During the projected period of 2022-2029, the public cloud application services market is anticipated to reach US$ 1,100 Mn with a 9.7% CAGR

As per the examination of Future Market Insights, the global public cloud application services market is forecasted to reach a figure of about US$ 130,550 Mn in 2022 and is poised to display a strong 23.7% CAGR in the period of examination.

Continuous the demand for enhanced security and the added benefit of using cloud infrastructure which makes secure access simplified, even for remote access. Thus, public cloud services are being increasingly associated with business nimbleness and speed. The growth of the Infrastructure as a Service (IaaS) has created new opportunities for the usage of public cloud services. This is surely altering the enterprise IT value chain. A recent trend in many enterprises is the mixing of existing IT infrastructure with cloud infrastructure and this remains the ideal path to public IaaS adoption.

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Key Takeaways of Public Cloud Application Infrastructure Services Market Study

Among the application segment, the application infrastructure & middleware sub-segment is expected to witness a high growth rate during the forecast period, owing to the increasing adoption of digital business model, and modern application infrastructure to connect data, software, users, and hardware.
East Asia is expected to create lucrative growth opportunities for players in the public cloud application infrastructure services market, owing to the IT organizations are migrating their business-critical infrastructure to the cloud, and increased adoption of hybrid IT, in the countries of this region.

Increasing Adoption of Public Cloud Application Infrastructure Services amid the COVID-19 Pandemic outbreak

The increasing work-from-home scenario amid global lockdowns due to COVID-19 outbreak, would drive the market for public cloud application infrastructure services during Q2-Q4 2020. Public cloud application infrastructure service-based offerings such as application development, database management systems, business intelligence platform, and others would grow at unprecedented rate. However, new technologies such as AI, Robotics, AR/VR, IoT, cognitive security etc., would see surge in the adoption owing to the increasing new use-cases and new market opportunities. In addition, the overall public cloud application infrastructure services market is projected to grow at increasing rate, Q1 2021 onwards.

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Introduction of New Public Cloud Application Infrastructure Services to Remain Key Strategy

Key vendors focusing on public cloud application infrastructure platforms are strategizing to develop and innovate new services related to public cloud infrastructure technology in order to achieve full global coverage and enhanced customer experience.

In September 2019, Oracle partnered with VMware to provide support customers for implementing hybrid cloud strategies. According to this partnership, customers are able to execute their hybrid cloud strategies by using VMware Cloud Foundation on Oracle Cloud Infrastructure.

North America Market Set to Dominate the Global Public Cloud Application Services Market in Terms of Revenue

The market in North America is set to dominate the global public cloud application services market in terms of value and this trend is projected to sustain itself throughout the assessment period. North America public cloud application services market is the most attractive market, growing at a robust CAGR over the forecast period.

More Valuable Insights on Public Cloud Application Infrastructure Services Market

FMI's report on the public cloud application infrastructure services market is segmented into five major sections such as application type (application development, application infrastructure & middleware, business intelligence platform, database management systems, others), platform services (data services, application platforms, integration services, development & lifecycle services, other platform services), enterprise (large enterprise, small & medium enterprise), vertical (government, BFSI, healthcare, telecommunication, media & entertainment, energy & utilities, retail/ wholesale, manufacturing,  transportation, and others) and region to help readers understand and lucrative evaluate opportunities in the public cloud application infrastructure services market.

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Public Cloud Application Services Market: Segmentation

The global Public Cloud Application Services market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to readers.

By Application

Business Intelligence Application
Customer Relationship Management
Digital Content Application
ERP Application
Enterprise Content Management
Office Suites
Project Management
Supply Chain Management
Social Software Suites
Application Software

By Enterprise

Large Enterprise
Small & Medium Enterprise

By Vertical

Government
BFSI
Healthcare
Telecommunication
Media & Entertainment
Energy & Utilities
Retail/ Wholesale
Manufacturing
Transportation
Others

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

This release was published on openPR.