More than 140 billion dollars of European cloud computing market by 2028
Global Market Insights added a report on the European cloud computing market, which estimates that market valuations will exceed $ 140 billion by 2028, with government support to promote cloud adoption in Europe.
The increasing use of cloud computing in multiple organizations to ensure business continuity and adaptability to market changes to maintain a competitive advantage over competitors is driving industry growth Can be done.
The increasing digitization trend observed by organizations when migrating to cloud-based services is also driving demand in the European cloud computing market. Leading companies are developing innovative solutions and services for their customers, focusing on new technologies such as mobile cloud computing and edge computing.
Constantly growing IaaS segment
The· IaaS The segment is expected to grow at a CAGR of over 15% from 2021 to 2028. Due to its flexibility and scalability, IaaS plays a key role in enterprises at the enterprise level and is well suited to changing business needs. IT workloads.
Companies are increasingly migrating to the IaaS model due to its ease of use, reduced compute time, and cost efficiency. The Pay-As-You-Go (PAYG) feature eliminates the cost of deploying your internal infrastructure and helps grow your IaaS model.
SMEs are expected to hold more than 30% market share by 2028. Growth is due to growth Adoption of cloud technology By SMEs to improve business capabilities. SME focuses on protecting networks for secure access to data and migrating core businesses to digital platforms to protect their businesses.
The benefits of cloud computing, such as remote computing, cost savings and the availability of on-demand computing resources, are key factors in the adoption of cloud computing by SMEs in Europe.
Private clouds are expected to grow exponentially over the forecast period. Several organizations accept private cloud Cloud for a high level of security And data privacy. Government agencies, BFSI companies, and organizations with critical data, such as military installations and nuclear power plants, use private cloud solutions to take control of their data and protect their critical data. This should create a lot of opportunities for private clouds.
The retail sector is expected to represent more than 10% of the European cloud computing market in 2020. This growth is due to the growing demand for online shopping and the dynamic evolution of consumer buying habits. The digital transformation at retail is accelerating, with retailers focusing on increasing IT spending to detect fraud and protect payment channels.
Italy is growing significantly in the European cloud computing market
Italy is expected to experience significant growth in the European cloud computing market with a CAGR of over 15% during the forecast period. This growth is driven by the increased adoption of cloud computing solutions and services by SMEs and other industries. The existence of multinational companies and their significant investments are expected to support the growth of the market. For example, in May 2020, Microsoft invested $ 1.5 billion in Italian cloud computing services. This investment aims to provide cloud services to SMEs and other business units.
As part of a five-year strategic plan, the company will also provide access to local cloud services and launch digital skills, smart work and artificial intelligence (AI) programs for small businesses.
Companies operating in the market are focused on accelerating cloud adoption in collaboration with governments and public authorities. For example, in January 2021, CloudSigma announced Open Clouds for the Research Environments (OCHER) Business. This project aims to accelerate the adoption of the cloud in the European research community. It will also help the company to expand its presence across Europe and generate new sources of income.