The public cloud services market share is expected to decline at a CAGR of 19% between 2021 and 2026. The increasing adoption of IoT and ML and big data and cloud storage simplifying disaster recovery provides a promising ground for the public cloud services market.
One of the key factors driving growth in the public cloud services market is the increasing adoption of IoT and ML and big data. This increase in the number of hyper scalers will have a positive impact on the global data center server market. The generation of massive data has compelled several companies to build data centers of their own or collocated data center to serve their customers in a better way.
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The public cloud services market is segmented by service (SaaS, IaaS, and PaaS) and geography (North America, Europe, APAC, South America, and MEA).
The public cloud services market share growth by the SaaS segment will be significant during the forecast period. A rise in the use of instant messaging (IM) and social media has increased the adoption of SaaS solutions by enterprises. 52% of the market's growth will originate from North America during the forecast period. The increased adoption of cloud computing services and a rise in data center investments will facilitate the public cloud services market growth in North America over the forecast period.
Vendor lock-ins have become a major challenge to the adoption of public cloud services. Vendor lock-in, also known as customer lock-in or proprietary lock-in, is where a customer using a product or service cannot easily transition to another vendor's product or service. It becomes more difficult to switch between public cloud vendors when an application is built since the application is built using a specific platform and a set of tools.
The market structure is fragmented, and the vendors are implementing various strategies such as technological innovations to compete in the market.
Some of the major public cloud services market vendors are Alibaba Group Holding Ltd., Alphabet Inc., Amazon.com Inc., Cisco Systems Inc., International Business Machines Corp., Microsoft Corp., Oracle Corp., Salesforce.com Inc., SAP SE, and VMware Inc.
alibabacloud.com - The company offers borescope products such as iRis DVR 5. Through the unified segment, the company offers products such as borescopes, fiberscopes, videoscopes and pipe cameras, and remote visual inspection.
cisco.com- The company offers borescope products such as Hawkeye V3 HD Video Borescopes. Through the unified segment, the company manufactures articulating, flexible, fiberoptic scopes, and video borescopes.
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Precise market size estimation during the forecast period 2022-2026.
CAGR of the public cloud services market forecast during 2022-2026.
Market-level data on units, average selling prices, and values of the public cloud services market share.
Prediction of the upcoming trends, drivers, and factors that challenge the public cloud services market.
Public cloud services market growth across North America, Europe, APAC, South America, and MEA.