According to MarketsandMarkets analysis,
The cloud computing market is estimated to grow at a healthy CAGR of 16-17% in the coming 5 years, driven by the rising focus on delivering customer-centric applications for driving customer satisfaction.
North America, Europe, and APAC are expected to be the leading regions in terms of cloud computing adoption, innovation, and development.
There is ~USD 950 Bn potential within cloud computing service models, more than half of which is contributed by Software-as-a-Service.
MHealth, Internet of Medical Things, and remote patient monitoring are driving the growth of cloud computing opportunities in healthcare.
Currently, businesses have low access to primary intelligence to clarify some unknowns and adjacencies in these opportunity areas
Storage automation technologies and usage of AI for storing and managing data in cloud. Blockchain storage structures are being used for cloud storage. Cloud storage will be in demand for storing real-time data feed from sensors and surveillance, medical imaging, data generated from wearables, autonomous vehicle, and V2V communication.
As businesses transitioned from office to remote operations, demand for remote desktop infrastructure and SaaS-based applications, Office 365, G Suite, Dropbox, Slack, Zoom, Salesforce CRM, and other business continuity and disaster recovery solutions surged.
Rise in demand for cloud-based collaboration and business continuity tools and services to support remote workforce. Surge in demand for Container platforms for application dev/dep, smart contract applications on cloud environment.
Emerging use cases – frictionless check-out, conversational AI, virtual fitting room to manage retail operations, with minimal human intervention. Companies are increasingly embracing AI and blockchain-based technologies to fight fraud and identity thefts.
As the effect of the pandemic in April 2020, IBM lowered its prices on bare metal servers across the globe and included up to 20TB of bandwidth with new competitive prices.
Some of the growth problems encountered by cloud computing companies are:
Customer prioritization and assessing unmet needs:
Identify emerging customer preference trends for cloud applications and identify current gaps in market.
What are the disruptions in our clients’ businesses? How can we support them for our own growth?
What are the prominent use cases that would drive the cloud computing market in the next 5 years?
What are the key unmet needs of customers? Who are the key stakeholders in different settings? Do vendor selection criteria differ by settings? Which new product features should be added to the existing products?
Where to play:
Which service model should we focus on? Should it be SaaS, PaaS or IaaS? What are the emerging use cases in the cloud computing ecosystem?
Which regions should we place our bets on? What are the regional specific trends and developments that are shaping the adoption of cloud applications?
What are the key trends that will shape the cloud computing market in the future?
Building a compelling Right-to-Win (RTW):
For M&A, which are the right targets for us? Should we target solution providers or service providers? Should we enter new markets directly or through partners?
How can we differentiate from top players? What is their right-to-win vs ours?
Key uncertainties/perspectives which industry leaders seek answers to:
For cloud computing companies:
What application areas will be relevant and redundant in the next 5 years?
How does the architectural framework/business model/value chain of the edge computing market look like over the coming year?
What are the key differentiators/features we can add in our products to make more lucrative to our customers?
How can companies optimize the manufacturing processes to be more agile and efficient to achieve a more seamless workflow?
What regulatory policies can help strategize and achieve volumetric scale-up?
Which region is the largest in terms of market opportunities now and in the future?
For Companies in Adjacent markets:
What application areas will be relevant and redundant in the next 5 years?
How does the architectural framework/business model/value chain of the edge computing market look like over the coming year?
What are the key differentiators/features we can add in our products to make more lucrative to our customers?
How can companies optimize the manufacturing processes to be more agile and efficient to achieve a more seamless workflow?
What regulatory policies can help strategize and achieve volumetric scale-up?
Which region is the largest in terms of market opportunities now and in the future?
Therefore, MarketsandMarkets research and analysis focuses on high-growth markets and emerging technologies, which will become ~80% of the revenues of cloud computing players from the ecosystem in the next 510 years. It helps find blind spots in clients revenue decisions because of interconnections and unknowns that impacting clients and their clients clients.
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MarketsandMarkets provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 10,000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets for their pain-points around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the “Growth Engagement Model GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
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