Public Cloud Market Global Analysis m

Public Cloud Market: Global Analysis, Opportunities And Forecast To 2032

As per a recent research report, Public Cloud Market to surpass USD 30 Bn by 2032.

Public Cloud Market is expected to register strong growth during 2032 owing to the budding deployment of IaaS and PaaS in SMEs. IaaS and PaaS deployment offers several benefits, such as saving time and resources, avoiding high investment, and offering third-party expertise.

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Moreover, the demand for IaaS is increasing as it assists companies in easily renting a
computerized infrastructure from a remote location, thereby supporting their
technological needs without massive investment. Besides, scalability,
simplified disaster recovery, cost savings, staying up-to-date, and resource
optimization are key benefits slated to increase the demand for the public
cloud industry in the coming years.

Public clouds
are gaining strong traction recently, offering over 99% uptime and no risk of
failure. As the overall cloud system connects several servers, during the
failures the other server takes over the workload, ensuring smooth and constant
performance for business-critical applications.

Overall, the
public cloud industry is segmented in terms of deployment model, organization
size, application, and region.

Based on the
deployment model, the PaaS segment is slated to depict 15% CAGR between
2023-2032. Increasing deployment of PaaS empowers users to develop, run, and
manage apps without building and maintaining the operations. Besides,
advantages such as easy provisioning and resource management, quick deployment
of various platforms, cost savings, fewer difficult setup and configuration
steps, and less knowledge requirement will spur its adoption in the future.

By organization
size, the large enterprise segment is expected to grow considerably through
2032. Increasing shift of large enterprises to public cloud application models
as these enterprises have less-sensitive data that requires large storage
space, will help the segment to grow in the future. Companies prefer public
cloud for less-sensitive data, which is cost-effective and helps integrate
innovative measures into business models.

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Considering the
application, the BFSI industry held over 20% market share in 2022. The BFSI
industry opts for public cloud as it strengthens business operations and
increases customer relationships. In addition, the public cloud offers banking
efficiency, improves customer data management, and provides more security with
fraud detection features than traditional data management systems.

Regionally, the
Asia Pacific public cloud market is anticipated to exhibit over 15% CAGR
through 2032. The presence of leading market players that are seeking
collaborative efforts to enhance their cloud storage services will positively
influence the regional outlook in the coming years.

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