The global Cloud Professional Services market size is estimated to be valued at USD 25.6 billion in 2023 and is projected to reach USD 55.3 billion by 2028 during the forecast period, growing at a CAGR of 16.6%. The growing focus of enterprises on improving customer experiences is one of the key factors driving the market growth.
The key market players dominating the Cloud Professional Services market include Accenture (Ireland), IBM (US), Deloitte (UK), EY (UK), PwC (UK), HPE (US), HCLTech (India), Wipro (India), TCS (India), and Capgemini (France). These players have adopted various strategies, such as new product launches and enhancements, partnerships, collaborations, and acquisitions, to grow in the market.
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Accenture is a diversified computer technology and consulting corporation and is engaged in offering delivery and implementation services, application services, business process outsourcing, technology consulting, and cloud services. Accenture provides its ‘Cloud Ascent’ point of view series that shows how mastering migration, hyper-scale integration, modernization, management, and innovation can help unlock greater flexibility, agility, and new growth opportunities. It offers a full spectrum of cloud services, including cloud strategy and change management, migration, optimization, engineering and automation, infrastructure services, cloud security, data on the cloud, and sustainability with cloud and cloud platforms. In September 2022, Accenture acquired Sentia’s business in the Netherlands, Belgium, and Bulgaria to enhance Accenture’s Cloud First capabilities and provide cloud infrastructure services across public, private, and sovereign cloud environments.
IBM is a leading multinational company that develops hardware and software technologies for computer systems and provides consulting services. The company offers a robust product portfolio in analytics, social and security, IoT, cloud, and mobile. IBM Cloud offers an open and secure public cloud for business, a next-generation hybrid multi-cloud platform, advanced data and AI capabilities, and deep enterprise expertise across 20 industries. IBM has more than 60 data centers worldwide to deploy locally and scale globally for resiliency and redundancy on six continents. In February 2023, IBM announced the acquisition of NS1, a network automation SaaS solution provider, to drive agility in hybrid cloud environments.
Cloud Professional Services Market by Service Type (Consulting, Application Development & Modernization), Service Model (SaaS, PaaS, IaaS), Deployment Model (Public and Private), Organization Size, Vertical and Region - Global Forecast to 2028
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