Harrisburg, NC -- (SBWIRE) -- 10/16/2020 -- The Global Cloud Services Market Research Report provides an industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). It provides an in-depth study of the Cloud Services market by using SWOT analysis. This gives a complete analysis of drivers, restraints, and opportunities of the market. This report presents a comprehensive overview, market size and share, regional and country-level analysis of the Cloud Services market. The segmental analysis focuses on forecast by Type, Application in terms of revenue and forecast for the period 2020-2030.
The global cloud services market is expected to grow from $344.4 billion in 2019 to $354.8 billion in 2020 at a compound annual growth rate (CAGR) of 3.1%. The low growth is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 12% from 2021 and reach $490.4 billion in 2023
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Top Key Players in the Global Cloud Services Market: IBM, Microsoft, Amazon, Google, Salesforce
North America was the largest region in the global cloud services market, accounting for 61% of the market in 2019. Western Europe was the second largest region accounting for 21% of the global cloud services market. Africa was the smallest region in the global cloud services market.
Cloud services companies are offering concise solutions and quick turnarounds for their customers. Changes in data processing technologies enable companies to move functions to data rather than data moving to functions. Bypassing layers of the technology stack has improved cloud services companies' productivity. For example, with the new warehouse platforms in the insurance industry, queries that took hours now run in minutes, delivering critical insights to insurance companies.
The cloud services market consists of sales of cloud services by entities (organizations, sole traders and partnerships) that provide cloud services or the delivery of information technology resources and applications on-demand through an Internet platform. Companies in the cloud services industry provide access to servers, storage, databases and a broad set of application services managed by hardware networking. This market includes sales of storage servers that are used to store, access, secure and manage digital data, files and services.
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Regional Analysis for Market:
For a comprehensive understanding of market dynamics, the global Cloud Services market is analyzed across key geographies namely: United States, China, Europe, Japan, South-east Asia, India, and others. Each of these regions is analyzed on the basis of market findings across major countries in these regions for a macro-level understanding of the market.
Table of Contents:
Executive Summary: It includes key trends of the Cloud Services market related to products, applications, and other crucial factors. It also provides an analysis of the competitive landscape and CAGR and market size of the Cloud Services market based on production and revenue.
Production and Consumption by Region: It covers all regional markets to which the research study relates. Prices and key players in addition to production and consumption in each regional market are discussed.
Key Players: Here, the report throws light on financial ratios, pricing structure, production cost, gross profit, sales volume, revenue, and gross margin of leading and prominent companies competing in the Cloud Services market.
Market Segments: This part of the report discusses product type and application segments of the Cloud Services market based on market share, CAGR, market size, and various other factors.
Research Methodology: This section discusses the research methodology and approach used to prepare the report. It covers data triangulation, market breakdown, market size estimation, and research design and/or programs.
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Note: All the reports that we list have been tracking the impact of COVID-19 on the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.
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