The global public cloud services market was valued at US$ 242.53 Bn in 2020 and is expected to register strong growth, expanding at a CAGR of 16.5% during the forecast period from 2023 to 2030.

"North America to remain largest Public Cloud Service market by 2030"

North America represented the largest public cloud services market worldwide in 2020, accounting for over 42% of the total market value. The U.S. was the largest public cloud services market in North America and worldwide. The strong market position of the region is primarily due to the presence of a large number of established vendors and relatively higher penetration of cloud technology among business organizations across different industry verticals. The multitude of R&D and resulting investments dedicated towards the field of cloud computing has ensured relatively greater adoption of cloud solutions & services in the region. On the other hand, Asia Pacific is foreseen to become the most attractive and profitable business destination for public cloud service vendors during the latter half of the forecast period 2023 - 2030. At present, the penetration of cloud technology is relatively low in the region. The regulatory landscape, dynamic market maturity levels, and privacy & security concerns have resulted in inconsistent adoption of cloud technologies in the region. However, with the evolving IT landscape, it is projected that adoption of public cloud technologies will improve and change how service providers offer applications to their end-customers in the region.

"Cloud Application Services (SaaS) to Dominate Throughout the Forecast Period"

In the base year 2020, the value contribution from cloud application services (SaaS) was largest in the global public cloud services market. The segment garnered around 45% of the global public cloud service revenue in the same year. The growth in this segment is majorly on the back of increased sales of applications including customer relationship management (CRM), enterprise resource management (ERM), and content workflow management among others. On the other hand, value contribution from cloud system infrastructure services (IaaS) is expected to register fastest growth. The on-going paradigm shift in the way businesses worldwide choose and manage their IT infrastructure, have necessitated them to install applications across multiple infrastructures, thereby augmenting demand for IaaS offerings.

Key Players:

Some of the leading manufacturers profiled in the research study include Amazon Web Services, Salesforce.com, Microsoft Corporation, Google LLC, Oracle Corporation, SAP SE, The Hewlett-Packard Company, IBM Corporation, VMware, Inc., Cisco Systems Inc., and Rackspace, 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 Public 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 Public 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 Public 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 Public Cloud Services market?
• Which is the largest regional market for Public 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 Public Cloud Services market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Public Cloud Services market worldwide?