$313.1 Billion Worldwide Cloud Computing Services Industry to 2027 – Impact of COVID-19 on the Market – ResearchAndMarkets.com – Yahoo Finance

DUBLIN, September 06, 2021--(BUSINESS WIRE)--The "Cloud Computing Services - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Amid the COVID-19 crisis, the global market for Cloud Computing Services estimated at US$313.1 Billion in the year 2020, is projected to reach a revised size of US$937.5 Billion by 2027, growing at a CAGR of 17% over the analysis period 2020-2027.

Infrastructure as a Service, one of the segments analyzed in the report, is projected to record a 18.4% CAGR and reach US$449.3 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Platform as a Service segment is readjusted to a revised 16.2% CAGR for the next 7-year period.

The U.S. Market is Estimated at $84.2 Billion, While China is Forecast to Grow at 22.2% CAGR

The Cloud Computing Services market in the U.S. is estimated at US$84.2 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$222.5 Billion by the year 2027 trailing a CAGR of 22.1% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 12% and 15.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 13.4% CAGR.

Software as a Service Segment to Record 15.1% CAGR

In the global Software as a Service segment, USA, Canada, Japan, China and Europe will drive the 14.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$57.7 Billion in the year 2020 will reach a projected size of US$145.7 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$145.6 Billion by the year 2027, while Latin America will expand at a 16.8% CAGR through the analysis period.

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Select Competitors (Total 224 Featured):

Acquia Inc.

Adobe Inc.

Akamai Technologies, Inc.

Alibaba Cloud

Amazon Web Services, Inc.

CA Technologies, Inc.

Dell Inc.

ENKI Corporation

Fujitsu Limited

Google, Inc.

Hewlett-Packard Development Company, L.P.

IBM Corp.

Microsoft Corp.

NTT DATA Corporation

Oracle Corporation

OVH

Salesforce.com, Inc.

SAP SE

ServiceNow, Inc.

Virtustream, Inc.

Workday Inc.

Zoho Corporation Pvt. Ltd.

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

Influencer Market Insights

World Market Trajectories

Cloud Computing: A Technology Storm Wiping Out Old School ICT

Cloud Computing: A Logical Technology Choice for Budget Constrained Enterprises in a Slow Growing Global Economy

Cloud Computing Qualifies as the World's Most Disruptive Technology

Recent Market Activity

VC Investments in Cloud Computing Continues to Grow Strong

Virtualization Enables the Multi-Tenancy Concept of Public Clouds

Increased Adoption of Cloud Data Center Services Expands the Addressable Opportunity for Public Cloud Services

Data No Longer Lives in In-House Datacenters

Convergence of Enterprise Mobility and Cloud Computing Throws Up Lucrative Opportunities for Revenue Growth in Cloud Computing Services Market

Focus on Green IT & Sustainable ICT Throws the Spotlight On the "Cloud

Pure Private Clouds Become Less of a Threat to Public Cloud Services

Robust Growth of Hybrid Cloud Helps Increase Consumption of Public Cloud Services

Emergence of Cloud Brokerage Services Eliminates the Drawbacks of Vendor Lock-In Associated with Public Cloud

Developments in Internet Infrastructure Lays the Foundation for the Proliferation of Low Latency Cloud Computing Services

Cloud Advertising Services: The Largest Market Segment

SaaS: One of the Largest Segments of the Cloud Computing Services Market

Growing Organizational Need to Embrace Digital Transformation Fuels SaaS Growth

SaaS CRM Helps Companies Master the Art of Customer Relationships

Customization and Security Concerns Associated with SaaS Based CRM Drives Focus on Adapting PaaS for CRM Applications

Two Tired ERP Strategies Gain Prominence

The Need to Move Beyond Personal Productivity to Team Productivity Drives Demand for Cloud Based Office Productivity Software

IaaS: The Fastest Growing Segment of the Cloud Computing Services Market

Big Data Drives Demand for Storage as a Service (STaaS)

IaaS Print Set for Long Term Growth

"Apps Run the World": Strong Growth in Application Development Drives Demand for aPaaS

How the Cloud Transforms the Approaches to Application Development

Mushrooming of SMBs Spur Adoption of Cloud Computing Services

Comprehensive SLAs: A Solution to Overcome Ambiguity in Cloud Services

High Cloud Readiness Index Brings Developing Countries as Focal Points for Future Growth

Competition Heats Up

Commonly Encountered Challenges to Public Cloud Deployment

Migration Onto the Cloud: Not So Easy As it Seems

Legal, Regulatory, and Business Risks: The Three Most Peskiest Issues

Lack of Interoperability

Impact of Covid-19 and a Looming Global Recession

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/e00tbu.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210906005247/en/

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$313.1 Billion Worldwide Cloud Computing Services Industry to 2027 - Impact of COVID-19 on the Market - ResearchAndMarkets.com - Yahoo Finance