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.
Various transactions can be scanned per second thus improving the industry’s ability to warfare financial crime, such as fraud and money laundering. Agile innovation, risk mitigation, cost benefits are the three factors that were identified by the British Bankers’ Association (BBA) in 2018 for the adoption of public cloud-based services by banks.
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
- SAP SE
- Alibaba Cloud Salesforce.com Inc.
- Digital Ocean Inc.
- Pivotal Inc. among others.
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Distributed Cloud Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprin.
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.