Cloud Computing Market (By Deployment: Private, Hybrid, Public; By Service: Software as a Service (SaaS), Infrastructure as a Service (IaaS), Platform as a Service (PaaS); By End User: IT and Telecom, BFSI, Manufacturing, Healthcare, Retail and Consumer Goods, Media and Entertainment, Energy and Utilities, Government and Public Sector, Others; By Organization Size; By Workload) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2022 – 2030


The global cloud computing market size was valued at US$ 380.25 billion in 2021 and is expected to hit US$ 1,614.10 billion by 2030 with a registered CAGR of 17.43% from 2022 to 2030.

Cloud Computing Market Size 2021 to 2030

Growth Factors

The rising popularity of the latest novel technologies like artificial intelligence and machine learning and its rapid adoption in the cloud computing is empowering the growth of the global cloud computing market. There has been a rapid increase in the technological advancements since the outbreak of the COVID-19 pandemic across the developed and the developing economies. The cloud computation is enabling the enterprises to sustain their business functions amid the rising adoption of work from home model. The cloud computing technology enables the enterprises to efficiently store, access, and manage critical data. With the rising adoption of the smartphones, laptops, and internet, the need for storing and processing huge volumes of data has significantly increased that enables the enterprises to offer customer-centric services to their customers and clients.

The rising focus on customer satisfaction, increasing need for controlling operational expenditure, and need for controlling capital expenditure are some of the most prominent factors that are significantly driving the growth of the global cloud computing market. Data security, fulfilling compliance requirement, and quick data recovery are major factors that boost the demand for the cloud computing services across the globe.

The rising demand for the various OTT platforms such as Amazon Prime, Netflix, Disney+Hotstar, and Apple TV along with the increased adoption of the online communication platforms like Microsoft Teams, Google Meet, Zoom, and Skype are the major factors that has contributed significantly towards the growth of the cloud computing market in the past few years. Rapid digitization has compelled the various organizations to digitize and modernize their infrastructural landscape boost cost efficiency and agility. Furthermore, the rising investments in the development of strong telecommunications and IT infrastructure is expected to further fuel the growth of the global cloud computing market during the forecast period.

Report Scope of the Cloud Computing Market

Report Coverage Details
Market Size by 2030 USD 1,614.10 Billion
Growth Rate from 2022 to 2030

CAGR of 17.43%

North America Market Share in 2021 40%
Software as a Service (SaaS) Segment Market Share in 2021 55%
Base Year 2021
Forecast Period 2022 to 2030
Segments Covered Deployment, Service, End User, Organization SizeWorkload, Geography
Companies Mentioned,  Adobe Inc., Alibaba Group Holding Limited, Amazon.com Inc., Google LLC, International Business, Machines Corporation, Microsoft Corporation, Oracle Corporation, Salesforce.com Inc., SAP SE, Workday, Inc.


Deployment Insights

Based on deployment, the private deployment segment garnered a market share of about 46% and led the global cloud computing market in 2021. The private deployment cloud computing services are available to a small users groups. The major features of private deployment segment includes Self-service, elasticity, and scalability that makes it more adaptable by the enterprises. The private clouds offers higher security and privacy for the third party service providers by using internal hosting and firewalls that ensures enhanced data protection.

Cloud Computing Market Share, By Deployment, 2021 (%)

The hybrid deployment is anticipated to be the most opportunistic segment during the forecast period. It is an integration of the public and private cloud models. The hybrid models is gaining traction among the industries to enhance their cost optimization, business model, application modernization, business operations, and user experience. The rapid emergence of the edge computing is expected to boost the demand for the hybrid clouds across the enterprises all over the globe in the upcoming future.

Service Insights

Software as a Service (SaaS) was the dominant segment in the global cloud computing market that accounted for a revenue share of around 55% in 2021. It is estimated that there is a rapid rise in the number of enterprises shifting towards cloud. More than 70% of the companies are shifting majority of their application to the Software as a Service (SaaS) platform. The increased adoption of remote working has resulted in a significant rise in the demand for the SaaS platform and this trend is expected to continue over the forecast period.

Cloud Computing Market Share, By Service, 2021 (%)

With the SaaS products experiencing a strong growth across the globe, its total cost of ownership (TCO) is expected to become equal to that of the on premise models. The surging number of businesses providing cloud based services and growing demand for SaaS delivery models is anticipated to boost the growth of the SaaS segment. SaaS offers great flexibility, options, and web based subscriptions that help is accessing program remotely. All these factors are boosting the growth of this segment and SaaS is also expected to be the fastest growing segment during the forecast period.

End User Insights

Depending on the end user, the BFSI segment garnered a revenue share of around 25% and dominated the global cloud computing market in 2021. A significant rise in the online banking activities is a major driver of the cloud computing market in the BFSI sector. Cloud computing helps the BFSI to control expenses, increase flexibility, boost innovation, and improve client connection. Furthermore, the rising adoption of cloud services for storing and administration of the consumer related data is attributable to the growth of the BFSI segment in the market. Online money transfer, unified customer experience, digital wallets, and payment gateways are expected to play a crucial role in the BFSI industry in the forthcoming future, which will have a significant impact on the growth of the cloud computing market.

The manufacturing is expected to be the most opportunistic segment during the forecast period. This industry is anticipated to be a prime user of the cloud services due to its benefits like real-time visibility and seamless management of data. The cloud service models helps the manufacturing sector by incorporating novel technologies like big data, machine learning, artificial intelligence, internet of things, and big data analytics. The rising adoption of the cloud services in the manufacturing sector for storing information, supply chain handling, and planning enterprise resources is expected to boost the growth of this segment during the forecast period.

Region Insights

North America was the leading cloud computing market that captured a market share of around 40% in 2021. US emphasizes the adoption of advanced technologies across the industries and prefers digital transformation. US is one of the early adopters of various novel technologies like AI, IoT, AR/VR, ML, connected industries, additive manufacturing, and big data analytics. Furthermore, the rapid adoption of the 4G and 5G technologies owing to the presence of strong and well-established IT and telecommunications infrastructure. Moreover, the presence of tech giants like Amazon, Microsoft, Apple, and Google have significant contributions in the growth of the North America cloud computing market.

Cloud Computing Market Share, By Region, 2021 (%)

Asia Pacific is expected to witness the highest CAGR during the forecast period. Rapidly rising emerging economies like China and India and the emergence of regional tech giants like Alibaba are contributing to the market growth. Furthermore, various government initiatives like Make in India has attracted huge investments in the manufacturing and IT industry, which is expected to boost the demand for the cloud computing services in the forthcoming years.

Key Market Developments

  • In January 2020, IBM Corporation introduced Advertising Accelerator with Watson, an Ai-based predictive solution. It helps the advertisers and marketers to understand the preferences of their audience and offers useful insights.

Some of the prominent players in the global cloud computing market include:

  • Adobe Inc.
  • Alibaba Group Holding Limited
  • Amazon.com Inc.
  • Google LLC
  • International Business Machines Corporation
  • Microsoft Corporation
  • Oracle Corporation
  • Salesforce.com Inc.
  • SAP SE
  • Workday, Inc.

Segments Covered in the Report

(Note*: We offer report based on sub segments as well. Kindly, let us know if you are interested)

By Deployment

  • Private
  • Hybrid
  • Public

By Service

  • Software as a Service (SaaS)
    • Customer Relationship Management (CRM)
    • Enterprise Resource Management (ERM)
    • Human Capital Management (HCM)
    • Content Management
    • Collaboration and Productive Suites
    • Supply Chain Management (SCM)
    • Others (Business Intelligence (BI) and Analytics, PPM and operations and manufacturing applications)
  • Infrastructure as a Service (IaaS)
    • Primary Storage
    • Disaster Recovery and Backup
    • Archiving
    • Compute
  • Platform as a Service (PaaS)
    • Application Development and Platforms
    • Application Testing and Quality
    • Analytics and Reporting
    • Integration and Orchestration
    • Data Management

By End User

  • IT and Telecom
  • BFSI
  • Manufacturing
  • Healthcare
  • Retail and Consumer Goods
  • Media and Entertainment
  • Energy and Utilities
  • Government and Public Sector
  • Others

By Organization Size

  • Small and Medium-sized Enterprises (SMEs)
  • Large Enterprises

By Workload

  • Storage, Backup, and Disaster Recovery
  • Application Development and Testing
  • Database Management
  • Business Analytics
  • Integration and Orchestration
  • Enterprise Resource Management
  • Collaboration and Content Management

By Geography

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Malaysia
    • Philippines
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East & Africa (MEA)
    • GCC
    • North Africa
    • South Africa
    • Rest of the Middle East & Africa

Frequently Asked Questions

What is the current size of cloud computing market?
The global cloud computing market size was reached at US$ 380.25 billion in 2021 and it is anticipated to rake around US$ 1,614.10 billion by 2030.
The global cloud computing market is expected to drive growth at a CAGR of 17.43% during the forecast period 2022 to 2030.
The major players operating in the cloud computing market are Adobe Inc., Alibaba Group Holding Limited, Amazon.com Inc., Google LLC, International Business, Machines Corporation, Microsoft Corporation, Oracle Corporation, Salesforce.com Inc., SAP SE, Workday, Inc.
The rising popularity of the latest novel technologies like artificial intelligence and machine learning and its rapid adoption in the cloud computing is empowering the growth of the global cloud computing market.
The North America region is estimated to lead the cloud computing market during the forecast period.

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