Cloud Professional Service Market Size
Cloud Professional Services Market size was USD 20.4 billion in 2022 and is expected to grow at a CAGR of 15% during the period 2023-2032. Organizations are moving towards niche cloud solutions, including the Internet of Things (IoT), data analytics, Artificial Intelligence (AI), Machine Learning (ML), and multi-cloud security, as opposed to plain infrastructure services. These services are tailored based on the specific requirements of businesses in different industries.
To obtain important market trends
The increasing demand for cloud computing is driving the growth of businesses that offer professional services in clouds, thus increasing market demand. Cloud professional service providers provide services to manage, optimize, and support cloud resources so that they perform better and are cost-effective. As more and more businesses are moving towards cloud computing, the demand for cloud management & optimization services is increasing, which in turn is driving the demand for cloud professional services.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Cloud Professional Services Market Size in 2022 | USD 20.4 Billion |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 15% |
| 2032 Value Projection | USD 81.3 Billion |
| Historical Data for | 2018 – 2022 |
| No. of Pages | 300 |
| Tables, Charts & Figures | 353 |
| Segments covered | Service, Organization Size, Application, End-Use |
| Growth Drivers |
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| Pitfalls & Challenges |
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What are the growth opportunities in this market?
The growing internet connectivity in developing countries also adds to the heightened need for cloud professional services. Companies in such countries are embracing cloud computing as a means of enhancing their IT capabilities. Cloud providers assist such companies with cloud adoption, infrastructure migration, and optimization. Cloud professional services streamline the flexibility and scalability of cloud computing, enabling businesses to grow their operations and evolve in accordance with the changing market conditions.
The market for cloud professional services is highly competitive, resulting in price wars among cloud professional service providers. Competing service providers are providing services at lower prices to attract customers, which can contract their margins. Providers might not be able to invest in R&D, infrastructure enhancements & service innovations, and this pressure on prices will likely limit the overall market size.
The fact that many companies compete in the market and provide similar cloud professional services compels operators to differentiate their service in order to differentiate from competition. This limitation, together with the ease of access to standard solutions as well as the commoditization of some of these services, threatens differentiation, also limiting revenue of cloud professional services market.
COVID-19 Impact
When COVID-19 pushed everybody to work from home, cloud services demand boomed. Companies required a secure and efficient mechanism for their staff to work from home. Professional service providers of the cloud emerged to assist businesses in this change. They made their cloud environment optimized and delivered remote implementation and consulting services. Virtual conferences and cloud tools became the new way of doing business. As companies became more cost-sensitive, security-oriented, and compliance-driven, the demand for cloud security services increased. They lacked competent professionals in this space, so upskilling and training programs were high in demand. The pandemic catalyzed the use of cloud technologies, which demonstrated that they are crucial for remote work and continuity of business. Cloud professional services are now more valuable than ever before, assisting organizations in meeting the challenges of a rapidly changing globe.
Cloud Professional Service Market Trends
Companies are embracing multi-cloud environments in order to benefit from the advantages of different cloud providers and avoid vendor lock-in. This drive is fueling the need for cloud professional services that focus on integrating and managing different clouds. These services promote seamless interoperability, data portability, and centralized management between different clouds. Cloud services are also being merged with AI and ML technologies to a greater extent.
Cloud professional service providers are providing AI/ML features to businesses for use in areas like data analysis, predictive modeling, Natural Language Processing (NLP), and computer vision. Service providers also help businesses build & deploy AI/ML models on cloud environments, optimize infrastructure for AI workloads, and adopt data pipelines for AI-driven insights.
Cloud Professional Service Market Analysis
Learn more about the dominant segments driving this market
SaaS segment cloud professional services market maintained more than USD 9 million revenue in 2022. Companies are rapidly embracing SaaS offerings as a means to automate business processes, reduce expenses related to IT infrastructure, and have access to the latest features & updates. When combined with SaaS, technologies such as AI, ML, and advanced analytics provide enhanced functionalities, customized user experiences, and enhanced business insights.
Learn more about the most important segments driving this market
Public cloud professional service segment cloud professional services market size was achieved USD 9.5 billion in 2022. A public cloud provides infrastructure and services to various organizations or individuals across a shared network. It is operated & managed by third-party cloud service providers who are liable for maintenance, security, and scalability. Customers can use resources, including virtual machines, storage, and applications, on an as-you-go basis. Companies are embracing multi-cloud strategies, taking advantage of multiple public cloud service providers to get the best value for cost, performance, and resiliency.
In search of region specific data?
The North America cloud professional services market share was 30% in 2022, because of increased usage of advanced technologies. Companies in North America are implementing cloud computing, AI, ML, and IoT to increase scalability, drive innovation, and gain a competitive edge. Increased digitalization efforts, growing IT infrastructure, and increasing need for cloud-native applications in numerous industries are fueling the regional demand for cloud professional services.
Cloud Professional Service Market Share
Major companies operating in the cloud professional services market are
- Amazon Web Services (AWS)
- Microsoft Corporation
- Oracle Corporation
- Google LLC
- Alibaba
- Accenture
- IBM Corporation
- Cisco Systems, Inc.
Cloud Professional Service Industry News
- In April 2023, Google LLC launched the Google Cloud Consulting portfolio, which offers unified services that bring several specializations in one location. The portfolio includes services ranging from learning, technical account management, and professional services to client success. Users can access extensive information about the different services including their utilization to address specific business difficulties.
The cloud professional services market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million) from 2018 to 2032, for the following segments
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Market, By Service
- SaaS
- IaaS
- PaaS
Market, By Type
- Public
- Private
- Hybrid
Market, By Organization Size
- SMEs
- Large enterprise
Market, By Application
- Consulting
- Integration & optimization
- Application & development
- Modernization
- Implementation & migration
Market, By End Use
- BFSI
- Government
- Healthcare
- E-commerce
- It & telecom
- Energy & utility
- Manufacturing
- Automotive
The above information has been provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Netherlands
- Asia Pacific
- China
- India
- Japan
- South Korea
- Southeast Asia
- ANZ
- Latin America
- Brazil
- Mexico
- Argentina
- MEA
- Saudi Arabia
- South Africa
- UAE
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