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The cloud services market has demonstrated steady growth, moving from $452.59 billion in 2023 to $475.04 billion in 2024, exhibiting a compound annual growth rate (CAGR) of 5.0%. This growth in the historic period is credited to increased internet penetration, the growing adoption of cloud services in SMEs, technological advancements, an emphasis on reducing IT infrastructure costs, government initiatives, and a low-interest rate environment. Looking ahead to 2028, the market is poised for robust growth, reaching $666.01 billion with a CAGR of 8.8%. The forecasted growth in the coming years can be attributed to the rising adoption of cloud services in developing regions, the impact of the COVID-19 outbreak, the surge in smart cities, and the increasing penetration of e-commerce. Notable trends during this period include a heightened focus on virtual desktop solutions, the implementation of artificial intelligence (AI), collaborations with other cloud service providers, research and development in quantum computing, the inclusion of public cloud platforms in service offerings, investments in research and development for innovations, and the construction of green data centers or outsourcing cloud services with green data centers to save costs.

The cloud services market is anticipated to grow, propelled by the increasing adoption of online gaming. Online gaming, referring to video games played over the internet or computer networks, relies on cloud services to provide platform-independent gaming experiences with enhanced accessibility, scalability, cost-effectiveness, and convenience. A blog shared by CyberCrew UK in March 2023 reported a 63% growth in UK gamers since the 2021 lockdown, with consumers spending $5.2 billion on video games in 2020—a significant increase leading to the first-time surpassing of $5 billion in video game sales in the UK. The projected revenue for 2025 is expected to reach $7.6 million, highlighting the substantial impact of the growing adoption of online gaming on the cloud services market.

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What Are The Key Trends That Influence Cloud Services Market Share Analysis?

The introduction of new tools is a significant trend in the cloud services market. These tools encompass the infrastructure, platforms, or software hosted by third-party providers and accessible via the internet. In September 2022, Google LLC launched new data and analytics capabilities for its data cloud, including new data sharing and data lake platforms designed to enable users to access more data at lower costs and overcome common data utilization barriers.

Which Market Players Are Driving Growth In The Cloud Services Market?

Major companies operating in the cloud services market report are Amazon, Microsoft Corporation, IBM Corporation, Oracle Corporation, Dell Technologies Inc., Salesforce, SAP, Alphabet Inc., Alibaba Group Holding Limited, Nippon Telegraph And Telephone Corp, Kingsoft Corporation, UCloud Information Technology, Tencent Cloud, KingCloud, Fujitsu Ltd., Hitachi Ltd., KDDI Corporation, Infosys Technologies Ltd., Tata Consultancy Services, Cisco Systems, Zenith Infotech Limited, DigitalOcean, Inc., Wipro Ltd, NetApp India Pvt Ltd., SAVVIS Australia Pty Ltd, OVH, CloudSigma AG, Capgemini SE, Castleton Technology PLC, Caretower Ltd, Niu Solutions, HPE United Kingdom, SiteGround, CROC Incorporated, Servionica, Comarch, Onlanta Ltd., Red Hat, Inc., Google LLC, Adobe Inc., Claro, Locaweb, AllCloud Platforms Ltd, Commtouch, Visual Tao, Libox, LiveRoute

How Is The Global Cloud Services Market Segmented?

The cloud services market covered in this report is segmented –

1) By Type: Software as a service (SaaS), Platform as a service (PaaS), Infrastructure as a service (IaaS), Business Process as a service (BPaaS)
2) By Deployment Model: Public Cloud, Private Cloud, Hybrid Cloud
3) By Organisation Size: Large Enterprises, Small And Medium Enterprises
4) By Application: Storage, Backup, and Disaster Recovery, Application Development and Testing, Database Management, Business Analytics, Integration and Orchestration, Customer Relationship Management, Other Applications
5) By End-User Industry: BFSI, Media And Entertainment, IT and Telecommunications, Energy And Utilities, Government And Public Sector, Retail And Consumer Goods, Manufacturing, Other End User Industries

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

The Table Of Content For The Cloud Services Market Include

1. Cloud Services Market Executive Summary
2. Cloud Services Market Segments
3. Cloud Services Market Size And Template Market Growth Rate
4.  Key Cloud Services Market Trends
5. Major Cloud Services Market Drivers
……
25. Key Mergers And Acquisitions In The Cloud Services Market
26. Top Cloud Services Companies
27. Cloud Services Market Opportunities And Strategies
28. Cloud Services Market, Conclusions And Recommendations
29. Appendix

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