The global cloud engineering market is highly competitive. Various established international brands, domestic brands and as well as new entrants form a competitive landscape. The key players are nonstop increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective product portfolio. The Cloud Engineering Market is highly competitive due to the presence of several large vendors.
For instance, In July, 2017, Sogeti a subsidiary of Capgemini Group also global technology and engineering service provider has recently announced an agreement of 50 million euros with an energy network provider Enexis Group to transform more 200 enterprise applications to a public cloud environment.
The global cloud engineering market is expected to reach approximately USD 13 billion by the end of 2023 with 21% CAGR during forecast period 2017-2023.
The key players in the global cloud engineering market include- Trianz (US), Sogeti (Europe), GFT Technologies SE (Europe), Aricent Inc. (US), Rapidvalue Solutions Inc. (US), Engineering Ingegneria Informatica SpA (Europe), ITC Infotech India Ltd. (India), Calsoft Inc. (US), Nitor Infotech (India), VVDN Technologies (India) , Softcrylic LLC (US) and Searce Inc. (US), among others.
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Regionally, North-America accounted for the largest market share from countries such U.S., Canada and among others. The reason is attributed to the presence of large number of enterprises, advanced IT infrastructure and easy availability of technical expertise. However, Asia-Pacific region is expected to grow over the forecast period, 2017-2023. The reason is attributed to growing demand for high-end technology and increasing adoption of cloud computing solutions by various verticals such as retail and manufacturing among others.
The market can be bifurcated on the basis of service type, deployment type, organization size, end-users and region. On the basis of service of end-users the market can be segmented into retail, banking & finance, manufacturing, healthcare, retail & consumer goods, government and energy & utilities among others. Out of these, retail & consumer goods accounted for the largest market share majorly due to increasing data generation and the increasing need to improve customer satisfaction.
Cloud engineering is a form of application of various engineering disciplines for cloud computing. Also, cloud engineering brings a systematic approach to concerns of commercialization and standardization of cloud computing. It is basically the process of designing the systems.
Cloud engineering is a form of computing paradigm in which systems are connected through private or public networks so that it can provide dynamically scalable infrastructure for application and data security & storage. The approach is cost effective in nature.
The factors contributing to the growth of the cloud engineering market are increasing demand for tailored devices, high demand for concept testing before making any investments and increasing demand for adoption of cloud services. Also, the emergence of internet of things is expected to boost the growth of the market over the forecast period, 2017-2023. However, factors such as concern of regulatory compliance and the fear of losing data are hampering the growth of the cloud engineering market.
For the purpose of this study, Market Research Future has segmented the market of cloud engineering into service type, deployment type, organization size, end-users and region.
- Cloud Security
- Cloud Storage
- IT & Telecommunications
- Energy & Utilities
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- Device manufacturers
- Network Operators
- Research firms
- Software Developers
- Commercial Banks
- Semiconductor Manufacturers
- End-user sectorsTechnology Investors
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