The cloud computing market is anticipated to grow by US$340.5 billion by 2024 rapidly growing at a CAGR of 19.4% during the forecast period. The global cloud computing market is driven by benefits such as cost-affordability, disaster recovery, faster deployment, and scalability. These factors have helped shape the cloud computing market and are expected to boost the growth. Companies in the cloud computing market could also face challenges such as lack of skilled manpower, lack of awareness about technology, underdeveloped technical infrastructure in some countries. The details covered in the cloud computing market share report cover all the aspects of the industry. cloud computing market analysts have also shared growth projections in the report and have suggested cloud computing market players to plan growth strategies accordingly.
The purchase of Wirehive, a cloud storage and consulting firm based in the UK, has been acquired by Pax8, the popular spot for IT professionals to purchase cloud products. The acquisition of Wirehive offers Pax8 a broader variety of emerging innovations and higher geographical reach. Wirehive brings tremendous value to Pax8, allowing its tech portfolio to be diversified.
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The global cloud computing market has been segmented based on service model, deployment, organization size, and vertical. On the basis of organization size, the market for cloud computing is segmented based on small medium enterprises and large enterprises. Additionally, the market on the basis of vertical, is segmented into BFSI, retail and consumer goods, IT telecommunication, healthcare life sciences, manufacturing, energy utility, media entertainment, government public sector, and others. The global market for cloud computing is also covered based on the deployment segment which is further split into public, hybrid, and private. Also, on the basis of service model, the market is segmented into SaaS, IaaS, and PasS.
Factors like adoption of cloud computing technology and increasing BYOD trend support the cloud computing market growth. The performance of the cloud computing market has also been studied for the past and current years. Additionally, the cloud computing market report provides analysis of these segments. The cloud computing market segmental analysis provided in the report offers major details about the cloud computing market performance and future.
Companies in the cloud computing market are spread across the world. The cloud computing market report provides major information about regional markets of North America, Europe, Asia-Pacific (APAC), and the rest of the world. The North American cloud computing market has many companies across the United States, Canada, and Mexico. Europe has companies in the cloud computing market across Germany, France, Spain, Italy, and the United Kingdom. A detailed analysis of the cloud computing market across India, China, and Japan in the Asia-Pacific region is also presented in the report. The cloud computing market of the Middle East, Africa, and other regions has also been studied by analysts. The regional analysis of the cloud computing market can be found in the market research report.
The cloud computing market is supported by growing awareness about benefits that cloud computing offers. The population growth around the world and increasing demand of cloud computing market based services and products also support the market growth. However, the cloud computing market growth can be affected due to lack of a strong information technology infrastructure in some countries. The report covers all such details which will help companies in the cloud computing market to strengthen their business plan and improve their product portfolio. The cloud computing market research report also provides company profiles of major companies. The company profile of organizations operating in the cloud computing market discusses strategies, growth plans, size, revenue, and mergers and acquisition details of top companies in the cloud computing market. New entrants and established players can plan their strategies based on this data provided in the cloud computing market research report.
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