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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.
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.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Europe Cloud Computing Market Size in 2022: | USD 60 billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 25% |
| 2032 Value Projection: | USD 650 billion |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 300 |
| Tables, Charts & Figures: | 310 |
| Segments covered: | Service, Organization, Deployment Model, Application |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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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.
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Europe Cloud Computing Market Scope
