The Business Research Company’s Cloud Services Market Report – Opportunities And Strategies – Global Forecast To 2030
LONDON, GREATER LONDON, UK, January 17, 2021 /EINPresswire.com/ — New year, new updates! Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports
North America is the largest region in the global cloud services market, accounting for 61% of the market. Western Europe is the second largest region, accounting for 21% of the global market. Africa has the smallest cloud services market share.
The cloud services market consists of sales of cloud services by entities (organizations, sole traders and partnerships) that provide cloud services used for the delivery of information technology resources and applications on-demand through an internet platform. Companies in the cloud services market provide access to servers, storage, databases, and a broad set of application services managed by a hardware networking. This market includes the sales of storage servers which are used to store, access, secure and manage digital data, files, and services. It also includes sales of public cloud services, private cloud services, hybrid cloud services and multi-cloud services offered by providers are included. The cloud managed services market is segmented into software as a service (SaaS); platform as a service (PaaS); infrastructure as a service (IaaS) and business process as a service (BPaaS).
The global cloud services market size is expected to grow from about $396 billion in 2020 to $467 billion in 2021 at a compound annual growth rate (CAGR) of 18%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $798 billion in 2025 at a CAGR of 14%.
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