Cloud Computing Market Continues to Expand with a Projected CAGR of 9.3% by 2030, says MarkWide Research
MarkWide Research’s recent report, titled “Cloud Computing Market: Trends, Innovations, and Growth Forecast 2023-2030,” sheds light on the remarkable growth trajectory of the global cloud computing market. With a projected Compound Annual Growth Rate (CAGR) of 9.3% from 2023 to 2030, the market is poised to witness substantial expansion driven by digital transformation, remote work trends, and increased demand for scalable and cost-efficient IT solutions.
Cloud computing has revolutionized the way businesses and individuals access, store, and manage data and applications. The “Cloud Computing Market: Trends, Innovations, and Growth Forecast 2023-2030″ report underscores the pivotal role of cloud technology in enabling agility, innovation, and collaboration across various industries.
The report segments the market based on service type, deployment model, and industry vertical. Service types include Infrastructure as a Service (IaaS), Platform as a Service (PaaS), and Software as a Service (SaaS). Among these, SaaS is expected to dominate the market due to its user-friendly nature and wide range of applications.
Deployment models encompass public cloud, private cloud, and hybrid cloud. The hybrid cloud segment is anticipated to witness significant growth as organizations seek a balance between utilizing cloud resources and maintaining on-premises infrastructure.
The cloud computing market serves diverse industry verticals, including healthcare, finance, retail, and more. The increasing demand for data storage, real-time analytics, and seamless remote collaboration is driving adoption across these sectors.
Geographically, North America and Europe are set to lead the cloud computing market due to their robust technology infrastructure and early adoption of cloud solutions. The Asia-Pacific region is poised for rapid growth, fueled by increasing digitalization, expanding internet connectivity, and a growing entrepreneurial landscape.
The “Cloud Computing Market: Trends, Innovations, and Growth Forecast 2023-2030” report profiles key players in the market, ranging from cloud service providers to technology giants. The competitive landscape showcases strategies such as strategic partnerships, acquisitions, and investments in data security and compliance.
As businesses worldwide navigate the digital age, the cloud computing market remains a cornerstone of their technological evolution. MarkWide Research’s comprehensive report offers insights and analysis that will guide IT professionals, business leaders, and industry stakeholders in harnessing the potential of cloud technology.