Latest News- Public Cloud Services Market: SaaS is expected to lead the Service segment during 2025-2029

The Public Cloud Services Market is being driven by Increasing number of data center hyperscale and colocation providers

The Public Cloud Services Market is expected to grow at a CAGR of 23.1% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 1707.7 billion. In the highly competitive global public cloud market, vendors are pursuing strategic collaborations and partnerships with various market players, including infrastructure providers, software vendors, technology providers, and platform providers. These alliances enable vendors to expand their product offerings, geographical reach, and access to advanced technological expertise. Additionally, they provide opportunities to explore new markets and verticals, such as IT and telecom, BFSI, retail, healthcare, manufacturing, media and entertainment, and government organizations, thereby increasing revenue through software sales to diverse enterprise sectors. Notable examples of such collaborations include SAP's partnership with Microsoft and Salesforce's alliances with various technology providers. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Service
  • SaaS
  • IaaS
  • PaaS
• Type
  • SMEs
  • Large enterprise
• End User
  • BFSI
  • IT & telecom
  • Retail & consumer goods
  • Manufacturing
  • Energy & utilities
  • Healthcare
  • Media & entertainment
  • Government & public sector
  • Others
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • APAC
    • China
    • India
    • Japan
  • 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: 

• Increasing number of data center hyperscale and colocation providers
• Shift toward reduced capital expenditures on IT hardware
• Increasing adoption of IoT, ML, and big data technologies

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

• Vendor lock-in and operational complexities
• Network connectivity issues and latency
• Security and compliance issues related to public cloud

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Market Scope in Public Cloud Services Market Research Report

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Research Analysis Overview

In the dynamic public cloud services market, enterprises increasingly adopt cloud computing for their business needs, leveraging utility-based sharing models and agile deployment. Key offerings include cloud infrastructure services, machine learning (ML) and artificial intelligence (AI) capabilities for big data analytics, and security solutions such as firewalls. Hybrid cloud environments cater to business-sensitive data, while next-generation technologies like IoT, connected devices, and digital transformation drive innovation. ML and AI enhance consumer experiences in sectors like healthcare, automation, and smart electric vehicles. Data management remains a priority, with high-level computing ensuring efficient handling of large datasets. Technology consumerization and next-generation technologies continue to shape the market landscape.

Market Research Overview

The IT services industry encompasses various sectors, with the global Internet services and infrastructure market representing a significant segment. This market caters to enterprises by providing a range of services and infrastructure solutions, including data centers, cloud networking and storage, hosting, IT security, and utility-based cloud services. These offerings enable businesses to leverage advanced technologies such as big data, machine learning, and artificial intelligence through agile deployment models. Companies in this market generate revenue from the provision of these services, contributing to its overall size.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/