Cloud Services Global Market Report 2021: COVID-19 Impact And Recovery To 2030
The Business Research Company’s Cloud Services Global Market Report 2021: COVID-19 Impact and Recovery to 2030
LONDON, GREATER LONDON, UK, July 29, 2021 /EINPresswire.com/ — Atos announced the acquisition of Nimbix, a US-based high-performance computing (HPC) cloud platform provider. This deal augments its HPC cloud enablement capabilities and also helps in strengthening the company’s multicloud bursting and hybrid capabilities. Nimbix has immense experience of executing thousands of cloud projects across more than 50 countries over the last ten years. Atos is a leader in the HPC space in the European region and this deal further enhances its place as a leader in HPC cloud enablement. This deal also helps in extending its presence in the US and strengthening its position in the global cloud services market. This move from Atos is interesting as the cloud services market is forecast to see a significant growth, according to the latest report by The Business Research Company.
As per data on the Global Market Model, the cloud services market size is expected to grow from $396. billion in 2020 to $467.4 billion in 2021 at a compound annual growth rate (CAGR) of 18%. The market is expected to reach $798.4 billion in 2025 at a CAGR of 14%. North America was the largest region in the global cloud services market, accounting for 61% of the market in 2020. Western Europe was the second largest region, accounting for 21% of the global market.
The demand for the high-performance computing cloud is growing significantly every year and 2021 is expected to be a turning point, where a large portion of the global HPC industry is expected to adopt cloud as a fundamental component of its HPC strategy. Under this scenario, it remains interesting to see how Atos will be able to leverage this opportunity, particularly after strengthening its HPC cloud enablement capability with the current acquisition.
A key point to note is that interest rates are expected to increase in developed nations in the next couple of years, particularly the USA and Europe, making it harder and more expensive for companies in capital-intensive industries such as cloud services to raise funds for investments in new technologies to deploy IoT and smart cities management. The cloud services market is characterized as requiring a substantial amount of capital funds to operate, renovate, innovate, and expand business. Therefore, changes in the economy such as an increase in interest rates are expected to greatly affect profit margins, cost structures, and expansion strategies of companies in the cloud services market. For instance, the USA Federal Reserve is expected to make two increases in interest rates by the end of 2023. This will in turn impact the operation and expansion of businesses in the cloud services market.
Public cloud platforms are seeing an increasing demand in the cloud services market. With technological advances in cloud computing and the continuous requirement of updating in-house IT infrastructure, the demand for public cloud platforms is growing significantly. A public cloud is a service based on the standard cloud computing model, in which a service provider makes resources, such as virtual machines (VMs), applications, or storage, available to the general public over the internet. Companies are increasingly opting for public cloud platforms to minimize their costs as public cloud provides services on a pay-as-you-go model, the need for organizations to invest in and maintain their own in-house IT resources, and enables scalability to meet workload and user demands.
Companies in the industry, particularly for platform as a service (PaaS), are increasingly selecting hybrid cloud solutions to increase efficiency, innovation, and reduce costs. Hybrid Cloud refers to a cloud infrastructure environment that is a mixture of private cloud, on-premises computing and public cloud solutions. Platform as a service providing companies in the industry are leveraging this technology to enhance their agility, capability, increase development & deployment speed, and reduce IT costs.
The Cloud Services Global Market Report is one of a series of new reports from The Business Research Company that provides cloud services market overviews, analyzes and forecasts cloud services market size, share, cloud services market players, cloud services market segments and geographies, the market’s leading competitors’ revenues, profiles and market shares.
About The Global Market Model
The Global Market Model is the world’s most comprehensive database of integrated market information available. The ten-year forecasts in the Global Market Model are updated in real time to reflect the latest market realities, which is a huge advantage over static, report-based platforms.
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https://www.thebusinessresearchcompany.com/report/platform-as-a-service-paas-global-market-report
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