The cloud computing market will witness a healthy growth from 2018 to 2024, a research report suggests. Growing at a CAGR of 19.4%, the market is projected to reach US$340.5 billion by 2024. The growing return on investment is expected to support the market growth along with lower infrastructure and storage costs. As predicted by analysts, complex regulatory and compliance policies will negatively affect the market’s performance from 2018 to 2024. During the forecast period, the market will be supported by advancements in technology and high demand across industry verticals.
The need to meet regulatory and compliance on the other hand will challenge computing services sector based organizations functioning in the global cloud computing market. Analysts have split the market into deployment model, organization size, service model, and vertical segments based on products and services. Computing services based companies have been profiled. The changing market needs are set to affect the global market during the forecast period 2018 to 2024. The report also provides the market’s performance forecasts till 2024. Analysts have studied the strategy of computing services segment based organizations to help new entrants and established businesses. The computing services sector itself is supported by the rising industrialization as well as the growing urbanization. During the forecast period 2018 to 2024, the cloud computing market is set to witness a health growth across deployment model, organization size, service model, and vertical segments as well as regional markets.
The computing services sector has seen growth across deployment model, organization size, service model, and vertical segments owing to a rise in the disposable income and the surging usage across different industries. To study the market, analysts have further segmented deployment model, organization size, service model, and vertical into SaaS, PaaS, and IaaS on the basis of service model. The market is further segmented into deployment sub segment which is split into public, private and hybrid. Additionally, the cloud computing market on the basis of organization size is segmented into large enterprises, small & medium enterprises. The market is further segmented into vertical sub segment which is split into BFSI, energy & utility, government & public sector, healthcare & life sciences, IT & telecommunication, manufacturing, media & entertainment, retail and consumer goods, and others.
The segmental analysis presented in the report provides computing services field based organizations insights into key growth factors such as the rapidly growing population as well as challenges such as rising data breaches the market will face from 2018 to 2024. Technological advancements and the growing application areas are some of the key factors having an influence on computing services industry based companies, suggest analysts as per the cloud computing market report. But the report also identifies increasing data security issues and the lack of investments in R&D as major threats companies in computing services will face till 2024.
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Computing services market based companies in the cloud computing market are functioning across North America, Europe, Asia Pacific, the Middle East, and Africa including the rest of the world. Favorable policies across regional markets will be a key growth driver for regional markets. However, the lack of investments in research and development will turn out to be a threat. For the forecast period 2018 to 2024 each of these regional markets are studied in the report. Starting from North America, the regional market and computing services vertical based companies are spread across the United States, Canada, and Mexico.
The lack of demand from developing countries will turn out to be a major challenge from 2018 to 2024. Parts of the European market covered in the report are regional markets spread across the United Kingdom, France, Italy, and Germany. The market in the region will be benefitted by the increasing demand from various industry verticals as well as the changing social behaviour, suggests the report. Similarly, the computing services sector’s segmental analysis for the Asia Pacific region covers India, Japan, China, and others. For the rest of the world, the research report for the cloud computing market covers the Middle East and Africa. Forecast based on the report’s findings are presented for the forecast period till 2024.
The global cloud computing market research report brings a comprehensive study of deployment model, organization size, service model, and vertical market segments, regional analysis, and computing services vertical based company details of key players. As the forecast period 2018 to 2024 will bring new opportunities for the market owing to consumers aiming for more convenience and the presence of effective communication, the market is set to grow at a compound annual growth rate of 19.4% and is predicted to reach a value of US$340.5 billion by 2024. With SWOT analysis of computing services sector based companies and Porter’s Five Force model analysis based findings, and understanding challenges such as the high cost of product and maintenance and the lack of effective communication, companies in the computing services sector can change the way business is done.
F5 Networks has agreed to buy cloud infrastructure startup Volterra Inc. for $440 million in cash and $60 million in potential consideration, bringing the Seattle-based application security and Distribution Company’s cumulative investment spending to more than $2 billion in the last two years. Volterra, headquartered in Santa Clara, California, provides a forum for edge computing across various clouds, where processing takes place close to sensor and data locations to minimise latency. In November 2019, the 125-person organisation, which was formed in 2017, came out of stealth mode.