The global public cloud services market is expected to post a CAGR of more than 13% during the period 2019-2023, according to the latest market research report by Technavio. However, the market’s momentum will decelerate in the coming years because of the decrease in year-over-year growth.
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Technavio has announced its latest market research report titled the global public cloud services market 2019-2023. (Graphic: Business Wire)
Enterprises are increasingly implementing new data analysis models using advanced technologies such as IoT, AI, big data, and ML. This is mainly because data plays a crucial role in an enterprise’s decision-making process. The huge volumes of datasets generated through these technologies cannot be handled with the current server estate of x86 servers. Thus, manufacturers are increasingly focusing on introducing new server designs and high computation power. Moreover, as setting up a data center at an organizational level requires heavy investment, organizations are increasingly opting for public cloud storage and server services. This will fuel the growth of the market during the forecast period.
As per Technavio, the shift toward server virtualization will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global public cloud services market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Public Cloud Services Market: Shift toward Server Virtualization
Virtualization is increasingly becoming popular, in which single physical servers are divided into multiple instances using the virtualization software. This allows a greater number of applications to be addressed by a single server or resources. Server virtualization also helps in reducing the overall operating cost and storage space, thereby boosting the productivity of enterprises. Various public cloud service providers are providing servers and storage capacity by creating virtual instances of a single physical server. Thus, the increasing use of virtual servers will boost the public cloud services market growth during the forecast period.
“Apart from the shift toward server virtualization, other factors such as strategic partnerships and collaborations among vendors, and the increasing number of data center providers will have a significant impact on the growth of the public cloud services market value during the forecast period,” says a senior analyst at Technavio.
Global Public Cloud Services Market: Segmentation Analysis
This market research report segments the global public cloud services market worth by service (SaaS, IaaS, and PaaS), and geographic regions (North America, Europe, APAC, South America, and MEA).
The North American region led the public cloud services market in 2018, followed by Europe, APAC, South America, and MEA, respectively. The public cloud services market analysis report identifies the factors such as the increased adoption of cloud computing services, and a rise in data center investments to account for the market dominance of North America during the forecast period.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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