The global cloud market was valued at US$ 483.98 billion in 2022 and is projected to reach US$ 1,554.94 billion by 2030, growing at a CAGR of 14.1% from 2023-2030. The growth of the market is attributed to the increasing adoption of cloud-based services by businesses across various industries, as well as the rising demand for hybrid cloud solutions.

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Emerging technologies such as artificial intelligence, machine learning, and the Internet of Things require scalable and flexible computing infrastructure. Cloud computing offers the necessary computing resources to support these emerging technologies, driving demand for cloud services. The factors restraining to global cloud market include cloud services requiring a reliable and fast internet connection, which can be a challenge in certain regions or for businesses with limited access to high-speed internet. This could limit the adoption of cloud services, particularly in rural or remote areas.

Market Dynamics

SaaS provides businesses with access to cloud-based software applications, which they can use to manage their operations or deliver services to their customers. SaaS is expected to continue to grow in the coming years, driven by the increasing adoption of cloud-based office productivity tools, collaboration software, and customer relationship management (CRM) software.

Cloud advertising is a relatively small segment of the cloud market, but it is expected to grow in the coming years, driven by the increasing use of programmatic advertising and the growing demand for real-time advertising analytics. Cloud storage provides businesses with a way to store and manage their data in the cloud. Cloud storage is expected to continue to grow in the coming years, driven by the increasing demand for data storage and backup services, as well as the growing use of cloud-based content management systems and media asset management systems.

Regional Analysis

The Asia-Pacific region is the fastest-growing market for cloud services, driven by the increasing adoption of cloud services in emerging economies, such as India and China. The increasing use of mobile devices and the growth of e-commerce in the region have also contributed to the growth of the cloud market. Japan, China, and Australia are the leading countries in the region in terms of cloud adoption. Latin America is an emerging market for cloud services, driven by the increasing adoption of cloud services in countries such as Brazil and Mexico. The increasing demand for cloud-based solutions in industries such as healthcare and finance has also contributed to the growth of the cloud market in the region.

The global cloud market is segmented into categorized into various segments such as service outlook, deployment outlook, enterprise size outlook, end use outlook, and region. Based on service outlook, the global cloud market is segmented into Infrastructure as a Service (IaaS), Platform as a Service (PaaS) and Software as a Service (SaaS). Based on deployment outlook, the global cloud market is segmented into Public, Private and Hybrid. Based on enterprise size outlook, the global cloud market is segmented into Large Enterprises and Small & Medium Enterprises. Based on end use outlook, the global cloud market is segmented into BFSI, IT & Telecom, Retail & Consumer Goods, Manufacturing, Energy & Utilities, Healthcare, Media & Entertainment, Government & Public Sector and Others.

IaaS is the largest segment of the cloud market, accounting for a significant portion of the total market revenue. IaaS provides businesses with access to computing resources, such as servers, storage, and networking, which they can use to build and manage their own applications or services. The IaaS market is expected to continue to grow in the coming years, driven by the increasing demand for scalable and flexible computing resources.

PaaS provides businesses with a platform for developing and deploying their own applications or services, without having to worry about the underlying infrastructure. PaaS is expected to grow in the coming years, driven by the increasing adoption of cloud-based application development platforms, as well as the growing demand for microservices and containerization.

The healthcare industry is another major end-user of cloud services. Cloud computing has enabled healthcare providers to store, manage, and share patient data securely and efficiently. The adoption of cloud services in the healthcare industry is driven by factors such as the need for cost-effective and scalable storage solutions, the growing demand for telemedicine services, and the need for better collaboration and information sharing among healthcare providers.

The retail industry has also been a major adopter of cloud services. Cloud computing has enabled retailers to improve their operational efficiency, reduce costs, and provide a better customer experience. The adoption of cloud services in the retail industry is driven by factors such as the need for real-time inventory management, the growing demand for e-commerce, and the need for better data analytics and insights.

Competitive Analysis

The manufacturing industry is another major end-user of cloud services. Cloud computing has enabled manufacturers to improve their operational efficiency, reduce costs, and enhance their supply chain management. The adoption of cloud services in the manufacturing industry is driven by factors such as the need for real-time monitoring of production processes, the growing demand for predictive maintenance, and the need for better collaboration and information sharing among manufacturers and suppliers.

The market players in the global cloud market include Adobe Inc.Alibaba Group Holding Limited, Amazon.com Inc., Google LLC, International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, Salesforce.com Inc., SAP SE, and Workday, Inc.

IBM Cloud is a major player in the cloud market, with a significant market share in the PaaS and SaaS segments. IBM Cloud offers a wide range of cloud services, including computing, storage, database, analytics, and blockchain services. Salesforce is a major player in the cloud market, with a significant market share in the SaaS segment. Salesforce offers a wide range of cloud services, including sales, marketing, and customer service software.

Segmentation Analysis of The Global Cloud Market 2016-2030

The report forecasts revenue growth at global, regional, and country matrics and analyzed the latest industry trends in each of the sub-segments ranging from 2016-2030. For this, CDI has segmented the global cloud market report based on capacity, vehicle, application, and propulsion type along with regional analysis. 

Service Outlook (Revenue, USD Billion, 2016 - 2030)

• Infrastructure as a Service (IaaS)
• Platform as a Service (PaaS)
• Software as a Service (SaaS)

Deployment Outlook (Revenue, USD Billion, 2016 - 2030)

• Public
• Private
• Hybrid

Enterprise Size Outlook (Revenue, USD Billion, 2016 - 2030)

• Large Enterprises
• Small & Medium Enterprises

End-use Outlook (Revenue, USD Billion, 2016 - 2030)

• BFSI
• IT & Telecom
• Retail & Consumer Goods
• Manufacturing
• Energy & Utilities
• Healthcare
• Media & Entertainment
• Government & Public Sector
• Others

Regional Outlook (Revenue, USD Billion, 2016 - 2030)

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• France
• Italy
• Spain
• UK
• Nordic Countries
• Denmark
• Finland
• Iceland
• Sweden
• Norway
• Benelux Union
• Belgium
• The Netherlands
• Luxembourg
• Rest of Europe
• Asia-Pacific
• Japan
• China
• India
• Australia
• South Korea
• Southeast Asia
• Indonesia
• Thailand
• Malaysia
• Singapore
• Rest of Southeast Asia
• Rest of Asia-Pacific
• The Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of the Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America