Cloud computing is the practice of sharing network of remote servers which are hosted on the Internet to store, process, share, and manage data rather than on a local server or a personal computer. The services provided by the cloud computing technology are referred to as cloud services. It specifically refers to a common storage space through which all the devices in the network can access data simultaneously. The use of cloud services not only provides cost benefits but also makes data accessible to all devices in the network at any time and from any location. The global cloud services market is seen to be driven by many factors.
The most important factor, which is driving the market, is the cost effectiveness. With the deployment of cloud services organizations can save more than 35% of the annual operating costs. The other factor includes all the functional capabilities which boost up the business performances of the organizations. However, data security is the key restrain for the growth of cloud services market as organizations believe that their data is more secure in in-house data centers as compared to a virtual cloud network.
The other limiting factors are the data location and data administration, which need to be properly worked out in order to increase the revenue of the market. The opportunity for cloud services market lies in the developing economies as they have gradually grown to become the hub for IT services, one of the largest target segment for cloud services. In addition, substantial increase in the number of small and medium enterprises will eventually lead to the increased adoption of cloud services in such regions.
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Cloud Services Market Analysis by Services
The major services provided by cloud include Infrastructure as a Service (Iaas), Platform as a Service (Paas), Software as a Service (Saas), Business process as a service (Bpaas), cloud advertising and cloud management & security services. Iaas is basic cloud services model which provides physical or virtual machines and other resources to facilitate cloud. Paas cloud providers deliver a computing platform such as operating system whereas, Saas cloud provides access to application software and databases. Infrastructure as a service has shown a remarkable growth in last few years due to the elevated profitability of the IT sector. Business process as a service lays on the foundation of the three services Iaas, Paas and Saas and is the service used to improve the business performance. Cloud advertisements are the services provided by the cloud vendor to lease space to the companies for advertisements. Cloud management and security services deal with the security concerns in the cloud.
Cloud Services Market Analysis by Type
There are different types of clouds, namely private cloud, public cloud, hybrid cloud and community cloud. Private clouds cannot be accessed by anyone other than the authorized person and are the ones used by organizations such as IT sector, health care and Banking financial services & insurance for their personal information records. Public cloud can be accessible to all the devices using virtual cloud used by IT sector, government institutions and supply chain management. . Hybrid cloud is the combination of Private and Public cloud and is generally used by the government institutions and educational sector. Community cloud is referred to that cloud which is used by same industries such as IT sector and health care to stay connected to the same community. All these clouds can be urther segmented into Iaas, Paas, Saas, BPaas, cloud advertisement services and cloud management & security services.
High Level Analysis
The report provides a holistic view of the global cloud services market using Porter’s five force model, value chain analysis, and SWOT analysis among others. This analysis in the report helps in accurately visualizing competitive environment in the global cloud services market. This is done through in-depth analysis of strategies followed by key market players and their strategic moves. Drivers enabling the growth of cloud market, limiting factors and opportunities for the same are strategically dealt in this report. The five-force analysis of the market revealed that the bargaining power of the supplier is lower due to the presence of large number of service providers in the market. Due to the lower differentiation in services the switching costs for the buyer reduces. The buyer becomes price sensitive and hence this strengthens the bargaining power of the buyer. The threat of the substitute for the cloud services market is very low due the under performance of the conventional computing methods. The rivalry in the industry is fierce due to the presence of numerous and well known brands. Value chain analysis explains the intermediaries involved in the cloud services market and their roles & importance in the entire cloud services market.