Cloud computing: From 2022 to 2027, the cloud computing market is estimated to increase by USD 429.6 billion. During the projection period, the market’s growth velocity will increase at a CAGR of 17.32%. Market expansion would be hampered by factors such as vendor lock-in and operational complexity.
Vendor lock-in happens when a client is unable to readily switch to another vendor’s product or service. This makes switching from a private cloud platform to a public cloud service provider difficult. Furthermore, each vendor may support a different set of languages, libraries, APIs, architecture, or operating systems. The changeover procedure can be time-consuming, labor-intensive, and costly. It may even necessitate rebuilding or modifying a program to accommodate the new platform. As a result, vendor lock-in may impede the worldwide private cloud services market’s growth throughout the projection period.
Key market challenges for cloud computing
The rising use of containers will promote cloud adoption, driving the cloud computing industry growth. Containers and microservices are virtual machine (VM) alternatives. Containers are smaller than virtual machines and can encapsulate applications as well as all OS dependencies in a single package. They provide a great amount of transparency into application performance. Additionally, container and microservice architectures enable quick scaling. During the forecast period, these factors will drive market growth.
Few companies mentioned with their offerings
- Adobe Inc. – This corporation provides the Creative Cloud service, which includes apps, web services, and resources.
- Alibaba Group Holding Ltd. provides multi-model cloud-native databases as well as distributed cloud services.
- Alphabet Inc. – This corporation provides a variety of cloud computing services.
- Amazon.com Inc. – This corporation provides a variety of cloud computing services.
- Cisco Systems Inc. – With its cloud, the corporation provides cloud-neutral solutions as well as full-stack observability.
Market segmentation
The research divides the cloud computing market into deployment (public cloud and private cloud), service (SaaS, IaaS, and PaaS), and geography (North America, APAC, Europe, South America, and the Middle East and Africa). During the forecast period, North America will be the leading region, accounting for 50% of market growth. The United States and Canada are the two most important cloud computing markets in North America.
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What`s New for 2023?
- Special coverage of the Russia-Ukraine conflict; worldwide inflation; COVID-19 recovery study; supply chain interruptions, global trade tensions; and the likelihood of recession
- Competitiveness on a global scale and major competitor positions
- Strong/Active/Niche/Trivial market presence over many geographical regions
Frequently asked questions
How big is the cloud market in the US?
Cloud Computing Market in the United States 2023-2032
The cloud computing industry in the United States was worth USD 97.44 billion in 2022 and is expected to be worth USD 458.45 billion by 2032, with a CAGR of 16.8 percent from 2023 to 2032.
How big is the cloud computing market in 2030?
According to a recent analysis, the worldwide cloud computing industry is predicted to reach USD 1,554.94 billion by 2030, growing at a CAGR of 14.1% from 2023 to 2030
What is cloud computing and how it works?
Cloud computing, in its most basic form, is a set of services offered over the internet, or “the cloud.” It entails storing and accessing data on remote servers rather than depending on local hard drives and private datacenters.
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