Cloud Computing Market Size & Share Is Expected 18.0% CAGR Rise, Will Hit to $1,418.09 Billion Globally by 2028 (With COVID-19 Analysis): Polaris Market Research

The latest published new report by Polaris Market Research The global cloud computing market was valued at $ 371.35 billion in 2020 to $1,418.09 Billion by 2028 it is estimated to grow at a CAGR of 18.0% from 2021-2028. The factors such as data security, faster Disaster Recovery (DR), reduce storage, higher availability of skilled workforce, a rise of emerging technologies are contributing to the growth of the global cloud computing market.

According to a new study by Polaris Market Research. The report “Cloud Computing Market Share, Size, Trends, Industry Analysis Report, By Service, By Deployment (Public, Private, Hybrid), By Enterprise Size, By End-use, By Region; Segment Forecast, 2021–2028” gives a detailed insight into current market dynamics and provides analysis on future market growth. 

“According to the most recent research study, the demand of global cloud computing market is predicted to be valued at approximately USD 371.35 billion in 2020 and is expected to reach a value of around USD 1,418.09 billion by 2028, at a CAGR of around 18.0% between 2021-2028”

Cloud Computing Market Report Overview :

There are few prominent factors like the growing trend of remote working and increasing expenditure on cloud computing across various industries that are driving the market in the upcoming scenario.

Also, the advent of developing technologies such as machine learning, big data, SaaS, and artificial intelligence (A.I.) allows numerous companies to deploy A.I. proficiencies that facilitate cloud-based technology growth. Moreover, the growing demand for scalable, cost-effective, and secured services & solutions is attributed to the globe’s on-demand computing market growth.

The large enterprise segment is leading the industry with the largest revenue shares owing to the factors such as the deployment of on-demand computing increased flexibility, reduced operational costs, and helps in building applications. The rise in demand of these factors will drive the on-demand computing industry.

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Top key players profiles included in the market:

Adobe Inc.
Google LLC
Alibaba Group Holding Ltd.
DXC Technology
 International Business Machines Corporation
Microsoft Corporation
NEC Corporation
Open Text Corporation
 Oracle Corporation

       *Note: Additional companies can be included on request

The forenamed market is divided into various essential sectors, including service, deployment, enterprise size, end-use, and region. The report gives an intensive study about each segment in accordance with acceptance, value, demand, and growth prospects (2021-2028). Segmentation analysis enables customers to customize their marketing approach to perform better and identify the most prospective customer base. The study document contains an exact evaluation of the upcoming trends and changes observed in consumer behavior.

Key Questions Answered By Report:

What was the global Cloud Computing market size? What are the estimated growth trends and forecasts (2021-2028)?
What will be the CAGR of the market?
Which segments were most attractive for investments?
Which manufacturer/vendor/players in the industry are the market leaders?


The report traces key market drivers, covering potentially lucrative opportunities and challenges as well as drivers, obstacles, issues, and risks. The research methodology includes interviews with various representatives of the global Cloud Computing industry along with primary and secondary research to offer the clients information and strategies to fight against the challenges amidst and after the COVID-19 pandemic.


Cloud Computing Market Report Scope

Report Attributes


Market size value in 2020

USD 371.35 billion

Revenue forecast in 2028

USD 1418.09 billion


18.0% from 2021 – 2028

Base year


Historical data

2016 – 2019

Forecast period

2021 – 2028

Key Companies

Adobe Inc., Alibaba Group Holding Ltd., Inc., CenturyLink, DigitalOcean, DXC Technology, Fujitsu, Google LLC, Infor, International Business Machines Corporation, Joyent, Microsoft Corporation, and others

Segments covered

By Service, By Deployment, By Enterprise Size, By End-Use, By Region

Regional scope

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

Purchase Options


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Market Extent:

The report additionally surveys both developed & developing regions considered for global Cloud Computing Market. The regional analysis offers readers a comprehensive overview of various countries and regions to help players plan effective expansion strategies. Geographically, the detailed analysis of consumption, revenue, share and growth rate, historic and forecast of the major regions have been mentioned in the report.

Consulting Firms & Research Institutes
Government bodies such as regulating authorities and policymakers
Industry rulers & Companies aims to enter the market
Service, Product, & Solution Providers, and other players
Government Bodies and Associated Private Firms
Individuals interested to learn about the market


Impact of COVID-19:

The report analyses the COVID-19 impact on the global Cloud Computing market. The outbreak has spread around the globe with the World Health Organization declaring it a public health emergency. The global effects of coronavirus disease (COVID-19) will significantly affect the market in the forecast period from 2021-2028.

Fundamental Features of Report:

This report contains a detailed global Cloud Computing market analysis and a comprehensive understanding of its commercial landscape.
Various strategies that are being adopted by leading companies are highlighted
It provides a forecast assessed based on how the market is predicted to grow.
It provides insightful analysis of competition dynamics and keeps you ahead of competitors.
Porter’s five forces analysis shows the strength of the buyers and the share of key vendors.
Understanding of the future scope and outlooks.


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Segments Covered in the Report: 

Cloud Computing, Service Outlook (Revenue – USD Billion, 2016 – 2028)

Infrastructure as a Service (IaaS)
Platform as a Service (PaaS)
Software as a Service (SaaS)

Cloud Computing, Deployment Outlook (Revenue – USD Billion, 2016 – 2028)


Cloud Computing, Enterprise Size Outlook (Revenue – USD Billion, 2016 – 2028)

Large Enterprises
Small & Medium Enterprises

Cloud Computing, End-Use Outlook (Revenue – USD Billion, 2016 – 2028)

IT & Telecom
Retail & Consumer Goods
Energy & Utilities
Media & Entertainment
Government & Public Sector

Cloud Computing, Regional Outlook (Revenue – USD Billion, 2016 – 2028)

North America
Asia Pacific
Latin America
Middle East & Africa
Saudi Arabia
South Africa


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About Polaris Market Research

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavour to deliver value-added business solutions to our customers.

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