According to Goldstein Research, “Global digitization and growing deployment of IoT (Internet of things) propelled the growth of global IT and cloud services market.” IT and Cloud services market boosted by the huge amount of data being generated by machines and devices. Cisco GCI, estimated that 600 ZB (Zetta Byte) will be generated by all people, machines and connected devices by 2020, up from 145 ZB in 2015.
The global IT and cloud services market is segmented based on service, technology and end users. Technology is further bifurcated into public cloud, private cloud, hybrid cloud and community cloud. By 2024, more than 56% of the cloud workload will be in public data centers, up from 42% in 2015, expanding at a CAGR of 32% over the forecast period. In 2016, private cloud accounted for major share in the IT and cloud services market with 51% share in the market.
Asia-Pacific is the fastest growing region for global IT and cloud services market in 2015 and is expected to surpass Europe IT and cloud services market during the forecast period of 2016-2024. Public cloud service market in Asia-Pacific excluding Japan (ApeJ), showcased strong year-on-year growth of 41.9% in 2015. Cloud-based services continue to find support among organizations as it offers speed, agility and cost effectiveness. The top 10 vendors are dominating the market with more than 43.3% share in APeJ IT and cloud service market.
Artificial Intelligence Bots in the Cloud: Innovation
IBM has been researching on hybrid cloud technologies from past few years, focusing on hybrid models for enterprises. The new model of IBM offers customers access to connectivity tools, applications and access to their well known innovation, artificial intelligence platform (IBM Watson). IBM Watson can deal with customer's analytics needs, as Watson has strong cognitive capabilities, and can provide valuable analytics insights. IBM Watson can also provides data governance and its functionality can be tailored according to organization's specific business needs.
“Global IT and Cloud Services Market Outlook 2024” contains detailed overview of the global IT and Cloud Services market in terms of market segmentation by services type, by technology type and by end users.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Sacle) analysis, Porter’s five force model and SWOT analysis.
Global IT and Cloud Services Market Report also provides competitive outlook of some of the major players which includes profiling of companies such as IBM Corp., Amazon Web Services, Microsoft, Rackspace, VMware, Google, Akamai, Skytap etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
Overall, the report represents comprehensive synopsis on the global IT and cloud services market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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