The global professional cloud services market was valued at USD 15.36 billion in 2017, and is expected to reach a value of USD 41.59 billion by 2023, at a CAGR of 17.72 %, during the forecast period (2018 - 2023). The scope of the report is limited to deployment type offered by major players, which include, as on premise and cloud. While the regions considered in the scope of the report include, United States, Canada, United Kingdom, Germany, France, Russia, South Africa, China, India, Japan, Mexico, Saudi Arabia, and Brazil.
The firms (of all categories) offering cloud professional services have been advising their clients for years to focus on core competency and let certain tasks be handled by external specialists to get the best output. This is the major driving force promoting the growth of the cloud professional services market. Modern, multi-tenant cloud platform services allow thousands of customers to use similar resources. This resulted in saving a lot of manpower and the expenses involved in it. Cloud professional services adapt easily to the changing landscape and in meeting the new requirements. Cloud service providers made sure that the applications can be easily configured and build entirely new ones, in a very short time. All these factors help the client organization to focus on their core competency, which in turn, results in their overall growth. All the above factors have been major growth aspects for the cloud professional services market, on a global arena.
Growth in Adoption of Cloud Services has led to the Growth of Professional Cloud Services
According to NASDAQ, the revenues for cloud services grew by 60% in 2015. Furthermore, cloud computing is estimated to grow at a rapid rate over the next five years. The increased adoption of cloud based software has provided a number of benefits for companies from various industries, including the ability to use software from any device, either through a native app or through a browser. It is estimated that more than USD 70 billion revenue was generated from the SaaS segment in 2015. By 2016, an 11% shift of IT budget away from traditional on-premise IT delivery toward various versions of cloud computing as a new delivery model is expected. By 2020, more than 65% of enterprises are expected to have, at least, half of their infrastructure on cloud-based platforms
Hybrid Cloud is expected to have High Growth in the Market Owing to Various Advantages
Over many years, cloud has been the preference and focus of the IT decision makers and corporate, however, the extremely security-conscious companies have been hesitant to move their data and workloads into cloud. With technological innovations and advancements behind professional cloud services being available for deployment inside organizations, a new model of cloud is gaining a foothold in business, i.e., hybrid cloud.
Hybrid cloud is a combination of a public cloud provider, such as Google cloud, Amazon web services with a private cloud, i.e. designed to be used by a single organization. By allowing workloads to move between public and private clouds, as computing needs and costs change, hybrid cloud has led businesses to achieve greater flexibility, and more data deployment options. This deployment model helps businesses to take advantage of secured applications and data hosting on a private cloud, while, still enjoying the cost benefits by keeping shared data and applications on the public cloud. Hence, the cloud migrates workloads between public and private hosting, without creating any inconvenience to the users.
North America has the Highest Share of Cloud Services Owing to Various Investments
Latest technological breakthroughs have assisted the advancement of professional cloud services that can make the overall processes more efficient, and can significantly improve accuracy in various applications. There have been a series of collaborations, mergers, and acquisitions in North America to take the advantage of this opportunity. The major driver behind the investments has been the continuous evolution and application of new technologies to unlock enormous volumes that were previously considered non-commercial. With these series of investments, communications, retail, healthcare, and manufacturing applications in North America are set to boom during the next five years
North America accounts for the highest share of the global cloud professional services market. This is due to the early adoption of cloud-based networks, by the United States markets. The crunch in resources to create in-house facilities, and increasing incidence of BYOD are helping the North American market generate the highest revenue. Although the inclination of growth toward cloud computing has been increasing, owing to factors, such as low capital expenditures. However, benefits, such as improved agility and flexibility, as well as, being able to deploy new applications more quickly hold significance. Additionally, in the United States, the companies, where employees are more than 100 in number, are adopting cloud based applications, and nearly 35% of SMBs in the country have already deployed cloud solutions.
Key Developments in the Market
¥ March 2018 - Avaya has continued its growth in Australian market through the launch of unified communications and contact center in cloud form. This deployment of services is with the mid-level market and Avaya has been aiming at delivering more customized and flexible solutions
¥ February 2018 - TeraGo had announced its addition of managed services to the AWS cloud services. This has enabled the TeraGo consumers to leverage the cloud and also ensures in the seamless migration and management of company assets
¥ July 2017 - Google had started the deployment of cloud services in India. As a part of this service Google will be training the work force of major companies. Google had invested about USD 30 billion on its cloud platform
The major players include - CISCO, HP INC., COGNIZANT, ACCENTURE PLC, EMC, MICROSOFT CORPORATION, FUJITSU LIMITED, CAPGEMINI, INFOSYS LIMITED, NIPPON, HCL TECHNOLOGIES LIMITED, ORACLE, NTT DATA, ATOS, SAP SE, amongst others.
Reasons to Purchase this Report
¥ Growing adoption of cloud services acts as a driver to the global Professional Cloud Services market scenario
¥ Analyzing various perspectives of the market with the help of PorterÕs five forces analysis
¥ The End-user that is expected to dominate the market is analyzed in detail
¥ The regions that are expected to witness fastest growth during the forecast period are analyzed and estimated for growth
¥ Identify the latest developments, market shares, and strategies employed by the major market players
¥ 3-month analyst support, along with the Market Estimate sheet in excel
Customization of the Report
This report can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs
1.1 Key Study Deliverables
1.2 Market Definition
1.3 Study Assumptions
2. Research Methodology
3. Executive Summary
4. Market Insights
4.1 Market Overview
4.2 Indusrty Attractiveness- Porter'S Five Forces Analysis
4.2.1 Threat of New Entrants
4.2.2 Bargaining Power of Suppliers
4.2.3 Bargaining Power of Consumers
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
4.3 Industry Value Chain Analysis
4.4 Industry Policies
5. Market Dynamics
5.1 Market Drivers
5.1.1 Growth in Adoption of Cloud Services
5.1.2 Focus on Business Productivity
5.2 Market Restraints
5.2.1 Security Issues
6. Technology Snapshot
7. Global Professional Cloud Services Market Segmentation
7.1 By Type of Deployment
7.2 By Type of Service Model
7.2.1 Platform as a Service (PaaS)
7.2.2 Software as a Service (SaaS)
7.2.3 Infrastructure as a Service (IaaS)
7.3 By End-user
7.3.4 Entertainment and Media
7.3.6 Financial Services
7.4 By Geography
7.4.1 North America
7.4.3 Asia Pacific
7.4.4 Latin America
7.4.5 Middle East & Africa
8. Vendor Market Share
9. Key Vendor Profiles
9.2 HP Inc
9.4 Accenture PLC
9.6 Microsoft Corporation
9.7 Fujitsu Limited
9.9 Infosys Limited
9.11 HCL Technologies Limited
9.13 NTT DATA
9.15 SAP SE
*List not Exhaustive
10. Investment Analysis
10.1 Recent Mergers And Acquisitions
10.2 Investment Scenario And Opportunities
* List is not Exhaustive
11. Future of Professional Cloud Services Market
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.