Cloud Computing Industry Data Book - 2030

Jyoti Waghmare14 Jul, 2023Technology

The global market size for cloud computing was estimated at USD 483.97 billion in 2022 and is anticipated to increase at a CAGR of 14.1% from 2023 to 2030. The growth can be attributed to factors such as the increasing amount of data generated by mobile applications and websites, the need for large storage requirements, the increasing need to deliver customer-centric applications to increase customer satisfaction, and the need for control and reduction of Capital Expenditures (CAPEX) and Operational Expenditures (OPEX). Several emerging technologies are driving the growth of the global cloud computing market, such as big data, Artificial Intelligence (AI), and Machine Learning (ML). In addition, cloud computing services are driven by other prominent factors, such as protecting private information, increasing Disaster Recovery (DR) speed, and the execution of regulatory mandates. As a result, cloud storage services with unlimited storage are increasingly being implemented by enterprises