Private Cloud Server Market Size, COVID19 Impact Analysis, Regional Analysis, Application Development, Competitive Landscape & Forecast, 2021 – 2027
Report ID: GMI1286
Private Cloud Server Market size will experience a dynamic growth between 2021-2027. The exponential rise in the popularity of cloud computing is driving the global market growth. Network providers are rendering robust solutions that have become a viable domain in retail and consumer goods, healthcare and BFSI sectors.
Private cloud server works on the self-service mechanism maintained and managed by in-house IT or can be hosted by a third party. Several large corporations, especially those for whom security is paramount, such as banks, lawyers and auditors, prefer private cloud. The cloud server enhances agility, provides better service results and boosts collaboration between various departments within the enterprise. The market uptake will rise with soaring concerns over data security and disaster recovery.
With several organizations having a “cloud first strategy”, cloud computing has become a viable trend fueling private cloud server market revenue. Cloud computing has become a model to maximize the flexibility of resources, making private cloud servers a dominant model amidst stiff competition from the public cloud.
Company leaders are also witnessing the trend for BYOD and the use of the mobile workforce, along with upsides such as scalability, agility and creating virtual machines. These trends will add fuel to private cloud server market growth.
The BFSI sector is leveraging the cloud to new business frontiers and has emerged as a viable segment. Banks are putting strategies in place to help them prepare for the future and are moving to the private cloud for automation, simplicity, disaster recovery and improved security. The unprecedented events of 2020 have favored cloud strategy for banks and financial institutions.
Microsoft Corp, Amazon, Accenture PLC, Cisco System, Hewlett-Packard Development, International Business Machine are some of the active vendors in the private cloud server market. These cloud service providers render services to businesses of all sizes.
These companies are viewing optimization, innovations and product launches as major growth propelling factors. For instance, Amazon is investing around USD 2.8 billion in India to establish a new AWS cloud. The new AWS will leverage stakeholders to run their applications and serve customers from data centers situated in India.
Meanwhile, Microsoft announced its contemplation to invest in Sweden to launch its sustainable datacenter region in 2021. It will provide Microsoft Azure to render IoT, networking, computing, database services.
With private cloud becoming invaluable to boost the penetration of hybrid cloud, IBM has upped its investment. IBM is pouring $ 1 billion to augment the adoption of hybrid cloud and AI. The company has also partnered with Tech Mahindra to establish a $ 1 billion ecosystem to focus on AI and hybrid cloud.
Impact of COVID-19 on Private Cloud Server Market Trends
Recent disruptions such as the COVID-19 have reinforced the prevailing notion that the private cloud is the future. COVID-19 has spurred a wake-up call as organizations realize the significance of agility, scalability, security, resilience and adaptability. Companies are addressing immensely volatile customer demand and managing the need for remote network access.
They are shifting their cloud infrastructure strategies and responding to coronavirus with an increased focus on private cloud.
The pandemic has created ample opportunity for the private cloud server industry players to develop sustainable, meaningful businesses and counter security concerns. As the industry places greater importance on data privacy, organizations are shifting their attention to the private cloud, positively impacting private cloud server market outlook.
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