The Cloud Computing industry is a combination of many stand alone sub segments. Each aspect of the Cloud has a very specific target market which brings in obvious benefits such as flexibility, agility and cost efficiency to that segment.
During the Covid-19 pandemic, the Cloud industry has been at the forefront of enabling businesses all over the globe to continue mission critical operations remotely. As a result, the demand for cloud computing services has skyrocketed over the past few months.
Let’s briefly recap some of the major growth figures and projections for various cloud services. In 2020, the market for public cloud services is expected to grow by over 6%. With this growth rate, the total size of this cloud segment would reach US $258 BN.
One reason behind this healthy growth has been across the board demand for cloud services. There has been strong demand for cloud solutions on the part of commercial businesses as well as state and federal institutions.
Desktop as a Service or DaaS is expected to show a phenomenal growth of 95%, propelling its overall size from US $616 MN to nearly US $1.2 BN. Top service providers like dinCloud have offered reliable and secure remote work solutions in the form of DaaS.
Software as a Service or SaaS is likely to retain its spot as the largest sub segment of the cloud industry. By the end of year 2020, it is expected the global SaaS market will reach a total size of a whopping US $120 BN.
After SaaS, Infrastructure as a Service or IaaS is the second largest cloud segment by market size. The global IaaS market is expected to reach a size of US $50 BN. This translates into a growth rate of over 13% year on year.
What makes the future of cloud solutions even more promising is a major shift in work trends, which are likely to stay even once we are past this pandemic. Remote work or Work from Home (WFH) has now gone mainstream and offers a lot of benefits.
Contact dinCloud for some of the industry’s best cloud solutions whether its DaaS or IaaS.