Europe Cloud Computing Market Will Be Estimated By Technological Advances And Rising Consumer Demand In The 2021-2026 Forecast Period

Expert Market Research’s new report entitled, ‘Europe Cloud Computing Market Report and Forecast 2021-2026 ‘, gives an in-depth analysis of the Europe Cloud Computing Market, assessing the market based on its segments such as service type, organization type, deployment model, application and major regions such as North America, Europe, the Asia-Pacific, Latin America, and the Middle East and Africa. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key requirements and prices, along with an analysis of the market based on the SWOT and Porter Five Forces models.

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The main features of the report include:

Market Overview (2015-2026)

  • CAGR forecast (2021-2026): 9.0%
  • Forecast Market Size (2026): USD 68.8 billion

The European Cloud Computing Market has grown over the historical period, due to technological advances in cloud computing, and hardware and software, fueled by a growing consumer preference for this market.

Industrial Definition and Important Segments

Cloud computing is the on-demand delivery of computing resources such as storage, servers, apps, and the Internet to enable faster innovation and economies of scale. Customers prefer cloud computing to traditional on-site deployments because it allows them to pay directly for the resources they require, while allowing them to manage their technology more efficiently. Its market is further divided into segments such as:

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Based on service type, the market is divided into:

  • Software-as-a-service (SaaS)
  • Infrastructure-as-a-service (IaaS)
  • Platform-as-a-service (PaaS)

As for the type of organization, the market is divided into:

Based on a deployment model, the market is segmented into:

Depending on the application, the market is divided into:

  • IT and Telecommunications
  • BFSI
  • Retail trade
  • Sanzorgo
  • Government and Public Sector
  • Manufacturing
  • Education

The regional market for Cloud Computing includes:

  • United Kingdom
  • Germany
  • France
  • Italy

Market Trends

Globally, the UK has secured a significant market share in 2020 as a result of strong government initiatives and a high rate of cloud adoption by British companies. The British government has made significant investments in cloud computing, more than doubling its spending in the last five years. In Germany, the SaaS service segment is expected to gain significant market share, due to its increased acceptance among SMEs. Rising demand for Client Relationship Management (CRM) software is also helping to develop the SaaS model in Europe’s cloud computing market. Due to low subscription prices and hardware independence, SaaS has become a viable solution for small and medium-sized businesses with limited financial resources. In France, SME companies are positioned to experience strong expansion, fueled by the cost-effectiveness of cloud deployment strategies. Increased knowledge among SMEs about the various benefits of cloud computing, such as remote computing, lower costs, and the availability of on-demand computing resources, is driving the country’s market expansion. In Italy, the hybrid cloud deployment paradigm is expected to increase significantly, due to the combined benefits of scalability and data security. Businesses can use a hybrid cloud approach in which data is stored in a private cloud and computer resources are provided through a public cloud. This offers excellent performance and solid security without the need for capital investment or IT equipment.

In the European cloud computing sector, large organizations will witness an increase in the use of on-demand computer services to accelerate the provision of IT services. Large companies have taken advantage of these facilities even more than small businesses, maintaining market stability and gaining a strategic advantage over competitors. The increased consumer desire for cloud computing to replace old on-premises infrastructure has also fueled the adoption of cloud computing in large companies. The consistent acceptance of cloud computing platforms to reduce the costs of purchasing and maintaining IT infrastructure, as well as the rapid expansion of global cloud providers within European countries, is driving the growth of the cloud computing market in the forecast period.

Key Market Players

The major players in the global market are Oracle Corporation, SAP SE, RheoCube, StorageOS, among others. The report covers the market shares, capabilities, plant changes, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

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