The Community Cloud Market is Predict to reach USD 41.8 Billion by 2031, at a CAGR of 28.9%

Community Cloud Market Growth, Trends and Report Highlights

According to a new report, published by KBV research, The Global Community Cloud Market size is expected to reach $41.8 billion by 2031, rising at a market growth of 28.9% CAGR during the forecast period.

The Software segment is anticipating a CAGR of 29.7% during (2024 - 2031). Software development and deployment tools, continuous integration/continuous deployment (CI/CD) pipelines, version control systems, and integrated development environments (IDEs) enable community members to build, test, and deploy applications within the community cloud environment. These tools streamline the development lifecycle, accelerate time-to-market, and promote innovation within the community.

The Cloud-based Storage segment is leading the Global Community Cloud Market by Application in 2023; thereby, achieving a market value of $15.4 billion by 2031. Cloud backup and recovery solutions play a key role in disaster recovery planning within community clouds. Community members can replicate their data and applications to geographically dispersed cloud data centers, ensuring redundancy and resilience in a localized outage or catastrophic failure. In a disaster, community members can quickly restore their data and applications from backup copies stored in the cloud, minimizing downtime and ensuring business continuity.

The Government segment is registering a CAGR of 29.6% during (2024 - 2031). Government agencies handle vast amounts of sensitive and confidential data, including citizen records, tax information, and national security data. Community clouds offer specialized security features, encryption protocols, and compliance certifications to ensure data protection, privacy, and regulatory adherence. By deploying community clouds that comply with government standards and certifications (e.g., FedRAMP in the United States), government agencies can enhance data security, mitigate cybersecurity risks, and maintain compliance with relevant regulations and mandates.

Full Report: https://www.kbvresearch.com/community-cloud-market/

The North America region dominated the Global Community Cloud Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $14.4 billion by 2031. The Europe region is experiencing a CAGR of 28.5% during (2024 - 2031). Additionally, The Asia Pacific region would exhibit a CAGR of 29.9% during (2024 - 2031).

List of Key Companies Profiled

• Cisco Systems, Inc.
• Hewlett Packard enterprise Company
• IBM Corporation
• Microsoft Corporation
• Salesforce, Inc.
• Akamai Technologies, Inc.
• Amazon Web Services, Inc. (Amazon.com, Inc.)
• Broadcom, Inc.
• Google LLC (Alphabet Inc.)
• Dell Technologies, Inc.

Community Cloud Market Report Segmentation

By Component

• Hardware
  • Networking
  • Storage
  • Server
• Software
  • Enterprise Application Software
  • Business Intelligence & Dashboard
  • Collaboration Tool Software
• Services

By Application

• Cloud-based Storage
• Cloud Backup & Recovery
• Cloud Security & Data Privacy
• Others

By End-use

• BFSI
• Government
• Healthcare
• IT & Telecommunication
• Education
• Others

By Geography

• North America
  • US
  • Canada
  • Mexico
  • Rest of North America
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Malaysia
  • Rest of Asia Pacific
• LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA

Related Reports:

North America Community Cloud Market Size & Share by 2031

• June-2024
• 143 Pages

LAMEA Community Cloud Market Size & Growth Report to 2031

• June-2024
• 159 Pages

Europe Community Cloud Market Size & Growth | Trends 2031

• June-2024
• 162 Pages

Asia Pacific Community Cloud Market Size & Analysis, 2031

• June-2024
• 162 Pages