Albany, NY -- (SBWIRE) -- 03/29/2019 -- Public cloud application services market is experiencing a robust growth all over the world. The chief reason regarding this are the facilities and ease of operations that are facilitated by the adoption of cloud computing. Public cloud computing utilizes cloud computing technologies to give services and support customers that are external to the service provider's organization. Such services are gained via the World Wide Web and are different from a private cloud where services are set up for only the internal use of any organization. There are many reasons why companies are now opting for public cloud. Fastest access to novel resources related to computing is one of the main advantages of using a public cloud. Public cloud services are also scalable, and it allows the companies to scale up their usage as the demand for services surges. Public cloud services are generally more dependable than in-house data centres. Public cloud also offers the advantage of cost savings, as companies only have to get those type of resources which they need at that particular point of time and don't have to opt for excess capacity. Accessing public cloud services allows companies to opt for a workforce that is mobile in the true sense and to connect branches that are situated in diverse geographical regions, since the public cloud services can be accessed through the internet. Due to such benefits of public cloud computing, the market for the same is growing leap and bounds.

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A public cloud is a type of cloud computing service that provides resources such as virtual machines (VMs), applications or storage services available to general public through the internet. Public cloud application services may be offered for free or on a pay-per-usage model.

As per the assessment, the global public cloud application services market is forecasted to reach a figure of about US$ 130,550 Mn in 2022 and is poised to exhibit a robust CAGR in the period of assessment.

North America Market Set to Dominate the Global Public Cloud Application Services Market in Terms of Revenue

The market in North America is set to dominate the global public cloud application services market in terms of value and this trend is projected to sustain itself throughout the assessment period. North America public cloud application services market is the most attractive market, growing at a robust CAGR over the forecast period.

Business Intelligence Application Segment Poised to Touch a Value of Nearly US$ 6,730 Mn in 2022

The business intelligence application segment is expected to reach a value of nearly US$ 6,730 Mn in the year 2022. This represents a robust CAGR during the assessment period of 2017-2022.The business intelligence application segment is expected to have a reduced market share by the end of the year 2022.

Government Segment to exhibit a CAGR of 19.4% During the Assessment Period

As per the assessment, the government segment is slated to touch a figure of about US$ 15,500 Mn in the year 2022. This represents a CAGR of 19.4% during the assessment period from 2017 till the year 2022. This segment is expected to lose market share by the end of the year 2022.

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Competition Tracking

The report also profiles companies that are expected to remain active in the expansion of global public cloud application services market through 2022, which include Amazon Web Services Inc., Alphabet, Inc., International Business Machines Corp., Microsoft Corporation, Oracle Corp., NetSuite, Inc., Salesforce.com, Inc., Adobe Systems, Inc., SAP SE and Cisco Systems, Inc.

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