Stratistics MRC’s Global Public Cloud Market value is expected to reach $2,176.96 billion growing at a CAGR of 19.3% during 2023-2030.
The term “public cloud” refers to an IT architecture where cloud service providers offer resources like computation and storage, applications, and develop-and-deploy environments to businesses and people on demand across open public networks. Where the physical infrastructure is typically owned and maintained by the provider, public clouds are available. They may offer either a dedicated or shared operating environment, with the advantages of accountability and the capacity to grow smoothly as needed. These services eliminate the need for upfront server purchases by providing attributes like infinite capacity, potentially appealing prices resulting from massive infrastructures and associated operational procedures, and a pay-as-you-go pricing approach.
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Asia Pacific is projected to have the highest CAGR over the forecast period. The regional market had a significant influence due to the fast rise of China and India as well as the emergence of local firms like the Alibaba Group. Additionally, hyper scale cloud providers like Azure, Amazon Web Services (AWS), and Google LLP are developing their data centers in countries like Indonesia and Thailand to accommodate the governments’ demands for data sovereignty. The establishment of the Asia Cloud Computing Association, a regional forum including Cisco Systems, Rackspace, REACH, Telenor, EMC Corporation, NetApp, Nokia Siemens Networks, Microsoft, Alcatel-Lucent, Verizon, and PLDT/Smart as partners, is anticipated to spur regional development.
Some of the key players profiled in the Public Cloud Market include Amazon Web Services, Inc., Alibaba Group Holding Limited, Adobe Inc., Cisco Systems, CenturyLink, Inc., OVHcloud, Rackspace Technology, Inc., Google LLC, Huawei Technologies Co., Ltd., IBM Corporation, DigitalOcean LLC, Microsoft Corporation, Joyent Inc., Oracle Corporation, Red Hat Inc., Salesforce.com Inc., Workday, Inc., SAP SE, NTT Communications Corporation and Fujitsu Limited.
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Key Developments:
In June 2023, Amazon Web Services, Inc. (AWS) announced a new initiative to assist customers in effectively developinggenerative AI solutions called the AWS Generative AI Innovation Centre. This will pair its machine learning (ML) and AI professionals with global clients to assist with the conception, creation, and introduction of new generative AI products, services, and procedures.
In June 2023, Adobe announced Adobe Experience Cloud, which features strong generative AI advancements for enterprise businesses looking to boost productivity and personalize customer experiences. The new service powered by Adobe Sensei GenAI will be fully integrated across customer journey analytics, experience manager, and journey optimizer.
In June 2023, Microsoft Corporation announced new skills to aid organizations in managing and collecting more ESG data. Customers will soon have complete visibility into their environmental impact across carbon, water, and waste thanks to an expansion of Microsoft Sustainability Manager, a cloud for sustainability products.
In May 2023, SAP, the world leader in enterprise application software and cloud solutions, announced its support to transform Apollo Tyres Limited (ATL) into an intelligent, sustainable firm. It is going to assist Apollo Tyres Limited in putting its digital core onto the cloud.
In April 2023, Alibaba Cloud, the digital technology and intellectual backbone of Alibaba Group, unveiled its latest large language model, Tongyi Qianwen. Soon, the new AI model will be implemented across all of Alibaba’s companies to enhance user experience cost-effectively.
What our report offers:
– Market share assessments for the regional and country-level segments
– Strategic recommendations for the new entrants
– Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
– Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
– Strategic recommendations in key business segments based on the market estimations
– Competitive landscaping mapping the key common trends
– Company profiling with detailed strategies, financials, and recent developments
– Supply chain trends mapping the latest technological advancements
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