The cloud-enabling technology market is expected to register a CAGR of over 8.26%, during the forecast period 2018 – 2023. The report enlists providers of cloud-enabling technology software and service for various industries hosted on cloud and on-premise.
The market for cloud-enabling technologies is increasing at high rate across the world, owing to the emergence of advanced cloud platforms, which helps to develop new cloud technology. Advanced, cloud technology services allow thousands of customers to use similar resources aiding companies to reduce their expenses. Cloud enables technology to adapt quickly 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 solutions in a very short time. All these factors aid the organization to focus on their core competency, which in turn, results in their overall growth. All the above factors have been significant growth aspects for the cloud enable technology market on a global arena.
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Public Cloud Is Expected To Have High Growth in the Market Owing To Cost Cutting Efficiencies
The public cloud is based on the standard cloud computing platforms these type of services is comparatively inexpensive to the private cloud, as the cloud is shared among multiple users. Companies are now shifting toward Public Clouds to reduce the cost and overhead expenses. However, security concerns over data are hindering the growth in this segment. However, with the continuous development and innovations in the technology and service providers around the globe are offering better security with end-to-end encryption and monitoring services.
North America the largest market in terms of global share
The North America region is projected to have the largest growth in demand, during the forecast period (2018-2023), this is due to the early adoption of cloud-based technologies by the United States markets. 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 it was estimated that nearly 35% of SMBs in the country have already deployed cloud solutions. 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 expected to show significant growth rate over the forecast period.
Key developments in the market
Jun 2018: IBM and CA Technologies have done partnership to do the product innovation in the cloud and DevOps landscape. With this partnership, it will help organizations clients to develop, test, and monitor applications in the mainframe.
Febr 2018: Cisco and Google have been collaborating to extend their cloud computing capabilities over the hybrid cloud collaboration. Cisco has further added that the ability to run applications will help preserve the existing infrastructure while extending to cloud services.
Jul 2017: Google has 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 has invested about USD 30 billion on its cloud platform.
Major players: BMC SOFTWARE, INC., CA TECHNOLOGIES, CITRIX SYSTEMS, INC., HEWLETT PACKARD ENTERPRISE DEVELOPMENT LP, GOOGLE LLC, IBM CORPORATION, TATA CONSULTANCY SERVICES LIMITED , DOMO, INC., ADAPTIVE COMPUTING, FUJITSU LTD., ORACLE CORPORATION, and DELL TECHNOLOGIES, among others..
Reasons to Purchase this Report
Provides latest insights into Global Cloud-Enabling Technologies Market.
Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
To understand the dominating technology in the market.
The region that is expected to witness the fastest growth during the forecast period.
Identify the latest developments, market shares and strategies employed by the major market players.
3 months analyst support along with the Market Estimate sheet (in Excel).
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