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Market InsightsThe private cloud offers a high advantage for organizational use as it provides flexible IT solutions that are highly scalable. The increased demand for private cloud services is expected to expand the market to reach a value of more than USD 13 Bn by the end of 2023.
The flexibility and scalability that private cloud services offer are highly advantageous which can be priced similarly. This has had a significant impact on the adoption of cloud services. The demand for low cost and secure IT operations, combined with the increased adoption of cloud services across a variety of industry verticals. Moreover, private cloud services eliminate the need for complex IT infrastructure which has further encouraged demand for the same. Moreover, small and medium enterprises are also able to use cloud services due to their flexible nature.
Lack of technical expertise in this nascent market in tandem with high initial costs are some factors that restrain market growth. However, the potential the market represents and the development of cloud-based services for private clouds are expected to offer significant opportunities for growth.
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Market Segmentation
The global private cloud services market is segmented on the basis of services, organization size, and industry. By services, the market is segmented into software as a service (SaaS), infrastructure as a service (IaaS), and platform as a service (PaaS). By organization size, the market is divided between SMEs and large enterprises. By industry, the market is categorized into media & entertainment, information technology & telecommunication, banking & financial services, government, education, retail, healthcare, and manufacturing.
Regional Analysis
The global private cloud services market is led by North America due to the presence of diverse companies, and the proactive R&D carried out in the IT sector for the development of new products. US & Canada are the significant countries in the region which have an inclination toward the rapid adoption of advanced IT solutions. Fast network capabilities and the presence of many leading market players are expected to assist North America in retaining its leading market position.
Meanwhile, the Asia Pacific is growing at a rapid pace as it has been recognized for the potential it has. The high concentration of emerging economies in the region has attracted international players due to the lower costs available in the region combined with the abundant availability of affordable labor. Countries such as India and China are rapidly making a name for themselves as IT hubs.
The global Private Cloud Services Market is anticipated display a highly promising CAGR of 21% during the forecast period of 2017 t0 2023.
Key Players
Hewlett Packard Enterprise Company, Cisco Systems Inc, Microsoft Corporation, Oracle Corporation, Amazon Web Services, International Business Machines Corporation, Red Hat Inc, Dell Inc, Salesforce.com Inc, and Rackspace Inc among others are some of the leading players listed in MRFR's competitive analysis.
Latest Industry News
OVHcloud has recently released private cloud services based on software from VMware.
Alibaba Cloud has launched nine new products along with its private cloud services outside of China.
LIST OF TABLES
Table1 World Population By Major Regions (2017 To 2030)
Table2 Global Private Cloud Services Market: By Region, 2017-2023
Table3 North America Private Cloud Services Market: By Country, 2017-2023
Table4 Europe Private Cloud Services Market: By Country, 2017-2023
Table5 Asia-Pacific Private Cloud Services Market: By Country, 2017-2023
Continued…..
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LIST OF FIGURES
FIGURE 1 Global Private Cloud Services Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Five Forces Analysis Of Global Private Cloud Services Market
FIGURE 4 Value Chain Of Global Private Cloud Services Market
FIGURE 5 Share Of Global Private Cloud Services Market In 2017, By Country (In %)
Continued….
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Website: https://www.marketresearchfuture.com/reports/private-cloud-services-market-5087
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