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Cloud Enabling Technologies Market Size Expected to Reach USD 74.42 Billion at CAGR of 8.82%, by 2028

Reports And Data

Reports And Data

Cloud Enabling Technologies Market Size – USD 38.21 Billion in 2020, CAGR of 8.82%, Market Trends – Rising implementation of SDN (software-defined networking)

NEW YORK, NY, UNITED STATES, November 18, 2021 / -- Enhanced emergence of advanced cloud based platforms, which helps to develop new cloud technology globally, is the major factor influencing market growth.

The global Cloud Enabling Technologies Market is expected to reach USD 74.42 Billion by 2028, according to a new report by Reports and Data. This can be mainly associated with the adoption of advanced cloud technology services that allows thousands of customers to access similar resources helping companies to cut down their expenses. Based on statistics, the penetration of advanced cloud based platforms that helps to develop new technology, is also significant factor stimulating market demand.

Due to the quick adoption of cloud-based technologies in the United States markets, the North America region accounts for the highest market share of 43.21% in 2020. Advantages such as improved flexibility and activity and being able to deploy new applications more quickly are the major reasons for growth in this region. In the United States, organizations, where employees are above 100 in number, are approving cloud-based applications.

Key participants include BMC Software Inc, Google LLC, IBM Corporation, Citrix Systems Inc Oracle Corporation, Hewlett Packard Enterprise Development LP, CA Technologies, Domo Inc, Adaptive Computing, Fujitsu Ltd, Tata Consultancy Services Limited, Dell Technologies.

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 Further key findings from the report suggest

• Due to the affordable cost efficiency, Public cloud is anticipated to have the highest CAGR of 10. 3% during the forecast period. Businesses have quickly moved towards cloud technologies globally in recent times, the primary reason for the large scale acceptance of cloud technologies have been extensive scalability and decreased operational costs offered by cloud services. The public cloud domain is the cloud services administered over a network for public access. It is a multi-tasking environment where the computing space is shared with some other clients. The organizations across the globe are gradually strategizing to adopt public cloud.
• APAC is estimated to register the highest CAGR of 9.2%, during the forecasted period. More organizations in the APAC region are adopting a cloud-enabling approach. As a result, cloud base technology has now become a favored option for IT modernization.
• North America is expected to reach USD 27.33 billion by 2028. A significant driver behind the investments is the continuous development and applications of new technologies that were earlier deemed non-commercial. With these series of investments, retail, healthcare, communications, and manufacturing applications in North America are anticipated to witness a notable growth rate, over the forecast period.
• Virtualization technology accounts for the largest market share of 26.10% in 2020. It is a type of technology where data storage or an application guest operating system is removed from the actual underlying software or hardware. A principal use of virtualization technology is server virtualization that utilizes a software layer called a hypervisor to imitate the underlying hardware.
• The BFSI segment will grow at 9.2% CAGR during the forecast period due to the increased demand for faster and flexible technologies.
• Software as a service (SaaS) accounts for the largest market share of 36.2% in 2020. SaaS is a software division model in which a third-party provider of hosts applications and helps to make them available to the customers over the Internet. SaaS is one of the three main categories of cloud computing, along with platform as a service (PaaS) and infrastructure as a service (IaaS)
• Private cloud deployment mode is estimated to grow at a CAGR of 8.4% during the forecast period. It is an on-demand configurable supply of shared computing devices allocated within a public cloud environment, providing a sound level of privacy between different organizations that are using the resources.

To identify the key trends in the industry, click on the link below:

For the purpose of this report, Reports and Data have segmented global Cloud Enabling Technologies Market on the basis of Deployment mode, Technology, Application, Solution type, Service type and region:

Deployment mode Outlook (Revenue, USD Million; 2020-2028)

Public Cloud
Private Cloud
Hybrid Cloud

Technology Outlook (Revenue, USD Million; 2020-2028) 

Broadband Networks and Internet Architecture
Data Center Technology
Virtualization Technology
Web Technology
Multitenant Technology

Application Outlook (Revenue, USD Million; 2020-2028)

Telecom & IT
Manufacturing & Retail

Solution type Outlook (Revenue, USD Million; 2020-2028)

SOA Solution
Automated computing

Service type Outlook (Revenue, USD Million; 2020-2028)

Platform as a Service (PaaS)
Infrastructure as a Service (IaaS)
Software as a Service (SaaS)

Regional Outlook (Revenue, USD Million; 2020-2028)

North America
Asia Pacific
Latin America

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Market Report includes major TOC points:

• Cloud Enabling Technologies market Overview
• Global Economic Impact on Industry
• Global Market Competition by Manufacturers
• Global Production, Revenue (Value) by Region
• Global Supply (Production), Consumption, Export, Import by Regions
• Global Production, Revenue (Value), Price Trend by Type
• Global Market Analysis by Application
• Manufacturing Cost Analysis
• Industrial Chain, Sourcing Strategy and Downstream Buyers
• Marketing Strategy Analysis, Distributors/Traders
• Market Effect Factors Analysis
• Cloud Enabling Technologies market Forecast

Conclusively, all aspects of the Cloud Enabling Technologies market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.

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Tushar Rajput
Reports and Data
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