Public Cloud Market Analysis And Trends
The public cloud market size is expected to grow from USD 444.7 billion in 2022 to USD 987.7 billion by 2027 at a Compound Annual Growth Rate (CAGR) of 17.3% during the forecast period. Organizations can use the common platform that the public cloud offers through an Internet connection. The public cloud services are managed by a third party, or cloud service provider, and operated on a pay-per-use model. Therefore, businesses, institutions of higher learning, governmental bodies, or a combination of groups, or even individuals, own, manage, and run public clouds.
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