“The Cloud Revolution in the Making”: Global Cloud Service Market on track to exceed $600 Bn by 2027: Ken Research REQUEST FOR SAMPLE REPORT Buy Now Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit Global Cloud Service Market was valued at around ~$300 Bn in 2022, and is eyeing to become a $ 600 billion industry by 2027. Here are some of the major factors suggesting the same. 1. Software as a Service (SaaS) drives explosive growth in the Global Cloud Service Market. To Know More about this report, download a Free Sample Report Software as a Service (SaaS) has become a key driver for the global cloud Service Market, with businesses of all sizes leveraging SaaS Solutions to optimize their operations, reduce cost and improve agility. According to a survey, 73% of the enterprises say that nearly all of their application will be SaaS by 2021. Overall, the affordability, ease of adoption, flexibility and scalability of SaaS solutions are driving the popularity in the Global Clouds Service Market. 2. Billion Dollar Bet – Microsoft, Google and Amazon increase investment in the Cloud Service Market. In 2020, Microsoft announced that it would invest $1 Billion in OpenAI, an artificial intelligence firm, to develop new AI capabilities for Azure. Similarly, Amazon announced that it would invest $2 Billion in India to expand its cloud services business. Furthermore, Google also announced to invest $10 billion in India over the next 5 to 7 years to expand its cloud service business in the country. Venture Capitalists are also investing in the cloud services. For instance, in 2020, snowflake, a cloud-based data warehousing company, went public and raised $3.4 billion in its initial public offering. This was one of the largest IPOs for a cloud service company in the history. 3. The Boundary Between Public and Private Clouds is Blurred with Hybrid Cloud Visit This link Request for Custom Report Today, major cloud providers such as Microsoft, Amazon, and IBM are extending their use of “hybrid” models that combine the best of both worlds (Private as well as Public). Data that must be accessible quickly and frequently, such as by customers, can be stored on public AWS or Azure servers and accessed via tools, apps, and dashboards. Data that is more confidential or mission-critical can be stored on private servers with access controlled and processed using proprietary programs. According to a survey by IDG, more than 90% of respondents reported using some form of hybrid cloud infrastructure. Hybrid Clouds are fueling growth in global cloud service market as they very agile, easily scalable and cost effective. 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