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.
A public cloud is a web-based service architecture in which public shared resources including apps, servers, and storages are accessed as per the requirement. There are multiple tenants sharing the same pool of IT infrastructure in this multi-tenant scenario. Utilizing public cloud services results in scale economies and resource sharing that can lower prices and broaden the range of available technologies. Using public cloud services indicates that any organization (in any industry sector and jurisdiction) can utilize the same services (such as infrastructure, platform, or software), without any assurances as to where data would be housed and stored, from the perspective of a government organization.
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Some of the major public cloud market vendors are AWS (US), Microsoft (US), Google (US), Salesforce (US), Alibaba Cloud (China), Oracle (US), IBM (US), SAP (Germany), Tencent (China), Workday (US), Fujitsu (Japan), VMWare (US), Rackspace (US), HPE (US), Adobe (US), NEC (Japan), Cisco (US), Dell Technologies (US), ServiceNow (US), OVH (France), Huawei (China), Verizon (US), OrangeGroup (France), NetApp (US), dinCloud (US), Vultr (US), Megaport (Australia), AppScale (US), Zymr (US), Genesis Cloud (Germany), Ekco (Ireland), Tudip Technologies (India), ORock Technologies (US), and CloudFlex (Nigeria).
AppScale was founded in 2013 and is headquartered in Queensland, Australia. AppScale is cloud software that allows you to run AWS workloads on users servers without any code modification. AppScale operates by simulating native AWS cloud services such as EC2, S3, EBS, and others on servers that are not under AWS's control. By enabling the exact same tools, procedures, and APIs that users would use in AWS, AppScale enables the deployment of workloads on public infrastructure. AppScale can run on nearly any infrastructure, whether it comes from a colocation service provider, operates on bare metal, or is installed on-site due to its adaptable installation and adjustable configuration. Each deployment exposes specific AWS API endpoints that can be accessed by any applications and workloads that utilize the public cloud services provided by AWS for their fundamental architecture. Different policies or regulations may be in effect because each AppScale deployment is self-contained. Further, AppScale can assist users with their goals of lowering costs, increasing control, or resolving privacy, security, or compliance challenges.
Verizon was founded in 1983 and is headquartered in New Jersey, US. Verizon provides communications, information, and entertainment products and services to consumers, businesses, and governmental agencies. The company offers products across business communications, mobility, network, security, IoT, and consumer experience services. In the public cloud market, the company offers Verizon Cloud, which is a managed computing platform that enables the provision of computing resources for mission-critical applications in minutes. Verizon Cloud lets customers control processing, storage, and memory resources, and allows them to deploy server capacity on demand. Verizon Cloud services are available in both sell and resale models. It serves various industries, such as construction, BFSI, healthcare, retail, transportation and logistics, technology, travel, and hospitality. The company has 150 locations across North America, Europe, Asia Pacific, and Latin America.
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
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