Cloud Computing Market

Beyond the Cloud: Top Trends Shaping the Future

According to MarketsandMarkets, the global cloud computing market will increase from USD 626.4 billion in 2023 to USD 1,266.4 billion by 2028, with a CAGR of 15.1% over the projected period. The proliferation of mobile devices, IoT, hybrid cloud, and multi-cloud strategies will drive the expansion of the cloud computing market.

Emerging trends in the global Cloud Computing Market are:

  • AI and Machine Learning (AI/ML)
  • Multi-cloud and Hybrid Cloud Deployments
  • Low-code/No-code Cloud Solutions
  • Edge Computing
  • Focus on Security
  • Serverless Computing
  • DevSecOps
  • Disaster Recovery and Backup
  • Disaster Recovery and Backup

To know about the assumptions considered for the study download the pdf brochure

The cloud computing market is constantly evolving, with new trends emerging all the time. Here are some of the hottest trends to watch in 2024:

AI and Machine Learning (AI/ML): Cloud computing provides the ideal platform for AI and ML due to its vast computational resources and storage capacity.  This trend is expected to see growth in areas like self-automation, personalized cloud experiences, and enhanced data security.

Multi-cloud and Hybrid Cloud Deployments:  Companies are increasingly using multiple cloud providers or a combination of public and private cloud solutions to optimize costs, security, and functionality.

Low-code/No-code Cloud Solutions: These user-friendly tools allow businesses to build cloud applications without extensive coding knowledge, democratizing cloud development.

Edge Computing:  Processing data closer to where it's generated, at the "edge" of the network, is becoming increasingly important for applications like the Internet of Things (IoT). Cloud providers are developing solutions to integrate seamlessly with edge computing environments.

Focus on Security: Data security remains a top concern for cloud users. Cloud providers are constantly developing new security solutions to address these concerns, such as encryption and advanced access controls.

Serverless Computing: This allows businesses to run applications without managing servers, offering increased scalability and cost efficiency.

DevSecOps: This approach integrates security considerations throughout the software development lifecycle, improving cloud security posture.

Disaster Recovery and Backup: Cloud-based disaster recovery and backup solutions offer businesses a reliable way to protect their data and applications from downtime.

These are just a few of the emerging trends in the cloud computing market. As cloud technology continues to evolve, we can expect to see even more innovation in the years to come.

Related Reports:

Cloud Computing Market by Service Model (IaaS, PaaS, SaaS), Deployment Model(Public Cloud, Private Cloud, Hybrid Cloud), Organization Size, Vertical (BFSI, Telecommunications, Manufacturing, Retail & Consumer Goods) and Region - Global Forecast to 2028

Cloud Computing Market Size,  Share & Growth Report
Report Code
TC 1228
RI Published ON
4/7/2024
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