European Cloud Computing Market Size worth $75bn by 2026

Europe Cloud Computing Market size is set to reach USD 75 billion by 2026; according to a new research report by Global Market Insights, Inc.
 

Cloud computing is a type of computing under which the service provider offers resources including storage, networking, and applications to customers over the internet. Service providers deliver on-demand computing services through a pay-per-use business model.
 


Request Sample Buy NowInquiry Before Buying

 

The Europe cloud computing market demand is attributed to growing popularity of public cloud services to manage extensive workloads and supportive policies adopted by government agencies to promote cloud adoption. For instance, in May 2019, the European government adopted a new Cloud Strategy, which helps to unleash the potential of cloud computing in the region. The government has also implemented the European Cloud initiative to strengthen the region’s position in data-driven innovation and develop a digital single market in Europe.
 

Profound growth of data centers in Europe to augment cloud computing market value

The region is witnessing a rapid market growth of data centers, particularly in countries including Germany, France, the Netherlands, UK, and Sweden. The global cloud solution providers are making huge investments in the region, thus augmenting the cloud services usage for meeting storage and networking demands. For instance, in June 2019, Google planned to invest USD 1.1 billion in the Netherlands data centers as a part of the company’s strategy to tap into the vast digital ecosystem in the country, offering its Google Cloud Services to local enterprises. As the demand for data centers is rapidly rising, cloud computing services adoption will increase to support the enterprises’ need for managing networking equipment and big data. 
 

Browse key industry insights spread across 240 pages with 252 market data tables and 29 figures & charts from the report, “Europe Cloud Computing Market Size By Service Type (Software-as-a-Service (SaaS), Infrastructure-as-a-Service (IaaS), Platform-as-a-Service (PaaS)), By Organization Type (Large Enterprises, SMEs), By Deployment Model (Public Cloud, Private Cloud, Hybrid Cloud), By Application (IT & Telecom, BFSI, Government and Public Sector, Healthcare, Retail, Manufacturing, Education), Industry Analysis Report, Regional Outlook), Growth Potential, Competitive Market Share & Forecast, 2019 – 2026” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/europe-cloud-computing-market
 

PaaS model to witness steady cloud computing market demand in Europe from 2019 to 2026

The PaaS delivery model is expected to exhibit a growth rate of over 15% from 2019 to 2026 as it provides application software developers with a way to develop and manage the software themselves with application relevant characteristics. By having a middleware in the form of PaaS, organizations require less infrastructure operations and the developer can devote more time for developing valuable software. PaaS is witnessing rapid market adoption due to its extensive use for the development & deployment of cloud applications and enabling developers to create applications with the potential to transform their business and those of their customers.
 

Cost-efficiency and scalability of cloud platforms spurring the adoption among SMEs

Europe Cloud Computing Market Size, By Organization Type, 2015 - 2026 (USD Million)

Get more details on this report - Request Free Sample PDF
 

The SMEs segment is expected to hold a market share of above 30% by 2026. SMEs in the European countries are witnessing an extensive utilization of digital platforms and public cloud services for improving business capabilities which will open new opportunities for the market. The growing awareness of cloud computing among small enterprises is expected to fuel the uptake of cloud platforms to store heterogeneous workloads and reduce operational costs. It is estimated that more than 60% of the SMEs in Western Europe are using cloud-based software which will contribute to the market revenue.
 

Enterprises preferring private cloud model owing to high data security and privacy

The private cloud deployment model is anticipated to grow at a CAGR of over 14% from 2019 to 2026 as this deployment model supports resource provisioning over a private IT infrastructure dedicated to a single organization. Large and small enterprises, particularly in the BFSI and healthcare sectors are preferring private cloud over public cloud as it allows IT staff to quickly deliver on-demand resources in a highly secure manner.
 

Increasing industrial competitiveness in Europe is augmenting the demand for SaaS delivery model

The manufacturing sector will observe rapid growth in the Europe cloud computing market due to the growing use of the SaaS model to provide greater supply chain visibility and improve forecasting accuracy. The industry is rapidly using cloud-based Enterprise Resource Planning (ERP), Supply Chain Management (SCM), and other manufacturing systems to ensure high effectiveness in managing product lifecycles. In April 2018, the German IT firm SAP SE launched its Digital Manufacturing Cloud. The new solution enables manufacturing enterprises to deploy Industry 4.0 solutions via the SAP cloud and provides CRM-ERP integration features. In the sector, the demand for hybrid cloud will rise sharply over the forecast timeline to meet the changing business demands in areas, such as production and supply chain management, helping them to focus on next-generation enterprise applications leveraging Internet of Things (IoT) and big data.
 

Extensive presence of data centers in the UK is promoting the industry growth

The UK cloud computing market held a dominant industry share of above 20% in 2018 and is anticipated to maintain its dominant position by 2026 due to advanced IT infrastructure and growing investments by the cloud service providers to expand their regional presence. For instance, in September 2019, Oracle announced the launch of a dedicated Oracle cloud computing region in the UK. The services are expected to begin by early 2020 and will provide local enterprises with access to all Oracle Cloud Infrastructure services including Oracle Autonomous Database and Oracle Fusion Applications. As the leading data center providers including Microsoft, Google, and AWS have a localized cloud region in London, the cloud computing usage will rise.
 

The Europe cloud computing industry players are focusing on strategic acquisitions and making hefty investments in the European countries to maintain a competitive advantage and increase their Europe cloud computing customer-base. For instance, in October 2018, Alibaba launched two new cloud data centers in London in addition to its existing cloud data center in Germany. This was a part of Alibaba’s strategy to compete with Google and Amazon in the lucrative European cloud computing market. In April 2019, Equinix acquired Switch Datacenter’s Amsterdam data center for USD 34 million. The acquisition helped Equinix augment its offerings in the Europe market, along with being a strategic hub for cloud service providers in the region.
 

Some of the players in the market are Alibaba Group Holding Limited, Amazon Web Services, Inc., CenturyLink, CloudSigma Holding AG, DigitalOcean, LLC, Dimension Data, Fujitsu, Google LLC, Hewlett Packard Enterprise Development LP, IBM Corporation, Microsoft Corporation, Nordcloud, NTT Communications Corporation, Oracle Corporation, OVH, Rackspace, Inc., Salesforce.com, Inc., SAP SE, Tencent Holdings Limited, UpCloud and VMware, Inc.
 

We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies. More info X