Public Cloud Market Size
As of my knowledge cutoff date of September 2021, the global public cloud computing market was valued at approximately $332.2 billion USD. The market is expected to continue to grow at a rapid pace in the coming years, with a projected CAGR of 17.5% from 2021 to 2028, according to a report by Grand View Research.
The growth of the public cloud computing market is being driven by a number of factors, including the increasing adoption of cloud-based services by businesses of all sizes, the rise of big data and analytics, and the growing need for scalable and cost-effective computing solutions.
Some of the major players in the public cloud computing market include Amazon Web Services (AWS), Microsoft Azure, Google Cloud Platform, IBM Cloud, Oracle Cloud, and Alibaba Cloud, among others. These companies are investing heavily in developing new services and expanding their infrastructure in order to capture a larger share of the rapidly growing market.
Public Cloud Market Share
As of my knowledge cutoff date of September 2021, the public cloud computing market was dominated by a few major players, with Amazon Web Services (AWS) being the clear leader. According to a report by Synergy Research Group, AWS held a market share of 32% in Q2 2021, followed by Microsoft Azure with 20%, and Google Cloud Platform with 9%.
Other players in the market, such as IBM Cloud, Oracle Cloud, and Alibaba Cloud, held smaller market shares. However, all of these companies are continuing to invest heavily in expanding their cloud offerings and improving their infrastructure, so the market share landscape is subject to change in the coming years.
It’s worth noting that the public cloud computing market is highly competitive, and new players are constantly entering the market with innovative solutions. Additionally, many businesses are adopting a multi-cloud strategy, using multiple cloud providers for different workloads and applications, which can also impact market share figures.
Public Cloud Market Growth
The public cloud computing market has been experiencing strong growth in recent years, and this trend is expected to continue in the coming years. According to a report by MarketsandMarkets, the global public cloud computing market is projected to grow from $257.5 billion USD in 2020 to $623.3 billion USD by 2025, at a compound annual growth rate (CAGR) of 19.4% during the forecast period.
Several factors are driving the growth of the public cloud computing market, including the increasing adoption of cloud-based services by businesses of all sizes, the need for scalable and cost-effective computing solutions, and the rise of big data and analytics.
The COVID-19 pandemic has also accelerated the shift to cloud-based services, as businesses have had to rapidly adapt to remote work and digital transformation. This has led to increased demand for cloud infrastructure, collaboration tools, and security solutions.
The market is also being driven by innovations in cloud computing, such as serverless computing, artificial intelligence (AI), machine learning (ML), and the Internet of Things (IoT), which are enabling new use cases and business models.
Overall, the public cloud computing market is expected to continue to grow rapidly in the coming years, as more businesses adopt cloud-based solutions and as cloud providers continue to invest in expanding their infrastructure and services.
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