Cloud Computing Market Size Worth $1,554.94 Billion by 2030: Grand View Research, Inc.

Read 130-page market research report, "Cloud Computing Market Size, Share & Trends Analysis Report By Service (IaaS, PaaS, SaaS), By Deployment (Public, Private, Hybrid), By Enterprise Size, By End Use (BFSI, IT & Telecom, Retail & Consumer Goods), By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Cloud Computing Market Growth & Trends

The outbreak of the COVID-19 pandemic is likely to impact businesses drastically, stifling innovation, suppressing profitability, and drying up cash flow and financial reserves. IT and software development industries have also been facing challenges due to this unforeseen outbreak. Although all the outcry of COVID-19 has produced personal, professional, and community life, it also presented business opportunities. Thus, cloud computing solutions will support teams in learning to collaborate, and businesses can realize they can function effectively without having people in the office. This scenario is expected to propel market growth. To maintain employee well-being and operational efficiency, a growing number of businesses across multiple verticals have adopted the work-from-home model, driving up demand for Software-as-a-Service (SaaS)-based solutions.

Organizations are adopting cloud computing services as they provide insights into partnering tactics, go-to-market approaches, investments, alliance and acquisition strategies, and best operational practices. Moreover, cloud computing services help measure, correlate, and analyze business activities and ensure that company operations are in line with the customer demands. To get significant business insights for decision-making, many firms are investing in big data, IoT, artificial intelligence, and 5G technologies. Big data technologies are becoming more popular because of the numerous advantages they provide, such as data integration, data segmentation, and business intelligence, to name a few. The growing need for analytics and big data technologies in cloud computing services is opening up plenty of new chances for the market to expand.

Key vendors in the market focus on introducing new cloud solutions, services, and workloads and upgrading of capabilities of their current offerings to strengthen their foothold in the market. Furthermore, vendors also engage in mergers and acquisitions to strengthen their market position and enhance their cloud capabilities. For instance, in October 2020, SAP SE announced an agreement to acquire Emarsys, an omnichannel customer engagement platform provider. The acquisition allowed SAP SE to add the Emarsys customer engagement platform into SAP S/4HANA and Experience Management technology. Emarsys technology would allow SAP Customer Experience solutions to link commerce signals with the back office and activate the preferred channel of the customer with a relevant and consistently personalized message, thereby enabling customers to choose their engagements.

Cloud Computing Market Segmentation

Grand View Research has segmented the global cloud computing market based on service, deployment, enterprise size, end use, and region:

Cloud Computing Service Outlook (Revenue, USD Billion, 2017 - 2030)

Cloud Computing Deployment Outlook (Revenue, USD Billion, 2017 - 2030)

Cloud Computing Enterprise Size Outlook (Revenue, USD Billion, 2017 - 2030)

Cloud Computing End-use Outlook (Revenue, USD Billion, 2017 - 2030)

Cloud Computing Regional Outlook (Revenue, USD Billion, 2017 - 2030)

List of Key Players in the Cloud Computing Market

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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