Public Cloud Computing, Global Key Players Rank and Market Share, Top 15 Companies Hold 55.20% (2022 (Internet Services - Other Internet Services)
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Public Cloud Computing, Global Key Players Rank and Market Share, Top 15 Companies Hold 55.20% (2022 | |
Public cloud computing is a type of cloud computing where on-demand computing resources and services are shared with multiple organizations and individuals over the internet. Imagine a massive pool of computing power, storage, and software applications like virtual machines, databases, and analytics tools, all accessible through a web interface and shared among various users. According to the new market research report "Global Public Cloud Computing Market Report 2023-2029", published by QYResearch, the global Public Cloud Computing market size is projected to grow from USD 680.19 billion in 2023 to USD 1,353.61 Billion by 2029, at a CAGR of 12.2% during the forecast period. Market Drivers: Increasing Demand for Agility and Scalability: Businesses today operate in dynamic environments, and traditional on-premise infrastructure often struggles to keep pace. Public cloud computing offers the agility and scalability needed to adapt to changing demands quickly and efficiently. Organizations can easily provision and deprovision resources, scale up or down as needed, and experiment with new technologies without significant upfront investments. Cost Optimization and Efficiency: Public cloud computing can lead to significant cost savings compared to on-premise infrastructure. Businesses only pay for the resources they use, eliminating the need for upfront capital expenditures on hardware, software, and IT staff. Additionally, public cloud providers offer economies of scale that can further reduce costs. Enhanced Collaboration and Accessibility: Public cloud computing facilitates collaboration and remote work by providing a centralized platform for accessing applications and data. Teams can work together on projects regardless of their location, and employees can access resources from any device with an internet connection. Restraint: Data breaches and leaks: Public clouds, by their shared nature, are inherently more vulnerable to cyberattacks compared to on-premise infrastructure. A data breach in one organization can potentially affect others within the same cloud environment. Proprietary technologies and APIs: Reliance on specific cloud provider technologies and APIs can make it difficult and costly to migrate to another provider later. Network latency and outages: Public clouds rely on internet connectivity, which can be susceptible to latency issues and outages, impacting application performance and user experience.  | |
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2024-04-29 (0.392 sec)