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The global cloud-enabling technologies market size is expected to reach USD 63.63 Billion in 2030 and register a revenue CAGR of 8.3% during the forecast period
NEW YORK, NY, UNITED STATES, June 19, 2023/EINPresswire.com/ — The anticipated size of the global Cloud Enabling Technologies Market is projected to reach USD 63.63 billion by 2030, with a compound annual growth rate (CAGR) of 8.3% during the forecast period. The growing digitalization across various industries is fueling the demand for cloud computing and contributing to the expansion of the market’s revenue.
Budgets play a significant role in governing digital transformation plans, and the elasticity of cloud services helps organizations monitor and reduce unnecessary costs, facilitating business transformation. Cloud computing offers a wide array of automation opportunities and provides access to various “as-a-service” models, enabling the development of multiple automated processes. A well-planned IT infrastructure is crucial for successful digital transformation, and the cloud serves as a catalyst for exploring new business prospects, such as deploying robots in warehouses, providing streaming services to customers, and launching quick-service restaurants with cloud-based operations. Cloud computing is essential for digital transformation as it presents cost-effective and innovative opportunities for businesses to synchronize modern and legacy systems and create highly resilient business models. The primary objective of expanding cloud computing deployment is to enhance the value of businesses.
The increasing demand for cloud services, including Software-as-a-Service (SaaS), Infrastructure-as-a-Service (IaaS), and Platforms-as-a-Service (PaaS), is expected to drive the revenue growth of the market in the forecast period. IaaS offers computing, networking, and resource storage capabilities to users, leading to a surge in demand for cloud storage to accommodate big data generated by the Internet of Things (IoT). SaaS provides software solutions to users, while PaaS offers a platform for running applications, both of which require IT infrastructure to support their operations.
Private clouds experience high demand in cases where specialized hardware or specific configuration requirements are necessary. When workloads require virtual machines with non-standard Random-access Memory (RAM), Central Processing Unit (CPU), or an operating system that is not supported in the public cloud, a private cloud environment becomes ideal. The growing awareness of security issues is prompting organizations to opt for private cloud solutions. Furthermore, the increasing popularity of hybrid clouds is expected to drive overall revenue growth in the market during the forecast period.
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Segments Covered in the Report
By Deployment Mode Outlook
The cloud-enabling technologies market can be categorized into three deployment modes: public cloud, private cloud, and hybrid cloud.
Public Cloud: The public cloud deployment mode involves hosting services and infrastructure on a shared platform accessible to the general public. It offers scalability, cost-effectiveness, and ease of use. It is commonly adopted by organizations across various industries.
Private Cloud: Private cloud deployment refers to hosting services and infrastructure on a dedicated platform exclusive to a single organization. It offers enhanced security, control, and customization options, making it suitable for businesses with specific requirements or stringent data privacy regulations.
Hybrid Cloud: Hybrid cloud deployment combines elements of both public and private clouds. It allows organizations to utilize both on-premises infrastructure and public cloud services. This deployment mode offers flexibility, scalability, and the ability to leverage the benefits of both public and private clouds.
By Technology Outlook
Cloud-enabling technologies encompass various technological components that facilitate the implementation and operation of cloud computing environments.
Broadband Networks & Internet Architecture: Robust broadband networks and advanced internet architecture form the foundation for cloud computing. They enable high-speed connectivity, reliable data transmission, and efficient communication between cloud-based resources and end-users.
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Strategic development:
The market for cloud-enabling technologies is witnessing strategic development to enhance its growth and impact across various industries.
Key Market Drivers: The market’s growth is primarily driven by the increasing demand for cloud computing services and solutions. The rising trend of digitalization in industries has created a need for cloud-based technologies to support business transformation. Cloud elasticity plays a crucial role in cost optimization and helps organizations track and reduce unnecessary expenses, thereby supporting digital transformation plans.
Automation Opportunities: Cloud computing offers a wide range of automation opportunities, allowing businesses to streamline processes and improve efficiency. The availability of everything-as-a-service enables the automation of multiple tasks and workflows, contributing to increased productivity and operational agility.
IT Infrastructure and Business Opportunities: Digital transformation relies on a well-strategized IT infrastructure, and cloud computing serves as a catalyst for exploring new business opportunities. Industries can leverage cloud technologies to deploy robotics in warehouse units, offer streaming services to customers, and establish cloud-based quick-service restaurants. The cost-effectiveness and innovation potential of cloud computing enable businesses to synchronize modern and legacy systems and develop highly resilient business models.
Market Segmentation: The market for cloud-enabling technologies can be segmented based on deployment mode, technology outlook, application outlook, solution type outlook, and service type outlook.
Deployment Mode Outlook: The market includes public cloud, private cloud, and hybrid cloud deployment modes, each catering to different organizational requirements and priorities.
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Competitive Landscape:
BMC Software, Inc., HP Development Company, LP., IBM, Microsoft, Dell Technologies, Oracle, Citrix Systems, Inc., Broadcom, Parallels International GmbH, and SAP.
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Rajneesh Singh is a journalist at Asian News, specializing in entertainment, culture, international affairs, and financial technology. With a keen eye for the latest trends and developments, he delivers fresh, insightful perspectives to his audience. Rajneesh’s passion for storytelling and thorough reporting has established him as a trusted voice in the industry.
