DUBLIN--(BUSINESS WIRE)--Apr 11, 2019--The "Cloud Services Global Market Opportunities And Strategies To 2022" report has been added to ResearchAndMarkets.com's offering.
This report describes and evaluates the global cloud service market (also known as the cloud computing market). It covers two five-year periods, 2014 to 2018, termed the historic period, and 2018 through 2022, the forecast period.
The global cloud services market reached a value of nearly $325.1 billion in 2018, having grown at a compound annual growth rate (CAGR) of 10.7% since 2014, and is expected to grow at a CAGR of 12.9% to nearly $528.4 billion by 2022.
Growth in the cloud services market in the historic period resulted from enterprises' increasing preference for shifting in-house IT infrastructure to third parties to minimize operational costs. Increased internet penetration, technology development, a low interest rate environment, and favorable government initiatives also drove the cloud services market.
The capital-intensive environment of the cloud services industry, which requires frequent investment in updating of IT infrastructure to stay efficient and competitive, government regulations, and cyber security concerns restrained the cloud services market in the historic period.
Going forward, increasing adoption of the Internet of Things, rising penetration of e-commerce, and the development of smart cities will drive cloud services market growth. Data localization, rising interest rates, and reductions in free trade could hinder cloud services market growth in future.
The cloud services market is segmented by type into software as a service (SaaS), business process as a service (BPaaS), infrastructure as a service (IaaS), and platform as a service (PaaS). Software as a service accounted for the largest share of the cloud services market in 2018 at 42.5%. The Infrastructure as a service market will be the fastest-growing segment going forward at a CAGR of 30.6%.
North America is the largest market for cloud service providers, accounting for 50.1% of the global market. It was followed by Western Europe, Asia-Pacific and then the other regions. Going forward, South America and Asia-Pacific will be the fastest growing regions in this market, where growth will be at CAGRs of 28% and 20.7% respectively. These will be followed by the Middle East and Africa where the markets will grow at CAGRs of 20.1% and 20.7% respectively.
The cloud services industry is fairly concentrated: a small number of large entities command significant market shares and a large number of small entities have minor shares. Players in the market include Microsoft, Amazon, International Business Machines Corporation, Nippon Telegraph and Telephone Corp, and Google.
The global IT services market, of which the cloud services market is the smallest segment, reached a value of nearly $2,229.8 billion in 2018, having grown at a CAGR of 9.6% since 2014, and is expected to grow at a CAGR of 11.9% to nearly $3,495.5 billion by 2022.
The hardware support services market is the largest segment of the IT services market, and is worth $1,078.7 billion globally and has grown at a CAGR of 9.5% during the historic period. This is followed by software and BPO services, the second largest segment, accounting for 37% of the IT services market. Hardware support services will also be the fastest growing segment in the IT services market at a CAGR of 12% during 2018-2022.
The top opportunities in the global cloud services market will arise in the software as a service (SaaS) segment, which will gain $85.8 billion of global annual sales by 2022. Of the 48 countries covered in this report, the cloud services market size will gain the most in the USA at $52 billion of annual sales by 2022.
To take advantage of opportunities such as these, cloud services market businesses should adopt strategies such as offering multi-cloud services to customers, offering public cloud platforms, increasing investments in reach and development focused on cloud computing, and building green cloud to save costs and energy, developing hybrid cloud models, and acquiring and merging to expand their product portfolios and to expand their business to new geographies.
- Markets Covered: SaaS, BPaaS, IaaS and PaaS
- Companies Mentioned: Microsoft Corporation, Amazon, IBM, Nippon Telegraph And Telephone Corp and Fujitsu
- Countries: Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam
- Regions: Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East , Africa
- Time series: Five years historic and forecast.
- Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
- Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
- Blue Coat Inc.
- Dell Technologies Inc.
- Demandware Inc.
- ExactTarget LLC
- International Business Machines Corporation (IBM)
- Marketo Inc.
- Microsoft Corporation
- NetSuite Inc.
- Nippon Telegraph & Telephone Corp.
- Oracle Corp.
- Red Hat
- Salesforce Inc.
- Symantec Corporation
- Truven Health Analytics Inc.
- Vista Equity Partners
For more information about this report visit https://www.researchandmarkets.com/r/vm52s1
View source version on businesswire.com:https://www.businesswire.com/news/home/20190411005524/en/
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Related Topics:Cloud Computing and Storage
INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT
SOURCE: Research and Markets
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PUB: 04/11/2019 10:01 AM/DISC: 04/11/2019 10:01 AM