Cloud Computing Services Market Size, Share, Trends, Key Players, Demand and Opportunities by 2023

The cloud computing services market is expected to gain acceptance and become a key element in delivering IT services because of the growing need for fast and flexible IT systems and significant advantages which cloud offers compared to traditional on-premises data center services. With several newcomers, such as Enomaly Inc., GoGrid LLC and AT&T, instilling innovations, the cloud computing services market is expected to experience huge growth in the forecast period with its increasing adoption by companies around the world.

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The growth in cloud computing services is driven by demand in developed nations in Western markets, such as Europe and North America. The developing nations are slowly adopting the concept of cloud computing, and are expected to drive the growth of cloud computing services in the later part of the decade.

Based on types of security, the cloud computing services market can be broadly classified into Software as a Service (SaaS), Infrastructure as a Service (IaaS) and Platform as a Service (PaaS). Amongst these, the most commonly used cloud computing service is the Software as a Service (SaaS), which can be accessed from anywhere in the world as long as the user has an access to internet connection.

A major trend observed in the cloud computing services market is the use of containers for a private view of the application. Containers offer private process ID space, file system structure, network interfaces, isolated resources and restricted services (a definite amount of resources such as CPU, memory and I/O).