Global Cloud Computing Market: Where Does Your Firm Stand?

By Veritis

Global Cloud Computing Market: Where Does Your Firm Stand?

Gaining a competitive edge in any industry begins with a detailed understanding of target markets and changing trends.

Same applies to IT and within, the most-happening cloud computing market.

Over the period, the cloud computing technology transformed businesses of all sizes and placed most of them in the mainstream of the ever-changing competitive scenario.

Global Cloud Market Trends

Looking at the global cloud computing market trend, the United States has been enjoying the dominance since decades.

Continuing the pace, the US cloud computing market has set the path for cloud adoption and competition globally.

However, most countries could not keep up with the speed of the US cloud market.

As the market forecasts predict, the United States is most likely to be seven or more years ahead of other nations in cloud adoption by 2022. By then, 14% of the US overall IT spending is expected to be concentrated in cloud computing alone.

Cloud Market – Tracking, Lagging and Resisting Nations

Cloud Market - Tracking, Lagging and Resisting Nations

Gartner research categorized regions and countries by Tracking, Lagging and Resisting countries with US as the benchmark.

  • UK and The Netherlands, with around 11.5% estimated cloud adoption and spending rates, were listed under ‘Tracking’ countries (behind US by less than 3 years).
  • Despite the cloud spending CAGR of 34.8% by 2022, China remains in the ‘Lagging’ country category and is expected to be join the ‘Tracking’ countries list post 2023.
  • Japan is expected to continue seven years behind US thus continuing in ‘Resisting’ countries list even through 2022. Despite showing positive cloud spending forecast of 4.4% in 2022, cultural biases and regulatory procedures are likely to impact Japan’s cloud adoption.

Gaining Competitive Edge in Cloud

“To grow cloud computing spending, technology and service providers need to prioritize an organization’s cloud ambitions over countrywide priorities,” says Gartner.

Gartner recommends service providers should prefer to make cloud investment in countries and regions with current or planned hyperscale datacenters.

While the country-wise opportunities are wider in scope, their further focus has to be on organizational-specific ambitions, it adds.

Where do your firm stand in this cloud journey? We are here to improve your ranking through effective cloud consulting.

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