Report Id: SNS/ICT/2414 | July 2022 | Region: Global | 135 Pages
Report Scope & Overview:
The Cloud Professional Services Market size was valued at USD 17.34 Bn in 2022 and is expected to reach USD 59.42 Bn by 2030, and grow at a CAGR of 16.64 % over the forecast period 2023-2030.
Cloud professional services help businesses to build high-end cloud solutions in three key models: private cloud, public cloud, and hybrid cloud, in order to drive business operations, and increase efficiency, flexibility, and infrastructure scalability. To assist in the optimization of pre-existing cloud systems, vendors offer services such as application modernization, customized application development, consulting and advisory, integration, implementation, migration, optimization, product installation, and support and maintenance. Cloud professional services help to reduce system implementation costs and offer end-to-end delivery solutions that add value to an enterprise's business and technical operations.
Bigtime Software Acquires Projector to Position It as the Leading Operating Platform for Professional Services Firms. Bigtime Software, the largest cloud-based software supplier for professional services organizations, announced the purchase of Projector PSA, a major provider of cloud-based PSA software to the middle market, in July 2022. The merged company will provide an operating platform with practice management capability that will allow professional services organizations to develop confidently.
Cloud-based paradigm shift.
Cloud companies' offerings are expanding.
Digitalization is becoming increasingly important.
Embracing the complicated cloud environment.
Issues with regulatory compliance.
Data security and confidentiality concerns.
Organizational preference for cloud-based deployments to overcome on-premises restrictions.
Increased cloud utilization in healthcare.
Increasing public awareness.
Implementing cloud services is difficult.
Choosing the Best Service Combination.
IMPACT OF COVID-19:
Many companies have had to adjust their procedures and practices as a result of the COVID-19 epidemic. The inability to travel was the primary cause of company interruption. Inability to relocate the labor and social alienation have prompted corporations to alter their current business models. To combat the COVID-19 epidemic, governments are collaborating closely with cloud providers. Because of rising demand for the cloud to provide a range of important digital solutions such as e-commerce and remote work, as well as entertainment platforms like as online gaming and video streaming, the COVID-19 outbreak has considerably boosted the expansion of the cloud services business. Furthermore, during the pandemic, cloud service companies' revenues grew at a rapid pace.
Cloud professional services companies provide consulting services to consumers that have insufficient knowledge about upgrading current corporate infrastructure. Users who want to improve their infrastructure may make use of the experience of cloud professional service providers that specialize in the deployment of cloud-based systems across industry-specific use cases, which aids in the implementation of the proper mix of services. Implementation services help clients achieve their business goals faster by planning, accessing current systems, doing quality assessment and verification, and providing support. Implementation services provide a successful and secure deployment on any infrastructure, including private, public, and hybrid clouds.
The services provided through the public deployment paradigm are either free or require a subscription. It assists enterprises in meeting their scalability requirements, as well as providing a pay-per-usage pricing structure and simplicity of setup. To prevent data loss, the public cloud is often constructed with built-in redundancies. A private cloud deployment approach allows a corporation to have more control over its data and decrease risks such as data loss and regulatory compliance difficulties. Only authorized users may access the system in the private cloud, which is employed in banking and financial institutions, major corporations, and government agencies.
The market is divided into the following industry verticals: BFSI, IT & Telecom, Healthcare, Retail & eCommerce, Government & Defense, Media & Entertainment, Manufacturing, and Others. During the projection period, the healthcare industry segment will show a promising CAGR. The use of cloud professional services is increasing across the healthcare business because data can be readily shared among medical service suppliers. Organizations are continually seeking to provide medical support via gadgets in order to improve drug adherence, minimize emergency department visits, and decrease hospital readmissions.
KEY MARKET SEGMENTS:
On The Basis of Service Type
Application Development and Modernization
Implementation and Migration
Integration and Optimization
On The Basis of Deployment Model
On The Basis of organization size
Small and Medium-sized Enterprises
On The Basis of verticals
Healthcare and Lifesciences
IT and ITES
Retail and Consumer Goods
Energy and utilities
Because of the increased number of end-users and rising acceptance of cloud computing in Canada and the United States, North America is expected to be the leading regional market for cloud professional services. Because of the tremendous advancement of industries such as education, healthcare, and BFSI, APAC is the second largest shareholder. India, Japan, China, and Australia are leaders in cutting-edge technologies such as AI, IoT, analytics, and cloud computing, which is projected to fuel demand for cloud professional services. On the other hand, the market in the Middle East and Africa is expected to grow.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
The major key players are Alibaba group holding limited, Amazon web services, Inc., Cisco Systems, Inc., Dell, technologies Inc., Google LLC, Hewlett Packard enterprise development lp, international business machines corporation, Microsoft Corporation, Oracle Corporation, Rackspace Hosting, Inc.
|Market Size in 2022||US$ 17.34 Billion|
|Market Size by 2030||US$ 59.42 Billion|
|CAGR||CAGR 16.64% From 2023 to 2030|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• by Service Type (Consulting, Application Development, and Modernization, Implementation and Migration, Integration and Optimization)
• by Deployment Model (Public Cloud and Private Cloud)
• by organization size (Small and Medium-sized Enterprises and Large Enterprises)
• by verticals (BFSI, Manufacturing, Healthcare and Lifesciences, IT and ITES, Government, Telecommunications, Retail and Consumer Goods, Energy and utilities, Others)
|Regional Analysis/Coverage||North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, +D11UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|Company Profiles||Alibaba group holding limited, Amazon web services, Inc., Cisco Systems, Inc., Dell, technologies Inc., Google LLC, Hewlett Packard enterprise development lp, international business machines corporation, Microsoft Corporation, Oracle Corporation, Rackspace Hosting, Inc.|
|Key Drivers||•Cloud-based paradigm shift.
•Cloud companies' offerings are expanding.
|Market Restraints||•Issues with regulatory compliance.
•Data security and confidentiality concerns.
Frequently Asked Questions (FAQ) :
Ans: - The estimated market size for the Cloud Professional Services market for the year 2028 is USD 43.67 Bn.
Ans: - Cloud-based paradigm shift and cloud companies' offerings are expanding.
Ans: - North America is expected to be the leading regional market for cloud professional services.
Ans: - The major key players are Alibaba group holding limited, Amazon web services, Inc., Cisco Systems, Inc., Dell, technologies Inc., Google LLC, Hewlett Packard enterprise development lp, international business machines corporation, Microsoft Corporation, Oracle Corporation, Rackspace Hosting, Inc.
Ans: - Key Stakeholders Considered in the study are Raw material vendors, Regulatory authorities, including government agencies and NGOs, Commercial research, and development (R&D) institutions, Importers and exporters, etc.
Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.2 Impact on major economies
184.108.40.206 United Kingdom
220.127.116.11 South Korea
18.104.22.168 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Cloud Professional Services Market Segmentation, by Service Type
8.2 Application Development and Modernization
8.3 Implementation and Migration
8.4 Integration and Optimization
9. Cloud Professional Services Market Segmentation, by Deployment Model
9.1 Public Cloud
9.2 Private Cloud
10. Cloud Professional Services Market Segmentation, by organization size
10.1 Small and Medium-sized Enterprises
10.2 Large Enterprises
11. Cloud Professional Services Market Segmentation, by verticals
11.3 Healthcare and Lifesciences
11.4 IT and ITES
11.7 Retail and Consumer Goods
11.8 Energy and utilities
12. Regional Analysis
12.2 North America
12.3.6 The Netherlands
12.3.7 Rest of Europe
12.4.2 South Korea
12.4.6 Rest of Asia-Pacific
12.5 The Middle East & Africa
12.5.3 South Africa
12.6 Latin America
12.6.3 Rest of Latin America
13. Company Profiles
13.1 Alibaba group holding limited
13.1.2 Products/ Services Offered
13.1.3 SWOT Analysis
13.1.4 The SNS view
13.2 Amazon web services, Inc.
13.3 Cisco Systems, Inc.
13.4 Dell, technologies Inc.
13.5 Google LLC
13.6 Hewlett Packard enterprise development lp
13.7 International business machines corporation
13.8 Microsoft corporation
13.9 Oracle corporation
13.10 Rackspace hosting, Inc.
14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share Analysis
14.3 Recent Developments
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