Distributed cloud demand is expected to grow at a CAGR of around 24% during the forecast period 2021-2031. Growing trend of adoption of digitization across prominent industry verticals and rise in focus for low-cost cloud services is expected to drive the demand for global distributed cloud market in forecast period.
In addition, the market growth primarily attributes to the burgeoning adoption of distributed cloud services among end-users like the automotive & BFSI sectors, the exponentially rising demand for data-driven technologies, such as artificial intelligence & the Internet of Things, and the snowballing adoption of microservice-based software development.
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What is Driving the Demand for Distributed Cloud?
Rise in adoption of data management generated by increased need of low data recovery, high usage of mobile technologies, managing increase workloads and data, enhanced data recovery, and growing adoption of digitalization are some of the key driving factors for the growth of this market.
Furthermore, new product launches, rising interest of government to implement and promote cloud technologies, and rapid implementation of cloud technologies for numerous applications are expected to boost the lucent opportunities for the market. In addition to this, the public clouds services are able to shift towards an enhanced distributed cloud computing with the high end security are also adding the fuel for the growth of this market.
BFSI Sector is Expected to Contribute Largest Market Share
The BFSI segment is anticipated to hold the largest share in 2021 owing to the rising demand for agile, scalable, and cost-effective computing. Distributed cloud model delivers innovative customer experiences, effective collaboration thus enhancing the market growth.
Adding to this, high penetration of hybrid cloud and increasing number of digital services and their applications in the sector is enhancing the market growth. Also, data sharing, data security, and confidentiality are enhancing the market growth owing to their widespread use in BFSI.
Furthermore, distributed cloud provides a platform for optimizing the banking operations while delivering innovative services to the customer, which is consequently boosting the demand for the distributed cloud segment for the BFSI domain.
US Distributed Cloud Industry Outlook
The main drivers for the growth of distributed cloud adoption in the US include factors such as digitization, presence of a large number of enterprises, data security, data back-up and data recovery. Adding to this, industrial automation, improving the services to the customers for quicker queries and others are boosting the demand for distributed cloud. Furthermore, increased application of cloud computing, internet of things (IOT) and so on are enhancing the market growth.
Moreover, the presence of major market players in the country and the high adoption rate of advanced technologies is driving the growth of the market in the US. The high demand for cloud services across various industry verticals and the presence of skilled professionals are expected to fuel the market growth over the next ten years.
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Middle East & Africa Demand Outlook for Distributed Cloud
The distributed cloud market in the MEA region is estimated to expand at a significant rate and projected to dominate the global cloud integration market between 2021 & 2031. The key drivers of this market include enterprise mobility, increased agility, easy deployment and scalability of platforms, which are the major factors responsible for the growth of distributed cloud industry in MEA. However, the major restraint to this market is lack of awareness and security and privacy issues, are likely to limit the market growth in the near future.
Who are the Key Distributed Cloud Providers?
Some of the leading providers of distributed cloud include
- Amazon Web Services Inc.
- Microsoft Corporation
- VMware Inc.
- Google LLC
- Verizon Communications Inc.
- Oracle Corporation
- IBM Corporation
By Service Type:
- Data Security
- Data Storage
By Enterprise Size:
- Small & Medium Enterprises (SMEs)
- Large Enterprises
- Volunteer Cloud
- Public Resource Computing
- Fog/Edge Computing
- IT & Telecom
- Retail and e-Commerce
- North America
- Latin America
- East Asia
- South Asia & Pacific
- Middle East & Africa
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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.