Cloud Computing Market Worth $1,402.7 Billion by 2030

Cloud Computing Market by Service Model (Infrastructure as a Service, Platform as a Service, and Software as a Service), Deployment Mode, Organization Size, End User (BFSI, Retail, and Healthcare), and Geography – Global Forecast to 2030

According to this latest publication from Meticulous Research®, the global cloud computing market is projected to reach $1,402.7 billion by 2030, at a CAGR of 16.8% from 2024 to 2030. The growth of this market is driven by the increasing adoption of cloud computing services, personalized customer experience, rising demand for AI, and increasing adoption of technologies such as ML and IoT. However, data security & privacy concerns may restrain the market’s growth. The rising government initiatives and consistently rising adoption of cloud computing solutions among businesses are expected to offer significant growth opportunities for the cloud computing market. Furthermore, the complexity related to the adoption of the multi-cloud model is expected to pose challenges to the growth of the cloud computing market. The latest global cloud computing market trends are the rise in cloud gaming and serverless computing.