Key Highlights
- The global cloud computing market size was valued at approximately $445 billion in 2021
- By 2027, the cloud computing market is projected to reach $832.1 billion
- 92% of enterprises have a multi-cloud strategy
- The number of connected IoT devices is expected to reach 25.4 billion by 2030
- 83% of enterprise workloads are expected to be in the cloud by 2024
- The average cost savings for companies moving to the cloud is around 20-30%
- 70% of organizations utilizing cloud services say they have achieved significant cost savings
- Cloud security spending is projected to exceed $5 billion in 2023
- Amazon Web Services (AWS) holds approximately 32% of the global cloud infrastructure market share
- Google Cloud's market share is estimated around 11%
- Microsoft Azure holds roughly 20% of the global cloud infrastructure market
- The IT industry’s expenditure on cloud services is expected to reach $197 billion in 2023
- 78% of organizations run hybrid cloud environments
The explosive growth of cloud computing, projected to reach over $832 billion by 2027 and powering over 80% of enterprise workloads, is revolutionizing how organizations operate, innovate, and secure their digital futures worldwide.
Cloud Deployment Models and Usage Trends
- 78% of organizations run hybrid cloud environments
- The top three cloud deployment models are public, private, and hybrid
- The average duration from initial cloud adoption to full cloud integration is approximately 2.5 years
Cloud Deployment Models and Usage Trends Interpretation
Investment, Infrastructure, and Cost Management
- The average cost savings for companies moving to the cloud is around 20-30%
- 70% of organizations utilizing cloud services say they have achieved significant cost savings
- Data center investments are projected to total $600 billion worldwide by 2025, fueled by cloud computing
- 64% of organizations are planning to increase investment in artificial intelligence and machine learning as part of their cloud strategy
- The average cloud storage cost per GB has decreased by 61% since 2013
Investment, Infrastructure, and Cost Management Interpretation
Market Growth
- The global market for cloud-native applications is expected to grow at a CAGR of 22% between 2022 and 2030
- Serverless computing is expected to grow at a CAGR of 27% through 2026
- The global serverless architecture market is expected to reach $20 billion by 2028
- The cloud archiving solutions market is forecasted to grow at a CAGR of 12%, reaching $9.5 billion by 2028
Market Growth Interpretation
Market Growth and Market Share
- The global cloud computing market size was valued at approximately $445 billion in 2021
- By 2027, the cloud computing market is projected to reach $832.1 billion
- The number of connected IoT devices is expected to reach 25.4 billion by 2030
- 83% of enterprise workloads are expected to be in the cloud by 2024
- The IT industry’s expenditure on cloud services is expected to reach $197 billion in 2023
- The average enterprise uses 137 cloud services or applications
- SaaS cloud applications are projected to generate revenues of over $300 billion by 2025
- 60% of developers prefer to build applications on cloud platforms
- The energy consumption of data centers worldwide accounts for about 1% of global electricity use
- Edge computing revenue is projected to reach $33 billion by 2025
- The number of cloud data centers worldwide is expected to reach over 8 million by 2025
- 81% of enterprises in 2023 have adopted or are planning to adopt containers for application deployment
- The average number of cloud providers per organization is 2.4
- 85% of enterprises plan to increase their cloud budgets in 2023
- The total number of global cloud computing data centers exceeded 2 million in 2023
- Cloud computing is expected to create 14 million jobs worldwide by 2025
- The public cloud storage market is expected to reach $150 billion by 2024
- The adoption of hybrid cloud platforms increased by 150% from 2020 to 2023
- Data analytics and AI workloads are responsible for over 30% of cloud resource consumption
- 90% of companies using cloud services experience improved operational efficiency
- The global market for AI in cloud computing is projected to reach $115 billion by 2024
- The average number of cloud applications used per organization is over 100
- By 2025, 80% of all enterprise workloads will be in the cloud
- The median time to migrate to cloud for organizations is approximately 9 months
- Over 60% of organizations use cloud analytics to improve decision-making
Market Growth and Market Share Interpretation
Market Share
- 92% of enterprises have a multi-cloud strategy
- Amazon Web Services (AWS) holds approximately 32% of the global cloud infrastructure market share
- Google Cloud's market share is estimated around 11%
- Microsoft Azure holds roughly 20% of the global cloud infrastructure market
- In 2022, 42% of all data processed was stored and managed in the cloud
- Cloud-native applications account for about 75% of new applications developed
- Kubernetes is used by nearly 80% of organizations deploying containerized applications
- Over 50% of enterprise data is stored in the cloud as of 2023
- 65% of enterprises have a dedicated cloud center of excellence
- Cloud-based disaster recovery solutions are used by over 70% of organizations to ensure business continuity
Market Share Interpretation
Security, Compliance, and Challenges
- Cloud security spending is projected to exceed $5 billion in 2023
- 47% of organizations experienced security challenges during cloud migration
- 45% of data breaches in 2022 occurred due to misconfigured cloud resources
Security, Compliance, and Challenges Interpretation
Sources & References
- Reference 1STATISTAResearch Publication(2024)Visit source
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