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.

Big data, AI, ML, and other emerging technologies are expected to accelerate industry growth. Because they make it possible for users to track, examine, and visualize unprocessed data, these technologies are revolutionizing the public cloud industry. By combining these emerging technologies with cloud-based solutions, businesses may increase the accessibility and usefulness of complicated data while also enhancing their visualization capabilities. Businesses currently consume more data and have fewer storage problems as a result of the expanding usage of AL technologies. These technologies also help businesses save operating expenses, boost productivity, and make better decisions. To improve their operational, strategic, and insight-driven capabilities, businesses leverage solutions powered by Al.

Al has the ability to automate difficult and time-consuming tasks to boost productivity and do data analysis without the need for manual input. Organizations that provide cloud solutions and services are always concentrating on R&D initiatives, product updates, and new product launches because of the mix of big data, Al, and ML. Al can be used by IT workers to monitor and control crucial operations. Microsoft has apparently announced Azure Health sources Services, according to secondary sources. It is an analytical and transactional workload-handling platform as a service (PaaS). It exclusively takes Protected Health Information (PHI), gathers health data, and operates Al on the cloud. Therefore, it is projected that big data, AI, and ML will be utilized more widely, contributing to the rise of the Public Cloud Market.

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.

Additionally, a number of Public Cloud services come with built-in redundancy and disaster recovery features that guarantee data security and ongoing operations. Public Cloud services come in a variety of forms to meet the demands of different users. Virtualized computing resources including virtual computers, storage, and networks are made available through infrastructure as a service (IaaS). Platform as a Service (PaaS) provides a more advanced development environment with frameworks and tools to speed up the creation and deployment of applications. SaaS (software as a service) provides fully functional software applications over the Internet, eliminating the need for local installations and maintenance.

Global Public Cloud Market Overview

Several reasons that support the market for public cloud services are responsible for its expansion and wide acceptance. The growing need for scalable and flexible computing resources is one of the main motivators. All sizes of businesses need to be able to easily scale their infrastructure up or down in response to shifting demand. With on-demand scalability provided by public cloud services, businesses may simply increase their resources during busy times or decrease them during calmer times without having to make large upfront hardware expenditures. Cost-effectiveness is another motivator. Users of public cloud services pay only for the resources they use, according to a pay-as-you-go business model.

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.

Developers can quickly create, test, and deploy applications thanks to the Public Cloud’s large selection of tools, frameworks, and pre-built services. The market for public clouds might be impacted by a few limitations, though. Data security and privacy are two major issues. When using public cloud services for storage and transmission, organizations must make sure that their data is sufficiently safeguarded. It can be difficult to comply with data protection laws and to keep control over sensitive data, especially in businesses with rigorous requirements. The reliance on internet access is another restriction. Users of public cloud services must have steady, fast internet connections in order to access and utilize cloud resources.

Accessing Public Cloud services may be difficult in areas with spotty or unstable internet infrastructure. Nevertheless, there are lots of development prospects in the public cloud industry. Organizations may make use of the advantages of both public and private cloud environments thanks to the growing acceptance of hybrid and multi-cloud solutions. In order to deliver cutting-edge services and solutions that will satisfy changing client expectations, public cloud providers are also making investments in cutting-edge technologies like artificial intelligence, machine learning, and the Internet of Things (IoT). There is also a sizable untapped market of companies wishing to move their operations as more industries and sectors adopt digital transformation.

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

On the basis of Geography, the Global Public Cloud Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. North America region accounted for the highest market share in the Public Cloud Market in the year 2022. It is anticipated that the presence of multiple suppliers in the region, including IBM Corporation, Amazon.com Inc., Oracle Corporation, Microsoft Corporation, and others, as well as a stronger inclination to embrace new technologies, will aid these areas in maintaining their market positions. Additionally, it is predicted that more than 50% of American government organizations have implemented the services.

Additionally, the European nations have developed into a center for cloud technology development, especially in the banking industry, which draws billions of dollars in investment from all over the world. Over the course of the projection, Asia Pacific is probably going to become the market’s fastest-growing region. Recent years have had a significant influence on the expansion of the regional market due to the fast rise of China and India as well as the emergence of local firms like the Alibaba Group. Additionally, hyper-scale cloud providers like Azure, Amazon Web Services (AWS), and Google LLP are developing their data centers in countries like Indonesia and Thailand to accommodate the governments’ demands for data sovereignty.

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.
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• 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.
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