The global cloud computing market is predicted to develop at a considerable CAGR of 15.6% over the forecast period, owing to the multiple benefits that cloud computing provides to enterprises.
Cloud computing improves collaboration between departments such as IT, finance, and sales by allowing for faster information exchange, more flexible task modifications, quicker software updates, and improved customer service.
With increased worries about data security, cloud computing outperforms local servers by deploying security professionals and protections such as multi-factor authentication to protect data.
Key market participants are accelerating growth through strategic alliances and collaborations. For example, OpenText has partnered with Google Cloud, as has Thales, to provide France with a sovereign hyper-scale cloud.
The cloud computing industry is divided into deployment models (private, public, and hybrid), component types (hardware, software, and services), and verticals (military & defense, telecom & IT, healthcare, retail, and others).
The market study covers North America, Europe, Asia-Pacific, and the Rest of the World, with in-depth analysis of important countries such as the United States, Canada, Germany, the United Kingdom, China, Japan, and India.