Definition:
A public cloud is defined as the digital infrastructure and computing resources that are managed by a service provider. Examples of public cloud computing resources include virtual machines, storage, and services, all of which are available for purchase with flexible (e.g., pay as you go and subscription) business models. Such payment options make it possible for customers to access, scale, and utilize resources as needed. Public cloud solutions make it possible for users to save on IT costs, increase their efficiency, and take advantage of advanced technologies without having to invest in long-term IT solutions. Public cloud service providers own and maintain the physical infrastructure, hardware, and software. Users only need to pay for the computing resources that they require. The Public Cloud market refers to the companies that provide these cloud computing resources and services to individuals, businesses, and organizations.
Structure:
The Public Cloud market is structured into five markets based on the type of service models provided by the companies.
Additional Information:
The public cloud market comprises revenue, revenue change, average spend per employee, and key player market shares as key performance indicators. Only revenues that are generated by primary vendors at the manufacturer price level either directly or through distribution channels (excluding value-added tax) are included, and revenues generated by resellers are excluded. Revenues are generated through both online and offline sales channels and include spending by consumers (B2C), enterprises (B2B) as well as governments (B2G). Detailed definitions of each market can be found on the respective page where the market data is displayed.
Key players of the public cloud market include companies such as Amazon (Amazon web services), Microsoft (Azure), Google (Cloud), and IBM (Cloud).
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Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Sep 2024
Source: Statista Market Insights
Notes: The chart “Comparable Estimates” shows the forecasted development of the selected market from different sources. Please see the additional information for methodology and publication date.
Most recent update: Jul 2024
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Mar 2024
Sources: Statista Market Insights, Financial Statements of Key Players
The Public Cloud Market in Eastern Asia has been seeing steady growth, driven by factors such as increasing adoption of digital technologies, rising awareness of the benefits of online services, and the convenience offered by cloud-based solutions. The average growth rate can be attributed to factors such as government initiatives promoting digitalization and the growing demand for cost-effective and scalable cloud services in the region. These factors are expected to continue driving the market's growth in the foreseeable future.
Customer preferences: As the use of digital technology continues to grow in Eastern Asia, consumers are increasingly relying on public cloud services for their personal and professional needs. This shift is driven by a desire for convenient and secure access to data and applications. Additionally, the rising popularity of remote work and virtual collaboration has led to a surge in demand for cloud-based productivity tools, further fueling the growth of the public cloud market.
Trends in the market: In Eastern Asia, the Public Cloud Market is experiencing a surge in demand for cloud-based services, particularly in China and Japan. This trend is driven by the increasing adoption of digital transformation strategies by businesses, as well as the rise of the gig economy and remote work culture. As more organizations shift towards cloud computing, there is also a growing trend of multi-cloud and hybrid cloud solutions for better flexibility and cost-effectiveness. This presents significant opportunities for cloud service providers, but also poses challenges in terms of data security and regulatory compliance. Industry stakeholders must stay abreast of these trends to capitalize on the market growth and mitigate potential risks.
Local special circumstances: In Eastern Asia, the Public Cloud Market is heavily influenced by the region's rapid economic growth and advancements in technology. With a large population and a strong focus on innovation, countries like China, Japan, and South Korea have become major players in the global market. In China, the market is driven by the government's support for cloud computing and the country's expanding e-commerce industry. In Japan, the market is characterized by a high demand for data storage and security, while in South Korea, the market is fueled by the widespread adoption of digital services and the government's initiatives to promote a digital economy. These unique factors shape the Public Cloud Market in Eastern Asia and contribute to its continuous growth and development.
Underlying macroeconomic factors: The growth of the Public Cloud Market is heavily influenced by macroeconomic factors such as technological advancements, government support, and investment in digital infrastructure. Countries with progressive policies and substantial investments in digital technologies are experiencing higher market growth compared to regions with regulatory barriers and limited funding for technology. Additionally, the increasing adoption of cloud-based solutions in various industries and the rising demand for cost-effective and scalable IT solutions are driving the growth of the Public Cloud Market in Eastern Asia.
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Sep 2024
Sources: Statista Market Insights, Financial Statements of Key Players, National statistical offices
Data coverage:
The data encompasses B2B, B2G, and B2C enterprises. Figures are based on the money spent at manufacturer price level (excluding VAT).Modeling approach / Market size:
Market sizes are determined through a top-down approach with a bottom-up validation, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and reports from our primary research. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP and level of telecommunications infrastructure. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. The main drivers are the GDP and the level of digitization.Additional notes:
The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.Notes: Based on data from IMF, World Bank, UN and Eurostat
Most recent update: Sep 2024
Source: Statista Market Insights