Public Cloud - G7

  • G7
  • Revenue in the Public Cloud market is projected to reach US$523.30bn in 2024.
  • Software as a Service dominates the market with a projected market volume of US$250.10bn in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 18.11%, resulting in a market volume of US$1,203.00bn by 2029.
  • In global comparison, most revenue will be generated in the United States (US$388.50bn in 2024).

Key regions: United States, Germany, China, Japan, United Kingdom

 
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Analyst Opinion

The Public Cloud market in G7 is experiencing steady growth driven by factors such as increasing demand for digital solutions, rising awareness of cloud services, and the convenience offered by online platforms. The market's average growth rate can be attributed to the growing adoption of Infrastructure, Platform, Software, Business Process, Desktop, and Disaster Recovery as a Service. Regulatory changes and advancements in technology also impact the market's growth rate.

Customer preferences:
As the use of public cloud services continues to grow in the G7 countries, consumer preferences are shifting towards more advanced and personalized digital solutions. This trend is driven by the increasing demand for seamless and convenient access to data and applications. With the rise of remote work and virtual communication, there is a growing need for cloud-based collaboration tools and video conferencing platforms. Additionally, the shift towards a more digital lifestyle has led to a greater reliance on online shopping and e-commerce, creating a need for secure and reliable cloud-based payment processing and storage solutions. This trend is expected to continue as consumers become more accustomed to the convenience and flexibility that public cloud services offer.

Trends in the market:
In the G7 countries, the Public Cloud Market is experiencing a surge in demand for hybrid cloud solutions, as businesses seek to combine the scalability of public cloud with the security of private cloud. This trend is expected to continue as more companies prioritize agility and cost-effectiveness in their IT infrastructure. Additionally, there is a growing emphasis on multi-cloud strategies, as organizations look to leverage the strengths of multiple cloud providers. This trend is significant as it offers businesses greater flexibility and resilience, but it also presents challenges in terms of data management and integration. For industry stakeholders, there is a need to adapt to these trends by offering comprehensive hybrid and multi-cloud solutions, as well as developing strategies to address the complexities of managing multiple cloud environments. Failure to do so may result in falling behind in the highly competitive public cloud market.

Local special circumstances:
In Japan, the Public Cloud Market is experiencing rapid growth driven by the country's advanced technology infrastructure and high demand for digital transformation in various industries. Additionally, Japan's strict data privacy laws and regulations have created a favorable environment for cloud providers to ensure security and compliance. Furthermore, the country's aging population has led to a surge in demand for healthcare solutions, driving the adoption of cloud-based electronic health records and telemedicine services.

Underlying macroeconomic factors:
The Public Cloud Market is significantly impacted by macroeconomic factors such as technological advancements, government policies, and overall economic health. Countries with supportive regulatory environments and investments in digital infrastructure are experiencing a surge in demand for public cloud services. The global economic trends of digital transformation and the increasing adoption of remote work are also driving the growth of the public cloud market. Furthermore, the rise in data generation and the need for data storage and analysis is fueling the demand for public cloud solutions. This market is expected to continue its growth trajectory, with the increasing reliance on technology in various industries and the proliferation of IoT devices.

Methodology

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.

Overview

  • Revenue
  • Key Players
  • Analyst Opinion
  • Global Comparison
  • Methodology
  • Key Market Indicators
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