According to Future Market Insights’ analysis, the market for public cloud application services will grow at a robust 23.7 percent CAGR from 2017 to 2022, when it is expected to reach a value of around US$ 130,550 Mn.
There is a constant need for better security, and employing cloud infrastructure has the extra benefit of simplifying secure access—even for distant access. Public cloud services are therefore becoming more frequently linked to corporate agility and speed. New prospects for using public cloud services have been made possible by the expansion of Infrastructure as a Service (IaaS). The enterprise IT value chain is undoubtedly changing as a result. The blending of current IT infrastructure with cloud infrastructure is a recent trend in many businesses, and thus remains the ideal path to public IaaS adoption.
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Key Takeaways of Public Cloud Application Infrastructure Services Market Study
- Among the application segment, the application infrastructure & middleware sub-segment is expected to witness a high growth rate during the forecast period, owing to the increasing adoption of digital business model, and modern application infrastructure to connect data, software, users, and hardware.
- East Asia is expected to create lucrative growth opportunities for players in the public cloud application infrastructure services market, owing to the IT organizations are migrating their business-critical infrastructure to the cloud, and increased adoption of hybrid IT, in the countries of this region.
Increasing Adoption of Public Cloud Application Infrastructure Services amid the COVID-19 Pandemic outbreak
The increasing work-from-home scenario amid global lockdowns due to COVID-19 outbreak, would drive the market for public cloud application infrastructure services during Q2-Q4 2020. Public cloud application infrastructure service-based offerings such as application development, database management systems, business intelligence platform, and others would grow at unprecedented rate. However, new technologies such as AI, Robotics, AR/VR, IoT, cognitive security etc., would see surge in the adoption owing to the increasing new use-cases and new market opportunities. In addition, the overall public cloud application infrastructure services market is projected to grow at increasing rate, Q1 2021 onwards.
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Introduction of New Public Cloud Application Infrastructure Services to Remain Key Strategy
Key vendors focusing on public cloud application infrastructure platforms are strategizing to develop and innovate new services related to public cloud infrastructure technology in order to achieve full global coverage and enhanced customer experience.
- In September 2019, Oracle partnered with VMware to provide support customers for implementing hybrid cloud strategies. According to this partnership, customers are able to execute their hybrid cloud strategies by using VMware Cloud Foundation on Oracle Cloud Infrastructure.
North America Market Set to Dominate the Global Public Cloud Application Services Market in Terms of Revenue
The market in North America is set to dominate the global public cloud application services market in terms of value and this trend is projected to sustain itself throughout the assessment period. North America public cloud application services market is the most attractive market, growing at a robust CAGR over the forecast period.
More Valuable Insights on Public Cloud Application Infrastructure Services Market
FMI’s report on the public cloud application infrastructure services market is segmented into five major sections such as application type (application development, application infrastructure & middleware, business intelligence platform, database management systems, others), platform services (data services, application platforms, integration services, development & lifecycle services, other platform services), enterprise (large enterprise, small & medium enterprise), vertical (government, BFSI, healthcare, telecommunication, media & entertainment, energy & utilities, retail/ wholesale, manufacturing, transportation, and others) and region to help readers understand and lucrative evaluate opportunities in the public cloud application infrastructure services market.
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Public Cloud Application Services Market: Segmentation
The global Public Cloud Application Services market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to readers.
By Application
- Business Intelligence Application
- Customer Relationship Management
- Digital Content Application
- ERP Application
- Enterprise Content Management
- Office Suites
- Project Management
- Supply Chain Management
- Social Software Suites
- Application Software
By Enterprise
- Large Enterprise
- Small & Medium Enterprise
By Vertical
- Government
- BFSI
- Healthcare
- Telecommunication
- Media & Entertainment
- Energy & Utilities
- Retail/ Wholesale
- Manufacturing
- Transportation
- Others
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About FMI
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.
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