The Global Cloud-Enabling Technology Market is expected to register a CAGR of over 8.26%, during the forecast period 2019 – 2024. The growing scope of IoT and big data analytics necessitate better automation for the efficient functioning of business operations and thus the cloud-enabling technology plays a crucial role in proper functioning.
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– The new and advanced cloud technology services allow thousands of customers to use related resources helping companies to decrease their expenses. Cloud enables technology to adjust quickly to the changing landscape and in matching the new needed changes. These factors help the organization to focus on its core competency, which in turn, results in their overall growth. Therefore this acts as a positive outlook on the cloud-enabling technology market.
– Further, the private cloud deployment model is an on-demand configurable supply of shared computing devices allocated within a public cloud environment, providing a sound level of privacy between different organizations that are using the resources and thus fueling the cloud-enabling technology market.
– However, on the flip side, security concerns over data are hindering the growth in this segment. This is expected to be a restraint for this market during the forecasted period.
The cloud-enabling technologies market is highly fragmented and competitive due to the presence of several international. With the increasing number of technological advancements and innovations, mergers and acquisitions and strategic partnership market competition are expected to intensify.
Some of the key players are IBM Corporation, Tata Consultancy Services Limited, Fujitsu Ltd, etc among others.
– June 2018 – IBM and CA Technologies had partnered for product innovation in the cloud and DevOps landscape. With this partnership, it will help organizations clients to develop, test, and monitor applications in the mainframe.
– February 2018 – Cisco and Google collaborated to extend their cloud computing capabilities over the hybrid cloud collaboration. Cisco has further added that the ability to run applications will help preserve the existing infrastructure while extending to cloud services.
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Scope of the Report
Cloud-enabling technologies is the use of computing resources that are delivered to customers with the help of the Internet. Cloud-computing technologies are proliferating across various sectors, such as energy and power, oil and gas, buildings and construction, transport, communication, etc. The rising penetration of automation across various verticals to enhance productivity is the major factor intensifying the need for cloud computing in the market. Further owing to increasing demand for data consumption, data analysis, storage and security, cloud-enabling technologies are further expected to witness tremendous growth potential.
Key Market Trends
Cloud Data Centre to Offer Potential Growth
– Cloud data centers are at the center of modern software technology, serving a critical role in the expanding capabilities for enterprises. With the shift going on from office-based work to working on the move is creating a huge demand for cloud-based data center than the traditional data center.
– Further, businesses today thrive on data. They require information about their customers and habits, their performance, their sales and promotions, the current market they compete in and much more. Through advanced IT services and solutions companies now rely on data center services and cloud computing to support and optimize business applications. In retail specifically, they are generally for one purpose to handle the flow of data.
– With the benefits provided by data centers such as scalability, they can instantly handle the changes in web traffic and engagement to need the needs of the business. With proper configuration, this can happens in the heat of the moment with little to no interruptions to customers and active service. For instance, when Amazon kicked off its Prime Day event, shoppers purchased more than 100 million products from the site. Data centers make such traffic upticks possible, facilitating smooth transactions for customers.
– The above factors contribute to the growth of cloud data centre in different organizations.
North America to Lead the Global Cloud-Enabling Technology Market
– Cloud computing business is projected to witness healthy expansion in the near future in terms of adoption and revenue. Rising investment by the organization in IT infrastructure and cloud services and promotion of Cross Border Privacy Rules (CBPR) by the United States is expected to expand the opportunities for the U.S.
– Further, the higher internet penetration in this region is also likely to accord in the expansion of cloud-based services market in the region which in return will create a market for the cloud-enabling technology market. Over 93% population of Canada have access to the internet and due to strict data policies, the Canadian government is storing data in-country and they are forcing the international and U.S. companies to establish their operations and data center in Canada.
– Moreover, the presence of leading vendors of cloud computing in North America and the growing adoption of personal cloud services by these companies across the globe are supporting the augmentation of North America cloud computing market.
– The growth of cloud computing in North America will supplement the growth of cloud-enabling technologies market and hence North America will dominate the market.
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This post was originally published on The Picayune Current