Market Insights report
Cloud computing is one of the hot topics when talking about IT development and groundbreaking industry changes of the last decade. This report gives insights into the Public Cloud market and contains a wide range of statistics: The overall market development, a forecast until 2029, market shares, and more are included for the global Public Cloud market.The Statista Public Cloud market comprises 6 distinct markets: Software as a Service, Infrastructure as a Service, Platform as a Service, Business Process as a Service, Desktop as a Service, and Disaster Recovery as a Service. Overall, Public Cloud services have generated approximately US$631.84 billion worldwide in 2023 and will continue to grow at a high rate with a CAGR of 18.49% until 2029. The Software as a Service market accounts for the biggest share, comprising 44.34% of worldwide revenues.
What's included?
Cloud computing affects all kinds of business processes and can tackle dynamic and complex needs. Public cloud allows for scalability and resource sharing that would not otherwise be possible for a single organization to achieve. With this report, we provide a comprehensive overview of the state of the Public Cloud market as it is today as well as a forecast until 2029 with detailed information five distinct markets: Software as a Service, Infrastructure as a Service, Platform as a Service, Business Process as a Service, and Desktop as a Service
Software as a Service (SaaS) is the largest market of the Public Cloud market, comprising mostly half of the total market size. The market concentration in the SaaS market is quite low, as many very different products are offered by several companies.
Infrastructure as a Service (IaaS) is the second largest market of the market and makes it easy to scale up or down physical servers and data center infrastructure. This market is expected to continue growing at a high rate during the upcoming years. The growth impetus will be given by the increasing demand for new technologies regarding the Internet of Things and artificial intelligence, which require the adoption of a cloud infrastructure.
Platform as a Service (PaaS) builds on the concept of Infrastructure as a Service, offering supplementary services to the customer. These include an additional development environment, which allows for high-level programming. In the combined IaaS and PaaS markets, Amazon Web Services and Microsoft cover more than half of global revenues, resulting in a high market concentration.
Business Process as a Service refers to the type of public cloud service that provides a comprehensive suite of cloud-based solutions designed to streamline and optimize various business processes. BPaaS providers offer a range of services, such as finance and accounting, human resources, customer service, and supply chain management, all delivered through the cloud.
Desktop as a Service is the smallest market of the global Public Cloud market but is expected to grow the most in the upcoming years. It is a cloud solution that virtualizes the desktop experience, thus providing convenience, mobility, and ease of management while freeing the users from the constraints of traditional hardware-based computing. A typical example of this type of service is VMware Horizon Cloud.
Disaster Recovery as a Service (DRaaS) is a cloud-based solution that ensures business continuity by providing rapid recovery of critical systems and data during disruptions such as cyberattacks or natural disasters. With features like automated failover and real-time replication, DRaaS offers scalability and cost efficiency, making it an essential tool for minimizing downtime. Key providers like Microsoft Azure and AWS lead this growing market as organizations increasingly prioritize resilience against evolving threats.
Market Insight
The Public Cloud Market
Overview
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