Europe Cloud Computing Market Share 2023- Industry Trends, Revenue, Growth Drivers, Business Challenges, Latest Technologies and Future Opportunities Till 2033: SPER Market Research
Cloud computing is the on-demand internet access to a range of computing resources, including networking capabilities, data storage, development tools, applications, and servers (both physical and virtual). These resources are housed in a remote data centre under the management of a cloud services provider (CSP). By using the cloud, we may assign part or all of the costs and duties associated with creating, establishing, configuring, and maintaining our own on-premises infrastructure. The technology that powers the cloud is also referred to as “cloud computing.” This technology includes virtualized IT infrastructure, such as servers, networking, operating systems, and other infrastructure that is abstracted through the use of special software.
According to SPER market research, ‘Europe Cloud Computing Market Size– By Service Type, By Organisation Type, By Application, By Deployment Model- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Europe Cloud Computing Market is predicted to reach USD 126.93 billion by 2033 with a CAGR of 9.2%.
Cloud computing companies in Europe may grow their clientele and establish footholds in new regions by launching innovative services and technology. During the projected period, this aspect is probably going to propel the market’s expansion at a significant CAGR. By enabling information access across all devices at any time and from any location, cloud computing services in Europe simplify company functions. Cloud computing services are becoming more and more in demand as companies adapt to suit the demands of their consumers, and their dependability is increasing. Cloud computing services are becoming popular due to the growing demand for off-premises resources that are scalable, secure, dependable, and reasonably priced. The corporate expenditure on cloud computing is expanding at double-digit rates.
However, IT professionals are severely lacking in technical abilities, especially in cloud computing. Due to this ignorance, businesses are losing out on the advantages of developing technologies and the cloud, which will eventually result in a decline in market share and income. Due to a number of issues, including quick hiring procedures, high pay for seasoned cloud workers, and trouble finding people who fit with the company’s culture, recruiting managers have a hard time finding qualified applicants. Should the scarcity of cloud labour persist, the company’s expansion engines may falter.
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Impact of COVID-19 on Europe Cloud Computing Market
The COVID-19 pandemic has drastically altered workplace culture and how we operate. The trend of working from home instead of in an office has opened up a lot of possibilities for cloud services including collaboration solutions based on Software-as-a-Service (SaaS). The adoption of cloud computing by businesses is growing as a result of a growth in cloud investment, which is greater than spending on traditional or non-cloud IT infrastructure.
Europe Cloud Computing Market Key Players:
Over the past ten years, cloud computing services have grown significantly throughout Europe as well. Based on the increasing need for cloud computing services, this region’s market is expected to expand positively as well. Europe has become a major participant in the global cloud computing scene, with considerable development and acceptance occurring in a number of different sectors and businesses. Furthermore, major companies in the market—both domestic and international—have had a significant impact in Europe by providing a broad variety of cloud services and solutions to meet the demands of a wide spectrum of clients. Several prominent players in the European cloud computing industry include Amazon Web Services, Microsoft Corporation, SAP SE, IBM Corporation, Salesforce.com, Inc., Google LLC, Oracle Corporation, Alibaba Group Holding Limited, Adobe, and Workday, Inc.
Europe Cloud Computing Market Segmentation:
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2033. This report contains statistics on product type segment growth estimates and forecasts.
By Service Type: Based on the Service Type, Europe Cloud Computing Market is segmented as; Infrastructure-as-a-Service (IaaS), Platform-as-a-Service (PaaS), Software-as-a-Service (SaaS).
By Organisation Type: Based on the Organisation Type, Europe Cloud Computing Market is segmented as; Large Enterprises, SMEs.
By Application: Based on the Application, Europe Cloud Computing Market is segmented as; BFSI, Education, Government and Public Sector, Healthcare, IT and Telecom, Manufacturing, Retail, Others.
By Deployment Model: Based on the Deployment Model, Europe Cloud Computing Market is segmented as; Hybrid, Private, Public.
By Region: This research also includes data for France, Germany, Italy, Netherlands, Nordics, Spain, Switzerland, United Kingdom, Others.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
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Europe Cloud Computing Market Challenges
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