Global Cloud Computing Market was valued at $108.7 Billion in 2015 and is estimated to grow at a CAGR of over 18% from 2016 to 2024.
A surge in demand for reliable, high speed, secure and resilient broadband and mobile networks and infrastructure is anticipated to propel the cloud computing demand significantly over the next few years. Additionally, companies take advantage of differing deployment models with opportunities lying in both existing cloud architectures and emerging new architectures.
With rapid cloud adoption, M&A activity within the PaaS and SaaS cloud environment is likely to escalate with prominent systems vendors emphasizing on strategically partnering with organizations who can provide the right solutions to overcome the challenges of cloud computing.
North America Cloud Computing Market, By Deployment, 2014 – 2024 (USD Billion)
Financial implications of enterprise adoption of pay-as-you-go pricing is expected to be on the rise over the coming years as companies rapidly adopt new business models to overcome the risks associated with conventional enterprise business models. Open source will continue to gain significance, and the industry is anticipated to witness more commercialized services based on open source platforms emerging in the market. The emergence of Open Source (Open Stack) holds great promise to the cloud ecosystem.
Rise in adoption of BYOD policy with increasing number of devices blur the line between professional and personal use is another factor driving growth in the market. Further, gaining popularity, primarily among midsize enterprises, including manufacturing companies, irrespective of their expensive nature is expected to increase the demand for hybrid cloud.
Emergence of cloud service brokerages that help companies decide which cloud services are best for them and guide them through establishment may also fuel the cloud adoption considerably over the forecast period. Enhanced security offerings with Identity Access Management (IAM) solutions set to emerge as a key piece of Middleware within the cloud ecosystem is expected to be a major trend driving growth over the coming years.
“Optimal Price Point (OPP) for Cloud Computing Products”
Estimated Average solution cost – $ xx globally. However, with growth in machine data, growing solution implementation and increasing SMEs, OPP and range of acceptable Prices (RAP) are going to change. We at Ameri Research continuously track these prices with our proprietary pricing model.
“Advances in cloud computing to offer streamlined and efficient IT services”
As business intelligence analytics becomes a more vital aspect of running a successful organization, there may be an augmented need for streamlined and efficient IT services. Consolidation of data in the cloud allows for better visualization. This in turn, will make it easier for professionals to make enhancements to various IT systems, cut down costs and do it all in a concise manner.
“Major industry participants innovate consistently to drive the future of cloud computing”
Prominent industry players including IBM, VMware, Citrix, Amazon, and Microsoft recognizes to play a bigger role in the industry. These companies are actively innovating and offering more enterprise features in an attempt to compete with the emerging players as well as the existing heavyweights.
Noticeable industry player such as Amazon vigorously invest in R&D to develop pioneering solutions such as the IaaS. Meanwhile, emerging players such as Salesforce, Rackspace and Box are striving to tackle the aspects of renting the cloud for virtually nothing. This in turn will result in greater security and more flexibility for customers within the cloud framework.
Cloud computing is quickly replacing the conventional model of having software applications installed on on-premise architecture. Cloud computing enables businesses to access applications through the internet which is known as Software as a Service (SaaS). This helps businesses to cut costs on maintenance and up-gradation of software and hardware.
Another noticeable technology in the industry is Platform as a Service (PaaS) which is primarily used for its simplicity, scalability, and reliability. PaaS offers huge benefit for firms adopting a micro-services architecture, as PaaS allows for each microservice to be installed and managed faster.