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The Cloud Professional Services Market size is estimated to grow at a CAGR of 15.88% between 2022 and 2027. The market size is forecast to increase by USD 23.15 billion. The growth of the market depends on several factors, including the digital transformation of end-user industries, the increased adoption of cloud professional services by retail and e-commerce, and the rising investment in technology by end-users. Cloud professional services are the range of services provided by experts to help organizations plan, implement, and manage their cloud computing strategies and solutions. These services are typically offered by consulting firms, technology vendors, and managed service providers.
This cloud professional services market report extensively covers market segmentation by deployment (public cloud and private cloud), end-user (large enterprises, small, and medium-sized enterprises (SMEs)), and geography (North America, Europe, APAC, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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One of the key factors driving the cloud professional services market growth is the digital transformation of end-user industries. There is a significant digital transformation across organizations in order to modernize their operations, processes, and customer experiences. There is an increasing adoption of cloud professional services across enterprises as it plays a major role in helping businesses adopt cloud technologies as part of their transformation initiatives.
Moreover, the main advantage of adopting cloud professional services is that it offers the agility and infrastructure required to quickly develop and deploy innovative solutions. Furthermore, as there is increasing digitization across industries, they require scalable solutions to handle varying workloads and increased demand. Therefore the adoption of cloud professional services facilitates cloud platforms to provide elastic scalability, enabling organizations to scale resources up or down as required. Hence, such factors are expected to drive market growth during the forecast period.
A key factor shaping the cloud professional services market growth is the increasing popularity of private cloud services. There is a growing popularity of private cloud services among enterprises as they are essentially cloud computing resources and infrastructure that are dedicated to a single organization, offering similar benefits as public cloud services but within a more controlled and isolated environment. VMware, IBM, Microsoft, and Oracle are some of the prominent private cloud service providers. In addition, private clouds are specially designed for the exclusive use of a single organization unlike public clouds, which are shared by multiple organizations.
Moreover, the main advantage of private cloud services is that they offer enhanced security and customization. Additionally, it provides greater control for the organization over its data, applications, and security policies. Therefore, there is an increasing adoption of private cloud services across industries with strict regulatory compliance requirements, such as healthcare or finance. Hence, such factors are positively impacting the market which in turn will drive the market growth during the forecast period.
Security concerns regarding cloud services are one of the key challenges hindering the cloud professional services market growth. There is growing concern regarding the security offered by cloud professional services as it can significantly impact the confidentiality, integrity, and availability of data and applications in cloud environments. Some of the top concerns of cloud professional services across enterprises include data breaches, compliance issues, and security vulnerabilities.
Moreover, there is an increasing need for specialized expertise to ensure robust security measures and compliance with industry standards. As public cloud environments are often multi-tenant; multiple customers share the same infrastructure, there is a high chance of data breaches and isolation vulnerabilities across the tenants. Hence such factors are negatively impacting the market. Therefore, it is expected to hinder the market growth during the forecast period.
The public cloud segment is estimated to witness significant growth during the forecast period. The public cloud professional services segment comprises offerings provided by cloud service providers or third-party consulting firms to help enterprises to make the most of their utilization of public cloud platforms. There is an increasing demand for the public cloud segment due to the numerous benefits and advantages it offers to organizations.
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The public cloud segment was the largest segment and was valued at USD 6.82 billion in 2017. Additionally, this segment comprises a broad solution and support designed to assist organizations in adopting, implementing, managing, and optimizing their use of public cloud resources. The main purpose of public cloud professionals is that they assist with setting up and deploying resources on the specific cloud platform. Some of these processes include provisioning virtual machines, containers, storage, databases, and networking components. Hence, the increasing demand for the public cloud segment across enterprises will fuel the growth of this segment which in turn will drive the market growth during the forecast period.
The increasing digitization across large enterprise segments will increase market growth. There is a significant digital transformation across several industries in order to modernize their IT infrastructure, applications, and business processes. In addition, there is an increasing adoption of cloud services across enterprises as they offer the agility and scalability needed to support digital initiatives and stay competitive in the market. The main factor that is fuelling the demand for cloud professional services across large enterprise segment is that this segment experience fluctuating workloads and increased demand during peak periods public cloud platforms offers the scalability needed to handle these variations, and cloud professional services can optimize this scalability for efficiency and cost-effectiveness. Hence, such factors are fuelling the growth of this segment which in turn will drive the market growth during the forecast period.
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North America is estimated to contribute 37% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. There is an increasing adoption of professional cloud services across enterprises in North America as it enables market players to scale, innovate, and optimize their operations. Professional cloud services comprise a broad range of offerings that enable enterprises to plan, implement, and manage their cloud strategies.
In addition, there is a significant transition of IT infrastructure and applications of several enterprises to the cloud to utilize its benefits, such as scalability, cost-efficiency, flexibility, and improved collaboration. Therefore, prominent companies in North America are leveraging cloud solutions to modernize their operations, streamline processes, and improve customer experience. Hence, such factors are significantly driving the market growth in the region during the forecast period.
In 2020, during the COVID-19 pandemic, the growth of the global cloud professional services market witnessed significant growth due to the accelerated adoption of cloud services as businesses rapidly shifted to remote work and digital operations in North America. However, in 2021, the initiation of large-scale vaccination drives lifted the lockdown and travel restrictions, which led to the restoration of operations in organizations. Such factors are expected to drive the market during the forecast period.
The cloud professional services market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Cloud Professional Services Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Accenture Plc: The company offers cloud professional services such as cloud services which include Data and AI, application transformation, Cloud Infrastructure, and network.
AT and T Inc: The company offers cloud professional services such as high-speed connectivity and collaboration, cloud transformation, safer to innovate, consulting expertise, and reliable and secure mobile communications.
Capgemini Service SAS: The company offers cloud professional services such as advanced cloud technologies for customers, enterprise management, and intelligent industry.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The cloud professional services market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Cloud Professional Services Market Scope |
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Report Coverage |
Details |
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Page number |
160 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 15.88% |
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Market growth 2023-2027 |
USD 23.15 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
14.87 |
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Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
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Performing market contribution |
North America at 37% |
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Key countries |
US, Canada, China, UK, and Germany |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Accenture Plc, AT and T Inc., Capgemini Service SAS, Cisco Systems Inc., Cloud Software Group Inc., Cognizant Technology Solutions Corp., Dell Technologies Inc., Deloitte Touche Tohmatsu Ltd., Deutsche Telekom AG, Furukawa Electric Co. Ltd., Informatica Inc., Infosys Ltd., Microsoft Corp., Nippon Telegraph and Telephone Corp., Oracle Corp., SAP SE, Tata Consultancy Services Ltd., Unisys Corp., Verizon Communications Inc., and Wipro Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Deployment
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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