust and adoption among enterprises across various sectors.

From a regional perspective, North America continues to dominate the global cloud services market, driven by the presence of leading technology providers and early adoption of digital technologies. The Asia Pacific region is witnessing the fastest growth, fueled by rapid urbanization, expanding internet penetration, and government-led digitalization initiatives. Europe is also experiencing steady growth, supported by stringent data protection regulations and increasing investments in cloud infrastructure. In contrast, Latin America and the Middle East & Africa are emerging as promising markets, with rising awareness and adoption of cloud solutions across various industries. The global nature of the cloud services market ensures that regional dynamics play a crucial role in shaping market trends and opportunities.

Service Type Analysis

The cloud services market is segmented by service type into Infrastructure as a Service (IaaS), Platform as a Service (PaaS), Software as a Service (SaaS), and others. Software as a Service (SaaS) continu

Cloud Computing Market estimated at USD 761 billion in 2024, and is projected to reach USD 2.5 trillion in 2032, will grow at a CAGR of 16.5% till 2032

Snapshot img

Public Cloud Services Market Size 2025-2029

The public cloud services market size is valued to increase USD 1707.7 billion, at a CAGR of 23.1% from 2024 to 2029. Increasing number of data center hyperscale and colocation providers will drive the public cloud services market.

Major Market Trends & Insights

North America dominated the market and accounted for a 59% growth during the forecast period.
By Service - SaaS segment was valued at USD 256.20 billion in 2023
By Type - SMEs segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 595.06 billion
Market Future Opportunities: USD 1707.70 billion
CAGR : 23.1%
North America: Largest market in 2023

Market Summary

The market represents a dynamic and continually evolving landscape, driven by the increasing adoption of core technologies such as artificial intelligence, machine learning, and automation. This shift towards cloud-based solutions is fueled by the growing number of data center hyperscale and colocation providers, which offer scalable and flexible infrastructure to businesses. Additionally, strategic partnerships and collaborations among market participants continue to shape the competitive landscape, as they seek to expand their offerings and reach new customer segments. However, the market also faces challenges, including company lock-in and operational complexities, which can hinder adoption and create barriers to entry for smaller players. According to recent estimates, the market is expected to account for over 60% of total enterprise IT spending by 2023, underscoring its growing importance in the digital economy.

What will be the Size of the Public Cloud Services Market during the forecast period?

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How is the Public Cloud Services Market Segmented and what are the key trends of market segmentation?

The public cloud services industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments. ServiceSaaSIaaSPaaSTypeSMEsLarge enterpriseEnd UserBFSIIT & telecomRetail & consumer goodsManufacturingEnergy & utilitiesHealthcareMedia & entertainmentGovernment & public sectorOthersDeployment TypePublic CloudHybrid CloudApplicationStorage & BackupApplication Development & TestingAnalytics & Big DataBusiness ApplicationsGeographyNorth AmericaUSCanadaEuropeFranceGermanyItalyUKAPACChinaIndiaJapanSouth AmericaBrazilRest of World (ROW)

By Service Insights

The saas segment is estimated to witness significant growth during the forecast period.

The market is experiencing significant growth, with cloud storage services and resource monitoring witnessing a substantial uptake. Object storage systems have become increasingly popular due to their flexibility and scalability, while various storage tiers cater to diverse business needs. Virtual machines and cloud-native applications have gained traction, with compute instance types offering customizability and managed Kubernetes services ensuring seamless container orchestration. Disaster recovery solutions are essential for business continuity, while cloud security posture remains a top priority. Serverless function scaling and microservices architecture have revolutionized application development, with serverless computing enabling on-demand resource allocation. Data encryption methods are essential for securing sensitive information, and software-defined networking streamlines network management. Data archiving strategies and cloud cost optimization are critical for efficient data management. Container orchestration tools like elastic block storage and hybrid cloud deployments facilitate seamless integration of on-premises and cloud infrastructure. High availability clusters and auto-scaling capabilities ensure uninterrupted service delivery. API gateway services, network virtualization, infrastructure as code, and load balancing algorithms are essential components of modern cloud architectures. DevOps automation tools and API management platforms streamline development and deployment processes. Cloud-based analytics provide valuable insights for data-driven decision-making. According to recent studies, the market has grown by 21.5% in the past year, and industry experts anticipate a further 25.3% expansion in the upcoming years. These trends reflect the continuous evolution of the market and its applications across various sectors, offering businesses increased flexibility, scalability, and cost savings.

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The SaaS segment was valued at USD 256.20 billion in 2019 and showed a gradual increase during the forecast period.

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Region

In 2023, the software as a service (SaaS) segment accounted for approximately **** percent of the total public cloud services market in the Asia-Pacific region, excluding China and Japan. Both the SaaS and infrastructure as a service (IaaS) segments saw a decline in market share in the region from 2022 to 2023. This was accompanied by an increase of more than two percent in the market share of the platform as a service (PaaS) segment during the same period.

Pharma cloud services market size is expected to grow from USD 9.5 billion in 2024 to USD 11 billion in 2025 and USD 46.1 billion by 2035, at a CAGR of 15.4%

The size of the Professional Cloud Services market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 17.76% during the forecast period.Professional cloud services include knowledge and advisory services that specialized companies offer to help organizations implement and use cloud computing technologies in an effective way. It is beyond the simple infrastructure and platform offerings that include strategic consulting, implementation assistance, and ongoing support.Professional cloud services are used by organizations for the proper handling of all complexities of adoption of the cloud so as to optimize their investments into the cloud and reap maximum results through cloud computing. In fact, these professional cloud services are very useful in the business setup where this kind of in-house expertize and resources to manage themselves is not available. Thru these partners, experienced providers of cloud services can further speed up their journey within the cloud, reduce associated risks, and help yield desired business outcomes. Recent developments include: June 2022: Hewlett Packard Enterprise launched platform enhancements and new cloud services for HPE GreenLake, the company's flagship product offering that allows firms and organizations to modernize all their data and applications. This involves a reimagined modern private cloud that delivers a cloud-native experience to power an organization's hybrid strategy, regardless of the location., April 2022: VMware and Alibaba Cloud have launched the next iteration of their jointly developed public cloud service, Alibaba Cloud VMware Service, to assist organizations throughout China in boosting their digital transformation. The service promises to assist Chinese organizations so that they can modernize and migrate applications more quickly and shift workloads between on-premises VMware infrastructures and Alibaba Cloud at a larger scale.. Key drivers for this market are: Need for Delivering Strengthen Buyer Experiences, Focus on Business Productivity. Potential restraints include: Increasing Incidents of Cyber-attacks. Notable trends are: Hybrid Cloud is Expected to Have High Growth in the Market.