The word ‘cloud services’ refers to delivery of information technology resources and applications on-demand through the Internet platform. Companies in the cloud services industry provide access to servers, storage, databases and a broad set of application services managed by a hardware networking.
Cloud computing has significantly grown in popularity as new models have emerged and developed to meet different needs of users. Each type segment offers different levels of control, flexibility, and management. These division of cloud services are Infrastructure as a Service, Platform as a Service and Software as a Service.
The global cloud services market has been growing in the past years with a CAGR of almost 7%. TBRC’s latest report show the historic and future trends in the market for each year with sourced reasons to support the growth claims.
The report also shows the global cloud services market to grow at a lower CAGR by 2021 as compared to 2017, along with geographies best suited for investments with highest return rate.
With growth and technological advances in the cloud industry, companies are witnessing a growing demand of hybrid cloud model. Hybrid cloud services meet organization’s regulatory norms while also benefiting from the economies of the cloud. They also support organizations in adopting cloud technology without making changes to the existing infrastructure. Since hybrid clouds limit the costs of users, demand has been growing among midsize enterprises.
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Companies included in the report are Microsoft, IBM, Amazon Web Services, VMware Inc., Salesforce.com, and Google.
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