Report Ocean has released a research study titled “Cloud Professional Services Market 2023 Forecast to 2031 Analysis by Market Trends.” This study offers precise economic forecasts, global assessments, and country-level insights. It provides a comprehensive view of the competitive market and includes an in-depth supply chain analysis to identify significant industry changes. The study explores the current market status, anticipated future growth, technological advancements, investment opportunities, market economics, and financial data. It thoroughly examines the market and offers insights based on a SWOT analysis of the industry.
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.
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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 2020-2027. 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.
Major market player included in this report are:
Accenture
IBM
EY
Deloitte
PwC
Wipro
HCL
TCS
Capgemini
Atos
DXC Technology
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MARKET OVERVIEW
Here’s an in-depth analysis of the Cloud Professional Services market across industries.
- Cloud Adoption and Digital Transformation: The Cloud Professional Services market is experiencing significant growth due to increased cloud adoption across industries. Businesses are leveraging cloud services to undergo digital transformation, improving agility, scalability, and cost-efficiency.
- Consulting and Advisory Services: Cloud professional services encompass consulting and advisory services that assist businesses in developing cloud migration strategies, selecting suitable cloud platforms, and optimizing existing cloud infrastructure for specific industry needs.
- Cloud Migration and Integration Services: Service providers offer expertise in migrating on-premises systems to the cloud and integrating diverse applications across hybrid or multi-cloud environments. These services ensure seamless transitions and interoperability.
- Managed Services and Support: Managed cloud services provide ongoing support, maintenance, and monitoring of cloud infrastructure, ensuring security, performance optimization, and compliance with industry standards.
- Industry-specific Solutions: Cloud professional services cater to industry-specific requirements such as healthcare, finance, manufacturing, and retail. Tailored cloud solutions address unique challenges and compliance regulations within each sector.
- Data Security and Compliance Expertise: Service providers focus on ensuring robust data security measures and compliance adherence (such as GDPR, HIPAA, or PCI DSS) within cloud environments to safeguard sensitive information.
- Hybrid and Multi-Cloud Deployments: With the increasing adoption of hybrid and multi-cloud strategies, professional services assist businesses in managing and orchestrating workloads across different cloud environments for optimized performance and cost efficiency.
- AI and Automation Integration: Cloud professional services incorporate AI and automation for optimizing cloud operations, predictive analytics, and intelligent resource allocation, enabling cost savings and enhanced performance.
- Training and Skill Development: Service providers offer training programs and skill development initiatives to enable enterprises and their employees to effectively utilize cloud platforms, tools, and services, fostering a culture of continuous learning and innovation.
- Market Competitiveness and Differentiation: Competition among cloud professional service providers drives innovation and differentiation. Service quality, cost-effectiveness, specialized expertise, and the ability to provide end-to-end solutions are critical for market competitiveness.
The detailed segments and sub-segment of the market are explained below:
By Service Type:
Consulting
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:
BFSI
Manufacturing
Healthcare and Lifesciences
IT and ITES
Government
Telecommunications
Retail and Consumer Goods
Energy and utilities
Others
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
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