Public Cloud Market

Emerging Technologies and Trends in the Public Cloud Market

The public cloud market is anticipated to increase from USD 444.7 billion in 2022 to USD 987.7 billion by 2027, with a Compound Annual Growth Rate (CAGR) of 17.3%.

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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The global Public Cloud Market is evolving rapidly, driven by technological advancements, increasing adoption across various industries, and changing business needs. Here are some of the emerging trends in this market:

  • Multi-Cloud and Hybrid Cloud Strategies
  • Edge Computing
  • Artificial Intelligence and Machine Learning
  • Serverless Computing
  • Security and Compliance
  • Cloud-Native Applications
  • Sustainability and Green Cloud
  • Industry-Specific Cloud Solutions

Multi-Cloud and Hybrid Cloud Strategies:

  • Adoption: Organizations are increasingly adopting multi-cloud and hybrid cloud strategies to leverage the benefits of multiple cloud providers and on-premises infrastructure.
  • Flexibility: These strategies offer greater flexibility, risk management, and cost optimization, allowing businesses to avoid vendor lock-in and improve resilience.

Edge Computing:

  • Expansion: The integration of edge computing with public cloud services is expanding, enabling data processing closer to the source of data generation.
  • Applications: This trend supports applications requiring low latency, such as IoT, autonomous vehicles, and real-time analytics.

Artificial Intelligence and Machine Learning:

  • Advanced Capabilities: Public cloud providers are increasingly offering AI and ML services, making it easier for businesses to deploy advanced analytics and AI-driven applications.
  • Democratization: These services democratize access to powerful AI and ML tools, enabling even small and medium-sized enterprises (SMEs) to leverage these technologies.

Serverless Computing:

  • Growth: Serverless computing, or Function-as-a-Service (FaaS), is gaining popularity due to its cost-efficiency and scalability.
  • Simplification: This trend simplifies the development process by allowing developers to focus on writing code without managing underlying infrastructure.

Security and Compliance:

  • Enhanced Focus: As cybersecurity threats grow, public cloud providers are enhancing their security offerings, including advanced threat detection, encryption, and compliance management.
  • Zero Trust Architecture: Adoption of Zero Trust security models is increasing, emphasizing continuous verification of users and devices.

Cloud-Native Applications:

  • Development: There is a growing trend towards developing cloud-native applications designed specifically to run in the cloud, utilizing microservices, containers, and Kubernetes for scalability and resilience.
  • Benefits: These applications offer improved performance, agility, and easier management.

Sustainability and Green Cloud:

  • Eco-Friendly Initiatives: Public cloud providers are investing in sustainability, focusing on reducing their carbon footprint and using renewable energy sources.
  • Green Cloud Solutions: Offering solutions that help customers track and reduce their environmental impact.

Industry-Specific Cloud Solutions:

  • Customization: Providers are offering tailored cloud solutions designed to meet the specific needs of industries such as healthcare, finance, retail, and manufacturing.
  • Regulatory Compliance: These solutions often include compliance features to meet industry-specific regulations.

Related Reports:

Public Cloud Market by Service Model (Infrastructure as a Service, Platform as a Service, Software as a Service, Organization Size (Large enterprises, Small and Medium Enterprises (SMEs)), Vertical and Region - Global Forecast to 2027

Public Cloud Market Size,  Share & Growth Report
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