The word ‘cloud services’ refers to delivery of information technology resources and applications on-demand through the internet platform. Companies in the cloud services industry provide access to servers, storage, databases and a broad set of application services managed by a hardware networking.
The top five companies covered are IBM, Microsoft, Amazon, Google and Salesforce. IBM was the largest company in the cloud services market in 2017.
The countries covered are USA, China, Germany, Brazil, Japan, UK, Spain, Russia, France, Australia, Italy, India and rest of the world.
The global cloud services market was valued at around $290 billion in 2017. North America was the largest region in the cloud services market in 2017, accounting for nearly 60% market share. The USA was the largest country in the market in 2017, accounting for nearly 45% market share.
With growth and technological advances in the cloud industry, companies are witnessing a growing demand of hybrid cloud model. Hybrid cloud services meet organization’s regulatory norms while also benefiting from the economies of the cloud. They also support organizations in adopting cloud technology without making changes to the existing infrastructure. Since hybrid clouds limit the costs of users, demand has been growing among midsize enterprises .
The market segments in the cloud services market are Software as a Service (SaaS), Business Process as a Service (BPaaS), Infrastructure as a Service (IaaS) and Platform as a Service (PaaS).
Software as a Service (SaaS) provides complete applications over the Internet. It is also called web-based software, on-demand software or hosted software.
Business Process as a Service (BPaaS) are the services that are sourced from the cloud and constructed for multitenancy.
Infrastructure as a Service (IaaS) provides access to computer infrastructure through networked servers. Establishments providing IaaS host hardware, software, servers, storage and other infrastructure components for their users.
Platform as a Service (PaaS) provides a cloud based environment that delivers hardware and software tools for application development.