Public cloud refers to a model of cloud computing services such as storage and applications, which is made available to the general public over the internet. Public cloud services may be free of cost or offered on a pay-per-usage model, making them highly flexible and scalable solutions for a wide range of users. Public cloud services are widely used across various sectors due to their efficiency, cost-effectiveness and ease of access.
The public cloud market consists of sales, by entities (organizations, sole traders and partnerships), of public clouds that include a broad spectrum of services and products, leveraged by different types of users ranging from individual consumers to large organizations. The services are used for varied purposes, from hosting websites and blogs to storing data and running enterprise applications. Public cloud services are integral in facilitating remote work, data analytics, machine learning and much more. The availability of complementary products like private and hybrid cloud services, as well as substitutes such as on-premises data centers, influences the market dynamics.
The global public cloud market was valued at $247.60 billion in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 18.0%.
Increasing Number Of Small And Medium-Sized Enterprises
The increasing number of small and medium-sized enterprises drove the growth of the public cloud market during the historic period. Small and medium-sized enterprises refer to businesses that fall within a certain size range in terms of their number of employees, annual revenue, or other relevant criteria. Public cloud services offer numerous benefits to small and medium-sized enterprises (SMEs) such as data storage, security, compliance and scalability for enhancing their operational efficiency, scalability and overall competitiveness. According to Oberlo, a Lithuania-based company that offers drop shipping tools, in 2022, the count of small businesses in the United States rose to 33.2 million, reflecting a 2.2% growth from the 32.5 million small businesses recorded in 2021. Therefore, the increasing number of small and medium-sized enterprises supported the growth of the public cloud market.
Launch Of Innovative Solutions With Focus On Hybrid Cloud Mesh
Major companies operating in the public cloud market are integrating their efforts in developing innovative solutions such as hybrid cloud mesh. A hybrid cloud mesh is a distributed IT system that combines elements of both public and private clouds, along with on-premises infrastructure, to create a flexible and interconnected environment. For example, in May 2023, International Business Machines Corporation, a US-based technology innovator company, announced the launch of the 'IBM Hybrid Cloud Mesh'. It is a SaaS (software-as-a-service) offering that is specifically designed to enable enterprises to control the management of their hybrid multi-cloud infrastructure. It helps to automate the process, observe the connectivity applications between private and public clouds and enhance the management required for operating the organization.
The global public cloud market is fairly concentrated, with a few large players operating in the market. The top ten competitors in the market made up to 31.38% of the total market in 2022.
Public Cloud Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global public cloud market as it emerges from the COVID-19 shutdown.
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Where is the largest and fastest-growing market for public cloud? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The public cloud market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider public cloud market; and compares it with other markets.
The report covers the following chapters
Introduction And Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by service, by organization size and by end-user.
Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
. Macro-Economic Scenario- The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the public cloud market.
Global Market Size And Growth- Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
Regional And Country Analysis- Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
Market Segmentation- Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by service, by organization size and by end-user market. Historic (2018-2023) and forecast (2023-2028) and (2028-2033) market values and growth and market share comparison by region market.
Regional Market Size And Growth- Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
Competitive Benchmarking- Briefs on the financials comparison between major players in the market
Competitive Dashboard - Briefs on competitive dashboard of major players.
Key Mergers And Acquisitions- Information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions, which have shaped the market in recent years.
Market Opportunities And Strategies - Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
Conclusions And Recommendations -This section includes recommendations for public cloud providers in terms of product/service offerings geographic expansion, marketing strategies and target groups next five years.
Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report..
Market Covered:
1) By Service: Platform As A Service (PaaS); Software As A Service (SaaS); Business Process As A Service (BpaaS); Desktop As A Service (DaaS); Infrastructure As A Service (IaaS)
2) By Organization Size: Small And Medium Enterprises (SmeS); Large Enterprises
3) By End-User: Banking, Financial Services And Insurance (BFSI); IT And Telecom; Healthcare; Retail And Ecommerce; Professional Service; Energy And Utilities; Manufacturing; Other End-Users
Companies Mentioned: Amazon.com, Inc.; Microsoft Corporation; Alphabet Inc.; Salesforce, Inc.; Alibaba Group Holding Limited