Portland, OR -- (SBWIRE) -- 07/27/2017 -- Cloud Computing is the practice of sharing a network of remote servers which are hosted on the Internet to store, process, and manage data rather than on a local server or a personal computer. It specifically refers to a common storage space through which all the devices in the network can access data simultaneously. The use of Cloud computing technology not only gives cost benefits but also makes applications accessible to all devices in the network at any time and from any location.

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The global storage market has recorded revenues of $9.12 billion in 2012 with the growth rate of 16.7% as compared to the revenues in 2011. The major driver for the growth of global cloud computing market is its cost effective services. It has been estimated that an organization can save more than 35% of the annual cost by adopting cloud computing technology.

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However, data security is the key restrain for the growth of cloud computing market as organizations believe that their data is more secure in the in-house data centers rather than on a virtual cloud network. Especially, the small and medium scale organizations are more skeptical about cloud technology, which leads to low adoption rate of the technology. The biggest challenge for the growth in the adoption rate of the cloud computing technology is to increase the awareness about its security aspects.

The giants involved in the most promising cloud computing market can be listed as Amazon Web Services, Akamai Technologies, Cisco Systems, Google Inc., IBM Corp, Hewlett Packet, Dell, Microsoft Corp., VM-Ware and Yahoo Inc.

Cloud Computing Technology Market Analysis by Services

The major services provided by cloud computing technology are Infrastructure as a Service (IaaS), Platform as a Service (PaaS), and Software as a Service (SaaS). IaaS is most basic cloud computing model which provides physical or virtual machines and other resources. PaaS cloud providers deliver a computing platform such as operating system. Finally, SaaS cloud provides access to application software and databases.

High Level Analysis

Report gives an overall view of the global cloud computing market. The global market is analyzed using Porter's five force model and SWOT analysis. This analysis helps in visualization of strategies used by various players in the global cloud computing market. Drivers enabling the growth of cloud market, limiting factors and opportunities for the same are strategically dealt in this report. The various stakeholders involved in the value chain are thoroughly examined.

KEY DELIVERABLES

The global cloud computing technology market is segregated based on Services, Types and Geographies.

CLOUD COMPUTING SERVICES MARKET SEGMENTS

MARKET BY SERVICES

- Infrastructure as a Service (IaaS)
- Platform as a Service (PaaS)
- Software as a Service (SaaS)

MARKET BY TYPE

- Public Cloud
- Private Cloud
- Hybrid Cloud
- Community Cloud

MARKET BY GEOGRAPHY

- North America
- Europe
- Asia-Pacific
- RoW