A public cloud is one on the basis of the usual cloud computing model, in which a service provider makes assets, for example, virtual machines (VMs), storage or applications, accessible to the overall population over the web. Public cloud services might be free or offered on a compensation for pay-per utilization model. The principal advantages of utilizing a public cloud service are it diminishes the requirement for associations to put resources into and keep up their own on-premises IT assets, it empowers adaptability to meet workload and client requests and there are less wasted resources since clients pay for the resources they utilize.
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The worldwide market for public cloud services is projected to exceed a value of US$ 640 Billion during 2022. The overall market is also projected to record a remarkable CAGR of 19.7% over the conjecture time frame of 2017-2022.
On the basis of region, the overall market is assessed across Europe, Latin America, North America, APEJ, Japan and MEA.
Based on the type, the overall market is segmented into cloud application services (SaaS), cloud business process services (BPaaS), cloud system infrastructure services(IaaS), cloud application infrastructure services( PaaS), cloud advertising and cloud management & security services. The cloud advertising is projected to witness the biggest growth in terms of revenue and will account for more than US$ 24,000 Million through 2017. On the other hand, the cloud enterprise is anticipated to reflect the maximum CAGR in the overall market all through 2022.
On the basis of vertical, the worldwide market is categorised into BFSI, government, telecommunication, transportation, healthcare, energy & utilities, media & entertainment, manufacturing, retail/ wholesale and others. The BFSI category is anticipated to witness the largest growth in revenue terms by accounting for more than US$ 45,000 Million in the overall market for public cloud service. The cloud services are moreover likely to see substantial implementation so as to amend the patient care system. Healthcare category is projected to record the biggest CAGR growth in the overall market all through 2022.
The overall market on the basis of enterprise type is categorised into the small & medium enterprise and large enterprise. The large enterprise category is projected to account for a significant growth in terms of revenue, reflecting more than US$ 47,000 Million in the worldwide market by 2022 end. On the other hand, the small enterprise category is likely to record the maximum CAGR in the worldwide market all through 2022.
Key Market Players
Some of the prominent companies functional in the overall market include
- Microsoft Corp.
- Alphabet Inc.
- Oracle Corp.
- International Business Machines Corp.
- Amazon Web Services Inc
- CenturyLink Inc.
- VMware Inc.
- com Inc.
- Red Hat Inc.
- Adobe Systems Inc.