The Public Cloud Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).


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According to The Business Research Company’s Public Cloud Global Market Report 2024, The public cloud market size has grown rapidly in recent years. It will grow from $588.53 billion in 2023 to $702.82 billion in 2024 at a compound annual growth rate (CAGR) of 19.4%. The growth in the historic period can be attributed to increased computing power, growth in entertainment industry, product design and prototyping, automotive design and testing, training and education, cost savings..

The public cloud market size is expected to see rapid growth in the next few years. It will grow to $1434.35 billion in 2028 at a compound annual growth rate (CAGR) of 19.5%. The growth in the forecast period can be attributed to evolving gaming and entertainment needs, autonomous vehicles development, healthcare simulation advances, environmental simulation, scientific research.. Major trends in the forecast period include industry 4.0 and digital twins, cloud-based rendering services, cross-industry collaboration, integration of ai and machine learning, realism and high-fidelity graphics..

The rising use of 5G technology is expected to propel the growth of the public cloud market going forward. 5G is the fifth generation of mobile networks that enables a new type of network that is meant to link almost everyone and everything, including machines, objects, and devices. 5G revolutionizes business with faster speeds, lower latency, and expanded capacity, powering advanced applications like AR/VR, edge computing, and IoT, while enhancing reliable access to cloud services and virtual computers through mobile devices. For instance, in April 2023, according to 5G Americas, a US-based industry trade organization composed of leading telecommunications service providers and manufacturers, in 2022, there were 1.05 billion 5G wireless connections worldwide, a 76% increase from the end of 2021. Further, it is expected to reach 1.9 billion by the end of 2023 and 5.9 billion by the end of 2027. Therefore, the rising use of 5G is driving the growth of the public cloud market.

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The public cloud market covered in this report is segmented –

1) By Component: Hardware, Software
2) By Service: Business Process Services (BPaaS), Application Infrastructure Services (PaaS), Application Services, Management And Security Services, Systems Infrastructure Services (IaaS), Advertising
3) By Organization Size: Small And Medium Enterprises, Large Enterprises
4) By End-User: Discrete Manufacturing, Professional Services, Banking, Process Manufacturing, Retail, Other End-Users

Technological advancements are a key trend gaining popularity in public cloud market. Major companies involved in the public cloud market are focused on innovating new products to sustain their position in the market. For instance, in April 2021, RiverMeadow Software Inc., US-based provider of Cloud Migration and Disaster Recovery Software and Services, announced the addition of new capability to its market-leading Cloud Migration Platform to allow customers the option to carry out VM-based or OS-based migrations to any cloud. This makes RiverMeadow the only Multi-Cloud Migration Platform in the market to offer customers the choice of how they migrate to Public Clouds, including Microsoft Azure, Google Cloud Platform (GCP) or Amazon Web Services (AWS). It facilitates migration from public cloud to private or on-premises cloud, as well as migration between any public cloud.

The public cloud market report table of contents includes:

1. Executive Summary
2. Public Cloud Market Characteristics
3. Public Cloud Market Trends And Strategies
4. Public Cloud Market - Macro Economic Scenario
5. Global Public Cloud Market Size and Growth
.............
31. Global Public Cloud Market Competitive Benchmarking
32. Global Public Cloud Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Public Cloud Market
34. Public Cloud Market Future Outlook and Potential Analysis
35. Appendix
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