Story image

Cloud engineering market worth USD $13.43 billion by 2022, report says

07 Aug 17

The cloud engineering market size is expected to be worth USD $13.43 billion by the year 2022.

That’s according to a new report from MarketsandMarkets, Cloud Engineering Market by Service Type (Consulting and Design, Cloud Storage, Integration and Migration), Service Model, Organization Size, Deployment Model, Vertical, and Region - Global Forecast to 2022.  

The report states the market will grow from USD $4.73 Billion in 2017 to USD $13.43 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 23.2%.  

The research found growth in the cloud engineering market is driven by a number of factors, including concept testing before making huge investments, lower costs and greater efficiency than on-premises solutions and the growing demand for tailored services.

Moreover, an increase in the adoption rate of cloud-based technologies and the need for efficient scalable infrastructure in enterprises has also contributed to growth in the cloud engineering market.

According to the report, retail and consumer goods is one of the fastest-growing sectors due to the need for comprehensive cloud environment.

Cloud engineering allows retail businesses to seamlessly integrate multiple shopping channels while presenting a unique shopping experience to consumers, the report explains.

The need to improve sales, customer satisfaction, brand image, and to increase the data generation is forcing the retail and consumer goods sector to move from a traditional IT strategy to the cloud.

While North America holds the largest market share in 2017, Asia Pacific is projected to be the fastest growing region.

The report determined that North America is the most mature market in terms of cloud adoption due to a range of factors, such as standard regulation, advanced IT infrastructure, presence of large number of enterprises, and the availability of proficient technical expertise.

Some of the major vendors providing cloud engineering services in Asia Pacific are based in India, and include ITC Infotech India Ltd. (Karnataka, India), Nitor Infotech (Maharashtra, India) and VVDN Technologies (Haryana, India).

Dell EMC embeds security in latest servers
Dell EMC's 14th generation of PowerEdge servers has comprehensive management tools to provide security across hardware and firmware.
Hands-on review: The Logitech R500 laser presentation remote
With a clever ergonomic design, you’ll never have to glance at the device, unless you deliberately look to use the built-in laser pointer to emphasise your presentation.
Review: Should you buy the Fitbit Charge 3?
If you are new the to the world of wearables you might be wondering if Fitbit’s new offering is a good first step. Maybe I can help with that.
The disaster recovery-as-a-service market is on the rise
As time progresses and advanced technologies are implemented, the demand for disaster recovery-as-a-service is also expected to increase.
Cohesity signs new reseller and cloud service provider in Australia
NEXION Networks has been appointed as an authorised reseller of Cohesity’s range of solutions for secondary data.
Dell dominates enterprise storage market, HPE declines
The enterprise storage system market continues to be a goldmine for most vendors with demand relentlessly rising year-on-year.
Lenovo DCG moves Knight into A/NZ general manager role
Knight will now relocate to Sydney where he will be tasked with managing and growing the company’s data centre business across A/NZ.
Avnet to boost AI/IoT solutions with acquisition
The acquisition of Softweb Solutions adds software and artificial intelligence to Avnet’s ecosystem and bolsters its IoT capabilities.