Cloud Computing Market size in 2020 is estimated at $283 billion – IndustryARC
Cloud Computing Market size in 2020 is estimated at $283 billion, growing at a CAGR of 12.8% during the forecast period 2021-2026.
HYDERABAD, TELANGANA, INDIA, August 30, 2022 /EINPresswire.com/ — Cloud Computing Market size in 2020 is estimated at $283 billion, growing at a CAGR of 12.8% during the forecast period 2021-2026. Cloud computing is one of the most commonly used applications in healthcare, BFSI and IT sectors. Cloud edge computing makes electronic medical record-sharing easier and safer and increases the efficiency of the industry. The rising demand for cloud-based information systems and technological advancement are the major factors driving the growth of the market. Moreover, use of cloud computing provides better collaborative workforce, offering cloud storage and provides lowering of costs further enhancing the overall market demand for Cloud Computing during the forecast period.
Key takeaways:
This IndustryARC report on the Cloud Computing Market highlights the following areas:
1. In 2020, North America dominates the Cloud Computing market owing to continuous technological advancements in the Cloud Computing solution and supportive regulatory scenario.
2. Rising demand for cloud-based information systems and technological advancement is driving the market growth of Cloud Computing.
3. Detailed analysis of the Strength, Weakness, and opportunities of the prominent players operating in the market will be provided in the Cloud Computing market report.
4. Data security and integrity issues are challenging the growth of the market.
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Segmental Analysis:
1. This is mainly owing to increasing demand for maintaining data generated from doctors and physicians. Moreover, clinical information system is designed specifically for the critical care environment such as Intensive care unit (ICU) that are contributing the growth of this segment.
2. IoT is employed in these industries as it provides real time information, improves operational efficiency, optimization in production, and other benefits that impact the efficiency of the industry and further contributing as the driving factor for the cloud computing market.
3. North America dominated the Cloud Computing market share accounting for 40.4% of the market in 2020. This is mainly owing to continuous technological advancements in the Cloud Computing solution and supportive regulatory scenario. According to American Hospital Association, the healthcare system in the U.S. has increasing the demand of cloud computing services for delivery of better healthcare services.
Competitive landscape:
The top 5 players in the Cloud Computing industry are:
1. Microsoft
2. AWS
3. Salesforce
4. Oracle
5. SAP
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Related Reports:
A. North American Healthcare Cloud Computing Market
https://www.industryarc.com/Report/16775/north-american-healthcare-cloud-computing-market.html
B. Cloud High Performance Computing (Hpc) Market
https://www.industryarc.com/Research/Cloud-High-Performance-Computing-Market-Research-500662
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