Cloud Computing Market - By Component Type (IaaS, Paas, SaaS), By Deployment Model (Public Cloud, Private Cloud, Hybrid), By Organization Size (Small and Medium Business, Large Enterprise), By End-users (Banking, Financial Services, and Insurance (BFSI), Telecommunications, IT, Government and Public Sector, Retail, Manufacturing, Energy and Utilities, Media and Entertainment, Healthcare and Life Sciences, Others), By Geography - Global Opportunity Analysis & Industry Forecast, 2023-2030

Report Code: ESR 0695 Report Format: PDF + Excel

Cloud Computing Market Overview:

The Cloud Computing Market size is estimated to reach $1,933 billion by 2030, growing at a CAGR of 17.3% during the forecast period 2023-2030. Technological advancements, such as the Internet of Things (IoT) and artificial intelligence (AI) are driving demand for cloud computing. These technologies generate large amounts of data that need to be stored and processed, which can be done more efficiently and cost-effectively using cloud-based solutions.

The Cloud computing market is a rapidly growing industry that enables individuals and organizations to access and store data, applications and other resources on remote servers through the internet. There are several different types of cloud computing services, including Infrastructure as a Service (IaaS), Platform as a Service (PaaS) and Software as a Service (SaaS). Cloud-based information systems, which rely on cloud computing, are becoming increasingly popular as they allow organizations to access and use data and applications. In addition, the cloud computing market growth is expected to rise as many organizations are willing to adopt cloud-based information systems and edge computing in the forecast period.

Market Snapshot:

Cloud Computing Market

Cloud Computing Market - Report Coverage:

The “Cloud Computing Market Report - Forecast (2023-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Cloud Computing Market.



By Component

  • Infrastructure as a Service (IaaS)

    • Primary Storage

    • Disaster Recovery and Backup

    • Archiving

    • Compute

  • Platform as a Service (PaaS)

    • Application Development and Platforms

    • Application Testing and Quality

    • Analytics and Reporting

    • Integration and Orchestration

    • Data Management

  • Software as a Service (SaaS)

    • Customer Relationship Management

    • Enterprise Resource Management

    • Human Capital Management

    • Content Management

    • Collaboration and productivity Suites

    • Supply Chain Management

By Deployment Model

  • Public Cloud

  • Private Cloud

  • Hybrid

By Organization Size

  • Small and Medium Businesses

  • Large Enterprise

By End-user

  • Banking, Financial Services and Insurance (BFSI)

  • Telecommunications

  • IT

  • Government and Public Sector

  • Retail

  • Manufacturing

  • Energy and Utilities

  • Media and Entertainment

  • Healthcare and Life Sciences

  • Others

By Geography

  • North America (the US, Canada and Mexico)

  • Europe (Germany, France, the UK, Italy, Spain, Russia and the Rest of Europe),

  • Asia-Pacific (China, Japan, South Korea, India, Australia & New Zealand and the Rest of Asia-Pacific),

  • South America (Brazil, Argentina, Chile, Colombia and the Rest of South America)

  • The Rest of the World (the Middle East and Africa).

COVID-19 / Ukraine Crisis - Impact Analysis: 

  • The COVID-19 pandemic had a significant impact on the Cloud Computing market. The sudden shift to remote work and the need for remote access to data and applications drove an increase in demand for cloud-based solutions. Many organizations that were not already using cloud computing had to quickly adopt it in order to enable remote work and ensure business continuity.
  • The Russia-Ukraine war has created a critical geopolitical turning point for Europe and the world that would affect global ICT demand in the coming years. According to a report, after a public security breach, the stocks of cloud service companies only witness a small and temporary dip.

Key Takeaways:

The Dominance of the North America Region

Geographically, North America held the largest share with 35.90% of the overall market in 2022. There are more mobile devices than ever before. More businesses are embracing cloud computing. Big data analytics are growing in popularity and cybersecurity is becoming a higher priority in the North American region. North America was able to control the global IaaS market, thanks to the extensive IT infrastructure that was already in place and the consequent rise in demand for Infrastructure as a Service (IaaS), leading to the Cloud Computing market opportunities.

Software as a Service (SaaS) Segment Holding Largest Market Share

According to the Cloud Computing market forecast, based on Component Type, the Software as a Service (SaaS) Segment held the largest cloud computing market share with 57.8% of the market in 2022. It is estimated to grow at the fastest CAGR of 16.7% during the forecast period of 2023–2030. It is estimated that there is a rapid rise in the number of enterprises shifting toward the cloud. More than 70% of companies are shifting a majority of their application to the Software as a Service (SaaS) platform. Such factors generate further Cloud Computing market growth opportunities during the forecast period.

High Growth Among Manufacturing

Based on End-user, the manufacturing segment is estimated to grow the fastest during the forecast period 2023-2030. Manufacturing is expected to be the most opportunistic segment during the forecast period. Manufacturers in the Asia-Pacific region embrace public and private clouds at a rate of 49%. Public cloud adoption stands at 66%, while private cloud adoption is at 68%. Approximately 50% of those surveyed use a mix of public and private clouds for their IT resources, according to a corporate cloud study. The rising adoption of cloud services in the manufacturing sector for storing information, supply chain handling and planning enterprise resources is expected to boost the growth of this segment during the forecast period.

Integration of AI and ML-Powered Cloud to Drive the Market

AI and ML-powered cloud applications assist in automating routine activities within IT infrastructure, increasing productivity and enhancing the performance and efficiency of organizations. Meanwhile, companies such as Google, Microsoft and Salesforce are integrating AI as an intelligence layer across their entire tech stack. According to Pega, Consumers use more AI than they realize. While only 33% think they use AI-enabled technology, 77% actually use an AI-powered service or device.

Increased Attention to Customer Satisfaction

The growing need to reduce operating expenses and the requirement to keep capital expenditures to a minimum are two important reasons that are significantly boosting the growth of the global cloud computing industry during the forecast period 2023-2030. In 2021, 57% of businesses were using AI and ML-powered cloud technology to improve customer satisfaction.

Security Concerns to Hamper Market Growth

According to Cloud Computing Market analysis, one of the main challenges for the cloud computing market is the issue of security. Many organizations are concerned about the security of their data when it is stored in the cloud. There have been instances of data breaches and cyber-attacks on cloud servers, which has caused some companies to be hesitant to adopt cloud computing. According to Check Point's 2022 Cloud Security Report, 27% of organizations have experienced a security incident in their public cloud infrastructure in the last year.

Cloud Computing Market: Market Share (%) by Region, 2022

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Key Market Players:

Product/Service launches, approvals, patents and events, acquisitions, partnerships and collaborations are key strategies adopted by players in the Cloud Computing Market. The top 10 companies in the Cloud Computing Market are:

  1. Amazon Web Services (EC2)
  2. Google LLC (Compute Engine)
  3. Microsoft Corporation (Dynamics 365)
  4. International Business Machines Corporation (Cloud Code Engine)
  5. SAP SE (Analytics Cloud)
  6. Alibaba Group Holding Limited (Virtual Private Cloud)
  7. Adobe Inc., (Acrobat Pro)
  8. Oracle Corporation (Oracle Cloud Infrastructure (OCI))
  9. Salesforce, Inc. (Sales Cloud)
  10. Workday, Inc. (Workday Financial Management)

Scope of Report:

Report Metric


Base year considered


Forecast period



Growing at the rate of 17.3%

Market Size

1,933 billion USD

Segments Covered

By Component Type, Deployment Model, By Organization Size, End-user and Region.

Geographies covered

North America (the US, Canada and Mexico), Europe (Germany, France, the UK, Italy, Spain, Russia and the Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia & New Zealand and the Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and the Rest of South America) and the Rest of The World (the Middle East and Africa).

Key Market Players

1. Amazon Web Services

2. Google LLC

3. Microsoft Corporation

4. International Business Machines Corporation


6. Alibaba Group Holding Limited

7. Adobe Inc.,

8. Oracle Corporation

9. Salesforce, Inc.

10. Workday, Inc.

Frequently Asked Questions:

i. What is the growth rate of the Cloud Computing market during the forecast period?

The Cloud Computing Market is projected to grow at 17.3% during the forecast period 2023-2030.

ii. What is the predicted growth of the Global Cloud Computing Market size from 2022 to 2030?

The Global Cloud Computing Market size is estimated at $532.50 billion in 2022 and is projected to reach $1,933 billion by 2030.

iii. Which are the leading market players in the Cloud Computing Market?

Amazon Web Services, Google, Microsoft Corporation, IBM Inc. and SAP SE are some of the leading market players in the Cloud Computing Market

iv. What are the major trends that would shape the market in future?
Rapid digitization has compelled various organizations to digitize and modernize their infrastructural landscape to boost cost efficiency and agility. These are the major Cloud Computing Market trends.

v. What are the driving factors and opportunities in the market?
Rising investments in the development of strong telecommunications and IT infrastructure are expected to further fuel the growth of the global cloud computing market. New technological developments are creating opportunities for the market.

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1. Cloud Computing Market Overview
    1.1 Definitions and Scope
2. Cloud Computing Market – Executive Summary
3. Cloud Computing Market – Market Landscape
    3.1 Company Benchmarking – Key Companies
    3.2 Key Company Financial Analysis
    3.3 Market Share Analysis - Key Companies
    3.4 Patent Analysis
    3.5 Pricing Analysis (Comparison of General Price Offerings in the Market)
4. Cloud Computing Market – Startup Company Scenario (Premium)
    4.1 Investment
    4.2 Revenue
    4.3 Venture Capital and Funding Scenario
5. Cloud Computing Market – Market Entry Scenario Premium (Premium)
    5.1 Regulatory Scenario
    5.2 New Business and Ease of Doing business index
    5.3 Case Studies of Successful Ventures
6. Cloud Computing Market – Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porter’s Five Force Model
        6.3.1 Bargaining power of suppliers
        6.3.2 Bargaining powers of customers
        6.3.3 Threat of new entrants
        6.3.4 Rivalry among existing players
        6.3.5 Threat of substitutes
7. Cloud Computing Market – Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunities Analysis
    7.3 Market Life Cycle Analysis
8. Cloud Computing Market – by Component Type (Market Size - $Million/$Billion)
    8.1 IaaS
        8.1.1 Primary Storage
        8.1.2 Disaster Recovery and Backup
        8.1.3 Archiving
        8.1.4 Compute
    8.2 Paas
        8.2.1 Application Development and Platforms
        8.2.2 Application Testing and Quality
        8.2.3 Analytics and Reporting
        8.2.4 Integration and Orchestration
        8.2.5 Data Management
    8.3 SaaS
        8.3.1 Customer Relationship Management
        8.3.2 Enterprise Resource Management
        8.3.3 Human Capital Management
        8.3.4 Content Management
        8.3.5 Collaboration and productivity Suites
        8.3.6 Supply Chain Management
        8.3.7 Others
9. Cloud Computing Market – by Deployment (Market Size - $Million/$Billion)
    9.1 Public Cloud
    9.2 Private Cloud
    9.3 Hybrid
10. Cloud Computing Market – by Organization Size (Market Size - $Million/$Billion)
    10.1 Small and Medium Business
    10.2 Large Enterprise
11. Cloud Computing Market – by End-users (Market Size - $Million/$Billion)
    11.1 Banking, Financial Services and Insurance (BFSI)
    11.2 Telecommunication
    11.3 IT
    11.4 Government and Public Sector
    11.5 Retail
    11.6 Manufacturing
    11.7 Energy and Utilities
    11.8 Media and Entertainment
    11.9 Health care and Life Sciences
    11.10 Others
12. Cloud Computing Market – by Geography (Market Size - $Million/$Billion)
    12.1 North America
        12.1.1 The U.S.
        12.1.2 Canada
        12.1.3 Mexico
    12.2 Europe
        12.2.1 Germany
        12.2.2 France
        12.2.3 The UK
        12.2.4 Italy
        12.2.5 Spain
        12.2.6 Russia
        12.2.7 The Rest of Europe
    12.3 Asia-Pacific
        12.3.1 China
        12.3.2 Japan
        12.3.3 South Korea
        12.3.4 India
        12.3.5 Australia & New Zealand
        12.3.6 The Rest of Asia-Pacific
    12.4 South America
        12.4.1 Brazil
        12.4.2 Argentina
        12.4.3 Chile
        12.4.4 Colombia
        12.4.5 The Rest of South America
    12.5 The Rest of the World
        12.5.1 The Middle East
        12.5.2 Africa
13. Cloud Computing Market – Market Entropy
    13.1 New product launches
    13.2 M&As, collaborations, JVs and partnerships
14. Cloud Computing Market – Industry Competition Landscape (Premium)
    14.1 Market Share Analysis
        14.1.1 Market Share by Type – Key Companies
        14.1.2 Market Share by Country – Key Companies
        14.1.3 Market Share by Region – Key Companies
    14.2 Competition Matrix
    14.3 Best Practices for Companies
15. Cloud Computing Market – Key Company List by Country Premium (Premium)
16. Cloud Computing Market – Company Analysis
    16.1 Company 1
    16.2 Company 2
    16.3 Company 3
    16.4 Company 4
    16.5 Company 5
    16.6 Company 6
    16.7 Company 7
    16.8 Company 8
    16.9 Company 9
    16.10 Company 10
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