According to the new report published by Industry Research PlaceGlobal Web Service Cloud Market is valued at USD 125.03 Billion in 2020 and is expected to reach USD 400.95 Billion by 2026 with the CAGR of 18.49 % over the forecast period
This report analyses the global market for Web Service Cloud. The report will enable the user to understand and gain insights into the current and forecast market situation. The market is comprehensively analyzed by geography to give complete information on the global scenario. The qualitative and quantitative data provided in this study can help user understand which market segments, regions are expected to grow at higher rates, factors affecting the market and key opportunity areas. The report also includes competitive landscape of key players in the industry along with emerging trends in the market.
Web Service Cloud Business Impact Assessment - Covid-19
Most corporate networks are not prepared for the attack of remote work being driven by COVID-19. While companies have spent money to build out their existing capacity to handle remote work, few have come close to provisioning capacity many times their established norms.
Customers’ distresses about performance difficulties that are building due to the increased load of remote workers are not initially focused on the hyper scale cloud providers. Instead, customers are noting slowdowns in connections and bandwidth limitations in their normal workplace and collaboration applications.
Due to increased demand cloud service providers poses significant challenges as follows:
Remote workers will require better volume from networks, storage and services during the crisis because they will work remotely either by choice or by mandate. Digital events to duck in-person transmission of the virus will stress the competences of services.
Independent software vendors (ISVs) and content providers like Netflix will face an increase in demand for streaming as people restricted to their home will upsurge their use of digital media and streaming services. This will also create supplementary demand for bandwidth on the internet as well as on cloud providers’ networks.
Operations teams supporting the cloud service assistances will be challenged to maintain service accessibility and performance, while working remotely, or with reduced staff.
The supply chain will be impacted as components powering the cloud data center resources, such as chips in servers or the servers themselves, become in short supply due to the manufacturing facilities being based in China and other impacted areas.
In a short period of time, markets and consumers’ behaviors have undergone drastic changes due to the outbreak of the coronavirus (COVID-19). From people raiding grocery store aisles to the cancelation of the world’s most significant events and mandates for “non-essential” businesses to temporarily close, this pandemic is having a substantial impact on the economy and society as we knew it.
With physical communication no longer being an acceptable form of communication in light of social distancing efforts, enterprises and institutions around the world have made a sudden shift to digital solutions in a bid to retain productivity. Moreover, many developed nations, including much of Europe and the US, are now demanding employees at non-essential businesses to work remotely for an undetermined time frame. Schools and universities are also leveraging video conferencing platforms to facilitate distance learning through live or recorded lectures.
The entertainment industry, meanwhile, has also observed a huge boost from individuals self-quarantining or under lockdown. The closure of movie theatres has caused many to assemble to replacements such as Netflix and Amazon Prime Video, the former of which saw its app downloads jump at least 60% in Italy, 30% in Spain, and 9% in the United States. Other forms of media such as video games have also been surging in popularity. According to American telecom giant Verizon, video game usage during peak hours had shot up by approximately 75% a mere week after quarantine was imposed.
The e-commerce boom
E-commerce is another industry that is ascending aloft in this time of crisis, as millions of individuals around the world flock to platforms such as Amazon to procure groceries, daily essentials, and medical supplies. Trends indicate that consumers will move their shopping online as they endeavor to voluntarily distance themselves from others for the foreseeable future
Capturing even a small part of this untapped market could even help smaller providers gain a stronger footing in the cloud industry.
This report highlights the impact of the Covid-19 pandemic on Global Web Service Cloud Market. By combining data from a range of industry sources, as well as predictive modeling and market trend analysis, we provide an evidence-based set of projections that will allow organizations to plan their strategies more effectively. The report gives in depth analysis of short term and long term impacts of epidemic on the industry.
The COVID 19 impact assessment of Global Web Service Cloud Market is divided into following sections:
Section1: Pre Lockdown
This part of the report looks at how market changed throughout early 2020, as the spread of COVID-19 intensified on different geographies.
Section2: During Lockdown
This part of the report collects data from across the sector to know how people have responded to lockdown. It analyses the impact of the epidemic on the workforce in the industry and disruption in various regions and countries
Section3: Post Lockdown
This part of the report project what sector recovery could look like and summarizes ways in which the business landscape could shift.
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oInfrastructure As A Service
oSoftware As A Service
oPlatform As A Service
Global Web Service Cloud Market Trends and Opportunities
All IT expert experts agree that cloud computing that incoming future cloud computing will be at the forefront of all technologies to solve major business challenges. The below mentioned are the market top trends currently adopted by the market leaders conforming to future business perspective.
Hybrid/ Multi-Cloud Solutions
Hybrid cloud computing denotes to using a combination of the private cloud as well as a third-party public cloud service. It is primarily used to let workloads to move between private and public clouds, giving users more flexibility with their computing needs.Tech giants like Microsoft and Amazon are previously investing heavily in hybrid cloud computing as a product. Hybrid cloud computing offers greater security features, SaaS capabilities, consistent server reliability, customizable capabilities, and top performance. Because of the flexibility it offers and its reduced cost, making it fit for even growing businesses.
Advancement in technology has enabled the cloud computing to look forward to AI. Major industry players are extensively looking forward to incorporate AI to process big data to advance their business functioning. Incorporating AI, computing platforms are augmented their efficiency. Offers organizations the ability to automate and manage their processes intelligently. Tech giants are now looking into incorporating AI to process big data to improve their business functioning. By using artificial intelligence, computing platforms are increasing their efficiency. It now offers organizations the ability to automate and manage their processes intelligently. The framework also lets them to effortlessly scale and adapt to the changing needs of the business. AI is certainly a cloud computing trend to watch out for as it empowers organizations with smoother workflow and increased efficiency. In fact, an IBM study reveals that 65% of organizations believe AI is important for their strategy and success.
The cloud computing trend has empowered the IoT platforms; with a hyper-connected world great upsurge in IoT is being seen. An IoT platform is a cloud-enabling platform that works with standard devices to enable cloud-based applications and services on it. IoT functions as a mediator, collecting data from different devices with a remote device configuration and smart device management. The technology is self-management and sends out real-time alerts to troubleshoot issues. IoT also supports different industry-grade protocols to deliver smart predictions through monitoring organization processes. This intelligent connectivity is what makes IoT platforms a cloud computing trend.
Edge computing is a method of optimizing cloud computing network system by performing data processing at the edge of the network, near the source of the data. It works real-time on the cloud servers to process less time-sensitive data or store data for the long term. That means with the continued convergence of IT and telecommunication will bring edge computing at the front position, creating a enormous array of new opportunities for organizations to use new technologies and computing power. With IoT devices presence on a massive increase, edge computing will play a principal role in providing real-time information & data analysis and streamline the flow of traffic from IoT devices.
Recent Development in Global Web Service Cloud Market
January 19, 2017
Oracle announced that it signed an agreement to acquire Apiary, which creates the most comprehensive API Integration Cloud by adding the leading API design and governance solution. Apiary’s pioneering APIFlow solution provides the framework and tools for developing application programming interfaces (APIs) that share enterprise services and data and help create modern, cloud-based applications and experiences.
May 16, 2018
Oracle announced it has entered into an agreement to acquire DataScience.com. DataScience customers leverage their industry-leading tools to organize work, easily access data and computing resources, and execute end-to-end model development workflows.
Apr 3, 2019
Dell Technologies Capital has invested in Faction, an MSP that supports VMware Cloud on AWS. The total round, including additional investors, was $14 million. Faction will use the funding to expand its MSP and cloud services footprint worldwide, while also supporting data protection and storage connections across Amazon Web Services, Microsoft Azure and Google Cloud Platform (GCP).
November 04, 2019
Rackspace Acquires Cloud-Native AWS Specialist Onica. Rackspace is looking to supercharge its AWS professional services practice with an agreement to buy Onica, a fast-growing Amazon partner specializing in cloud-native solutions
Oct 22, 2019
Cognizant, the IT services and digital consulting giant, is acquiring Contino, an Amazon Web Services (AWS) cloud consulting firm that also works closely with Microsoft Azure and Google Cloud Platform. Contino offers digital transformation services to Global 2,000 clients. The company specializes in DevOps methodologies, a cloud-native development approach, and various data platforms.
Jul 1, 2020
VMware has acquired Datrium for disaster recovery as a service (DRaaS) and hyperconverged infrastructure (HCI) capabilities. Among the potential winners: MSPs that need data protection services for VMware Cloud on AWS (Amazon Web Services). Financial terms of the deal were not disclosed.
19th August 2020
Amazon in talks to invest in cloud services company Rackspace. The deal would involve Amazon acquiring a minority stake in Rackspace. The deal would involve Amazon acquiring a minority stake in Rackspace. Rackspace helps companies migrate their data to Amazon Web Services (AWS), and the investment would strengthen the ties between the two companies. Rackspace also migrates companies to Google Cloud, Microsoft Corp’s Azure and VMware.
Aug 25, 2020
Google has acquired StratoZone to help partners and customers plan and automate data center migrations to Google Cloud Platform. Financial terms of the deal were not disclosed.
Oct 22, 2020
Cognizant has acquired Bright Wolf, a Microsoft Azure and Amazon Web Services (AWS) cloud partner specializing in custom Industrial Internet of Things (IIoT) solutions. Financial terms of the deal were not disclosed. Bright Wolf, founded in 2009, delivers design consulting, development, and digital transformation services for clients such as Caterpillar and ITW Hartness in manufacturing, energy, transportation, water, healthcare, agriculture, and more, Cognizant says.
•An overview of the Global Web Service Cloud Market
•In depth analysis of market dynamics and major factors such as drivers, restraints, opportunities and trends influencing the global market
•Global Web Service Cloud Market revenue data historic and forecast analysis (2016 to 2026)
•Characterization and quantification of the market segments for Web Service Cloud Market
•Market share analysis of key market participants and their competitive landscape
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Important Questions Answered by Global Web Service Cloud Market Report
•What is the impact of COVID 19 epidemic on the Global Web Service Cloud Market?
•Which is mostly affected region, country?
•Which is the current largest and fastest-growing region?
•What is the market size and growth rate of the Global Web Service Cloud Market?
•What are current factors affecting the growth of market?
•What are Key trends and opportunity areas?
•Within Web Service Cloud Market, which segments are fastest growing & emerging strongly? What are the drivers and restraints for each segment? What are vendor competencies by segment?
•What are the major strategies adopted by leading market companies?
•What are company challenges and essential success factors by market segment?
•How company offerings and supply chain capabilities are shifting to meet emerging market needs?
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