Public Cloud Application Services Market: North America to remain the most lucrative market throughout the forecast period: Global Industry Analysis (2012-2016) & Opportunity Assessment (2017-2022)
Valley Cottage, NY -- (SBWIRE) -- 09/15/2017 -- The public cloud application infrastructure service market is gaining huge popularity throughout the world. This is evident due to the recent shift in enterprise business models that have now adopted cloud based services to revolutionize the concept of flexibility of infrastructure. Cloud computing is making rapid inroads and majority of companies are adopting the cloud model. This is because of the various advantages that the cloud model brings such as simple management of IT infrastructure and the ability to use third party applications that are not present in the company's own firewall. Increased security is another aspect of cloud infrastructure and this enables protected access easy, even remotely. The public cloud has increased business agility and speed. This has enabled the growth of the Infrastructure as a Service (IaaS) and is transforming the enterprise IT value chain for the better.
The global Public cloud application infrastructure services market is slated to touch a value of nearly US$ 22,215 Mn in the year 2022 and grow at a robust CAGR during the assessment period.
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Forecast Highlights on Global Public Cloud Application Infrastructure Services Market
As per the forecast of Future Market Insights, the business intelligence platform segment is slated to touch a value of nearly US$ 3,200 Mn in the year 2022. This represents a robust CAGR growth during the assessment period of 2017-2022. The business intelligence platform segment is estimated to account for nearly one-fifth of the revenue share of the application segment by the year 2017 end and is expected to lose in market share by the year 2022 end.
As per the forecast of Future Market Insights, the BFSI segment will reach a value of nearly US$ 1,610 Mn in the year 2017. This represents a robust CAGR growth during the forecast period. The BFSI segment is estimated to account for more than one-fourth of the revenue share of the vertical segment in the year 2017 end and is expected to gain market share by the end of the year 2022.
As per the forecast of Future Market Insights, the data services segment is slated to reach a value of nearly US$ 9,210 Mn in 2022. The data services segment is expected to gain market share by the end of the year 2022. The largest share is contributed by the North America region in the data services segment.
Future Market Insights forecasts the US public cloud application infrastructure services market to grow from nearly US$ 1,835 Mn in 2017 to nearly US$ 6,505 Mn in 2022. This represents a compound annual growth rate (CAGR) of 28.8% from 2017 to 2022.
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The report has also profiled leading players in the global market for public cloud application infrastructure services, which will remain active through 2022. These include companies such as Alphabet, Inc., Salesforce.com, Inc., Oracle Corp., Amazon Web Services Inc., Microsoft Corporation, Red Hat, Inc., International Business Machines Corp., VMware, Inc., ServiceNow, Inc. and NetSuite, Inc.
For further insights into the global public cloud application infrastructure services market, write in to Future Market Insights analysts at email@example.com