Global Cloud Computing Platform Market Key Players, Growth,

cloud computing platform market

The global cloud computing platform market size is expected to grow from USD 545.8 billion in 2022 to USD 1,240.9 billion by 2027 at a compound annual growth rate (CAGR) of 17.9% during the period forecast. Cloud computing is an on-demand delivery of a virtual environment that includes a pool of resources, such as computing, storage, applications, database, and network, through pay-as-you-go pricing service models. usage, which allow enterprises to host their workloads.

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According to the service model, IaaS is expected to grow at the highest CAGR during the forecast period
Based on the service model, infrastructure as a service (IaaS) is estimated to hold the highest compound annual growth rate (CAGR) of 22.5% in the cloud computing platform market. Cloud computing service models are further categorized into IaaS, PaaS, and SaaS. IaaS, or Infrastructure as a Service, is a type of cloud computing that delivers basic compute, networking, and storage capabilities to customers on demand, over the Internet, and on a pay-as-you-go basis. It describes a set of services, including hosting, provisioning, hardware, and fundamental services required to run a cloud. With this, a company can use this service to outsource servers, storage, hardware, servers and network components, and other equipment needed to support operations. Additionally, PaaS, or Platform as a Service, is a comprehensive environment for cloud development and deployment that has the tools to deliver everything from basic cloud-based applications to complex enterprise systems. It consists of application infrastructure services (middleware), such as application platforms, developer tools, integration, business process management, Business Analytics/BI and management services. data base. SaaS refers to a cloud-based method of delivering software to users. Users subscribe to an app rather than buying it once and installing it. Users can log in and use a SaaS application from any compatible device on the Internet. The actual application runs on cloud servers instead of each user installing the software on their device. For large organizations, updating software was a time-consuming process.

According to Platform as a Service, Analytics and Reporting segments are expected to grow at the highest CAGR during the forecast period
According to PaaS, analytics and reporting is expected to grow at the highest CAGR of 23.4% during the forecast period, while data management segment is expected to hold a larger market share based on the platform as a service. Analytics and reports are data management solutions implemented in organizations to collect historical and current data while using statistics and software to analyze raw information and provide insights to make better future decisions.
BI is the process of collecting, storing and analyzing business operations data. It provides comprehensive near real-time business metrics to support better decision making.

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According to Software as a Service, the supply chain management segment is expected to grow at the highest CAGR during the forecast period
According to SaaS, supply chain management is estimated to hold the highest compound annual growth rate (CAGR) of 17.6% in the cloud computing platform market. Applications, such as logistics, inventory, and production planning, are covered under the SCM segment. Improving supply chain operations for different capital-intensive industries requires explicit thinking, as the multidisciplinary nature of different sectors makes SCM practices more complex. Cloud-based SCM applications help reduce all these challenges and improve business processes associated with managing supply chain activities.

Distribution of primaries:
In-depth interviews were conducted with CEOs, chief innovation and technology officers, system integrators, and executives from various key organizations operating in the cloud computing platform market.
• By company: Level I: 32%, Level II: 49% and Level III: 19%
• By designation: C-level executives: 33%, D-level executives: 22% and managers: 45%
• By region: APAC: 35%, Europe: 20%, North America: 40%, Rest of the world: 5%

The report includes the study of key players offering cloud computing platform. It presents the major vendors of the Cloud Computing Platforms market. Some of the major vendors in the cloud computing platform market are AWS (US), Microsoft (US), IBM (US), Google (US), Alibaba Cloud (China), SAP ( Germany), Salesforce (US), Oracle (US), Adobe (US), Workday (US), Fujitsu (Japan), VMWare (US), Rackspace (US), DXC (US), Tencent (China), NEC (Japan), DigitalOcean (US), Joyent (US), Virtustream (US), Skytap (US), OVH (France), Bluelock (US), Navisite (US), CenturyLink (US), Infor (US), Sage (UK), Intuit (US), OpenText (Canada), Cisco (US) United States), Box (United States), Zoho (United States), Citrix (United States), Epicor (United States), Upland Software (United States), ServiceNow (United States) and IFS (Sweden ).

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Research Coverage:
The market study covers the cloud computing platform market across all segments. It aims to estimate the market size and the growth potential of this market across different segments, such as components, deployment type, marketing function, organization size, vertical, and region. It includes an in-depth competitive analysis of major market players along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

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Sherry J. Basler