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Europe Cloud Computing Market Size

  • Report ID: GMI2902
  • Published Date: Dec 2022
  • Report Format: PDF

Europe Cloud Computing Market Size

Europe Cloud Computing Market size was valued at USD 60 billion in 2022 and is projected to exhibit a CAGR of 25% between 2023 and 2032.

 

Europe Cloud Computing Market

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The growing need for cost-effective IT infrastructure and high return on investment will propel the market growth. Enterprises in the region have witnessed significant setbacks due to the lack of flexibility and scalability of traditional on-premises IT infrastructure. Cloud computing services on the other hand provide cost-effectiveness and higher returns by offering on-demand computing and eliminating the requirement for hardware resources. New investments and initiatives made by government authorities to boost economic growth should promote the use of cloud computing solutions by enterprises.
 

Cloud outages or cloud service unavailability can have a negative impact on the market revenue. Small and medium enterprises (SMEs) that do not own on-premise backup solutions can face difficulties while incorporating cloud solutions. Performance issues and system downtime due to network outages, data center outages, power outages, and physical damage to data centers can influence the ability to maintain business continuity.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market for cloud computing in Europe was valued at over USD 60 billion in 2022 and is projected to witness a 25% CAGR through 2032 driven by the growing adoption of cloud services by enterprises.

In 2022, the SaaS segment held over 60% share of the Europe cloud computing industry as the service model enabled businesses to lower their IT spending.

The market for cloud computing in Italy is forecasted to record at over 30% CAGR between 2023 to 2032 due to strong presence of several multinational corporations.

Amazon Web Services, Inc., CenturyLink, CloudSigma Holding AG, Fujitsu, Google LLC., IBM Corporation, and Microsoft Corporation are some of the leading players in the market.

Europe Cloud Computing Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 19
  • Tables & Figures: 310
  • Countries covered: 8
  • Pages: 300
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