Public cloud is defined as computing services,
in which a service provider makes resources available for instance
applications, virtual machines (VMs), and storage services to the general
public over the internet. It is usually provided free or on a pay-per-usage
model, and comes with numerous features as well as benefits like ultimate
scalability, cost-effective models, reliability and so on. Apart from this, it
is also inclusive of professional, design, consulting, support, maintenance,
and integration services. It can be deployed faster than on-premises
infrastructures and with an almost extremely scalable platform.
The key benefits are included improve security
(controlled access, security innovation & more modern technology, cyber
security expertise, regular penetration testing), save money (no maintenance
& update costs, no capital investments, lower energy costs), free up IT
talent and save time.
According to study, “Global
Public Cloud Market, By Cloud Computing (Cloud Billing,Cloud
Communication Platform,Cloud Access Security,Cloud High Performance Computing
and Cloud Infrastructure), By Service (SaaS,PaaS andIaaS), By Organization Size
(Large Enterprises andSmall& Medium Size Enterprises), By Industry
(Manufacturing, BFSI, Healthcare,Retail,Government,Aerospace & Defence,IT
& Telecommunication),By Region - Forecast to 2023” the key companies
operating in the global public cloud market are Amazon.com, Inc., International
Business Machines Corporation, Microsoft Corporation, Hewlett-Packard
Enterprise, Google Inc., Oracle Corporation, Cisco Systems, Inc.,
Salesforce.com., VMware, Inc., Fujitsu
Limited.
Based on cloud computing, public cloud market
is segmented into cloud billing,
cloud high performance
computing, cloud access security, cloud communication
platform, and cloud infrastructure. Based on services, market is
segmented into platform-as-a-service (PaaS), software-as-a-service (SaaS) and
infrastructure-as-a-service (IaaS). SaaS is probable to exhibit the highest
growth rate during the forecast period, as it provides users the convenience of
being able to access the services without installing them. Based on
organization size, market is segmented into small & medium size enterprises
and large enterprises. In addition, based on end-use industry, market is
segmented into BFSI, retail, aerospace & defense, manufacturing, IT &
telecommunications and healthcare. BFSI segments holds major share in market
due to increase in adoption of mobile apps & related ecosystems.
The public cloud market is driven by growth in
reliance on digital data generation, followed by rise in demand for industrial
automation, growth in reliance on mobile apps for transactions, expand in
healthcare industry, increase in demand for high-performance computing in
several industries, rapid industrialization, increase in number of small &
large-sized enterprises, rise in use of 5G connectivity and gathering
procedures in public sector industries. However, data compliance & data
residency and issues associated with data security may impact the market.
Based on geography, the North-American region
dominates the public cloud market owing to rise in government support to
digitalization procedures in the region. The Asian-Pacific and European regions
are also estimated to witness higher growth rate due to growth in adoption of
(Internet of things) IoT technology & solutions in emerging countries over
the forecast period. It is projected that the market will be reached at rapid
pace because of growth in use of mobile apps & websites in the banking
& government sector during the forecast period. It is anticipated that the
market will be reached at US $1132.98 billion, by 2023.
For more information, click on the
link below:
Contact Us:
Ken Research
Ankur Gupta, Head Marketing &
Communications
+91
9015378249