Pune, India, July 11, 2022 (GLOBE NEWSWIRE) — The global cloud computing market size stood at USD 405.65 billion in 2021. The market is anticipated to surge from USD 480.04 billion in 2022 to USD 1,712.44 billion by 2029 at 19.9% CAGR during the forecast period. Fortune Business Insights™ has deep-dived these inputs in its latest research report, titled, “Cloud Computing Market, 2022-2029.”
According to the analysis, an exponential rise in internet penetration, digital transformation, and adoption of a mobile devices will foster the industry growth. Industry players could invest in the next-gen industrial solutions to propel real-time analytics, edge computing, IoT, and 5G. Amidst data security concerns, industry players could inject funds into data centers to make them more secure.
Key Industry Development
- July 2021 – Google Cloud inked a deal with SAP SE to boost business systems by helping migrate and transform to the cloud.
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Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2022 to 2029 |
| Forecast Period 2022 to 2029 CAGR | 19.9% |
| 2029 Value Projection | USD 1,712.44 billion |
| Base Year | 2021 |
| Cloud Computing Market Size in 2021 | USD 405.65 billion |
| Historical Data for | 2018 to 2020 |
| No. of Pages | 140 |
| Segments covered | Type, Service, Industry and Geography |