Future Market Insights
The demand within the global private cloud services market has been rising on account of advancements in the field of business analytics and information transfer. The presence of a seamless industry for private hosting of cloud networks has given an impetus to the growth of business. Private cloud services are extensively used by business organisations to store, process, and retrieve information pertaining to their firm. This factor has played a vital role in the growth of the global private cloud services market in recent times. Private cloud services include computing schemes and services over a private network to selected users. This helps the end-users in maintaining the integrity and privacy of their operations and communications. Hence, the global demand for private cloud services is projected to touch new heights in the years to come.
The need for security and safety on the cyber space has been rising over the past decade. This factor has directly contributed towards the growth of the global private cloud services market in recent times. Moreover, the use of private cloud services to store tonnes of information that would otherwise take large amount of storage space has also aided market growth.
On the basis of geography, the global private cloud services market has been segmented into North America, Latin America, the Middle East and Africa, Europe, and Asia Pacific. The private cloud services market in North America has been growing alongside advancements in cloud computing. The private cloud services market in Asia Pacific is also projected to expand at a stellar pace.
Global Private Cloud Services Market: Introduction
Cloud computing enables sharing of hosted services utilizing the internet. Enterprises use an array of remote servers which are remotely placed and hosted on the Internet to store, process, manage data rather than a personal computer or a local server. Cloud computing is of various types based on the location of the cloud such as public, private, hybrid and community cloud, and based on service that the cloud is offering such as Software-as-a-Service (SaaS), Platform-as-a-Service (PaaS), Infrastructure-as-a-Service (IaaS), Testing-as-a-Service and others.
Private cloud is an infrastructure network which is remotely located, utilized by one enterprise or customer. The organizations can also choose on-premise private cloud, which is relatedly more expensive and the organizations would not have physical control over the infrastructure. For the enterprises the level of security and control is high while using a private network among others, but the investment in an on-premise cloud infrastructure is high.
The private cloud has similar features as a public cloud, such as self-service, scalability through a proprietary architecture.
Global Private Cloud Services Market: Drivers and Challenges
Organizations are gradually seeking a need to minimize their time spent in maintaining infrastructure without neglecting the performance, elasticity, and control on its offerings. Hence, the enterprises are switching to private cloud services to get benefited by the flexible managed services and full customization of the private cloud services that they want to choose. These factors are driving the growth of global private cloud services market.
However, an initial investment in incurring the private cloud services is significantly high to satisfy the requirements of virtualization and the management of various levels which compose the fabric to deploy, monitor, and operate the environment. The location of data and security breaches are prime concerns in private cloud services that act as challenges for the vendors to attract customers. The above factors are among the prime restraints which hinder the growth of global private cloud market.
Global Private Cloud Services Market: Segmentation
Global private cloud services market can be segmented into type of services, enterprise size, end-users, and region.
On the basis of type of services, global private cloud services market can be segmented into storage, networking, computing, backup and others.
On the basis of enterprise size, global private cloud service market can be segmented into small enterprise, medium enterprise, and large enterprise.
On the basis of end-users, global private cloud services market can be segmented into retail, banking financial services and insurance (BFSI), government and education, energy and utility, IT and telecommunication, transportation and logistics and others
Global Private Cloud Services Market: Regional Outlook
On the basis of regions, global private cloud services market can be segmented into North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan, and the Middle East and Africa
Adoption of private cloud services in North America market is increasing, and this region contributed to the major share of global private cloud services market. Latin America private cloud services market will have a steady growth in the forecast period owing to the growth of cloud computing in the region. Asia Pacific excluding Japan has maximum potential for growth of private cloud services owing to the adoption of digitization and various innovation by companies in cloud services in the countries such as India. Many small and medium enterprises would attract many new vendors in the region having a positive impact on the global private cloud services.
Global Private Cloud Services Market: Competition Landscape
Key vendor in the global private cloud services market includes Amazon.com, Inc. Citrix Systems, Inc., Microsoft Corporation, VMware, Inc. Oracle Corporation, Hewlett-Packard Enterprise Company, Cisco Systems, Inc. and SingleHop LLC
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Regional analysis for private cloud services market includes development of these systems in the following regions:
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