Press release
Cloud Computing Market to Grow at 15% CAGR from 2022-2032
The global rise of the cloud computing industry is being driven by the growing adoption of cutting-edge technologies such as machine learning, big data, and artificial intelligence. Furthermore, increasing demand for flexibility, scalability, risk mitigation, and the simplification of infrastructure difficulties are major drivers of market expansion.
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Analysis of Global Cloud Computing Market Revenue
The demand for cloud computing solutions surged by 12% from 2015 to 2021, driven by the increasing virtualization across various industries to streamline workflows. Amid the COVID-19 pandemic, cloud computing witnessed a substantial uptick as remote working became prevalent, necessitating the adoption of SaaS, IaaS, and PaaS solutions. This shift towards remote work is anticipated to persist in the coming years. With the escalating volume of data processing, companies are integrating advanced technologies like AI, machine learning, and AR, further bolstering reliance on cloud ecosystems, expected to grow at a 15% CAGR from 2022 to 2032.
Growing Adoption of Hybrid Cloud Computing Services
The increasing utilization of hybrid cloud presents a significant opportunity for market expansion. Benefits such as efficient workload management, integration within DevOps teams, and heightened security are driving demand for hybrid cloud computing services. SMEs, attracted by features like on-demand availability and minimal initial infrastructure costs, are increasingly adopting these services. Particularly prevalent in industries like BFSI, healthcare, and government, hybrid cloud adoption is on the rise. Established players are seizing this momentum to strengthen their presence, exemplified by IBM's acquisition of Bluetab Solutions Group in 2021, aimed at bolstering its data and hybrid cloud market presence in Europe and Latin America.
List of Key Companies Profiled in The Report
• Adobe Inc.
• Alibaba Group Holding Limited
• com Inc.
• Google LLC
• IBM Corporation
• Microsoft Corporation
• Oracle Corporation
• com Inc.
• SAP SE
• Others
Recent Industry News
Staying informed about the latest developments is key to navigating the rapidly evolving cloud computing market. This segment highlights recent industry news that has made waves in the sector. From major partnerships and acquisitions to significant product launches and strategic collaborations, readers gain valuable insights into the dynamic shifts occurring within the cloud computing ecosystem.
Notable Developments
The cloud computing market is marked by continuous innovation and notable developments that influence its trajectory. This section spotlights recent advancements, breakthroughs, and paradigm shifts within the industry. Whether it's the introduction of novel cloud architectures, advancements in cloud security protocols, or the evolution of cloud-based services, these notable developments underscore the dynamic nature of the cloud computing market.
Competitive Landscape
In the competitive landscape of the global cloud computing market, key players are implementing various strategies to expand their global footprint and solidify their market leadership. Initiatives such as acquisitions, partnerships, and collaborations are prevalent, aiming to enhance market presence and drive innovation. Recent developments among prominent players include:
• In February 2022, IBM announced a collaboration with SAP to facilitate clients in adopting a hybrid cloud approach. This partnership focuses on migrating mission-critical workloads from SAP solutions to the cloud, catering to regulated and non-regulated industries.
• Microsoft Corporation partnered with ZEISS Group in October 2020 to enhance patient care and manufacturing quality through data solutions. ZEISS Group adopted Microsoft Azure as its cloud platform to deliver digital experiences to its German counterpart.
• In January 2020, IBM Corporation unveiled the Advertising Accelerator with Watson, a predictive solution leveraging AI. This innovative offering assists marketers and advertisers in understanding customer preferences by providing insightful campaign recommendations.
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