Cloud Computing Market and Trend

Cloud computing is a model that centralizes computer data and files for remote processing in large-scale data centers by storing them on multiple servers that can be accessed via the Internet.

There are four main types of cloud computing services.

1. Infrastructure as a Service (IaaS) is a service that provides customers with on-demand configuration and use of infrastructure resources such as compute, storage and network.
2. Platform-as-a-Service (PaaS) is mainly a platform for customers to develop, run and manage the applications they create or acquire.
3. Data as a Service (DaaS) is mainly to establish an IT environment for data collection, governance, and analysis, and to provide programming interfaces for analysis structures and algorithms.
4. Software as a Service (SaaS) is mainly to provide customers with on-demand applications.

The global cloud computing market size was USD 122.6 billion in 2017, growing to USD 263.5 billion in 2022, with a CAGR of 16.5% from 2017 to 2022. The global cloud computing market is expected to reach USD 785.0 billion in 2027, with a CAGR of 24.4% from 2022 to 2027.

 

Figure 2017-2027 Global Cloud Computing Market Size (Billion USD) and CAGR