/2020 Cloud Services Market Industry by Top Players Analysis Microsoft, Amazon, IBM & Google – Press Release (via Qpute.com)

2020 Cloud Services Market Industry by Top Players Analysis Microsoft, Amazon, IBM & Google – Press Release (via Qpute.com)

This press release was orginally distributed by SBWire

London, UK — (SBWIRE) — 01/27/2020 — The cloud services market consists of sales of cloud services by entities (organizations, sole traders and partnerships) that provide the delivery of information technology resources and applications on-demand through an Internet platform. Companies in the cloud services industry provide access to servers, storage, databases and a broad set of application services managed by a hardware networking. This market includes sales of storage servers which are used to store, access, secure and manage digital data, files and services.

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Major trends influencing the cloud services market include:
Growing Demand For Multi-Cloud – With growth and technological advances in the cloud industry, demand is growing for a multi-cloud model. In 2018, the multi-cloud adoption rate rose to 81% among enterprises, while the adoption rate of hybrid cloud declined from 58% in 2017 to 51% in 2018. Multi-cloud solutions provide enterprises with the flexibility to innovate at speed as the solutions are not tied to one provider. The use of multi-cloud solutions also helps minimize costs of data storage by providing an option of shifting operational data to the cheapest cloud service provider whenever there is a change in price.

Quantum Computing – Increasing amounts of data generated worldwide have led cloud service providers to work continuously on creating the first quantum computer with abilities such as seamless data encryption, solving complex medical problems, weather prediction, real conversations with AI and better financial modeling. In November 2017, IBM released a 5-qubit and a 20-qubit version, and it began offering quantum computing as a cloud service. JPMorgan Chase, Daimler Honda, Barclays and Samsung were the first companies that signed up for testing. Alibaba also collaborated with the Chinese Academy of Sciences to launch an 11-qubit quantum computing service that is now publicly available on the quantum computing cloud platform.

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The Cloud Services market is segmented by type, and by geography.
By Type – The cloud services market is segmented by type into
a) SaaS
b) BPaaS
c) IaaS
d) PaaS
Software as a service accounted for the largest share of the cloud services market in 2018 at 42.5%. The Infrastructure as a service market will be the fastest-growing segment going forward.

Countries: Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam

Regions: Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East , Africa

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North America is the largest market for cloud service providers, accounting for 50.1% of the global market. It was followed by Western Europe, Asia-Pacific and then the other regions. Going forward, South America and Asia-Pacific will be the fastest growing regions in this market, followed by the Middle East and Africa.

Major Competitors of global cloud services market are Microsoft Corporation, Amazo, IBM, Nippon Telegraph And Telephone Corp and Fujitsu

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