The cloud computing market size is estimated to grow from US$ 405,295.8 million in 2022 to US$ 1,465,818.2 million by 2028; it is expected to register a CAGR of 23.9% from 2022 to 2028.
Analyst Perspective
The cloud computing market has witnessed significant growth in recent years, driven by the growing adoption of cloud computing among industries such as BFSI, IT, healthcare, government, and media. Growing implementation of 5G networks and technologies is boosting the cloud computing market growth during the forecast period. Rising digital transformation across the business and increasing mobile network adoption are anticipated to boost the market. Moreover, technological advancement, the growing use of IoT-connected devices, and the incorporation of artificial intelligence (AI), machine learning (ML), and big data technologies are creating opportunities in the market. However, increasing private and government investments in the adoption of cloud technologies are generating significant market growth opportunities during the forecast period.
Market Overview
Cloud computing refers to the on-demand delivery of IT services over the Internet at a pay-per-use (P2P) rate. Cloud computing allows the user to access technology services such as computing, storing, software, analytics, networking, intelligence, and databases. The technology offers significant benefits to the user including agility, cost-saving, elasticity, and productivity, among others, which increases its adoption among businesses across the globe. Cloud computing has become a crucial part of modern business operations due to its versatility, which has increased its rapid adoption across various industries, including BFSI, IT, healthcare, and others. Growing adoption of cloud storage services like Microsoft Azure Blob Storage, Amazon S3, and Google Cloud Storage drives the cloud computing market. These storage services provide security and scalability for storing all types, including documents, files, videos, and images, by eliminating the need for businesses to invest in on-premises storage infrastructure. These factors are anticipated to drive the cloud computing market during the forecast period.
Customize This Report To Suit Your Requirement
You will get customization on any report - free of charge - including parts of this report, or country-level analysis, Excel Data pack, as well as avail great offers and discounts for start-ups & universities
Cloud Computing Market: Strategic Insights

- Get Top Key Market Trends of this report.This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.
Customize This Report To Suit Your Requirement
You will get customization on any report - free of charge - including parts of this report, or country-level analysis, Excel Data pack, as well as avail great offers and discounts for start-ups & universities
Cloud Computing Market: Strategic Insights

- Get Top Key Market Trends of this report.This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.
Market Driver
Growing Adoption of Cloud Technologies Among Businesses is Driving the Market
The increasing integration of cloud technologies across business operations is a pivotal factor fueling the growth of the global cloud computing market. Organizations across sectors are embracing digital transformation initiatives to enhance agility, scalability, and operational efficiency. Central to these efforts is the transition from traditional IT infrastructures to cloud-based environments. This shift enables enterprises to modernize legacy systems, streamline internal workflows, and support remote and hybrid work models. Cloud computing serves as a foundational enabler of next-generation digital services, offering embedded intelligence, seamless connectivity, and the flexibility to adapt to rapidly changing business needs. Unlike conventional models that rely heavily on physical infrastructure, cloud platforms offer scalable solutions that include Infrastructure-as-a-Service (IaaS), Platform-as-a-Service (PaaS), and Software-as-a-Service (SaaS). These services facilitate the automation of business processes, enhance cybersecurity protocols, and ensure business continuity through advanced data backup and disaster recovery systems. Businesses are increasingly leveraging multi-cloud and hybrid cloud strategies to optimize performance, manage costs, and ensure data sovereignty. Large enterprises, in particular, are adopting cloud-native architectures to support cross-functional teams, centralize data access, and manage complex workloads across geographically dispersed locations. According to the Flexera 2023 State of the Cloud Report, 75% of enterprises reported using Microsoft Azure, followed closely by Amazon Web Services (AWS) and Google Cloud, highlighting a competitive and mature cloud ecosystem. Moreover, partnerships and collaborations are further accelerating cloud adoption. For example, in February 2022, TecCentric and OmniClouds partnered to help businesses modernize their legacy internet infrastructure and migrate to cloud-based network systems, offering increased reliability and performance. Continued advancements in AI integration, edge computing, and serverless architectures are expected to reinforce the strategic importance of cloud computing. As companies seek to remain competitive and resilient in an increasingly digital economy, cloud adoption will remain a core driver of innovation, cost efficiency, and business agility.
Segmental Analysis
Based on deployment, the cloud computing market is segmented into public cloud, private cloud, and hybrid cloud. The hybrid cloud segment is projected to expand during the forecast period due to increased adoption among businesses across the globe. Hybrid cloud is an IT architecture that allows organizations to take advantage of and benefit from private and public clouds, such as incorporating workload portability, orchestration, and managing two or more environments. Hybrid cloud provides combined benefits of private and public clouds, including greater flexibility, scalability, and optimization of resources, which increases its adoption among businesses and drives the market. A hybrid cloud enables organizations to move applications and workloads between private and public clouds based on specific needs. This flexibility is valuable for managing different demands by optimizing business costs and fueling segment growth. A hybrid cloud provides the capability to have redundant and backup systems across different environments. In case of a failure or disaster in one location, workloads can be shifted to another environment, ensuring business continuity drives the market. A hybrid cloud allows organizations to optimize costs by choosing the most cost-effective platform for each workload. It also enables a pay-as-you-go model for resources consumed from public clouds, increasing business adoption.
Regional Analysis:
The market in Asia Pacific is expected to dominate in the near future owing to the growing adoption of advanced technologies such as AI, 5G, IoT, and edge computing across industries that drive the cloud computing market. Rising population, increasing government support, and growing investment from private sectors increase the adoption of new technologies by fueling the market. Moreover, growing adoption of public cloud services bolsters the cloud computing market in the region.
Many countries are implementing cloud computing technologies across industries such as BFSI, healthcare, education, manufacturing, and retail. For instance, in September 2022, Google LLC partnered with the National Association of Software and Service Companies (NASSCOM) to launch new cloud computing courses in India. This partnership increases demand for cloud computing in the educational industry and allows students to learn various advanced technology concepts including cloud basics, cloud computing, machine learning, and big data. The cloud computing market in Japan is projected to expand at a significant CAGR during the forecast period, development in the ICT sector and rising adoption of advanced technologies such as SDN, AI, IoT, and LTE. Expanding public cloud technologies encourage enterprises to shift their core applications to the cloud platform, which drives the market. Australia's cloud computing market is expected to grow soon due to increasing government support for adopting cloud-based technologies. The availability of cutting-edge and dependable cloud infrastructure is boosting the market in Australia. Most MSPs in Australia are assisting businesses in navigating different cloud options and moving their current workloads across several cloud environments, contributing to the adopting of the multi-cloud strategy in the country.
Key Player Analysis:
The cloud computing market analysis consists of players such as Amazon Web Services, Inc.; Microsoft Corp; Google LLC; Alibaba Group Holding Ltd; International Business Machines Corp; Salesforce Inc; Oracle Corp; SAP SE; Adobe Inc; and Workday Inc are among the key cloud computing market players profiled in the report.
Cloud Computing Market Regional Insights
The regional trends and factors influencing the Cloud Computing Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Cloud Computing Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

- Get the Regional Specific Data for Cloud Computing Market
Cloud Computing Market Report Scope
Report Attribute | Details |
---|---|
Market size in 2022 | US$ 405.3 Billion |
Market Size by 2028 | US$ 1465.82 Billion |
Global CAGR (2022 - 2028) | 23.9% |
Historical Data | 2020-2021 |
Forecast period | 2023-2028 |
Segments Covered |
By Service
|
Regions and Countries Covered | North America
|
Market leaders and key company profiles |
Cloud Computing Market Players Density: Understanding Its Impact on Business Dynamics
The Cloud Computing Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Cloud Computing Market are:
- Amazon Web Services
- Microsoft Corporation
- SAP SE
- IBM Corporation
- Salesforce.com, inc.
Disclaimer: The companies listed above are not ranked in any particular order.

- Get the Cloud Computing Market top key players overview
Recent Developments:
Inorganic and organic strategies such as mergers and acquisitions are highly adopted by companies in the cloud computing market. A few recent key market developments are listed below:
- In October 2023, British Telecommunications plc partnered with Google LLC to launch a new relationship centered on expanding innovation in cybersecurity applications. This partnership helps companies to serve private and public organizations in over 180 countries across the globe. British Telecommunications plc manages service delivery for Google’s Autonomic Security Operations (ASO) product.
- In June 2023, International Business Machines Corp acquired Agyla SAS to extend its localized cloud expertise in France. The acquisition supports International Business Machines Corp in broadening its hybrid multi-cloud services portfolio by enhancing the region's hybrid cloud and AI services.
- In February 2023, Tech Data launched cloud services for its customers in Australia. The company provides customized offerings for AWS and Microsoft’s Platform as a Service and Infrastructure as a Service business models.
- In February 2023, Akamai Technologies, Inc. introduced the Akamai Connected Cloud platform for content delivery, cloud computing, and security to protect applications against threats.
- In February 2023, Reply S.p.A. partnered with Amazon Web Services, Inc. to expand Storm Reply solution in North America. The partnership helps Reply S.p.A. offer and implement its cloud-based Storm Reply solution in its clients' businesses at the global level.
- In January 2023, Alibaba Group Holding Ltd unveiled the Apsara Developer Community to increase its offering of various developer tools and services. The community is a new center developed to support software developers by facilitating the advancement of the digital economy worldwide.
Frequently Asked Questions
What will be the global market size for the Cloud Computing market by 2028?
The global Cloud Computing market size is projected to reach US$ 1465818.2 Mn by 2028.
Which is the fastest growing regional market?
APAC is the fastest-growing regional market in the global Cloud Computing market in 2022.
What is the estimated global market size for the Cloud Computing market in 2022?
The global Cloud Computing market was valued at US$ 405295.8 Mn in 2022.
What are the driving factors impacting the global Cloud Computing market?
The driving factors impacting the Cloud Computing market are
I. COVID-19 Outbreak Fuels Demand for Cloud-based Solutions
II. Cost optimization Drives Cloud Uptake
What are the future trends of the Cloud Computing market?
The Future trends impacting the Cloud Computing market are Acceptance of Cloud Solutions as Mainstream IT Deployment Option
Which countries are registering a high growth rate during the forecast period?
US, UK, India, South Africa, and Brazil are the countries are registering a high growth rate during the forecast period.
Which is the leading deployment model segment in the Cloud Computing market?
The public cloud segment led the Cloud Computing in 2022.
Which are the key players holding the major market share of Cloud Computing market?
The key players holding the major market share of Cloud Computing are Amazon Web Services; Microsoft Corporation; IBM Corporation; Google LLC; Alibaba Group Holding Limited; SAP SE; Salesforce.com, inc.; Oracle Corporation; Adobe; and Workday, Inc.
What is the incremental growth of the Cloud Computing market during the forecast period?
The incremental growth of the Cloud Computing market during the forecast period is US$ 1060522.37 million with a CAGR of 23.9%
- Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
- PEST and SWOT Analysis
- Market Size Value / Volume - Global, Regional, Country
- Industry and Competitive Landscape
- Excel Dataset
- Parking Meter Apps Market
- eSIM Market
- Advanced Distributed Management System Market
- Online Exam Proctoring Market
- Electronic Data Interchange Market
- Barcode Software Market
- Maritime Analytics Market
- Cloud Manufacturing Execution System (MES) Market
- Robotic Process Automation Market
- Digital Signature Market
Testimonials

I wish to appreciate your support and the professionalism you displayed in the course of attending to my request for information regarding to infectious disease IVD market in Nigeria. I appreciate your patience, your guidance, and the fact that you were willing to offer a discount, which eventually made it possible for us to close a deal. I look forward to engaging The Insight Partners in the future, all thanks to the impression you have created in me as a result of this first encounter.
DR CHIJIOKE ONYIA, MANAGING DIRECTOR, PineCrest Healthcare Ltd.
The Insight Partners delivered insightful, well-structured market research with strong domain expertise. Their team was professional and responsive throughout. The user-friendly website made accessing industry reports seamless. We highly recommend them for reliable, high-quality research services
Yukihiko Adachi CEO, Deep Blue, LLC.Reason to Buy
- Informed Decision-Making
- Understanding Market Dynamics
- Competitive Analysis
- Customer Insights
- Market Forecasts
- Risk Mitigation
- Strategic Planning
- Investment Justification
- Identifying Emerging Markets
- Enhancing Marketing Strategies
- Boosting Operational Efficiency
- Tracking Industry Innovations
- Aligning with Regulatory Trends
Yes! We provide a free sample of the report, which includes Report Scope (Table of Contents), report structure, and selected insights to help you assess the value of the full report. Please click on the "Download Sample" button or contact us to receive your copy.
Absolutely — analyst assistance is part of the package. You can connect with our analyst post-purchase to clarify report insights, methodology or discuss how the findings apply to your business needs.
Once your order is successfully placed, you will receive a confirmation email along with your invoice.
• For published reports: You’ll receive access to the report within 4–6 working hours via a secured email sent to your email.
• For upcoming reports: Your order will be recorded as a pre-booking. Our team will share the estimated release date and keep you informed of any updates. As soon as the report is published, it will be delivered to your registered email.
We offer customization options to align the report with your specific objectives. Whether you need deeper insights into a particular region, industry segment, competitor analysis, or data cut, our research team can tailor the report accordingly. Please share your requirements with us, and we’ll be happy to provide a customized proposal or scope.
The report is available in either PDF format or as an Excel dataset, depending on the license you choose.
The PDF version provides the full analysis and visuals in a ready-to-read format. The Excel dataset includes all underlying data tables for easy manipulation and further analysis.
Please review the license options at checkout or contact us to confirm which formats are included with your purchase.
Our payment process is fully secure and PCI-DSS compliant.
We use trusted and encrypted payment gateways to ensure that all transactions are protected with industry-standard SSL encryption. Your payment details are never stored on our servers and are handled securely by certified third-party processors.
You can make your purchase with confidence, knowing your personal and financial information is safe with us.
Yes, we do offer special pricing for bulk purchases.
If you're interested in purchasing multiple reports, we’re happy to provide a customized bundle offer or volume-based discount tailored to your needs. Please contact our sales team with the list of reports you’re considering, and we’ll share a personalized quote.
Yes, absolutely.
Our team is available to help you make an informed decision. Whether you have questions about the report’s scope, methodology, customization options, or which license suits you best, we’re here to assist. Please reach out to us at sales@theinsightpartners.com, and one of our representatives will get in touch promptly.
Yes, a billing invoice will be automatically generated and sent to your registered email upon successful completion of your purchase.
If you need the invoice in a specific format or require additional details (such as company name, GST, or VAT information), feel free to contact us, and we’ll be happy to assist.
Yes, certainly.
If you encounter any difficulties accessing or receiving your report, our support team is ready to assist you. Simply reach out to us via email or live chat with your order information, and we’ll ensure the issue is resolved quickly so you can access your report without interruption.















The List of Companies - Cloud Computing Market
- Amazon Web Services
- Microsoft Corporation
- SAP SE
- IBM Corporation
- Salesforce.com, inc.
- Google LLC
- Oracle Corporation
- Alibaba Group Holding Limited
- Adobe
- Workday, Inc.


