The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

1. Introduction

• Rapid growth in the professional cloud services market.
• Expected rise from $29.41 billion in 2023 to $34.56 billion in 2024 at a CAGR of 17.5%.

2. Driving Forces

• Digital transformation initiatives as primary drivers.
• Cost efficiency and globalization of businesses.
• Increasing data volumes and focus on business continuity.
• Rise in remote work contributing to market expansion.

3. Projected Growth

• Forecasted to reach $68.07 billion in 2028 at a CAGR of 18.5%.
• Influenced by edge computing expansion.
• Industry-specific solutions gaining traction.
• Focus on sustainability and enhanced data governance.
• Increased use of containers and microservices shaping the market landscape.

4. Major Trends

• Hybrid and multi-cloud deployments on the rise.
• Cloud migration and modernization strategies.
• Emergence of managed cloud services.
• Heightened focus on cloud security.
• Integration of edge computing and fog computing.
• Adoption of serverless computing.
• Increasing use of containers and Kubernetes orchestration.
• Exploring possibilities in quantum computing.

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https://www.thebusinessresearchcompany.com/report/professional-cloud-services-global-market-report

5. Role of Digital Transformation

• Growing emphasis on digital transformation initiatives fuels market growth.
• Professional cloud service providers pivotal in aiding businesses in their digital journeys.
• Assistance in strategy and technology planning.
• Survey by Software AG highlights widespread investment in digital transformation.

6. Key Players

• Amazon Web Services Inc.
• Cisco Systems Inc.
• Oracle Corporation
• Microsoft Corporation
• Accenture PLC
• International Business Machines Corporation (IBM)
• Deloitte Touche Tohmatsu Limited
• Ernst & Young Global Limited
• PricewaterhouseCoopers International Limited
• Hewlett Packard Enterprise Company
• Wipro Limited
• Tata Consultancy Services Limited
• Capgemini SE
• Fujitsu Limited
• Nippon Telegraph and Telephone Data Corporation (NTT Data Corporation)
• And more.

7. Innovations in Professional Cloud Services

• Focus on innovative services to meet evolving demands.
• Infosys and SAP partnership introduces leads and proposals solution.
• Utilizes predictive analytics and SAP Business Technology Platform.
• Benefits include cost reduction and improved lead conversion.

8. IBM’s Strategic Move

• IBM strengthens hybrid cloud and AI strategies with Neudesic acquisition.
• Acquisition aims to expand hybrid multi-cloud services portfolio.
• Neudesic’s expertise to bolster IBM’s position in the professional cloud services market.

9. Market Segmentation

• Service types: Consulting, application development and modernization, implementation and migration, integration and optimization.
• Service models: Platform as a Service (PaaS), Software as a Service (SaaS), Infrastructure as a Service (IaaS).
• Deployment types: Public, private, hybrid.
• Organization sizes: Small and medium-sized enterprises (SMEs), large enterprises.
• End-user industries: Manufacturing, healthcare, retail, IT and telecommunications, government, media and entertainment, BFSI, and others.

10. Regional Dynamics

• North America leads the professional cloud services market in 2023.
• Asia-Pacific poised for rapid growth during the forecast period.

11. Conclusion

• Professional cloud services witness exponential growth driven by digital transformation initiatives.
• Market innovations and strategic acquisitions redefine service offerings and capabilities.
• Continued focus on sustainability, data governance, and security essential for market sustainability.
• Regional dynamics reflect shifting trends in cloud adoption and technological advancements.

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The Professional Cloud Services Global Market Report 2024  provides an overview of the professional cloud services market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The professional cloud services market forecast analyzes professional cloud services market size, professional cloud services market share, leading competitor and their market positions.

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