Cloud Computing Market Size, Share & Trends Analysis Report By Service (Infrastructure as a Service, Platform as a Service), By Deployment, By Workload, By Enterprise Size, By End-use, By Region, And Segment Forecasts, 2024 - 2030

Research Methodology

A three-pronged approach was followed for deducing the cloud computing market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for cloud computing market to gather the most reliable and current information possible.

• We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
• We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
• We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
• We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
• We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of cloud computing market data depending on the type of information we’re trying to uncover in our research.

• Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

• Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

• Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

• Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

• Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

• Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

• This step also entails the finalization of the report scope and data representation pattern.

• Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Cloud Computing Market Categorization:

The cloud computing market was categorized into five segments, namely service (Infrastructure As A Service, Platform As A Service, Software As A Service), deployment (Public, Private, Hybrid), enterprise size (Large Enterprises, Small & Medium Enterprises), end-use (BFSI, IT & Telecom, Retail & Consumer Goods, Manufacturing, Energy & Utilities, Healthcare, Media & Entertainment, Government & Public Sector), and regions (North America, Europe, Asia Pacific, Latin America, Middle East & Africa).

Segment Market Methodology:

The cloud computing market was segmented into service, deployment, enterprise size, end-use, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

• Demand estimation of each product across countries/regions summed up to from the total market.

• Variable analysis for demand forecast.

• Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

• Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

• Used extensively for new product forecasting or analyzing penetration levels.

• Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

• Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

• This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The cloud computing market was analyzed at a regional level. The global was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into fifteen countries, namely, the U.S.; Canada; the UK.; Germany; France Japan; China; India; South Korea; Australia; Brazil; Mexico; United Arab Emirates; Saudi Arabia; South Africa.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Cloud computing market companies & financials:

The cloud computing market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

• Adobe, Inc.: Adobe, Inc. provides a wide range of multimedia solutions and digital marketing products. The company focuses on developing creativity and multimedia software. It delivers its products through the managed service delivery model or the Software-as-a-Service (SaaS) delivery model. Moreover, its products are offered through pay-per-use and term subscription models. Adobe, Inc. operates its business through three reportable segments, namely digital media, digital experience, and publishing and advertising.

• Alibaba Group Holding Limited: The company specializes in retail, e-commerce, technology, and the internet. The company provides Business-to-Business (B2B), Business-to-Consumer (B2C), Consumer-to-Consumer (C2C), and sales services through web portals, shopping search engines, cloud computing services, and electronic payment services. Alibaba Cloud, a subsidiary of Alibaba Group Holding Limited, offers cloud computing services. It offers a complete suite of cloud services, including elastic computing, storage, database, network virtualization services, security, large-scale computing, big data analytics, machine learning platforms, management, application services, and IoT services, to customers worldwide.

• Amazon.com Inc.: Amazon.com Inc. is a technology company that focuses on cloud computing, e-commerce, Artificial Intelligence (AI), and digital streaming. In 2002, it launched Amazon Web Services (AWS), which delivers data on website status, internet traffic patterns, and other statistics for developers and marketers. In 2006, Amazon developed its AWS portfolio with Simple Storage Service (S3), which rents data storage and computer processing power via the Internet and Elastic Compute Cloud (EC2).

• Google LLC: Google LLC, a subsidiary of Alphabet Inc., is a technology company specializing in internet-related products and services. The company focuses on business areas such as web-based search and internet-associated products and services. Furthermore, it generates revenue through advertisement sales in two categories, namely Brand Advertising, which allows businesses to create ad campaigns to promote brand awareness, and Performance Advertising, which creates and provides appropriate ads that users click on. The company operates its offices across North America, Latin America, Europe, Asia Pacific, and Africa & Middle East.

• International Business Machines Corporation: International Business Machines Corporation is a technology and cognitive solutions company engaged in developing and providing IT solutions and services such as integrated communications, business continuity and resiliency, IT strategy and architecture, security and privacy, maintenance and technical support, storage, and data services. The company is focused on providing software-defined networking solutions to its customers. The company’s business intelligence solutions are driven by augmented intelligence and system-generated analysis, which help users predict outcomes and share information through dashboards or stories.

• Microsoft Corporation: Microsoft Corporation is a developer, manufacturer, and licensor of Personal Computers (PCs) and computer software. Microsoft Corporation operates through three business segments, namely more Personal Computing, Intelligent Cloud, and Productivity and Business Processes. The company has a global footprint and operates in over 190 countries worldwide with a strong network of partners, resellers, distributors, and retailers. It provides a wide range of consulting services to assist customers in developing, deploying, and managing Microsoft solutions and provides training and certification to developers and information technology professionals on various Microsoft platforms and products.

• Oracle Corporation: Oracle Corporation is a global information technology services and solutions company that holds expertise in databases and relational servers, application development, decision support tools, and enterprise business applications. The company provides business software and has an extensive portfolio of solutions that can be offered to companies of varying dimensions. The company operates through four business segments, namely hardware, cloud services and license support, cloud license and on-premise license, and services.

• Salesforce.com Inc.: Salesforce.com Inc. is an enterprise software provider that offers customer management software suite through a cloud platform. The company provides Customer Relationship Management (CRM) solutions by providing a platform for developers and customers to develop and run business applications. Its product offerings include sales cloud, service cloud, marketing cloud, and community cloud. The company has marked its presence in North America, Europe, Asia Pacific, and the Middle East.

• SAP SE: SAP SE is a software solution provider. The company’s enterprise software solutions help manage customer relations and business operations. Its product portfolio comprises analytics, content & collaboration, financial management, mobile technology management, product lifecycle management, supply chain management, and supplier relationship management solutions. The company also offers products and services, including IoT and digital supply chain, Enterprise Resource Planning (ERP) and digital core, digital platform, procurement and networks, analytics, finance, people engagement, and customer experience.

• Workday, Inc.: Workday, Inc. is engaged in offering financial management and human capital management software. The company’s product portfolio comprises financial management, human capital management, enterprise planning, spend management, talent management, analytics & reporting, and payroll & workforce management. It caters to various industries and sectors, including communication, education, financial services, energy & resources, healthcare, hospitality, life sciences, manufacturing, media & entertainment, and public. The company also offers its services and solutions to medium and small enterprises.

Value chain-based sizing & forecasting

Supply Side Estimates

• Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

• Segment revenue determination via variable analysis and penetration modeling.

• Competitive benchmarking to identify market leaders and their collective revenue shares.

• Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

• Identifying parent markets and ancillary markets

• Segment penetration analysis to obtain pertinent

• revenue/volume

• Heuristic forecasting with the help of subject matter experts

• Forecasting via variable analysis

Cloud Computing Market Report Objectives:

• Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

• Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

• Understanding market estimates and forecasts (with the base year as 2023, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Cloud Computing Market Report Assumptions:

• The report provides market value for the base year 2023 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

• The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

• We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

• All market estimates and forecasts have been validated through primary interviews with the key industry participants.

• Inflation has not been accounted for to estimate and forecast the market.

• Numbers may not add up due to rounding off.

• Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

• Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

• Latin America includes Central American countries and the South American continent

• Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

• Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

• Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.