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 providers, technology vendors, and platform providers. These alliances enable vendors to expand their product offerings, geographical reach, and gain access to advanced technological expertise. Additionally, they open up new opportunities for revenue generation by allowing vendors to sell their software solutions to businesses in diverse sectors such as IT and telecom, BFSI, retail, healthcare, manufacturing, media and entertainment, and government organizations. Notable examples of such collaborations include SAP's partnership with Microsoft and Salesforce's alliance with AWS.
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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) Geography (North America, Europe, APAC, South America, 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:
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Key Features in Public Cloud Services Market Research Report
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In the dynamic public cloud services market, enterprises are increasingly adopting cloud computing for their business needs, leveraging utility-based sharing models and agile deployment. Big data and machine learning are key drivers, with AI and ML powering advanced data management and analytics. Security remains paramount, with cloud infrastructure services offering firewalls and security solutions for business-sensitive data. Hybrid cloud solutions cater to unique requirements, while next-generation technologies like IoT, automation, and digital transformation reshape industries. Healthcare, connected devices, and smart electric vehicles are among sectors experiencing significant impact. High-level computing and next-generation technologies like big data analytics fuel innovation and enhance consumer experiences. Cloud services enable utility-based access to technology, driving technology consumerization and enabling next-level digital transformation.
The IT services market encompasses organizations delivering IT consulting and integration, application, electronic data processing, business process outsourcing, infrastructure, and Internet services. The Internet services and infrastructure sector specifically focuses on companies providing solutions for the Internet industry, such as data centers, cloud networking and storage infrastructure, and hosting services. This market also caters to IT security services and cloud computing services, including Machine Learning (ML) and Artificial Intelligence (AI) solutions based on public internet, Big Data, and Cloud services. Enterprises increasingly adopt these advanced technologies, expanding the market size significantly. According to Technavio, the global Internet services and infrastructure market size is determined by the consolidated revenue generated by entities engaged in the provision of all types of Internet services and infrastructure services.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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