"Increasing Data Security Concerns and Convenient Service Models to Ensure Rapid Growth for Private Cloud Services Market"

The private cloud services market worldwide is expected to grow with a CAGR of 18.9% during the forecast period from 2021 to 2029, starting from US$ 50.60 Bn in 2020. Overall cloud services sector worldwide is witnessing tremendous growth since the past few years with growth rate of more than 20% every year. Of these, private cloud spending has been growing with growth rate of over 25% (year-on-year) since the past five years. Various organizations worldwide have increased their spending on private cloud due to higher security, convenient deployment model, total control and ownership of the setup. Nevertheless, higher cost and predominant existence of public cloud services are the major factors hampering the private cloud services market growth.

"SaaS to Continue Dominating the Market"

In 2020, the overall private cloud services market was led by the SaaS segment contributing to over 40% of the total revenue generated worldwide. The segment was followed by IaaS segment, with ‘Storage-as-a-Service’ gaining rapid traction across the globe. Further, based on deployment model, the market was led by hosted private cloud segment. In the following years, on-premise private cloud (a newer deployment of private cloud) is expected to register higher growth in the market. The growth is attributed to increasing demand by the enterprises towards enhanced control over the cloud infrastructure.

"Asia Pacific to Register the Fastest Growth"

Private cloud services market is led by North America. In 2020, the regional market accounted for nearly 45% of the total revenue generated worldwide. The market here primarily backed by the U.S. having the highest spending on cloud services across the globe. The U.S. is among the earliest adopters of cloud services and is home to numerous major cloud service providers. Subsequently, benefits of private cloud is duly understood by the enterprises here, leading to higher penetration. Europe follows North America with major regional markets including the U.K., Germany, Italy, France and Nordic countries. Asia Pacific is set to register the highest growth in the market during the forecast period. Rapidly growing data generation, data analytics, IoT and artificial intelligence in the region is the major factor supporting market growth.

Some of the prominent players operating in the private cloud services market include Amazon Web Services, Cisco Systems, Inc., Dell EMC, Google, LLC, HPE Company, IBM Corporation, Microsoft Corporation, Oracle Corporation, Rackspace, Inc., Red Hat, Inc., Salesforce.com, Inc. and VMware, Inc. among others.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Private Cloud Services market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Private Cloud Services market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Private Cloud Services market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Private Cloud Services market?
• Which is the largest regional market for Private Cloud Services market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Private Cloud Services market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Private Cloud Services market worldwide?