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How Will the Public Cloud Market Perform in the Near Future?
The public cloud market size has grown rapidly in recent years. It is projected to grow from $688.33 billion in 2024 to $813.15 billion in 2025 at a compound annual growth rate (CAGR) of 18.1%. Factors such as increased computing power, growth in the entertainment industry, automotive design and testing, and cost savings have all contributed to this increase.
The public cloud market size is expected to witness exponential growth in the next few years, with projections stating that it will rise to $1766.26 billion in 2029 at a CAGR of 21.4%. Evolving needs in gaming and entertainment, autonomous vehicles development, healthcare simulation advances, scientific research are predicted to drive this growth. Major trends for this forecast period include industry 4.0 and digital twins, cloud-based rendering services, cross-industry collaboration, integration of AI and machine learning, and realism and high-fidelity graphics.
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What is Driving the Growth of the Public Cloud Market?
The rising use of 5G technology is expected to drive the growth of the public cloud market onwards. 5G technology, the fifth generation of mobile networks, seeks to connect everyone and everything, including machines, objects, and devices. The technology offers faster speeds, lower latency, enhanced capacity, cultivating advanced applications like AR/VR, edge computing, and IoT. Moreover, 5G technology enhances reliable access to cloud services and virtual computers via mobile devices.
What are the Major Segments in the Global Public Cloud Market?
The public cloud market report segments the market as follows:
1) By Component: Hardware, Software
2) By Service: Business Process Services (BPaaS), Application Infrastructure Services (PaaS), Application Services, Management And Security Services, Systems Infrastructure Services (IaaS), Advertising
3) By Organization Size: Small And Medium Enterprises, Large Enterprises
4) By End-User: Discrete Manufacturing, Professional Services, Banking, Process Manufacturing, Retail, Other End-Users
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Who Are the Major Players in the Public Cloud Market?
Major companies operating in the public cloud market are International Business Machines Corporation, Amazon Web Services Inc., Salesforce Inc., Oracle Corporation, Microsoft Corporation, Google LLC, Cisco Systems Inc., VMware Inc., Verizon Wireless Inc., SAP SE, Rackspace Technology Inc., Fujitsu Limited, CenturyLink Inc., Alibaba Group, NTT Communications Corporation, Workday Inc., Faction Global Infotech Pvt. Ltd., DigitalOcean Holdings Inc., Vultr, Linode LLC, OVH Groupe SA, Joyent Inc., Virtustream Inc., Interoute Communications Ltd., BT Group, Sungard Availability Services, NaviSite Inc., Expedient, Lunavi Inc., Phoenix NAP LLC.
What are the Emerging Trends in the Public Cloud Market?
Major companies operating in the public cloud market are focusing on developing technologically innovative solutions, including public cloud platforms, to enhance business scalability, flexibility, and cost efficiency.
Which are the Largest and Fastest-Growing Regions in the Public Cloud Market?
North America was the largest player in the public cloud market in 2024, with expectations of remaining the fastest-growing region in the global public cloud market during the forecast period.
What is the Public Cloud Market and what will it Offer in 2025?
A public cloud refers to a form of cloud computing in which computer services and infrastructure are offered by a third party and distributed to several customers via the Internet. The Public Cloud Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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