Learn about the global cloud services market through The Business Research Company, which provides information on cloud services market size, cloud services market drivers and restraints, cloud services market players, the COVID-19 impact on the cloud services market, and more.

The global cloud services market size is expected to grow from $394.70 billion in 2021 to $455.70 billion in 2022 at a compound annual growth rate (CAGR) of 15.5%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The cloud service market is expected to reach $776.13 billion in 2026 at a CAGR of 14.2%.

The uncertainty surrounding the duration of the spread of coronavirus is expected to lead to more companies adopting cloud technology to support their employees working from home, thereby driving the market growth.

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The cloud services market consists of sales of cloud services by entities (organizations, sole traders and partnerships) that provide cloud services used for the delivery of information technology resources and applications on-demand through an internet platform. Companies in the cloud services market provide access to servers, storage, databases and a broad set of application services managed by a hardware networking. This market includes sales of storage servers which are used to store, access, secure and manage digital data, files and services. It also includes sales of public cloud services, private cloud services, hybrid cloud services and multi-cloud services offered by providers are included.

Global Cloud Services Market Segments Include:

By Type: Software as a Service (SaaS), Platform as a Service (PaaS), Infrastructure as a Service (IaaS), Business Process as a Service (BPaaS) 

By End-User Industry: BFSI, Media and Entertainment, IT and Telecommunications, Energy and Utilities, Government and Public Sector, Retail and Consumer Goods, Manufacturing, Others

By Application: Storage, Backup, and Disaster Recovery, Application Development and Testing, Database Management, Business Analytics, Integration and Orchestration, Customer Relationship Management, Others

By Deployment Model: Public Cloud, Private Cloud, Hybrid Cloud

By Organisation Size: Large Enterprises, Small and Medium Enterprises

By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America was the largest region in the cloud services market in 2021.

Cloud service providers are increasingly using artificial intelligence to increase the efficiency and speed of cloud computing services. Artificial intelligence leverages computers and machines to mimic the problem-solving and decision-making capabilities of the human mind. Using AI in cloud services can increase productivity and efficiency while automating repetitive tasks and supporting human capabilities. The advantages of using AI for cloud-based services include lowering adoption costs, facilitates co-creation, innovation, and driving AI-powered transformation for enterprises. Cloud service providers can use AI-powered network security tools to track and evaluate network traffic.

TBRC’s cloud services market report covers:

Major Market Players: Microsoft, Amazon.com Inc., SAP SE, International Business, Machines Corporation, Nippon Telegraph And Telephone Corp, Intel Corporation, Dell Technologies Inc., Apple, Tencent Holdings Co Ltd and Orange SA.

Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.

Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Time Series: Five years historic (2016-2021) and ten years forecast (2022-2026-2031)

The Cloud Services Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides cloud services market overviews, analyzes and forecasts market size, share, cloud services market players, cloud services market segments and geographies, leading competitor revenues, profiles and market shares.

TBRC’s cloud services market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Here Is A List Of Similar Reports From The Business Research Company:

Platform As A Service (PaaS) Global Market Report 2022

Business Process As A Service (BPaaS) Global Market Report 2022

Software As A Service (SaaS) Global Market Report 2022

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