In this rapidly changing environment, many businesses have adopted cloud technologies. The cloud service that is offered over a public network is defined as the public cloud service. Public cloud service has many benefits as flexibility, cost effectiveness, reliability and many more. Rapid IT modernization, investment in technological developments and other are the key factors driving public cloud service market.
Recently it has been studied that cyber security threat is increasing and this is considered as the major restraint in public cloud service market. Apart from cyber security internet downtime and limited control of infrastructure are also some of the restraining factor in public cloud service market. Government organizations from many countries are recently taking interest in complete integration with cloud technologies.
Public Cloud Service Market is growing rapidly over 4% of CAGR and is expected to reach at USD 249 billion by the end of forecast period.
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Major Key Players in Cloud Service Market are:
The prominent players in the Cloud Service Market are Google (U.S.), Amazon.com, Inc. (U.S.), Microsoft Corporation (U.S.), International Business Machines Corporation (U.S.), Hewlett-Packard (U.S.), Salesforce.com (U.S.), Oracle Corporation (U.S.), VMware, Inc.(U.S.) , Cisco Systems, Inc. (U.S.), Verizon Wireless (U.S.), and Rackspace Inc. (U.S.) among others.
Public Cloud Service Market Segmentation
Public Cloud Service Market has been segmented on the basis of delivery model, vertical and end user. Looking through the delivery model it has been observed that software as a service (SaaS) has shown a substantial increase in Public Cloud Service sector. Considering the vertical of public cloud service the IT sector is the leading in Public Cloud Service market. Industries such as telecommunication, banking and insurance are showing a positive growth towards Public Cloud Service. The study reveals that Public Cloud Service Market is more at an enterprise level but the market trend shows that there would be an increase in small and medium businesses by the forecast period.
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Market Research Analysis:
Market Research Future Analysis shows that there are many small organizations which are lagging as they are still figuring out ways to adopt the public cloud services into their IT strategy. But there is an expectation of sudden hike in public cloud service market in small and medium business over the forecast period. It has been observed that many companies are investing in innovation so as to adopt the trending cloud service. The major benefits of public cloud service are pay-as-per usage, flexibility, location independence and others. These factors would definitely increase the public cloud service market very soon.
On geographic basis, Public cloud service market is studied in different regions as Americas, Europe, Asia-Pacific and Rest of world. It has been observed that North America region is leading in the public cloud service market. Many companies like IBM, Microsoft, Google and others headquartered in United States are the major contributors to the public cloud service. United States is the leading country in the public cloud service market. Study shows that Asia-pacific countries like Japan, South Korea, China and other would show a positive growth in the public cloud service market.
Access the market data and market information presented through more than 25 market data tables and 25 figures spread over 110 numbers of pages of the project report “Public Cloud Service Market – Forecast 2022”
LIST OF TABLES
TABLE 1 PUBLIC CLOUD SERVICE MARKET, BY DELIVERY MODEL
TABLE 2 PUBLIC CLOUD SERVICE MARKET, BY VERTICAL
TABLE 3 PUBLIC CLOUD SERVICE MARKET, BY END-USER
TABLE 4 PUBLIC CLOUD SERVICE MARKET, BY REGIONS
TABLE 5 NORTH AMERICA PUBLIC CLOUD SERVICE MARKET, BY DELIVERY MODEL
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