Global Cloud Professional Services Market Overview, SWOT Analysis, Applications, Trends and Forecast 2022 – 2031

Kenneth Research, in its repository of market research reports, have recently added a report on Global Cloud Professional Services Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2022-2031.

U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Global Cloud Professional Services Market products.

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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further.

Global Cloud Professional Services Market is valued approximately USD 46.99 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 19.6 % over the forecast period 2020-2027. Cloud professional services provide consulting services to customers about how to upgrade their existing business infrastructure, and their implementation services ensure a successful and safe deployment on any infrastructure, including private cloud, public cloud, and hybrid cloud. The increasing internet users, increasing demand for better time complexity, agility and portability during software development, growing need for digitization, government support and services has led the adoption of Cloud professional services across the forecast period. For instance, in October 2021, IBM announced the ‘IBM Cloud Satellite,’ which will allow Indian government agencies at the federal level, state level and public sector organizations, to deploy cloud services securely through public and private clouds. Also in December 2020, under the Atmanirbhar Bharat initiative, NITI Aayog has launched DigiBoxx, India’s first indigenously developed cloud storage, sharing, and collaboration platform which offers storage upto 5TB(Terabytes).

However, high maintenance costs and lack of understanding may impede the growth of the market over the forecast period of 2022-2031. Also, with the increasing use of clouds in healthcare sectors and other industries’ shift towards cloud because of COVID19 pandemic, the adoption & demand for cloud professional services is likely to increase the market growth during the forecast period.

The geographic analysis of the global Cloud Professional Services market includes Asia Pacific, North America, Europe, Latin America, and the Rest of the World.. Europe is the leading region across the world in terms of market share owing to the growing internet user population and promptness & affordability of Internet services coupled with the well-established digital infrastructure. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate over the forecast period 2022-2031. Factors such as rising disposable income, rising pay per view methods, increasing COVID19 cases and improving digital infrastructure would create lucrative growth prospects for the Global Cloud Professional Service market across Asia-Pacific region.

Major market player included in this report are:

DXC Technology

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

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The detailed segments and sub-segment of the market are explained below:

By Service Type:

Application Development and Modernization
Implementation and Migration
Integration and Optimization

By Deployment Model:

Public Cloud
Private Cloud

By organization size:

Small and Medium-sized Enterprises (SMEs)
Large Enterprises

By verticals:

Healthcare and Lifesciences
Retail and Consumer Goods
Energy and utilities

By Region:

North America

Asia Pacific

South Korea
Latin America
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 203`

Target Audience of the Global Cloud Professional Services Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers

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The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys  & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
  •  Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook

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Kenneth Research provides scheduled syndicated reports that help industry professionals and organizations decipher market trends to take significant decisions and plan strategies. We cater to a wide range of industries including healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defence, among others. Our research team ensures to track and analyze the industry on a regular basis to offer strategic business consultancy services on a global level. We, at Kenneth Research, are adept at capturing descriptive insights on crucial topics to help our clients make their informed decisions.

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