Market Analysis: Global Cloud-based computing Market
Cloud-based computing market is expected to rise to an estimated value of USD 1031.36 billion by 2026, registering a healthy CAGR in the forecast period of 2019-2026. Rising adoption of hybrid cloud service and increasing number of small and medium sized enterprises are the factors for the growth of this market.
Market Definition: Global Cloud-based computing Market
Cloud computing is the delivery of any services such as networking, software, storage and others over the internet. This can either be private or public in which public cloud sell services to the people on the internet and private cloud is usually used by organization in which services are provided to the limited number of the people. They are divided into three service models- platform as a service, software as a service and infrastructure as a service. These cloud computing are very beneficial as they are cost effective, improves performance, enhance productivity and has the ability to scale elastically. They are widely used in industries such as banking, manufacturing, media, healthcare, energy utilities and others.
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