According to the report, the global cloud computing market will reach $1,554.94 billion by 2030, with a growth rate of 15.7%.
Thanks to easy deployment, cost savings, data security, flexibility, and scalability, about 70% of companies have already migrated to cloud computing. Cloud solutions help teams to collaborate effectively without the need to visit the office. This scenario is expected to drive market growth. More and more companies across various verticals are adopting remote work, which is increasing the demand for SaaS.
The cloud helps analyze business activities and ensure that the company's operations meet customer requirements. Many businesses are investing in big data, AI, and other technologies.
Infrastructure-as-a-Service is expected to be the most in demand. Implementation of IaaS simplifies infrastructure management and reduces costs associated with staff and data center deployment.
SMBs will be the fastest growing segment due to opportunities for lower IT hardware and software costs and greater mobility in accessing data and services. Increasing adoption of cloud technology among SMBs is likely to drive market growth.
A hybrid deployment is expected to be the fastest-growing segment. Edge computing has emerged as one of the most important factors driving demand for the adoption of hybrid cloud models in organizations around the world.
Cloud computing is expected to register the highest growth rates in the manufacturing end-use segment. The cloud helps manufacturers leverage various types of manufacturing systems, from high-performance computing (HPC) and 3D printing to IoT and industrial robots.The Asia Pacific will be the fastest-growing region in the market. The growth of the IT services industry in India, China, and other South Asia regions, will also contribute to the growth of the regional market during the forecast period.