Global Private Cloud Services Market inferred to increase at 21% CAGR between 2017 and 2023 due to growing cloud adoption among SMEs
Private cloud is similar to the public cloud, but it is dedicated to the requirements of a single organization. Market Research Future (MRFR) has published a research report on the global private cloud services market that infers huge increase for this market at 21% CAGR (Compound Annual Growth Rate) between 2017 and 2023.
The really vital factor for the global private cloud services market growth is their ability to address the dynamic or unpredictable computing needs of businesses or enterprises.The second factor carrying out the market growth is small and medium enterprises (SMEs) switching over to the private cloud services that can be charged on the basis of subscription or pay-per-use. Other factors the strengthen the market growth include increasing inclination towards cloud services for secured data, growing demand for low cost & secured information technology (IT) operations, increasing cloud adoption across various industrial verticals, and lack of IT infrastructure in underdeveloped nations of Africa and the Asia Pacific. However, factors that can make the market growth hit brakes include higher initial cost for installation and lack of technical expertise.
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The global private cloud services market segmentation segments the market into organization size, industry, services, and lastly, region. Based on organization size, this market has been segmented into SMEs and large enterprises. As per industry-based segmentation, the market has been segmented into banking, financial services & insurance (BFSI), education, government, healthcare, IT & telecommunication, manufacturing, media & entertainment, retail, and others. Regarding service, the market has been segmented into infrastructure as a service (IaaS), platform as a service (PaaS), and software as a service (SaaS).
The regional segmentation of the global private cloud services market can segment the market into regional markets known as Asia Pacific, Europe, North America, and rest of the world (RoW). North America is leading the regional market due to technological advancement, availability of strong IT infrastructure, early adoption of cloud-services across various industrial sectors as well as domains, and lastly, presence of major market players in countries like USA and Canada. Mexico is another important country-specific market in this region. In Europe, the important country-specific markets are France, Germany, and the UK. Market is growing here due to technological advancement, strong IT infrastructure, and the presence of some key market players.
The key players in the global Private Cloud Services Market include Amazon Web Services (USA), Cisco Systems Inc. (USA), Dell Inc (USA), Hewlett Packard Enterprise Company (USA), Microsoft Corporation (USA), International Business Machines Corporation (USA), Rackspace Inc. (USA), Oracle Corporation (USA), Red Hat Inc. (USA), and Salesforce.com Inc (USA).
The Asia Pacific region can rise as a regional market at a rapid growth during the forecast period. Same goes for Europe. In the Asia Pacific region, the market is growing due to many large enterprises are establishing their bases for the countries here in order to provide the services at a minimal cost and in an effective manner. IT industry is also growing rapidly in China and India. In terms of technological advancement, another important country-specific market is Japan, followed by the remaining countries of the Asia Pacific region.
The RoW segment lists Latin countries and the Middle East & Africa (MEA). In the MEA region, the market is limited due to most countries being poor, lack of infrastructure, lack of awareness, lack of advanced technology, lack of education, and lack of skilled professionals. The market comprising of Latin countries is small because the availability of advanced technology is limited in this region. Argentina and Brazil are two strong economies that have the potential to rise as lucrative markets in the future.
Latest Industry News
Data center and cloud services provider TierPoint has released its hosted private cloud service powered by Nutanix. 15 APR 2019
Nutanix and HPE are set to forge a partnership on private cloud service and hyper-converged appliances. HPE GreenLake will offer a pay-as-you-go private cloud service that would run on Nutanix’s Enterprise Cloud OS software. 9 APR 2019
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LIST OF TABLES
Table1 World Population By Major Regions (2017 To 2030)
Table2 Global Private Cloud Services Market: By Region, 2017-2023
Table3 North America Private Cloud Services Market: By Country, 2017-2023
Table4 Europe Private Cloud Services Market: By Country, 2017-2023
Table5 Asia-Pacific Private Cloud Services Market: By Country, 2017-2023
LIST OF FIGURES
FIGURE 1 Global Private Cloud Services Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Five Forces Analysis Of Global Private Cloud Services Market
FIGURE 4 Value Chain Of Global Private Cloud Services Market
FIGURE 5 Share Of Global Private Cloud Services Market In 2017, By Country (In %)
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