Private Cloud Services Market by Service (SaaS, PaaS, IaaS), User Type (SMEs and Large Enterprise), and Industry Vertical (BFSI, IT & Telecom, Government & Education, Healthcare, Retail, Manufacturing, Energy & Utility, Media & Entertainment, and Others) - Global Opportunity Analysis and Industry Forecast, 2017-2023 Update Available On-Demand
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IC_172694
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Pages: 175
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Aug
2017 |
4082 Views
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Author(s) :
Soumya Swarup Sahoo
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Tables: 54
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Charts: 56
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Formats*:
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Private Cloud Services Market Overview:
Global Private Cloud Services Market was valued at $3,703 million in 2016, and is estimated to reach $14,111 million by 2023, growing at a CAGR of 21.1% from 2017 to 2023. Private cloud services, such as SaaS, PaaS, and IaaS, are offered by prominent cloud service providers, such as Cisco Systems, Inc., Dell Inc., HP Inc., IBM Corporation, Microsoft Corporation, and others, to host, manage, and maintain all types of cloud services in private deployment model. Private cloud services provide easy access to server, network, and storage for all user types including large and small & medium enterprises. The global private cloud services market is expected to witness significant growth rate, due to the rise in ICT expenditure by the government of various developed and the developing regions, including North America, Europe, and Asia-Pacific.
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Asia-Pacific is expected to register the highest CAGR in the near future. Global participants in the market have realized the importance of improving the overall private cloud services to ensure low-cost and secured networking, servers, virtual data centers, storage solution, and easy accessibility of virtual computing from any device and location. The Asia-Pacific region, which includes countries such as China, Singapore, Japan, and Australia, offer lucrative opportunities for market players. Moreover, increase in demand for mobility across enterprises is a key driver of the market in LAMEA.
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The global private cloud services market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Growth in enterprise mobility and security concerns over cloud deployment have contributed to the market growth in North America and Europe. However, LAMEA is expected to account less market share in the global private cloud services market as compared to other regions, due to slow ICT spending and slow adoption of private cloud services. Furthermore, the Middle East and Africa are expected to gain traction, but the growth is expected to be stable during the forecast period.
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Private Cloud Services Market Segmentation
The global private cloud services market is segmented based on service, user type, industry vertical, and geography. On the basis of service, it is classified into SaaS, PaaS, and IaaS. On the basis of user type, it is bifurcated into SMEs and large enterprises. On the basis of industry vertical, it is divided into banking, financial services, and insurance (BFSI); IT & telecom; government & education; healthcare; retail; manufacturing; media & entertainment; energy & utilities; and others.
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The key players profiled in the report are Cisco Systems, Inc., Dell Inc., HP Inc., IBM Corporation, Microsoft Corporation, Oracle Corporation, Rackspace Hosting, Inc., Red Hat, Inc., Salesforce.com, Inc., and VMware, Inc. The report discusses the key strategies adopted by the companies along with the detailed analysis of the current trends, upcoming opportunities, and restraints in the global market along with detailed information about their impacts.
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Top Impacting Factors
Demand for Low-cost and Secured IT operations
Enterprises across the globe have focused on creating a mobile workforce, wherein employees can access data from distant places through internet. Thus, virtual sets of IT components, such as servers, storage, networks, and others are expected to be in high demand in the near future.
Increase in Cloud Adoption Across Several Industry Verticals
Several industry verticals, such as banking, financial services, and insurance (BFSI); retail; healthcare; manufacturing; telecommunication & IT; media & entertainment; and others, have adopted cloud services.
Increase in Inclination Towards Private Cloud for Better Data Security
Secured data networks, increase in application development, and platform-based cloud services have fueled the private cloud services market growth.
Lack of IT Infrastructure in the Underdeveloped Nations
The countries in Latin America, the Middle East, and Africa have not yet adopted technologically advanced hubs with rich IT infrastructure and digital content, which in turn is expected to hinder the global private cloud services market growth in the near future.
Rise in Adoption of Cloud Among SMEs
The adoption of cloud has increased among SMEs, owing to advantages such as enhanced uptime, reliability, enriched IT service, increased flexibility of data access, and professional services.
Key Benefits
- In-depth analyses of the global private cloud services market and its dynamics are provided to understand the market scenario.
- Quantitative analysis of the current trends and future estimations from 2017 to 2023 is provided to assist strategists and stakeholders to capitalize on the prevailing opportunities in the private cloud services market.
- Porters five forces analysis examines the competitive structure of the private cloud services market, and provides a clear understanding of the factors that influence the market entry and expansion.
- A detailed analysis of the geographical segments enables the identification of profitable segments for market players.
- Comprehensive analyses of the trends, sub segments, and key revenue pockets are provided in the report.
Private Cloud Services Market Key Segments:
By Service
- SaaS
- PaaS
- IaaS
By User Type
- SMEs
- Large Enterprises
By Industry Vertical
- Banking, Financial Services, and Insurance
- IT & Telecom
- Government & Education
- Healthcare
- Retail
- Manufacturing
- Media & Entertainment
- Energy & Utilities
- Others
By Geography
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Singapore
- Japan
- Australia
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
CHAPTER 1 INTRODUCTION
1.1. Report description
1.2. Key benefits
1.3. Key market segments
1.4. Research methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools & models
CHAPTER 2 EXECUTIVE SUMMARY
2.1. CXO perspective
CHAPTER 3 MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top investment pockets
3.2.2. Top winning strategies
3.3. Market share analysis, 2016
3.4. Porter’s five forces analysis
3.4.1. Market dynamics
3.4.2. Drivers
3.4.3. Restraints
3.4.4. Opportunities
CHAPTER 4 PRIVATE CLOUD SERVICES MARKET, BY SERVICE
4.1. Overview
4.1.1. Market size and forecast
4.2. SAAS
4.2.1. Key market trends
4.2.2. Growth factors and opportunities
4.2.3. Market size and forecast
4.3. PAAS
4.3.1. Key market trends
4.3.2. Growth factors and opportunities
4.3.3. Market size and forecast
4.4. IAAS
4.4.1. Key market trends
4.4.2. Growth factors and opportunities
4.4.3. Market size and forecast
CHAPTER 5 PRIVATE CLOUD SERVICES MARKET, BY USER TYPE
5.1. Overview
5.1.1. Market size and forecast
5.2. SMES (Small & Medium Enterprises)
5.2.1. Market size and forecast
5.3. Large enterprises
5.3.1. Market size and forecast
CHAPTER 6 PRIVATE CLOUD SERVICES MARKET, BY INDUSTRY VERTICAL
6.1. Overview
6.1.1. Market size and forecast
6.2. Banking, Financial Services, and Insurance
6.2.1. Market size and forecast
6.3. IT & Telecom
6.3.1. Market size and forecast
6.4. Government & Education
6.4.1. Market size and forecast
6.5. Healthcare
6.5.1. Market size and forecast
6.6. Retail
6.6.1. Market size and forecast
6.7. Manufacturing
6.7.1. Market size and forecast
6.8. Media & Entertainment
6.8.1. Market size and forecast
6.9. Energy & Utilities
6.9.1. Market size and forecast
6.10. Others
6.10.1. Market size and forecast
CHAPTER 7 PRIVATE CLOUD SERVICES MARKET, BY GEOGRAPHY
7.1. Overview
7.2. North America
7.2.1. Key market trends
7.2.2. Key growth factors and opportunities
7.2.3. Market size and forecast, by country
7.2.3.1. U.S. market size and forecast
7.2.3.2. Canada market size and forecast
7.2.3.3. Mexico market size and forecast
7.2.4. North America private cloud services market, by service
7.2.5. North America private cloud services market, by user type
7.2.6. North America private cloud service market, by industry vertical
7.3. Europe
7.3.1. Key market trends
7.3.2. Key growth factors and opportunities
7.3.3. Market size and forecast, by country
7.3.3.1. UK market size and forecast
7.3.3.2. Germany market size and forecast
7.3.3.3. France market size and forecast
7.3.3.4. Italy market size and forecast
7.3.3.5. Rest of Europe market size and forecast
7.3.4. Europe private cloud service market, by service
7.3.5. Europe private cloud service market, by user type
7.3.6. Europe private cloud service market, by industry vertical
7.4. Asia-Pacific
7.4.1. Key market trends
7.4.2. Key growth factors and opportunities
7.4.3. Market size and forecast, by country
7.4.3.1. China market size and forecast
7.4.3.2. Singapore market size and forecast
7.4.3.3. Japan market size and forecast
7.4.3.4. Austalia market size and forecast
7.4.3.5. Rest of Asia-Pacific market size and forecast
7.4.4. Asia-Pacific private cloud service market, by service
7.4.5. Asia-Pacific private cloud service market, by user type
7.4.6. Asia-Pacific private cloud service market, by industry vertical
7.5. LAMEA
7.5.1. Key market trends
7.5.2. Key growth factors and opportunities
7.5.3. Market size and forecast, by region
7.5.3.1. Latin America market size and forecast
7.5.3.2. Middle East market size and forecast
7.5.3.3. Africa market size and forecast
7.5.4. LAMEA private cloud service market, by service
7.5.5. LAMEA private cloud service market, by user type
7.5.6. LAMEA private cloud service market, by industry vertical
CHAPTER 8 COMPANY PROFILES
8.1. CISCO SYSTEMS, INC.
8.1.1. Operating business segments
8.1.2. Business performance
8.1.3. Key strategic moves and developments
8.2. DELL INC.
8.2.1. Operating business segments
8.2.2. Business performance
8.2.3. Key strategic moves and developments
8.3. HP INC.
8.3.1. Operating business segments
8.3.2. Business performance
8.3.3. Key strategic moves and developments
8.4. IBM CORPORATION
8.4.1. Operating business segments
8.4.2. Business performance
8.4.3. Key strategic moves and developments
8.5. MICROSOFT CORPORATION
8.5.1. Operating business segments
8.5.2. Business performance
8.5.3. Key strategic moves and developments
8.6. ORACLE CORPORATION
8.6.1. Operating business segments
8.6.2. Business performance
8.6.3. Key strategic moves and developments
8.7. RACKSPACE HOSTING, INC.
8.7.1. Operating business segments
8.7.2. Business performance
8.7.3. Key strategic moves and developments
8.8. RED HAT, INC.
8.8.1. Operating business segments
8.8.2. Business performance
8.8.3. Key strategic moves and developments
8.9. SALESFORCE.COM, INC.
8.9.1. Operating business segments
8.9.2. Business performance
8.9.3. Key strategic moves and developments
8.10. VMWARE, INC.
8.10.1. Operating business segments
8.10.2. Business performance
8.10.3. Key strategic moves and developments
LIST OF TABLES
TABLE 1. GLOBAL PRIVATE CLOUD SERVICES MARKET REVENUE, BY SERVICE, 2016-2023 ($MILLION)
TABLE 2. SAAS PRIVATE CLOUD SERVICES MARKET REVENUE, BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 3. PAAS PRIVATE CLOUD SERVICES MARKET REVENUE, BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 4. IAAS PRIVATE CLOUD SERVICES MARKET REVENUE, BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 5. GLOBAL PRIVATE CLOUD SERVICES MARKET REVENUE, BY USER TYPE, 2016-2023 ($MILLION)
TABLE 6. SME PRIVATE CLOUD SERVICES MARKET REVENUE, BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 7. LARGE ENTERPRISES PRIVATE CLOUD SERVICES MARKET REVENUE, BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 8. GLOBAL PRIVATE CLOUD SERVICES MARKET REVENUE, BY INDUSTRY VERTICAL, 2016-2023 ($MILLION)
TABLE 9. BFSI PRIVATE CLOUD SERVICES MARKET REVENUE, BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 10. IT & TELECOM PRIVATE CLOUD SERVICES MARKET REVENUE, BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 11. GOVERNMENT & EDUCATION PRIVATE CLOUD SERVICES MARKET REVENUE, BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 12. HEALTHCARE PRIVATE CLOUD SERVICES MARKET REVENUE, BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 13. RETAIL PRIVATE CLOUD SERVICES MARKET REVENUE, BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 14. MANUFACTURING PRIVATE CLOUD SERVICES MARKET REVENUE, BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 15. ENERGY & UTILITY PRIVATE CLOUD SERVICES MARKET REVENUE, BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 16. MEDIA & ENTERTAINMENT PRIVATE CLOUD SERVICES MARKET REVENUE, BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 17. OTHERS PRIVATE CLOUD SERVICES MARKET REVENUE, BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 18. PRIVATE CLOUD SERVICES MARKET BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 19. NORTH AMERICA PRIVATE CLOUD SERVICES MARKET BY COUNTRY, 2016-2023 ($MILLION)
TABLE 20. NORTH AMERICA PRIVATE CLOUD SERVICES MARKET BY SERVICE, 2016-2023 ($MILLION)
TABLE 21. NORTH AMERICA PRIVATE CLOUD SERVICES MARKET BY USER TYPE, 2016-2023 ($MILLION)
TABLE 22. NORTH AMERICA PRIVATE CLOUD SERVICES MARKET BY INDUSTRY VERTICAL, 2016-2023 ($MILLION)
TABLE 23. EUROPE PRIVATE CLOUD SERVICES MARKET BY COUNTRY, 2016-2023 ($MILLION)
TABLE 24. EUROPE PRIVATE CLOUD SERVICES MARKET BY SERVICE, 2016-2023 ($MILLION)
TABLE 25. EUROPE PRIVATE CLOUD SERVICES MARKET BY USER TYPE, 2016-2023 ($MILLION)
TABLE 26. EUROPE PRIVATE CLOUD SERVICES MARKET BY INDUSTRY VERTICAL, 2016-2023 ($MILLION)
TABLE 27. ASIA-PACIFIC PRIVATE CLOUD SERVICES MARKET BY COUNTRY, 2016-2023 ($MILLION)
TABLE 28. ASIA-PACIFIC PRIVATE CLOUD SERVICES MARKET BY SERVICE, 2016-2023 ($MILLION)
TABLE 29. ASIA-PACIFIC PRIVATE CLOUD SERVICES MARKET BY USER TYPE, 2016-2023 ($MILLION)
TABLE 30. ASIA-PACIFIC PRIVATE CLOUD SERVICES MARKET BY INDUSTRY VERTICAL, 2016-2023 ($MILLION)
TABLE 31. LAMEA PRIVATE CLOUD SERVICES MARKET BY REGION, 2016-2023 ($MILLION)
TABLE 32. LAMEA PRIVATE CLOUD SERVICES MARKET BY SERVICE, 2016-2023 ($MILLION)
TABLE 33. LAMEA PRIVATE CLOUD SERVICES MARKET BY USER TYPE, 2016-2023 ($MILLION)
TABLE 34. LAMEA PRIVATE CLOUD SERVICES MARKET BY INDUSTRY VERTICAL, 2016-2023 ($MILLION)
TABLE 35. CISCO SYSTEMS, INC.: COMPANY SNAPSHOT
TABLE 36. CISCO SYSTEMS, INC.: OPERATING SEGMENTS
TABLE 37. DELL INC.: COMPANY SNAPSHOT
TABLE 38. DELL INC.: OPERATING SEGMENTS
TABLE 39. HP INC.: COMPANY SNAPSHOT
TABLE 40. HP INC: OPERATING SEGMENTS
TABLE 41. IBM CORPORATION: COMPANY SNAPSHOT
TABLE 42. IBM CORPORATION: OPERATING SEGMENTS
TABLE 43. MICROSOFT CORPORATION: COMPANY SNAPSHOT
TABLE 44. MICROSOFT CORPORATION: OPERATING SEGMENTS
TABLE 45. ORACLE CORPORATION: COMPANY SNAPSHOT
TABLE 46. ORACLE CORPORATION: OPERATING SEGMENTS
TABLE 47. RACKSPACE HOSTING INC.: COMPANY SNAPSHOT
TABLE 48. RACKSPACE HOSTING INC.: OPERATING SEGMENTS
TABLE 49. RED HAT, INC.: COMPANY SNAPSHOT
TABLE 50. RED HAT, INC.: OPERATING SEGMENTS
TABLE 51. SALESFORCE.COM, INC.: COMPANY SNAPSHOT
TABLE 52. SALESFORCE.COM, INC.: OPERATING SEGMENTS
TABLE 53. VMWARE INC.: COMPANY SNAPSHOT
TABLE 54. VMWARE INC.: OPERATING SEGMENTS
LIST OF FIGURES
FIGURE 1. MARKET SEGMENTATION: PRIVATE CLOUD SERVICES MARKET
FIGURE 2. TOP WINNING STRATEGIES, 2015-2017 (%)
FIGURE 3. TOP WINNING STRATEGIES, 2015-2017
FIGURE 4. TOP INVESTMENT POCKETS
FIGURE 5. TOP IMPACTING FACTORS
FIGURE 6. HIGH BARGAINING POWER OF SUPPLIERS
FIGURE 7. LOW-TO-MODERATE BARGAINING POWER OF BUYERS
FIGURE 8. LOW THREAT OF SUBSTITUTES
FIGURE 9. LOW-TO-MODERATE THREAT OF NEW ENTRANTS
FIGURE 10. HIGH COMPETITIVE RIVALRY
FIGURE 11. MARKET SHARE ANALYSIS, 2016
FIGURE 12. DRIVERS, RESTRAINTS, AND OPPORTUNITIES
FIGURE 13. GLOBAL PRIVATE CLOUD SERVICES MARKET, BY SERVICE
FIGURE 14. GLOBAL PRIVATE CLOUD SERVICES MARKET, BY USER TYPE
FIGURE 15. GLOBAL PRIVATE CLOUD SERVICES MARKET, BY INDUSTRY VERTICAL
FIGURE 16. PRIVATE CLOUD SERVICES MARKET BY GEOGRAPHY, MARKET SHARE AND CAGR
FIGURE 17. NORTH AMERICA PRIVATE CLOUD SERVICES MARKET, 2016-2023 ($MILLION)
FIGURE 18. U.S. PRIVATE CLOUD SERVICES MARKET, 2016-2023 ($MILLION)
FIGURE 19. CANADA PRIVATE CLOUD SERVICES MARKET, 2016-2023 ($MILLION)
FIGURE 20. MEXICO PRIVATE CLOUD SERVICES MARKET, 2016-2023 ($MILLION)
FIGURE 21. EUROPE PRIVATE CLOUD SERVICES MARKET, 2016-2023 ($MILLION)
FIGURE 22. UK PRIVATE CLOUD SERVICES MARKET, 2016-2023 ($MILLION)
FIGURE 23. GERMANY PRIVATE CLOUD SERVICES MARKET, 2016-2023 ($MILLION)
FIGURE 24. FRANCE PRIVATE CLOUD SERVICES MARKET, 2016-2023 ($MILLION)
FIGURE 25. ITALY PRIVATE CLOUD SERVICES MARKET, 2016-2023 ($MILLION)
FIGURE 26. REST OF EUROPE PRIVATE CLOUD SERVICES MARKET, 2016-2023 ($MILLION)
FIGURE 27. ASIA-PACIFIC PRIVATE CLOUD SERVICES MARKET, 2016-2023 ($MILLION)
FIGURE 28. CHINA PRIVATE CLOUD SERVICES MARKET, 2016-2023 ($MILLION)
FIGURE 29. SINGAPORE PRIVATE CLOUD SERVICES MARKET, 2016-2023 ($MILLION)
FIGURE 30. JAPAN PRIVATE CLOUD SERVICES MARKET, 2016-2023 ($MILLION)
FIGURE 31. AUSTRALIA PRIVATE CLOUD SERVICES MARKET, 2016-2023 (MILLION)
FIGURE 32. REST OF ASIA-PACIFIC PRIVATE CLOUD SERVICES MARKET, 2016-2023 ($MILLION)
FIGURE 33. LAMEA PRIVATE CLOUD SERVICES MARKET, 2016-2023 ($MILLION)
FIGURE 34. LATIN AMERICA PRIVATE CLOUD SERVICES MARKET, 2016-2023 ($MILLION)
FIGURE 35. MIDDLE EAST PRIVATE CLOUD SERVICES MARKET, 2016-2023 ($MILLION)
FIGURE 36. AFRICA PRIVATE CLOUD SERVICES MARKET, 2016-2023 ($MILLION)
FIGURE 37. CISCO SYSTEMS, INC.: REVENUE, 2014-2016 ($MILLION)
FIGURE 38. CISCO SYSTEMS, INC.: REVENUE, 2013-2015 ($MILLION)
FIGURE 39. CISCO SYSTEMS, INC.: REVENUE, BY REGION, 2015 (%)
FIGURE 40. DELL INC.: REVENUE, 2013-2015 ($MILLION)
FIGURE 41. DELL INC.: REVENUE, BY REGION, 2015 (%)
FIGURE 42. DELL INC.: REVENUE, BY BUSINESS SEGMENTS, 2015 (%)
FIGURE 43. HP INC: REVENUE, 2014-2016 ($MILLION)
FIGURE 44. IBM CORPORATION: REVENUE, 2013-2015, ($MILLION)
FIGURE 45. IBM CORPORATION: REVENUE BY GEOGRAPHY, 2015 (%)
FIGURE 46. IBM CORPORATION: REVENUE BY BUSINESS SEGMENT, 2015 (%)
FIGURE 47. MICROSOFT CORPORATION: REVENUE, 2014-2016 ($MILLION)
FIGURE 48. MICROSOFT CORPORATION: REVENUE BY BUSINESS SEGMENT, 2015 (%)
FIGURE 49. ORACLE CORPORATION.: REVENUE, 2014-2016 ($MILLION)
FIGURE 50. ORACLE CORPORATION: REVENUE, BY BUSINESS SEGMENT, 2016 (%)
FIGURE 51. RACKSPACE HOSTING INC.: REVENUE, 2014-2016 ($MILLION)
FIGURE 52. RED HAT, INC.: REVENUE, 2014-2016 ($MILLION)
FIGURE 53. SALESFORCE.COM, INC.: REVENUE, 2014-2016 ($MILLION)
FIGURE 54. SALESFORCE.COM, INC.: REVENUE BY SEGMENT, 2016 (%)
FIGURE 55. VMWARE INC.: REVENUE, 2014-2016 ($MILLION)
FIGURE 56. VMWARE INC.: REVENUE, BY SEGMENT, 2016 (%)
global private cloud services market is expected to reach $14,111 million by 2023, owing to high demand for low-cost IT infrastructure, increase in cloud adoption across several industries, and growth in concerns about data security and protection over cloud. The global market is expected to witness high growth rate during the forecast period, owing to surge in alliances and collaborations among various key vendors and users, especially in the developing countries. However, high cost of deploying private cloud is expected to hinder the private cloud services market growth.
Private cloud services provide several cloud solutions such as software integration, virtual IT infrastructure set up, professional services, managed hosting, and others. The primary delivery models in private cloud services are Software-as-a-Service (SaaS), Platform-as-a-Service (PaaS), and Infrastructure-as-a-Service (IaaS). Private cloud computing has emerged as a top trend across several industry verticals, including banking and financial sector, public sectors, healthcare, retail, and others, in the recent years, owing to security reasons.
In 2016, the Software-as-a-Service (SaaS) segment was the highest contributor to the global market, in terms of revenue, followed by the Infrastructure-as-a-Service (IaaS). Furthermore, the Platform-as-a-Service (PaaS) is anticipated to witness the highest growth rate, owing to increase in application development and platform-based cloud services.
The IT & telecom segment contributed the highest revenue share for the private cloud services market in 2016; however, the banking, financial services, and insurance (BFSI) segment is anticipated to witness significant growth in the near future, owing to secure and reliable data access through virtual data centers and servers, to ensure effective networking and computing operations. The private cloud services market in government & education segment is anticipated to grow at the second fastest rate during the forecast period.
Key market players have adopted various strategies, such as new product launch, business expansion, acquisition, and strategic alliances, to create more awareness about private cloud services and increase adoption across various verticals in the global private cloud services market.
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