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Public Cloud Market Size
- Report ID: GMI5442
- Published Date: Feb 2023
- Report Format: PDF
Public Cloud Market Size
Public Cloud Market size exceeded USD 400 billion in 2022 and is anticipated to expand at over 10% CAGR between 2023 and 2032, attributed to the availability of cloud integrated with big data, artificial intelligence (AI), and machine learning (ML).
Surging public cloud spending is one of the biggest factors driving the market growth. For instance, India’s public cloud services (PCS) market spending is slated to reach over 7 billion by the end of 2024. Moreover, large companies such as Amazon Web Services (AWS), which plans to invest nearly USD 4.4 billion in India by 2030, are aiding in setting up a strong cloud infrastructure in Asia.
Furthermore, escalating integration of big data, AI, and ML with the cloud, which enables users to visualize, analyze, and monitor unprocessed data using combination technology, is set to complement product adoption. As ML learns patterns from stored data for predictive analysis, mounting deployment of AI and ML is fueling the market expansion. In a recent instance, OpenAI, an AI tech company, along with tech behemoth Microsoft, made their Azure OpenAI service available in November 2022 that combines open-source and cloud-based ML to help developers incorporate AI models into their existing infrastructure.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Public Cloud Market Size in 2022: | USD 400 Billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 10% |
| 2032 Value Projection: | USD 1 Trillion |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 400 |
| Tables, Charts & Figures: | 743 |
| Segments covered: | Deployment Model, Organization Size, Application |
| Growth Drivers: |
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Frequently Asked Questions (FAQ) :
Public Cloud Market Scope
