According to Cloud Computing Statistics, Cloud computing is a technology that enables the delivery of computing resources, such as servers, storage, databases, networking, software, and analytics, over the internet. Instead of owning and maintaining physical infrastructure, individuals and businesses can access and utilize these resources on demand from a cloud service provider.
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- Cloud Computing Market size is expected to be worth around USD 2,321 Billion by 2032
- Worldwide public cloud end-user spending to reach nearly $600 billion in 2023.
- As of 2022, the top three public cloud service providers are Amazon Web Services (AWS) with a market share of approximately 31%, Microsoft Azure with 20%, and Google Cloud Platform (GCP) with 9%.
- According to a survey, 94% of enterprises use the cloud in some capacity, with 83% adopting a multi-cloud strategy.
- In 2022, the worldwide public cloud services market generated revenues of $312 billion, representing a 24.1% increase from the previous year.
- The most significant cloud computing security concern is data breaches, with 68% of organizations listing it as a top worry.
- By 2023, it is estimated that 67% of enterprise infrastructure will be cloud-based, up from 10% in 2015.
Market Share of Top Public Cloud Service Providers as of 2022
Growth of the Cloud Computing Market
- The Global Cloud Computing Market size is expected to be worth around USD 2,321 Billion by 2032 from USD 546.1 Billion in 2022, growing at a CAGR of 16% during the forecast period from 2022 to 2032.
- Worldwide spending on public cloud services is forecasted to reach $1.1 trillion in 2022, representing a 23.1% increase from the previous year.
- Global spending on Infrastructure as a Service (IaaS) is expected to reach $106 billion in 2022, up from $39.5 billion in 2019.
- 94% of enterprises are using the cloud in some capacity.
- 83% of enterprise workloads will be in the cloud by 2023.
- Amazon Web Services (AWS) is the leading public cloud service provider, holding around 32% of the global market share.
- Microsoft Azure is the second-largest public cloud provider, with a market share of around 20%.
- In Q1 2021, public cloud revenue exceeded $40 billion, representing a year-over-year growth of 35%.
- The public cloud services market is estimated to grow by 23.1% in 2022, reaching $397.4 billion.
Public Cloud Statistics
- The global public cloud services market is projected to reach $623.3 billion in 2023, with a compound annual growth rate (CAGR) of 16.7% from 2018 to 2023.
- In 2020, the public cloud market size was estimated at $257.5 billion, representing a year-over-year growth of 6%.
- According to a survey by Flexera, 94% of organizations are using the public cloud in some form.
- The most common public cloud use cases include application hosting (66%), website hosting (62%), and storage and backup (62%).
- Organizations that migrate to the public cloud can achieve cost savings of 15% to 50% on average compared to traditional on-premises infrastructure.
- Containers and container orchestration platforms, such as Docker and Kubernetes, are widely used in the public cloud environment. In 2021, 83% of organizations reported using containers, and 77% used container orchestration.