Cloud Computing Market Research Reports 2022 Global Industry Size, Share, In Depth Qualitative Insights, Explosive Growth Opportunity, Regional Analysis Forecast to 2028

The Cloud Computing Market size is expected to be valued at US$ 405,295.8 million in 2022 and reach US$ 1,465,818.2 million by 2028. The cloud computing market share is expected to grow at a CAGR of 23.9% from 2022 to 2028.

The demand for trustworthy and affordable cloud-based solutions and services has led to the emergence of various cloud-based service providers. These providers offer solutions that help organizations select the most cost-effective architecture that can deliver optimal performance. With the increasing popularity of multi-cloud environments, the market for third-party cost optimization is expected to grow during the forecast period.

Third-party cost optimization services focus on providing high-quality analytics that maximize cost savings without compromising on performance, offering multi-cloud management consistency, and cloud provider independence. Optimization is crucial in the early stages of cloud migration projects. Therefore, early identification of cost-cutting opportunities, the use of operational data analysis tools, and the establishment of skills and processes can benefit third-party cloud solutions. The increasing competition and government investments in developing cost-effective cloud-based products have attracted many enterprises to adopt cloud computing, contributing to the growth of the cloud computing market.

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The List of Companies -
1. Amazon Web Services
2. Microsoft Corporation
3. SAP SE
4. IBM Corporation
5. Salesforce.com, inc.
6. Google LLC
7. Oracle Corporation
8. Alibaba Group Holding Limited
9. Adobe
10. Workday, Inc.

The North America cloud computing market has experienced significant growth due to several factors, including favorable government policies, prominent cloud computing vendors, and strong internet infrastructure. Over the past few years, the demand for cloud computing has increased, which has had a positive impact on internet penetration rates. As a result, many foreign direct investments (FDIs) have been made in this region, contributing to the growth of the cloud computing market in North America.

The US offers numerous profitable opportunities due to its endorsement of Cross Border Privacy Rules (CBPR), which has enticed numerous investors to invest in Information Technology. This has led to many US-based companies maintaining a robust international market presence to expand their business. As a result, cloud service providers are collaborating, resulting in a formidable presence in the global market. For example, in September 2021, Salesforce launched Health Cloud 2.0, a connected platform that allows the company to provide improved safety to its employees and customers through various modules like Contact Tracing and Dreampass.

Moreover, Amazon HealthLake was introduced in December 2020 as a new product from Amazon Web Services, targeted towards healthcare and life sciences customers. The service helps organizations gather, categorize, organize, and structure data from different sources and uses machine learning capabilities to derive insights from it. Additionally, the Trans-Pacific Partnership (TPP) involving 12 countries, including the US, and the contribution of US-based cloud tech companies in implementing several multi-national agreements are likely to create new business prospects for cloud computing in North America. It is worth noting that over 90% of Canadians have internet access.

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