In the first quarter of 2025, Google Cloud brought in 12.26 billion U.S. dollars in revenue. Google Cloud, also known as Google Cloud Platform (GCP), is a public cloud computing platform that offers computing resources for developing, deploying, as well as operating and maintaining applications and services in the cloud.

In 2023, Google Cloud revenue amounted to 43.22 billion U.S. dollars, accounting for over 10 percent of Google's total revenues. The company's Cloud segment primarily generates revenue through the Google Cloud Platform (GCP), which offers a suite of cloud computing services running on Google infrastructure. Competition on the cloud In recent years, GCP has seen tremendous growth with increasing demand for cloud computing to keep pace with digital transformation. The development is fueled by the increasing demand for cloud-based services, dependency on cloud infrastructure for scalability, and the growing popularity of microservices. Tough competition from the largest cloud providers Microsoft Azure and Amazon Web Services has forced all cloud providers to continually innovate and offer new services to gain or retain existing customers. AI on the cloud The growing demand for new technologies like artificial intelligence (AI) will further fuel the demand for cloud infrastructure. AI development, deployment, and management for various applications are more straightforward on the cloud, with the availability of tools for data storage, data processing, and easy integration of machine learning in AI models. One of the critical factors that would drive the development of AI on the cloud is the providers' offer of a pay-as-you-go pricing model.

In 2024, Microsoft generated revenue of 33.7 billion U.S. dollars, positioning the tech giant as the leader among cloud vendors in terms of revenue. Azure —Microsoft’s cloud computing platform — offers customers services for running and managing applications in different cloud environments. Leading cloud vendors Amazon Web Services (AWS), IBM, Salesforce, and Google Cloud are all among the top five cloud vendors. These companies offer different services via the cloud to customers, which includes a wide variety of applications and other resources businesses need for their IT and operations. While AWS and Google offer products and services to customers that are similar to Azure’s, Salesforce is mainly a software as a service (SaaS) provider and the leading customer relationship management (CRM) platform. What does the future of cloud vendors’ offerings look like? Many cloud vendors are seeking to transform from being simply IT infrastructure providers to becoming business partners, by offering consulting for customers on how to improve their business operations by leveraging cloud services. In addition, cloud providers are busy developing vertical clouds, also known as industry clouds, that are optimized for particular industries. This includes industry-specific features such as security measures that are in line with regulatory requirements in the healthcare industry, for example.

Advertising remained the main revenue-generating segment for Google in 2024. During the examined year, 77.8 percent of Google’s revenue came from advertising on Google properties and YouTube. The Google Cloud revenue segment generated 10.8 percent of the company's revenues, up from 4.3 percent in 2018.

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 Public Cloud Managed Service market size will be USD XX million in 2024. It will expand at a compound annual growth rate (CAGR) of 12.30% 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 XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.5% from 2024 to 2031. Europe accounted for a market share of over 30% of the global revenue with a market size of USD XX million. Asia Pacific held a market share of around 23% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 14.3% from 2024 to 2031. Latin America had a market share of more than 5% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.7% 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 XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 12.0% from 2024 to 2031. Managed mobility led the public cloud-managed services market in 2023 Market Dynamics of Public Cloud Managed Service Market Key Drivers for Public Cloud Managed Service Market Cloud computing is becoming increasingly popular The increased usage of cloud computing by various businesses to improve operational efficiency is driving market growth. Aside from that, the widespread use of cloud solutions to manage applications, resources, and services is driving the cloud-managed services market statistics. For example, according to Flexera Software's State of Cloud Report 2023, 75% of company respondents said they were using Microsoft Azure for public cloud purposes. Furthermore, as part of a multi-year relationship, Google Cloud and Connecticut-based XPO Logistics collaborated to improve commodity mobility across supply chains. XPO used Google Cloud's data analytics, machine learning, and artificial intelligence (AI) capabilities to create faster, more efficient supply chains with greater visibility Increased focus on security and compliance The Public cloud-managed services market is primarily driven by enterprises' growing demand for enhanced security measures such as intrusion prevention, threat detection, vulnerability assessments, and data encryption to protect sensitive information and digital assets. Aside from that, cloud MSPs offer knowledge in understanding and implementing various compliance standards, assisting businesses in avoiding potential financial and legal fines, which is also driving market growth. Restraint Factor for the Public Cloud Managed Service Market Security and compliance concerns Security and compliance concerns have been major restraints to the growth of the Public Cloud Managed Service Market. In the context of adopting the public cloud, a business is very cautious about the security of data, privacy, and regulatory compliance. Factors such as the fear of data breaches, unauthorized access, and non-compliance with industry regulations make an organization wary about the full acceptance of public cloud-managed services. Security concerns should be addressed through proper security measure implementation, data protection, and compliance for users and hence help win trust to extend market adoption of the managed services in public cloud space. Impact of Covid-19 on the Public Cloud Managed Service Market Covid-19 has had a huge impact on the Public Cloud Managed Service Market. With worldwide businesses operating remotely and virtually, cloud services demand increased, of which managed services are one. Enterprises have accelerated their cloud adoption so that business continuity and remote collaboration can be possible, which increased dependence on the public cloud platform. The rapid digital transformation meant that more focus on cloud management and security was required, thereby creating the demand for managed services in cloud environment optimization and secure data protection. Introduction of the Public Cloud Managed Service Market The Public Cloud Managed Service Market refers to the industry that offers services to manage a business's functions on public cloud platforms such as Amazon Web Services, Microsoft Azure, Google Cloud Platform, and others. Such services range from managing cloud infrastructure, performance optimization, and security to tec...

In the first quarter of 2025, AWS generated cloud computing and hosting revenues of approximately 29 billion U.S. dollars. Amazon Services Amazon is the one of the leading online retailers worldwide and the leading e-retailer in the United States. In 2024, net sales amounted to over 574 billion U.S. dollars, up from 514 billion U.S. dollars in the previous year. Amazon is the world’s largest online retailer of books, clothing, electronics, music, and many other consumer products. The company is also the producer of the world’s most famous e-book reader, the Amazon Kindle. The vast majority of Amazon’s revenues are generated through the sales of electronics and other products, followed by third-party seller services and AWS. Although primarily active in the B2C market, Amazon also enables third-party sellers to trade their products as well as providing technology infrastructure services (Amazon Web Services, AWS) to businesses. As of the second quarter of 2024, more than half of paid units were sold by third-party sellers. Amazon Web Services includes cloud computing and hosting services, which is a growing sector of online enterprise services. AWS is one of the most popular public cloud platform and infrastructure services worldwide, with 76 percent of respondents from a global survey indicating that they were already running apps on the platform. Other popular cloud services providers include Microsoft with Azure, Google, Oracle, and IBM.

As per Cognitive Market Research's latest published report, the Global AI Enhanced HPC market size is $2,183.06 Million in 2024 and it is forecasted to reach $4,092.77 Million by 2031. AI Enhanced HPC Industry's Compound Annual Growth Rate will be 9.39% from 2024 to 2031.

North America held largest share of XX% in the year 2024 Europe held share of XX% in the year 2024 Asia-Pacific held significant share of XX% in the year 2024 South America held significant share of XX% in the year 2024 Middle East and Africa held significant share of XX% in the year 2024

Market Dynamics of the AI enhanced HPC market

Market Drivers of the AI enhanced HPC market

Growing adoption of cloud computing is driving the demand for global AI-enhanced HPC market.

The growing adoption of cloud computing has emerged as a pivotal driver in fuelling the demand for the global AI-enhanced High-Performance Computing (HPC) market. With its capacity to provide on-demand computer resources and services through the internet, cloud computing has emerged as a vital tool for companies and organizations all over the world. For instance, Cloud hosting and infrastructure are used by about 44% of regular small companies. This compares with 74% of corporations and 66% of small tech companies. In addition, in 2017 the adoption rate was 48.4%, and by 2020 it was 70.3%. The shift from traditional on-premises infrastructure to cloud-based solutions has provided up various opportunities for computing operations in terms of scalability, flexibility, and cost-effectiveness. Cloud service providers have placed themselves in a position to anticipate the changing needs of enterprises as the usage of AI-enhanced HPC rises. In response to the increasing demand for artificial intelligence-infused high-performance computing resources, they are making investments in advanced technology, improved infrastructure, and specialized services. According to Google Cloud Brand Pulse Survey, Q4 2022, in 2022, 26% of respondents stated they used several public clouds, up from 21% in 2021. Additionally, hybrid cloud usage rose from 25% to 42.5%. the growing adoption of cloud-based services would thus increase the application of AI Enhanced HPC.

Increasing emphasis on AI Enhanced HPC by the government agencies is fuelling the demand for the growth of the market.

Governmental organizations across the globe are increasingly prioritizing the incorporation of Artificial Intelligence (AI) innovations in the field of high-performance computing (HPC), which is experiencing an important shift. Realizing the significant impact that these technologies can have on scientific research, national security, and economic competitiveness has made the convergence of AI and HPC into a strategic imperative rather than just a market trend. For instance, HPC is used by the National Nuclear Security Administration (DOE/NNSA) of the US Department of Energy to safeguard nuclear weapons. Since the United States stopped conducting underground nuclear tests in the 1990s, HPC simulation and modeling have become essential. With 40 petaflops of HPC on next-generation Dell PowerEdge servers, Lawrence Livermore National Laboratory intends to start increasing processing power for its computational scientists this year, as well as those at Los Alamos and Sandia National Laboratories. Government organizations are realizing increasingly how crucial it is to be at the forefront of AI-Enhanced HPC capabilities because doing so directly contributes to advances in innovation and scientific research. Countries are investing more in AI enhanced HPC and thus is driving the demand for this market even more. For instance, China proposed an open-source ecosystem for smart manufacturing, precision farming, and precision medicine, along with AI+ HPC+ 5G-based digital twin platforms. In addition, to establish the UK as a global leader in AI with the new Isambard-AI supercomputer, the government invested £300 million, of which £225 million went to the University of Bristol. With more than 5,000 cutting-edge NVIDIA GH200 superchips, the new system will be the strongest supercomputer in the UK, able to perform 200 quadrillion computations per second.

Market Restraint

High cost of implementation is restraining the growth of global AI enhanced HPC market

The high implementation costs of AI are posing significant challenges to th...

According to a survey conducted in South Korea in 2023, around 69 percent of respondents stated that one of their most commonly used cloud services was Naver's NDrive. This was followed by Google Drive and Apple iCloud, at about 28 percent and 19 percent respectively. Naver Cloud Naver Cloud is a subsidiary of Naver, which is South Korea’s largest search portal. This cloud company offers IT platform services, such as storage, IT infrastructure consulting, data centers, networks, and security. Unlike other cloud services from foreign companies, which are provided in English, Naver Cloud supports its services in Korean. It also operates real-time customer service centers since it mainly targets Korean customers. Based on their localized service, Naver’s revenue from the cloud sector has been on the rise in recent years. Cloud services usage in South Korea Due to global IT trends, such as digitalization and remote working, the penetration rate of cloud services in South Korea grew in the latter half of the 2010s. In particular, Korean users utilize cloud services primarily for data and information management. Clouds can be used for both business and personal purposes. In the case of personal usage, most users were in their twenties and thirties, as they used cloud services for storing photos or documents online. As clouds are a digital-intensive service, it may require digital literacy to access and use, which can be an potential issue for the elderly population.

In the first quarter of 2025, revenues of Amazon Web Services (AWS) rose to 17 percent, a decrease from the previous three quarters. AWS is one of Amazon’s strongest revenue segments, generating over 115 billion U.S. dollars in 2024 net sales, up from 105 billion U.S. dollars in 2023. Amazon Web Services Amazon Web Services (AWS) provides on-demand cloud platforms and APIs through a pay-as-you-go-model to customers. AWS launched in 2002 providing general services and tools and produced its first cloud products in 2006. Today, more than 175 different cloud services for a variety of technologies and industries are released already. AWS ranks as one of the most popular public cloud infrastructure and platform services running applications worldwide in 2020, ahead of Microsoft Azure and Google cloud services. Cloud computing Cloud computing is essentially the delivery of online computing services to customers. As enterprises continually migrate their applications and data to the cloud instead of storing it on local machines, it becomes possible to access resources from different locations. Some of the key services of the AWS ecosystem for cloud applications include storage, database, security tools, and management tools. AWS is among the most popular cloud providers Some of the largest globally operating enterprises use AWS for their cloud services, including Netflix, BBC, and Baidu. Accordingly, AWS is one of the leading cloud providers in the global cloud market. Due to its continuously expanding portfolio of services and deepening of expertise, the company continues to be not only an important cloud service provider but also a business partner.

According to Cognitive Market Research, the global Open-Source Services market will be USD 54.1 billion in 2024 and will expand at a compound annual growth rate (CAGR) of 16.2% from 2024 to 2031. Market Dynamics of Open Source Services Market

Key Drivers for Open Source Services Market

Growing adoption of cloud computing-One of the main reasons for the Open Source Services market is the increasing adoption of cloud computing. Cloud platforms such as AWS, Google Cloud, and Microsoft Azure are integrating open-source solutions to enhance scalability, flexibility, and cost-efficiency for enterprises. The growing need for robustness bolsters this trend and secures IT infrastructure, enabling businesses to innovate rapidly and reduce vendor lock-in. Open-source services offer customizable solutions that align with diverse business needs, fostering a collaborative ecosystem. Furthermore, the rising emphasis on digital transformation and DevOps practices propels the demand for open-source tools and platforms. As organizations prioritize agility and seamless integration, the open-source services market is poised for significant expansion, underpinned by the synergy between cloud computing and open-source technologies.
Rise of digital transformation among businesses to drive the Open Source Services market's expansion in the years ahead.

Key Restraints for Open Source Services Market

Skilled professional shortage in its deployment poses a serious threat to the Open Source Services industry.
The market also faces significant difficulties related to Integration difficulties with the existing proprietary software and infrastructure.

Introduction of the Open Source Services Market

The Open Source Services market is witnessing robust growth as organizations increasingly adopt open-source solutions to leverage their cost-effectiveness, flexibility, and innovation potential. This market encompasses a wide range of services, including consulting, support, implementation, and maintenance, offered by vendors to help businesses maximize the benefits of open-source software. Key drivers of market growth include the rising adoption of cloud computing, the need for enhanced operational efficiency, and the growing trend of digital transformation across industries. Additionally, open-source services facilitate collaboration and customization, which are critical in addressing unique business requirements. North America and Europe are leading regions due to advanced IT infrastructure and high technology adoption rates, while the Asia Pacific region is emerging as a significant growth area owing to the rapid digitalization of economies and increasing investments in IT.

According to Cognitive Market Research, the global Big Data as a Services market size will be USD 28214.6 million in 2024. It will expand at a compound annual growth rate (CAGR) of 20.50% 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 11285.84 million in 2024 and will grow at a compound annual growth rate (CAGR) of 18.7% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 8464.38 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 6489.36 million in 2024 and will grow at a compound annual growth rate (CAGR) of 22.5% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 1410.73 million in 2024 and will grow at a compound annual growth rate (CAGR) of 19.9% 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 564.29 million in 2024 and will grow at a compound annual growth rate (CAGR) of 20.2% from 2024 to 2031.
The SMEs category is the fastest growing segment of the Big Data as a Services industry

Market Dynamics of Big Data as a Services Market

Key Drivers for Big Data as a Services Market

Rising Volume and Complexity of Data to Boost Market Growth

The exponential growth in data generated by businesses and consumers is a major driving factor for the Big Data as a Service (BDaaS) market. Organizations are increasingly leveraging data to drive business decisions, customer experiences, and operational efficiencies. However, the sheer volume, variety, and velocity of data—coupled with its complexity—pose significant challenges for traditional data management solutions. Big Data as a Service enables businesses to handle vast amounts of structured and unstructured data without investing in expensive infrastructure. Cloud-based BDaaS solutions offer scalability and flexibility, allowing organizations to process, store, and analyze large datasets in real time. This shift toward cloud computing, where organizations pay for only the resources they use, further accelerates the demand for BDaaS. The ability to gather actionable insights from big data, along with improved storage capabilities, allows businesses to stay competitive and responsive in rapidly changing markets. For instance, Google Cloud and SAP extended their alliance to introduce an all-inclusive open data solution designed to streamline data landscapes and expand the power of business data. The offering allows customers to develop an all-inclusive data cloud that collects data from across the enterprise landscape using the Datasphere solution of SAP with the data cloud of Google.

Cost-Effectiveness and Scalability to Drive Market Growth

Cost-effectiveness and scalability are critical drivers of the Big Data as a Service (BDaaS) market, especially for small and medium-sized enterprises (SMEs) that may not have the budget for on-premise data management systems. BDaaS provides organizations with a more affordable alternative by eliminating the need for heavy upfront investments in infrastructure, hardware, and IT staff. Instead, businesses can access big data analytics tools and storage on a subscription basis, paying only for the resources they consume. This flexibility allows companies to scale their data services up or down based on their needs without the concern of over-committing to expensive hardware or software. Moreover, BDaaS enables organizations to focus on core business functions while outsourcing complex data management tasks to specialized service providers.

Restraint Factor for the Big Data as a Services Market

Data Security and Privacy Concerns Will Limit Market Growth

The primary restraining factor for the Big Data as a Service (BDaaS) market is the growing concern over data security and privacy. Since BDaaS solutions involve handling vast amounts of sensitive and personal data, companies are highly concerned about the risk of data breaches and unauthorized access. Regulatory frameworks like GDPR, HIPAA, and CCPA impose stringent data protection laws, making it difficult for businesses to comply with local and international regulations. Additionally, the security of cloud-based storage solutions, where much of the data is stored, is often questioned....

Cloud computing has become an integral part of modern business operations, with public cloud services leading the way. A 2024 survey reveals that 97 percent of businesses worldwide prefer using public cloud services, highlighting the widespread adoption of this cost-effective model. The pay-as-you-go approach allows companies to scale resources as needed, making it an attractive option for organizations of all sizes. Market leaders and revenue growth The cloud computing market is dominated by a few key players, with Amazon Web Services (AWS) maintaining a strong lead. In 2023, AWS held a 48 percent market share in the global infrastructure as a service (IaaS) and platform as a service (PaaS) sectors. Microsoft Azure, Alibaba Cloud, and Google Cloud Platform follow, with the four hyperscalers expected to generate a combined revenue of 167.3 billion U.S. dollars. These companies leverage their global scale, innovative technology, and deep expertise to offer a wide range of services beyond basic cloud computing resources. Regional market forecasts The data center market, closely tied to cloud computing, is poised for significant growth across all regions by 2029. The United States is projected to lead with an estimated revenue of 212.06 billion U.S. dollars, far outpacing other markets such as the United Kingdom, which is forecast to reach 23.76 billion U.S. dollars. This substantial difference underscores the dominance of the U.S. market in the global cloud computing landscape and highlights the potential for continued expansion in other regions.

According to Cognitive Market Research, the global Infrastructure as Code (IaC) market size is USD 1.2 billion in 2024 and will expand at a compound annual growth rate (CAGR) of 24.8% from 2024 to 2031. Market Dynamics of Infrastructure as Code (IaC) Market

Key Drivers for Infrastructure as Code (IaC) Market

Increasing Demand for Scalability and Flexibility in Cloud Environments - The growing adoption of cloud computing platforms like AWS, Azure, and Google Cloud is another major driver for the IaC market. Cloud environments require scalable and flexible infrastructure to handle varying workloads and support dynamic business demands. IaC facilitates this by allowing infrastructure configurations to be easily modified, replicated, and scaled through code. This flexibility is crucial for businesses looking to optimize costs and performance by dynamically adjusting their infrastructure based on current needs. The ability to scale infrastructure rapidly and reliably using IaC is essential for companies operating in fast-paced, growth-oriented industries, making IaC a critical component of modern cloud management strategies.
The enhanced collaboration and DevOps integration are anticipated to drive the Infrastructure of Code (IaC) market's expansion in the years ahead.

Key Restraints for Infrastructure as Code (IaC) Market

The steep learning curve and need for specialized skills to implement and manage IaC tools effectively can restrain the Infrastructure as Code (IaC) industry growth.
The market also faces significant difficulties related to security concerns.




Complexity in Code-Driven Architecture Management Delays Market Growth.

The conventional IT infrastructure of organizations requires multiple code repositories and dedicated platforms and tools to handle and maintain automated infrastructure operations. Even though the popularity of the IaC tools is increasing, organizations can struggle to move the manual infrastructure management process to a code-based automated process. This aspect has a tremendous influence on the current workflows, and it can decrease the productivity of the business operation.

Additionally, the lack of enough information on how to deal with the multi-level complex architecture of large-scale businesses develops resistance towards merging new technologies. This element creates risks and develops issues of vulnerability while coping with the code-oriented infrastructure configuration of the business.

Thus, the complexity of code-based architecture hinders business growth in markets.

Key Opportunity of Market.

Origin of composable infrastructure can be an opportunity.

Simplified operations, scalability of resources, lower IT expenses, and in-built data recovery and data protection are some of the aspects that are likely to spur the use of Infrastructure as code solutions. Under the current situation, industries are not widely aware of the advantages of composable solutions. But this scenario is likely to change in the next few years, as the top players of the Infrastructure as code market are making the buyers realize the advantages and benefits of composable solutions. Large organizations are currently the top adopters of Infrastructure as code solutions. But SMEs are likely to adopt these solutions at a fast pace in the next few years. The high data protection availability, cost savings, high return on investment, and operational simplicity are the key advantages to the prospective adopters of composable infrastructure solutions. Infrastructure as code vendors have to make their products compatible with the aforementioned requirements to achieve high sales and more profitability. If the future composable infrastructure solutions are able to fulfill the said requirements of adopters, then they would be advantageous to both vendors and adopters.

Introduction of the Infrastructure as Code (IaC) Market

The Infrastructure as Code (IaC) market is transforming IT infrastructure management by enabling automated, consistent, and scalable provisioning and deployment of computing resources. IaC allows infrastructure to be defined and managed through code, making it easier to version control, test, and reuse configurations. This approach enhances efficiency, reduces human error, and accelerates deployment times, making it ideal for dynamic and complex cloud environments. Despite its advantages, the IaC market faces...