Global Public Cloud Market Size By Service Model Type (Infrastructure as a Service, Platform as a Service), By Organization Size Type (Large Enterprises, Small and Medium Enterprises), By Application Type (BFSI, Telecommunication), By Geographic Scope And Forecast

Public Cloud Market Size And Forecast

Public Cloud Market size is valued at USD 501.02 Billion in the year 2022 and it is expected to reach USD 1,685.52 Billion in 2030, growing at a CAGR of 16.1% from 2023 to 2030.

It's pretty clear that big data, AI, ML, and all those cool, new technologies are going to supercharge industry growth. Think about itthey're letting us actually see, track, and really dig into raw data, which is a total game-changer for the public cloud. When you pair these technologies with what the cloud offers, businesses can suddenly do so much more with complex data – it's more accessible, more useful, and easier to visualize. Plus, with AI becoming more widespread, businesses are eating up more data than ever, but storage isn't the headache it used to be. On top of all that, these technologies are helping companies cut costs, become more efficient, and make smarter calls. Businesses are really leaning into AI-powered solutions to get better at everything from day-to-day operations to big-picture strategy and, of course, getting those all-important insights.

AI is great because it can automate those boring, time-sucking tasks, letting us be more productive and analyze data without having to do everything by hand. With big data, AI, and ML all working together, cloud companies are constantly pushing the envelope with R&D, new features, and exciting new products. IT folks can even use AI to keep an eye on important stuff and make sure everything's running smoothly. And get this – according to what we've heard, Microsoft just launched Azure Health Services. It's like a platform-as-a-service (PaaS) that can handle a ton of analytical and transactional work. It's specifically designed to work with PHI, grabbing health data and using AI in the cloud. Basically, expect to see big data, AI, and ML everywhere soon, which should really help the Public Cloud Market take off!

Global Public Cloud Market Definition

The Public Cloud Market is the term used to describe the delivery of computing resources, such as virtual machines, storage, and applications, via the Internet by outside service providers. In order to satisfy their computing demands, people, groups, and businesses can use shared infrastructure and services rather than spending money on and maintaining their own physical equipment. Users benefit from the scalability, flexibility, and cost-effectiveness of public cloud services since they are supplied on a pay-as-you-go basis. Offering on-demand access to a variety of computing resources is the Public Cloud’s main purpose.

These resources may include storage, databases, networking, virtual machines, and software applications. Users can scale up or down these resources as necessary by provisioning and configuring them in accordance with their requirements. Users may install and execute apps on the public cloud without relying on on-premises infrastructure, which allows quick development and deployment cycles. Scalability is one of the Public Cloud’s primary benefits. Users may quickly grow their infrastructure and apps in response to demand thanks to the elastic resources offered by public cloud providers.

This scalability is especially advantageous for companies with uncertain growth patterns or shifting workloads. Additionally, since customers only pay for the resources they use, public cloud services do not require up-front capital investments, which save money and provide financial flexibility. The Public Cloud’s accessibility and global reach are additional benefits. Users may deploy their apps and services closer to their target audience by using public cloud provider’s data centers, which are spread out throughout various areas of the world. The whole user experience is enhanced by the low latency and high availability provided by this worldwide presence.

Think of the Public Cloud like a toolbox brimming with resources! It offers redundancy and disaster recovery baked right in, keeping your data safe and your operations humming. You'll find all sorts of Public Cloud services tailored to fit different needs. For example, with Infrastructure as a Service (IaaS), you get virtualized computing power like virtual machines, storage, and networks to play with. Then there's Platform as a Service (PaaS), which gives you a more sophisticated development environment packed with frameworks and tools to help you build and launch apps faster. And let's not forget SaaS (Software as a Service)! This delivers complete, ready-to-use software over the internet, so you can ditch those pesky local installations and maintenance headaches.

Global Public Cloud Market Overview

So, what's driving the huge popularity of public cloud services? Well, there are a few big reasons! For starters, everyone's craving scalable and flexible computing. Businesses, no matter how big or small, need to be able to quickly adjust their infrastructure based on demand. Public clouds make this easy – think of it as instant on-demand scalability! You can crank up your resources when things get crazy busy, and dial them back down when things are quiet, all without having to sink a ton of money into expensive hardware. And let's not forget about the cost! Public cloud services are usually pay-as-you-go, so you're only paying for exactly what you use, which can really save you some serious cash.

As a result, there is no longer a need for up-front capital investments, and the price of maintaining and updating physical infrastructure is decreased. Businesses may also connect their spending with their actual consumption thanks to the pay-per-use pricing model, which optimizes cost management and increases total financial flexibility. A further factor boosting the use of Public Cloud services is the expanding trend of digital transformation and the requirement for agile software development and deployment. Organizations are depending more and more on cloud-based platforms and services to quicken application development cycles, boost teamwork, and increase overall effectiveness.

With the Public Cloud, developers can really hit the ground running! It's got a huge toolbox packed with tools, frameworks, and ready-to-go services for creating, testing, and deploying applications in a flash. But, it's not all sunshine and rainbows; there are a few things to watch out for that could affect the public cloud scene. Data security and privacy are big ones. If you're storing and moving your data in the public cloud, you need to make absolutely sure it's locked down tight. Complying with those data protection laws can be a real headache, and keeping tabs on sensitive info can be tricky, especially if your business has super strict rules. Plus, you're totally reliant on the internet. Without a solid, speedy internet connection, accessing and using those cloud goodies becomes a major pain.

Okay, so getting to public cloud services can be tough if your internet is unreliable. But, there's still tons of opportunity for growth in the public cloud world! More and more companies are embracing hybrid and multi-cloud setups, which means they can grab the best parts of both public and private clouds. Plus, public cloud providers are putting money into cool stuff like AI, machine learning, and the Internet of Things to give you the latest and greatest. And as more businesses go digital, there's a huge number of companies just waiting to move their stuff to the cloud.

Global Public Cloud Market Segmentation Analysis

The Global Public Cloud Market is segmented on the basis of Service Model Type, Organization Size Type, Application Type, and Geography.

Public Cloud Market, By Service Model Type

• Infrastructure as a Service
• Platform as a Service
• Software as a Service

Based on Service Model Type, the market is segmented into Infrastructure as a Service, Platform as a Service, and Software as a Service. Software as a service segment holds a significant market share in 2022. Due to its flexible pricing, simple maintenance, and large company scale. According to industry estimates, more businesses are migrating to the cloud, with 73% of businesses shifting nearly all of their applications to SaaS platforms. Additionally, data from enterprise users reveals that consumer expenditure on business intelligence is approximated.

The PaaS category is anticipated to increase significantly throughout the forecasted period. In contrast to IaaS, PaaS also contains development tools, middleware, business intelligence (BI) services, and database management systems in addition to infrastructure elements like servers, networking, and storage. Additionally, with the development of technologies like machine learning, the Internet of Things, and container-as-a-service, PaaS services are expanding quickly.

Public Cloud Market, By Organization Size Type

• Large Enterprises
• Small and Medium Enterprises

Based on Organization Size Type, the market is segmented into Large Enterprises and Small and Medium Enterprises. Small and Medium Enterprises segment dominated the Public Cloud Market with the highest market share in 2022. Large businesses have been the primary adopters because they have lower operational expenses, greater teamwork, more flexibility, and faster time to market. Until recently, businesses used the cloud to create apps and rehost infrastructure, but today they use it to update key business procedures and applications.

The flexible pricing models provided by CSPs, the increase in employee productivity, and the enhancement of cooperation and creativity, however, have led to the SME segment emerging as the market’s largest stakeholder. SMEs play a crucial role in utilizing technology for a variety of purposes, including marketing, financial management, project management, and customer connection building. However, monitoring and optimizing expenses, creating guidelines for its usage, and determining which cloud to employ are the top priorities for businesses embracing the cloud.

Public Cloud Market, By Application Type

• BFSI
• Telecommunication
• IT & ITeS
• Government & Public Sector
• Retail & Consumer Goods
• Manufacturing
• Others

Based on Application Type, the market is segmented into BFSI, Telecommunication, IT & ITeS, Government & Public Sector, Retail & Consumer Goods, Manufacturing, and Others. The BFSI segment dominated the Public Cloud Market with the highest market share in 2022. Due to the use of cloud services for managing and storing client data. Interoperability, safe storage, and round-the-clock availability have aided the BFSI sector’s increased emphasis on customer-centric business models and the digitization of commerce and wealth.

The BFSI sector will also be significantly impacted by services like payment gateways, online fund transfers, digital wallets, and unified user experiences, which will facilitate the entire transition to public cloud solutions. Due to advantages like seamless data management and real-time visibility provided by this technology, the manufacturing sector is predicted to be the leading adopter of cloud services. Additionally, this computer technology will significantly contribute to the democratization and enablement of new industrial production systems like generative design and 3D printing.

Public Cloud Market, By Geography

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

So, when we look at where the Global Public Cloud Market is happening, it pretty much breaks down into North America, Europe, Asia Pacific, and then, well, the rest of the world. And guess what? North America totally dominated in 2022! Why? Well, you've got a ton of big players like IBM Corporation, Amazon.com Inc., Oracle Corporation, and Microsoft Corporation all fighting for a piece of the pie. Plus, everyone there seems super eager to jump on the latest tech trends, which helps them stay ahead. Oh, and get thisover half of the US government is already using these cloud services!

Europe's become a real hotbed for cloud tech, especially for banks! We're talking billions of dollars flowing in from everywhere. But hey, don't count out Asia Pacific – it's looking like the fastest-growing market. The rapid rise of China and India, plus the emergence of companies like Alibaba Group, have really shaken things up. Plus, the big guys – Azure, Amazon Web Services (AWS), and Google LLP – they're building data centers in places like Indonesia and Thailand to keep governments happy with their data sovereignty rules.

Key Players

The “Global Public Cloud Market” study report will provide valuable insight with an emphasis on the global market including some of the major players of the industry are AWS, Microsoft, Google, Salesforce, Alibaba Cloud, Oracle, IBM, SAP, Tencent, Adobe.

Our market analysis offers detailed information on major players wherein our analysts provide insight into the financial statements of all the major players, product portfolio, product benchmarking, and SWOT analysis. The competitive landscape section also includes market share analysis, key development strategies, recent developments, and market ranking analysis of the above-mentioned players globally.

Key Developments

• In October 2022, UBS and Microsoft announced a landmark expansion of their partnership to accelerate UBS’s public cloud footprint over the next five years. Through this transformational initiative, UBS plans to have more than 50% of its applications, including critical workloads, running on Microsoft Azure, now UBS’s primary cloud platform. The partnership furthers UBS’s “cloud-first” strategy and the modernization of its global technology estate.
• In September 2022, to support the whole Salesforce Customer 360 platform, Salesforce announced Salesforce Genie, a hyperscale real-time data engine. Every business can use Genie to transform data into customer magic and offer seamless, highly customized experiences in sales, service, marketing, and commerce that dynamically adjust to changing customer information and wants in real-time.

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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors.
• Provision of market value (USD Billion) data for each segment and sub-segment.Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market.
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region.
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled.
• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players.
• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions.
• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis.
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