With 16.80% CAGR, Global Cloud Professional Services Market Size to Hit $37.3 Billion by 2028 - Says Facts & Factors (FnF)

Facts & Factors
Facts & Factors

[203+ Pages Report] The size of the Global Cloud Professional Services Market was worth around USD 14.7 Billion in 2021 and is predicted to grow to around USD 37.3 Billion by 2028 with a compound annual growth rate (CAGR) of roughly 16.80% between 2022 and 2028. The key market players are listed in the report with their sales, revenues and strategies are Accenture (Ireland), IBM (US), Deloitte (UK), EY (UK), PwC (UK), HPE (US), Wipro (India), HCL (India), TCS (India), Capgemini (France), Atos (France), Cisco (US), Cognizant (India), DXC (US), Hitachi Vantara (US), Infosys (India), LTI (India), NTT Data (Japan), Rackspace (US), T-Systems (Germany), AWS (US), Google (US), Microsoft (US), Fujitsu (Japan), Alibaba Cloud (China), and others.

NEW YORK, USA, Oct. 04, 2022 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Cloud Professional Services Market By Service Type (Consulting, Application Development and Modernization, Implementation and Migration, Integration and Optimization), By Deployment Mode (Public Cloud, Private Cloud), By Organization Size (Small and Medium-sized Enterprises (SMEs), Large Enterprises), By Verticals (BFSI, Manufacturing, Healthcare and Lifesciences, IT and ITES, Government, Telecommunications, Retail and Consumer Goods, Energy and utilities, Others), and By Region - Global Industry Overview, Market Size, Statistical Research, Market Intelligence, Comprehensive Analysis, Historical Trends, and Forecast 2022–2028” in its research database.

“According to the latest research study, the demand of global Cloud Professional Services Market size & share was valued at approximately USD 14.7 Billion in 2021. The market is expected to grow above a CAGR of 16.80% and is anticipated to reach over USD 37.3 Billion by 2028.”

The report analyses the Cloud Professional Services market’s drivers and restraints, as well as the impact they have on-demand throughout the projection period. In addition, the report examines global opportunities in the global Cloud Professional Services market.

Cloud Professional Services Market Overview:

The growing popularity of the cloud is due to the variety of services provided by cloud providers. Cloud Professional Services vendors have also expanded their offerings by combining new technologies such as AI and ML with cloud platforms, resulting in the creation of an ecosystem for clients. Organizations are increasingly turning to cloud professional services due to factors such as increased efficiency, risk mitigation, lower costs, and increased competition. In addition, cloud service providers and vendors have formed strategic alliances to make cloud adoption a seamless experience for customers.

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  • Introduction, Overview, and in-depth industry analysis are all included in the 2022 updated report.

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  • Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2022

  • Includes Tables and figures have been updated

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  • Facts and Factors research methodology

(Please note that the sample of this report has been modified to include the COVID-19 impact study prior to delivery.)

Key Insights from Primary Research

  • As per the analysis, the Cloud Professional Services market is likely to grow above a CAGR of around 16.80% between 2022 and 2028.

  • The Cloud Professional Services market size was worth around US$ 14.7Billion in 2021 and is estimated to hit approximately US$ 37.3Billion by 2028. Due to a variety of driving factors, the market is predicted to rise at a significant rate.

  • By the service type, the consulting segment will remain stable during the forecast period.

  • By the deployment model, the public cloud segment will have a larger market share during the forecast period.

  • On the basis of Geography, the “APAC is one of the fastest-growing regions” will likely overtake the global market.

Competitive Players

The report contains qualitative and quantitative research on the global Cloud Professional Services Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company's global presence, competitors, service offers, and standards.

Some of the main players in the global Cloud Professional Services market include:

  • Accenture (Ireland)

  • IBM (US)

  • Deloitte (UK)

  • EY (UK)

  • PwC (UK)

  • HPE (US)

  • Wipro (India)

  • HCL (India)

  • TCS (India)

  • Capgemini (France)

  • Atos (France)

  • Cisco (US)

  • Cognizant (India)

  • DXC (US)

  • Hitachi Vantara (US)

  • Infosys (India)

  • LTI (India)

  • NTT Data (Japan)

  • Rackspace (US)

  • T-Systems (Germany)

  • AWS (US)

  • Google (US)

  • Microsoft (US)

  • Fujitsu (Japan)

  • Alibaba Cloud (China)

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Market Growth Drivers

The widespread adoption of robotics as a result of emerging automation trends in manufacturing processes is also driving up demand for cloud professional services to deploy robotic applications on the cloud. In addition, service providers are integrating cloud platforms with analytics tools, artificial intelligence (AI), machine learning (ML), and development and operations (DevOps) to operate a hybrid cloud environment. This, combined with a growing emphasis on developing an agile information technology (IT) environment to remain competitive in changing market conditions, is propelling the market growth. Furthermore, the growing use of remote working models as a result of the coronavirus disease (COVID-19) outbreak is increasing the demand for cloud computing solutions to ensure business continuity. This, in turn, is expected to boost the market growth.

Cloud Professional Services Market: COVID-19 Impact Analysis

A significant number of businesses have revised their rules and regulations in preparation for COVID-19 in order to maximise the protection of their workforce. The primary cause of the disruption to the business was the inability to relocate employees and coordinate human resources in the same manner as before. Because of the inability to travel and cross borders, as well as the social distance that has resulted as a result of this, businesses have been forced to change their operating models and reconsider operational decisions. In order to combat the COVID-19 pandemic, governments are working closely with cloud providers. For instance, the White House has announced the formation of the COVID-19 High-Performance Computing Consortium. This consortium will provide global COVID-19 researchers with access to the world's most powerful high-performance computing resources. These resources have the potential to significantly accelerate the rate of scientific discovery in an effort to stop the virus.

The comprehensive research study investigates the cloud professional services market by looking at both the qualitative and quantitative aspects of the market. Research has been done looking into the market from both the demand and supply perspectives. Before comparing it to the income in all of the major countries, the demand side study analyses market income in a number of different regions. The research on the supply side looks at the leading competitors in the industry, as well as their presence in regional and global markets and their strategies. We conduct in-depth research across the globe, including in every significant nation in North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.

Browse the full “Cloud Professional Services Market By Service Type (Consulting, Application Development and Modernization, Implementation and Migration, Integration and Optimization), By Deployment Mode (Public Cloud, Private Cloud), By Organization Size (Small and Medium-sized Enterprises (SMEs), Large Enterprises), By Verticals (BFSI, Manufacturing, Healthcare and Lifesciences, IT and ITES, Government, Telecommunications, Retail and Consumer Goods, Energy and utilities, Others), and By Region - Global Industry Overview, Market Size, Statistical Research, Market Intelligence, Comprehensive Analysis, Historical Trends, and Forecast 2022–2028"  report at https://www.fnfresearch.com/cloud-professional-services-market

Cloud Professional Services Market: Segmentation Analysis

The consulting segment will remain stable during the forecast period, based on service type. Cloud professional services vendors offer consulting services to users who are unfamiliar with upgrading their current enterprise infrastructure. Users who want to upgrade their infrastructure can benefit from the expertise of cloud professional service providers, who specialize in the deployment of cloud-based systems across industry-specific use cases, assisting in the implementation of the right mix of services. Implementation services assist clients in meeting their business objectives more quickly by planning, gaining access to current systems, performing quality validation and verification, and providing support.

Based on the verticals, the healthcare industry segment would show a promising CAGR during the forecast period. The use of cloud professional services is increasing across the healthcare industry because data can be easily shared among medical service vendors. Organizations are constantly striving to provide medical assistance using devices in order to improve medication adherence, reduce emergency room visits, and decrease hospital readmissions.

Regional Analysis:

Due to the presence of the world's two largest economies, India and China, Asia-Pacific will experience the fastest growth in the professional cloud services market. Both countries' economies are expanding, with China experiencing explosive growth in its industrial sector, while India's growth has been fuelled by the expansion of service-producing industries. In terms of growth, emerging markets have taken the lead. Per-user speeds increased in India, China, Indonesia, and Vietnam. In terms of cloud regulation, APAC economies have a slight advantage. This is the result of recent steps to strengthen the frameworks for privacy and intellectual property.

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Key questions answered in this report:

  • What is the market size and growth rate forecast for Cloud Professional Services industry?

  • What is the main driving factors propelling the Cloud Professional Services Market forward?

  • What are the leading companies in the Cloud Professional Services Industry?

  • What segments does the Cloud Professional Services Market cover?

  • How can I receive a free copy of the Cloud Professional Services Market sample report and company profiles?

Report Scope:

Report Attribute

Details

Market Size in 2021

USD 14.7 Billion

Projected Market Size in 2028

USD 37.3 Billion

CAGR Growth Rate

16.80% CAGR

Base Year

2021

Forecast Years

2022-2028

Key Market Players

Accenture (Ireland), IBM (US), Deloitte (UK), EY (UK), PwC (UK), HPE (US), Wipro (India), HCL (India), TCS (India), Capgemini (France), Atos (France), Cisco (US), Cognizant (India), DXC (US), Hitachi Vantara (US), Infosys (India), LTI (India), NTT Data (Japan), Rackspace (US), T-Systems (Germany), AWS (US), Google (US), Microsoft (US), Fujitsu (Japan), Alibaba Cloud (China), and Others

Key Segment

By Service Type, Deployment Mode, Organization Size, Verticals, and Region

Major Regions Covered

North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa

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The global Cloud Professional Services market is segmented as follows:

By Service Type

  • Consulting

  • Application Development and Modernization

  • Implementation and Migration

  • Integration and Optimization

By Deployment Mode

  • Public Cloud

  • Private Cloud

By Organization Size

  • Small and Medium-sized Enterprises (SMEs)

  • Large Enterprises

By Verticals

  • BFSI

  • Manufacturing

  • Healthcare and Lifesciences

  • IT and ITES

  • Government

  • Telecommunications

  • Retail and Consumer Goods

  • Energy and Utilities

  • Others

By Region

  • North America

  • Europe

  • Asia Pacific

  • The Middle East & Africa

  • Latin America

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Key Offerings:

  • Market Size, Trends, & Forecast by Revenue | 2022−2028

  • Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities

  • Market Segmentation – A detailed analysis by Service Type, Deployment Mode, Organization Size, Verticals, and Region

  • Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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