Public Cloud Application Services Market is predicted to grow at 23.5% CAGR through 2032

The public cloud application services market refers to the growing demand for cloud-based applications and services offered by third-party providers. It includes various solutions such as software as a service (SaaS), platform as a service (PaaS), and infrastructure as a service (IaaS). The market is expected to grow significantly in the coming years due to increasing adoption of cloud computing by businesses, the growing demand for cost-effective and scalable IT solutions, and the increasing availability of cloud services with improved security and reliability.

Additionally, the growth of digital transformation and the increasing demand for mobile and internet-based applications are also driving growth in the market.According to Future Market Insights’ analysis, the market for public cloud application services will grow at a strong 23.7% CAGR  when it is expected to reach a value of around US$ 130,550 million.

There is a constant need for better security, and using cloud infrastructure has the added benefit of simplifying secure access—even for remote access. Public cloud services are therefore becoming more frequently linked to business agility and speed. New opportunities 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 this cloud infrastructure and 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 models, 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 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 the 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 an unprecedented rate. However, new technologies such as AI, Robotics, AR/VR, IoT, cognitive security, etc., would see a surge in 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 an increasing rate, from 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

About Future Market Insights, Inc.

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

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