Cloud Computing Services

Global Cloud Computing Services Market to Reach US$2.1 Trillion by 2030

The global market for Cloud Computing Services estimated at US$911.8 Billion in the year 2024, is expected to reach US$2.1 Trillion by 2030, growing at a CAGR of 15.3% over the analysis period 2024-2030. Software as a Service (SaaS), one of the segments analyzed in the report, is expected to record a 15.1% CAGR and reach US$1.3 Trillion by the end of the analysis period. Growth in the Infrastructure as a Service (IaaS) segment is estimated at 17.2% CAGR over the analysis period.

The U.S. Market is Estimated at US$230.7 Billion While China is Forecast to Grow at 19.8% CAGR

The Cloud Computing Services market in the U.S. is estimated at US$230.7 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$547.2 Billion by the year 2030 trailing a CAGR of 19.8% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 10.3% and 12.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 11.3% CAGR.

Cloud Computing Services - Key Trends and Drivers

Cloud computing services have revolutionized the IT landscape by offering scalable, flexible, and cost-effective solutions for both businesses and individuals. These services encompass a wide range of offerings, including Infrastructure as a Service (IaaS), Platform as a Service (PaaS), and Software as a Service (SaaS). IaaS provides essential computing infrastructure such as virtual machines, storage, and networks, allowing organizations to avoid the high costs associated with maintaining physical hardware. PaaS offers a platform allowing developers to build, deploy, and manage applications without worrying about underlying infrastructure, thus accelerating development cycles. SaaS delivers software applications over the internet, eliminating the need for local installation and enabling users to access software on a subscription basis. This cloud model reduces the need for organizations to make significant upfront investments in physical infrastructure and enables them to leverage advanced capabilities offered by cloud providers. This shift is particularly beneficial for small and medium-sized enterprises (SMEs), which often lack the capital and expertise to manage extensive IT systems.

The shift to cloud computing is further driven by the increasing complexity and volume of data that organizations must manage. Cloud services offer advanced data analytics, storage, and processing capabilities that are essential for handling big data. These capabilities enable businesses to gain insights from large datasets, optimizing operations and driving strategic decision-making. Furthermore, the rise of remote work and the need for robust collaboration tools have significantly accelerated the adoption of cloud-based solutions. Platforms such as Google Workspace and Microsoft 365 provide seamless collaboration and productivity tools accessible from any location, making them indispensable in the modern work environment. These tools offer real-time editing, file sharing, video conferencing, and other collaborative features that enhance productivity and communication among remote teams. Additionally, the integration of artificial intelligence (AI) and machine learning (ML) into cloud services is opening new avenues for automation and operational efficiency. AI and ML capabilities embedded in cloud platforms enable businesses to automate routine tasks, predict trends, and make data-driven decisions, thus improving overall efficiency and competitiveness.

The growth in the cloud computing services market is driven by several factors. One of the primary drivers is the rapid digital transformation across industries, which necessitates scalable and flexible IT solutions. The proliferation of Internet of Things (IoT) devices generates vast amounts of data that require robust storage and processing capabilities, further boosting demand for cloud services. The ongoing shift towards subscription-based models in software and IT services enhances the appeal of cloud solutions, offering predictable costs, regular updates, and easy scalability. Subscription models provide businesses with the flexibility to scale their usage up or down based on demand, optimizing costs and ensuring access to the latest features and security updates. Security enhancements in cloud infrastructure are mitigating concerns around data privacy and protection, making cloud adoption more attractive. Cloud providers are continuously improving their security measures, including encryption, identity management, and compliance certifications, ensuring that data is protected against breaches and unauthorized access. Lastly, regulatory compliance requirements are pushing organizations to adopt cloud solutions that offer built-in compliance features, ensuring they meet industry standards and legal obligations. Regulatory frameworks such as GDPR, HIPAA, and others mandate stringent data protection practices, and cloud services with integrated compliance capabilities help organizations adhere to these regulations. These factors collectively contribute to the robust growth trajectory of the cloud computing services market, as businesses seek to capitalize on the operational efficiencies, cost savings, and innovation potential offered by cloud technologies.

SCOPE OF STUDY:

The report analyzes the Cloud Computing Services market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Service Model (Software as a Service (SaaS), Infrastructure as a Service (IaaS), Platform as a Service (PaaS)); Deployment (Public Cloud, Hybrid Cloud, Private Cloud); End-Use (BFSI, IT & Telecom, Retail & Consumer Goods, Media & Entertainment, Manufacturing, Energy & Utilities, Other End-Uses)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Select Competitors (Total 203 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.

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.

We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.

As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.

To our valued clients, we say, we have your back. We will present a simplified market reassessment by incorporating these changes!

APRIL 2025: NEGOTIATION PHASE

Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.

JULY 2025 FINAL TARIFF RESET

Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.

Reciprocal and Bilateral Trade & Tariff Impact Analyses:

USA
CHINA
MEXICO
CANADA
EU
JAPAN
INDIA
176 OTHER COUNTRIES.

Leading Economists - Our knowledge base tracks 14,949 economists including a select group of most influential Chief Economists of nations, think tanks, trade and industry bodies, big enterprises, and domain experts who are sharing views on the fallout of this unprecedented paradigm shift in the global econometric landscape. Most of our 16,491+ reports have incorporated this two-stage release schedule based on milestones.

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