Global Top 10 Cloud Technologies Market: Snapshot
The top 10 cloud technologies market is anticipated to rise at a cracking pace in the upcoming years. The growth of the market is driven by a number of favorable factors which include rising demand of organizations for scalable, agile, cost efficient computing, rising demand for digital services and their applications, and a significant number of standards for interoperability between cloud and existing systems.
Amongst the top 10 cloud technologies, multi-cloud management is anticipated to display the leading growth in the forthcoming years, powered by the growing need for various applications amongst end users. Further, significant adoption of hybrid cloud solutions among small and medium sizes enterprises is favoring the growth of multi-cloud management. Hybrid cloud is used across a host of industries that include BFSI, healthcare and lifesciences, and telecommunication and ITES.
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Cloud storage is anticipated to hold the second-leading market size amongst all in the cloud domain. Some of the key solutions provided by cloud storage vendors are primary storage, cloud storage gateway, disaster recovery and backup storage, and data archiving. In particular, hybrid cloud storage has boosted the growth of top 10 cloud technologies market in the recent years. The rising demand for enterprise mobility for improved efficiency is also playing a crucial role to boost the growth of cloud solutions.
However, disaster recovery as a service is expected to display the leading growth rate amongst all in the top 10 cloud technologies market. This is mainly because of a number of advantages related to data synchronization, online viewing, and easy accessibility.
Cloud technologies have become more and more predominant in the technology world over the last few years due to shift towards SaaS based solutions and continuous growth in the cloud data storage. Both small and medium enterprises (SMEs) and large enterprises are shifting towards cloud platforms because of key benefits it provides like self-service provisioning, elasticity and pay-per use that can be availed by both businesses and end users. cloud storage, hybrid cloud, cloud migration services, Integration Platform as a Service (iPaaS), cloud orchestration, Disaster Recovery as a Service (DRaaS), Video as a Service (VaaS), multi-cloud management, cloud analytics, cloud storage, Wi - Fi as a Service are the top 10 cloud technologies. These top 10 cloud technologies is expected to grow at a significant rate during the forecast period.
Presently, organizations are aggressively shifting towards cloud technologies as it helps in lowering costs, increases operations scalability, productivity and increases flexibility. Faster deployment, mobility, lower total cost of ownership, scalability, agility, increasing demand for interoperability between cloud services and existing systems and business continuity are the major drivers for adoption of various cloud technologies. Migration to cloud technologies helps organizations to move their assets such as databases, platforms, email, infrastructure and applications on the cloud. It reduces the costs, increases operations, and recovery, and manages other mission-critical tasks. Among top 10 cloud technologies, multi-cloud management is increasing rapidly due to increasing need for agility and automation in businesses. Moreover, due to rapid adoption of the hybrid cloud among the small and medium enterprises (SMEs) has opened doors to the new growth opportunities especially in the multi-cloud management market, thus boosting overall cloud technologies market.
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Among the top 10 technologies market, disaster recovery as a service and hybrid cloud market are the largest and fastest growing markets. Hybrid cloud is used in various application telecommunication, information technology, banking, financial services and insurance (BFSI), healthcare & life sciences. Among all these banking, financial services and insurance (BFSI) will hold the maximum market share. Disaster recovery as a Service includes various solutions and services such as easy accessibility, data synchronization, and online viewing. It also helps in retrieving and restoration of data during downtime or failures such as human error, power outage, and natural catastrophe. Wi - Fi as a service is a cloud managed Wi Fi service delivered to the end-user under a subscription-based pricing model. It is helpful to SMEs (small and medium enterprises) and large enterprises for effective collaboration between teams spread across different locations. Also Wi Fi-as a service offers features such as centralized management and remote trouble shooting. Growing demand of end-to-end visibility and faster deployment are driving the growth of the Wi - Fi as a service market.
Top 10 cloud technologies can be classified on basis of solutions, service types, applications, end-users vertical and regions. On basis of end users top 10 cloud technologies can be classified into banking and finance, healthcare, automobile telecom and information technology, manufacturing, government and others. Among these banking and finance is expected to have a highest growth rate during forecast period. On basis of region top 10 cloud technologies can be classified into North America, Europe, Asia Pacific regions (APAC), Middle East and Africa (MEA) and South America. North America holds the largest market share in top 10 cloud technologies market. Asia-Pacific (APAC) accounted for the largest growth rate in the top 10 cloud technologies market.
The key providers of the top 10 cloud technologies include, Microsoft Corporation, Cisco Systems, Inc., VMware, Inc., Google, Inc., Amazon Web Services, IBM Corporation, Oracle Corporation, Hewlett Packard Enterprise Company, Workday, Axcient, Rackspace Hosting, Inc., and SAP.
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