Latest News- Cloud Computing Market: Public cloud is expected to lead the Deployment segment during 2025-2029

The Cloud Computing Market is being driven by Increased inclination toward cloud computing for cost-cutting

The Cloud Computing Market is expected to grow at a CAGR of 18.5% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 600.5 billion. In the business world, security and regulatory compliance have been major concerns hindering organizations from adopting public cloud solutions. Regulations such as the GDPR in Europe impose restrictions on data storage locations. Although public cloud services offer security features, their accessibility via the internet raises vulnerabilities. With multiple customers utilizing resources from public cloud service providers, the risk of cyber attacks from hackers is heightened. For industries like finance and healthcare, where data security is paramount, the potential risks associated with public cloud solutions can be significant. Despite service providers implementing secure multi-tenancy, the inherent nature of public cloud services leaves them susceptible to breaches. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Deployment
  • Public cloud
  • Private cloud
• Service
  • SaaS
  • IaaS
  • PaaS
• Workload
  • Application Development & Testing
  • Data Storage & Backup
  • Resource Management
  • Orchestration Services
  • Others
• Geography
  • North America
    • Canada
    • US
  • APAC
    • China
    • India
    • Japan
  • Europe
    • Germany
    • UK
    • France
  • South America
    • Brazil
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increased inclination toward cloud computing for cost-cutting
• Rise in adoption of cloud among SMEs
• Increased use of containers will boost cloud adoption

However, the market also witnesses some limitations, which are as follows:

• System integration issues
• Network connectivity issues and latency
• Vendor lock-in and operational complexities

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Market Scope in Cloud Computing Market Research Report

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Research Analysis Overview

The Cloud Computing Market is experiencing significant growth with the integration of AI and ML in Big Data processing. Edge computing and 5G technologies are enhancing real-time analytics capabilities. The Internet is transforming industries through digital solutions like Industrial IoT and Video-on-Demand. Key players like Bitdeer and Vultr offer Cloud Infrastructure services for Large Enterprises and Private Deployment segments. Personal computers and Local Servers are being replaced by Public Cloud Services for handling Images, Videos, and Real-time Data Processing. 5G's low latency and high bandwidth are essential for the efficient deployment of AI and ML models in various industries.

Market Research Overview

The global market for Internet services and infrastructure encompasses businesses delivering IT consulting and integration, application, data processing, business process outsourcing, infrastructure, and Internet services. This sector includes entities providing data center facilities, cloud networking and storage infrastructure, and hosting services, excluding software product vendors. Technavio estimates the market size based on the consolidated revenue of companies specializing in all Internet services and infrastructure offerings. Key technologies driving growth in this sector include Artificial Intelligence (AI), Machine Learning (ML), Big Data, Edge computing, 5G technologies, and cloud computing services, such as Amazon S3 and Google Cloud Storage.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/