Nov 2, 2021
83 Views
0 0

Global cloud computing market to reach nearly £600bn by 2028

Written by

ARTICLE
LOG IN
The global cloud computing market is expected to reach $791.5 billion (£578.8bn) in size by 2028, more than three times its current 2021 valuation of $250 billion (£182.8bn).
Charting the market’s expected growth, Fortune Business Insights found in its report, titled “Cloud Computing Market, 2021-2028”, that the period will see a 17.9% compound annual growth rate (CAGR).
The report profiles major international corporations involved in cloud computing, such as Alibaba, Amazon Web Services, IBM, and Microsoft, whilst also considering the role of government projects and investments.
Government interest in cloud solutions is projected to centre around the US, UK, China, and India, with the growing implementation of cutting-edge tech such as AI and machine learning enhancing this transition globally.
In terms of regions, North America is expected to maintain its dominant hold over market share across the entire period, although what was a 35.7% share of the market in 2020 will diminish as the playing field levels.
Asia Pacific is anticipated to see the greatest surge in growth as demand for cloud-based solutions increases, especially in industries such as manufacturing and healthcare.
One key factor that may restrain the global cloud market’s growth this decade is data security and privacy concerns, which if not effectively addressed could damage the revenue of healthcare, telecoms, and other sectors.
The Fortune report also includes individual forecasts on the cloud market based on type, which provides analysis across private, public, and hybrid systems, as well as service, which looks at software, platform, and infrastructure respectively.
Find out more about Digital Transformation Week North America, taking place on November 9-10 2021, a virtual event and conference exploring advanced DTX strategies for a ‘digital everything’ world. 
Tags: ,
Your email address will not be published. Required fields are marked *






Cloud Tech promotes industry thought leadership content from industry brands, businesses and analysts, partnering with writers and bloggers to deliver insight and advice on cloud IT strategy to our extensive audience of CIOs and IT managers.
Covering SaaS news, cloud computing jobs, virtualization strategy, cloud apps and enterprise IT, private and public cloud, system security, cloud apps, CRM and cloud communications, Cloud Tech provides the latest insight that enables CIOs to make informed decisions about IT strategy.
For more information, visit our privacy policy page here.
Copyright © 2021 Cloud Computing News. All Rights Reserved.
Not subscribed / a member yet?
Step 1 of 3
Already a member / subscriber?
Accessing our website tells us you are happy to receive all our cookies. If you need more information find out more on our privacy policy page.
Accessing our website tells us you are happy to receive all our cookies. If you need more information find out more on our privacy policy page.
Privacy Policy

source

Article Categories:
Cloud Security

Comments are closed.