Cloud Services Market Overview:
The global cloud services market share was valued at $209.9 billion in 2014, and is expected to reach $555 billion by 2020, growing at a CAGR of 17.6% during the forecast period 2014‐2020. Cloud computing is the practice of sharing network of remote servers which are hosted on the internet to store, process, share, and manage data rather than on a local server or a personal computer. It specifically refers to a common storage space through which all the devices in the network can access data simultaneously. The use of cloud computing technology not only provides cost benefits but also makes data accessible to all devices in the network at any time and from any location.
The global cloud computing services market size is driven by many factors. The most important factor, which is driving the market, is the cost effectiveness. With the deployment of cloud computing services, organizations can save more than 35% of the annual operating costs. The other factor includes all the functional capabilities, which boost up the business performances of the organizations. In addition, substantial increase in the number of small and medium enterprises will eventually lead to the increased adoption of cloud services in such regions
The global cloud services industry is segmented on the basis of service, type, end user and geography. The services segment includes infrastructure as a service, platform as a service, and software as a service. By type segment is further bifurcated into public cloud, private cloud, hybrid cloud, community cloud. Moreover, end user segment is classified into government, private organizations, academics and education, banking, financial services and insurance, health care, supply chain management. Based on geography, the global cloud services market is segmented into North America, Europe, Asia-Pacific, and LAMEA.
Cloud Service Market Scenario
The cloud storage is a practice of storing data on shared remote servers that are hosted through the internet instead of the conventional local servers or personal computers. In a cloud environment, the servers can be accessed by all the devices that are in the network through a secure gateway. The global cloud services market is still at an evolving stage and it has a good potential due to several driving factors. The key driver for the market is that it provides cost benefits when it is compared to conventional physical storage as it is estimated that cloud services would save 35% of the annual operations cost. Functional capabilities and access from any place at any time is another driver due to flexibility provided in the business processes.
Evolution of cloud computing
Top Factors Impacting World Cloud Services Market
Data security and protection
The adoption of Public and hybrid models of the cloud are relatively limited due to the threat of data breaches and data leakages. The information that is stored in these clouds can be accessed by the subscribers; such information, therefore can be easily breached and misused; Solving the security issues would therefore be of utmost importance. Therefore, the securitization of these stored data is extremely important as this factor can affect the market adversely if the problem persists.
The impact of this restraint is severe in the market. Data security creates a feeling of distrust among the organizations and it is observed that the organizations hesitate in adopting the technology. However, the impact of data security would die a natural death due to the advancement of cloud computing technology and availability of optimum solutions for the data security issues.
There are various functional benefits, which the cloud computing services provide such as no upgrading and installing functions or patching. The service providers handle these functions so it reduces the unnecessary efforts of the IT staff so that they can contribute in other productive projects. The data is well distributed in cloud and is accessible to everyone subscribed. For example, E-mail services requires massive resources as the service is distributed to vast users, so public cloud of any strong service provider such as Google app can be used to create the Email services.
Top strategies in cloud computing services market
The most popular and observed strategy in the cloud computing services market is Merger and Acquisition. The reason behind these increased number of acquisitions are huge financial capacity of the companies. The companies in the cloud services are global market giants with high revenues and thus, maintain good liquidity. Moreover, the attractiveness of the cloud computing services market forces the companies to invest in various segments. Companies such as Google Inc., IBM, Microsoft and Amazon web services seem very active in merger and acquisition as they want to become the market leaders.
CLOUD SERVICES MARKET KEY BENEFITS
- The report provides in-depth analysis of the cloud computing services market and offers current and future trends to depict the upcoming investment pockets in the market.
- Competitive analysis to formulate strategies in the market.
- Current and future trends to determine the overall attractiveness of the market.
- Analysis of market factors to determine the growth trends in various geographies.
- Potency of buyers and suppliers to determine in depth analysis of the present scenario.
- Company profiles of the leading market players to provide the strategies adopted by them to succeed in the market.
- Quantitative analysis of the current market and estimations through 2013-2020.
- Identification of key application segments based on future potential and growth prospects
- Value chain analysis to describe the roles of intermediaries involved.
- Drivers and opportunity to determine the factors responsible for the cloud services market growth.
- Top impacting factors which determine the future attractiveness if the market.
CLOUD SERVICES MARKET SEGMENTATION
- Infrastructure as a service
- Cloud bursting
- Multi tenant computing
- Resource pooling
- Platform as a service
- Software as a service
- Public cloud
- Private cloud
- Hybrid cloud
- Community cloud
By End User
- Private organizations
- Academics and education
- Banking, Financial services and Insurance
- Health Care
- Supply chain management
- North America
- Asia Pacific