Public Cloud Market is expected to register strong growth during 2032 owing to the budding deployment of IaaS and PaaS in SMEs. IaaS and PaaS deployment offers several benefits, such as saving time and resources, avoiding high investment, and offering third-party expertise.
Moreover, the demand for IaaS is increasing as it assists companies in easily renting a computerized infrastructure from a remote location, thereby supporting their technological needs without massive investment. Besides, scalability, simplified disaster recovery, cost savings, staying up-to-date, and resource optimization are key benefits slated to increase the demand for the public cloud industry in the coming years.
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Public clouds are gaining strong traction recently, offering over 99% uptime and no risk of failure. As the overall cloud system connects several servers, during the failures the other server takes over the workload, ensuring smooth and constant performance for business-critical applications.
Overall, the public cloud market is segmented in terms of deployment model, organization size, application, and region.
Based on the deployment model, the public cloud market from PaaS segment is slated to depict 15% CAGR between 2023-2032. Increasing deployment of PaaS empowers users to develop, run, and manage apps without building and maintaining the operations. Besides, advantages such as easy provisioning and resource management, quick deployment of various platforms, cost savings, fewer difficult setup and configuration steps, and less knowledge requirement will spur its adoption in the future.
By organization size, the public cloud market from the large enterprise segment is expected to grow considerably through 2032. Increasing shift of large enterprises to public cloud application models as these enterprises have less-sensitive data that requires large storage space, will help the segment to grow in the future. Companies prefer public cloud for less-sensitive data, which is cost-effective and helps integrate innovative measures into business models.
Considering the application, the BFSI industry held over 20% market share in 2022. The BFSI industry opts for public cloud as it strengthens business operations and increases customer relationships. In addition, the public cloud offers banking efficiency, improves customer data management, and provides more security with fraud detection features than traditional data management systems.
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Regionally, the Asia Pacific public cloud market is anticipated to exhibit over 15% CAGR through 2032. The presence of leading market players that are seeking collaborative efforts to enhance their cloud storage services will positively influence the regional outlook in the coming years.
Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Public cloud 360° synopsis, 2018-2032
2.2 Business trends
2.2.1 Total Addressable Market (TAM), 2023-2032
2.3 Regional trends
2.4 Deployment model trends
2.5 Organization Size trends
2.6 Application trends
Chapter 3 Public Cloud Market Market Insights
3.2 Impact of COVID-19
3.2.1 North America
3.2.3 Asia Pacific
3.3 Russia- Ukraine war impact
3.4 Industry ecosystem analysis
3.4.1 Platform providers
3.4.2 Service provider
3.4.3 System integrators
3.4.4 Distribution channel analysis
3.4.5 End-users landscape
3.4.6 Profit margin analysis
3.4.7 Vendor matrix
3.5 Technology & innovation landscape
3.6 Patent analysis
3.7 Key initiative and news
3.8 Regulatory landscape
3.8.1 North America
3.8.3 Asia Pacific
3.9 Industry impact forces
3.9.1 Growth drivers
220.127.116.11 Increasing Integration of big data, AI and ML with cloud
18.104.22.168 Increasing Public cloud spending
22.214.171.124 Growing adoption of cloud computing solutions in developing countries
126.96.36.199 Rising deployment of IaaS and PaaS in SMEs
188.8.131.52 Cost effective and scalable
3.9.2 Industry pitfalls & challenges
184.108.40.206 Data privacy and information security concerns
220.127.116.11 Cloud Wastage
3.10 Growth potential analysis
3.11 Porter’s analysis
3.12 PESTEL analysis
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