Public Cloud Market Forecast: Growth and Dominance of Major Providers

Wednesday, 7 August 2024, 14:00
The Public Cloud Market is poised to experience significant growth, projected to expand from $444.7 billion in 2022 to $987.7 billion by 2027. This growth reflects a Compound Annual Growth Rate (CAGR) of 17.3%. Key players in this booming industry include AWS, Microsoft, Google, Salesforce, and Alibaba Cloud, collectively transforming how enterprises access critical cloud services. The rise of the public cloud underscores the increasing demand for efficient, on-demand access to storage, computing, and networking services over the Internet.
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Public Cloud Market Forecast: Growth and Dominance of Major Providers

The Public Cloud Market Overview

The Public Cloud Market is set to grow dramatically, reaching USD 987.7 billion by 2027.

Key Market Players

  • AWS
  • Microsoft
  • Google
  • Salesforce
  • Alibaba Cloud

Growth Projections

  1. Current market size: USD 444.7 billion (2022)
  2. Projected market size: USD 987.7 billion (2027)
  3. Expected CAGR: 17.3%

Conclusion

The significant growth of the public cloud market highlights the increasing reliance on cloud services among enterprises. With leading companies like AWS and Microsoft at the forefront, the future of cloud computing is bright.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

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