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According to a new report Global Public Cloud Market, published by KBV research, The Global Public Cloud Market size is expected to reach $488.5 billion by 2026, rising at a market growth of 16% CAGR during the forecast period.
Small and medium-sized enterprises is projected to be the fastest growing segment due to reduced IT hardware and software costs, enhanced computing power and storage elasticity, and expanded versatility of data and service usage. Growth in technology adoption among small and medium-sized enterprises in emerging economies such as India, Brazil, Vietnam and the Philippines is expected to fuel demand growth over the projected period. The Large Enterprises market is expected to witness a CAGR of 6.5% during (2020 - 2026).
The manufacturing end-use segment is expected to grow at the fastest CAGR over the forecast period. The market research claims that executive management in retail, high-tech and telecommunications is expected to take full advantage of cloud-based resources. The BFSI market dominated the Global Public Cloud Market by Industry Vertical 2019.
North America is the largest global market for public cloud adoption in the world, accounting for the highest market share compared to other regions. The key growth factor for this region is the growing enterprise strategy for integrating existing cloud technology platforms across different industrial sectors, which has enabled significant market trends of investment. The Europe market is experiencing a CAGR of 15.1% during (2020 - 2026).
Asia Pacific is expected to emerge as the fastest-growing market due to the rising attention of small and medium-sized businesses and large companies to strengthen their digital initiatives. The involvement of large companies, such as IBM, in setting up cloud computing centers in China, India, South Korea and Vietnam is likely to fuel growth.
Structural Insights: https://www.kbvresearch.com/public-cloud-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of IBM Corporation, Amazon.com, Inc., Salesforce.com, Inc., Microsoft Corporation, Google, Inc., Oracle Corporation, Hewlett Packard Enterprise Company, Dell Technologies, Inc., Cisco Systems, Inc., and Fujitsu Limited.
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