The Market For Professional Cloud Services Will Reach 41.59 Million Dollars In 2023

The global professional cloud services market was valued at 15.36 billion dollars in 2017, and is expected to reach a value of 41.59 billion dollars in 2023, experiencing a compound annual growth rate of 17, 72%, during the forecast period (2018-2023).

The report prepared by Mordor Intelligence studies the type of implementation offered by the main actors, which include local and cloud services. The regions considered are the United States, Canada, the United Kingdom, Germany, France, Russia, South Africa, China, India, Japan, Mexico, Saudi Arabia and Brazil.

Companies that offer professional cloud services have been advising their clients for years to focus on the core competence and allow certain tasks to be handled by external specialist suppliers to obtain the best result. This is the main driving force that promotes the growth of the professional services market in the cloud. Cloud platform services for multiple locations allow thousands of customers to use similar resources. This resulted in the saving of a large amount of labor and related expenses.

Professional cloud services easily adapt to the changing landscape and meet the new requirements of the market. Cloud service providers have ensured that applications can be easily configured, as well as create new ones, in a very short time. All these factors help the organization to focus on its main competence, which in turn, has an impact on its overall growth. All the above factors have been important growth aspects for the professional services market in the cloud, in a global scope.

The Growth In The Adoption Of Cloud Services Has Increased The Demand For Professional Cloud Services

According to data from the NASDAQ, revenues from cloud services grew 60% in 2015. In addition, it is estimated that cloud computing will grow at an accelerated pace in the next five years, between 2018 and 2023. The greater adoption of software based on The cloud has provided a number of benefits for companies in various industries, including the ability to use software from any device, either through a native application or through a browser.

It is estimated that in 2015 more than 70 billion dollars of SaaS income were generated. For 2016, an 11% change in the IT budget is expected with respect to the delivery of traditional IT to several versions of cloud computing as a new service model. By 2020, it is expected that more than 65% of companies will have at least half of their infrastructure on cloud-based platforms.

The Hybrid Cloud Will Have A High Growth In The Market

For many years, the cloud has been the preference and focus of decision makers in IT and businesses; however, extremely security conscious companies have hesitated to move their data and workloads to the cloud. Given that technological innovations and the advances behind professional cloud services are available for implementation within organizations, a new cloud model is positioning itself in business, that is, the hybrid cloud.

The hybrid cloud is a combination of a public cloud provider with a private cloud, that is, designed to be used by a single organization. By allowing workloads to move between public and private clouds, as computing needs and costs change, the hybrid cloud has led companies to achieve greater flexibility and more data deployment options. This implementation model helps companies take advantage of secure applications and data hosting in a private cloud, while enjoying the cost benefits of maintaining data and applications shared in the public cloud. Therefore, the cloud migrates workloads between public and private accommodation, without creating any inconvenience for users.

North America Has The Highest Proportion Of Cloud Services

The latest technological advances have helped advance professional cloud services that can make processes more efficient and can significantly improve accuracy in various applications. There have been a series of collaborations, mergers and acquisitions in North America to take advantage of this opportunity.

North America represents the largest part of the global professional services market in the cloud. This is due to the early adoption of cloud-based networks by the US markets. The contraction of resources to create internal facilities and the increase of BYOD are helping the North American market generate the highest revenues.

The benefits, such as improving agility and flexibility, as well as being able to deploy new applications more quickly, are important. In addition, in the United States, companies, where employees are more than 100, are adopting cloud-based applications, and almost 35% of SMBs in the country have already implemented cloud solutions.