The global Cloud Professional Services Market size is estimated to be valued at USD 25.6 billion in 2023 and is projected to reach USD 55.3 billion by 2028 during the forecast period, growing at a CAGR of 16.6%. The growing focus of enterprises on improving customer experiences is one of the key factors driving the market growth.
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Top Cloud Professional Services Companies include
- IBM (US)
- Accenture (Ireland)
- Deloitte (UK)
- Wipro (India)
- Capgemini (France) and many more....
These cloud professional services companies have adopted various strategies, such as new product launches and enhancements, partnerships, collaborations, and acquisitions, to grow in the market.
By Service Model, the SaaS segment to account for a larger market share during the forecast period
The SaaS segment is expected to account for a larger market share during the forecast period. Most SaaS providers offer a usage-based subscription that can be purchased on a monthly or yearly basis. It eliminates the upfront cost of installation, along with the ongoing maintenance costs. It is a boon for small businesses as it provides access to expensive, high-powered software on a fair subscription-based method.
By Deployment Model, the private cloud segment is expected to grow for a higher growth during the forecast period.
The private cloud segment is expected to account for the highest growth rate during the forecast period. A private cloud is a computing model that offers a proprietary environment dedicated to a single business entity. This deployment model enables a company to have better control over its data and reduce risks, such as data loss and issues related to regulatory compliance.
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By region, North America is expected to account for the largest market size during the forecast period
North America is expected to account for the largest share in the Cloud Professional Services market. North America, for this study, includes the US and Canada. It is one of the most technologically advanced regions in the world. The region is well-connected with advanced infrastructure, which helps Cloud Professional Services vendors offer quality services to their clients. It offers the most innovative and fastest services available in the world through its network infrastructure. The Cloud Professional Services market in North America is competitive due to the presence of many solution providers. North America is expected to be one of the early adopters of 5G technology, which would boost the adoption of Cloud Professional Services solutions in the region. The presence of most key cloud vendors has contributed to the market growth in the region.
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Global Cloud Professional Services MarketThe GMI Research forecasts that the Cloud Professional Services Market is witnessing an upsurge in demand over the forecast period.
This is mainly due to their advantages like better efficiency, less cost and risk mitigation, swift digitalization, rising offerings from cloud service providers, and the mounting endorsement of a complex cloud environment.Request a FREE Sample of Cloud Professional Services Market.Introduction of the Cloud Professional Services MarketThe cloud service catalyzes the IT transformation, thus providing the adaptability to collect preferred clouds and existent on-premises infrastructure in the proportion required according to the workforce.
The market majorly includes two deployment models: public cloud and private cloud.Key Players of the Global Cloud Professional Services Market:AccentureDeloitteTata Consulting Services LimitedPwCHCLAtos SECiscoIBMWiproCapgeminiCloud Professional Services Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)Rapid digitalization and the accelerating number of cloud service providers are the prominent drivers responsible for the growth of the global Cloud Professional Services market.
In addition, the augmenting consciousness concerned with the several benefits offered by these services, which include cost optimization, enhanced effectiveness, and increasing competition accompanied by the aggravating acquisition of complex cloud environments, are further strengthening the Cloud Professional Services market size.
Microsoft Corporation and Walgreens Boots Alliance Inc., in 2019, collaborated to launch a new healthcare delivery model with an objective to enhance the future of the healthcare system.
The companies are increasingly focussing on connecting the WBA stores and health information systems to the individuals through their digital devices.Furthermore, the increasing endorsement of these services by the healthcare sector owing to the requirement of 24*7 services and s a large amount of data to be handled for the benefit of the patients.
