Cloud Professional Services Market
How Are the key drivers contributing to the expansion of the cloud professional services market?
The anticipated expansion of the cloud professional services market is largely driven by an increasing emphasis on the digitization of business procedures. This entails the utilization of digital tools to control and digitally handle data, transforming production and other business operations into more efficient, fruitful, and revenue-generating entities. Such digitization frequently involves the use of cloud professional services. This leads to augmented spending on digitalization, and the gathering and storage of data and sensitive information in a cloud setting, ultimately reducing risks and boosting business outcomes, while also facilitating the seamless execution of remote work. For example, Whatfix, an Indian SaaS-based digital adoption platform, projected in October 2023 that global IT expenditure would ascend to $5 trillion in 2024, exhibiting an 8.6% growth from 2023. This surge underscores the escalating importance companies are assigning to digital technologies to refine operations and meet shifting market requirements. Consequently, digitization is fueling the expansion of the cloud professional services market.
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What growth opportunities are expected to drive the cloud professional services market’s CAGR through 2034?
The market size of cloud professional services has witnessed quick expansion in the past few years. The projections suggest an upsurge from $33.72 billion in 2024 to $38.96 billion in 2025 with a compound annual growth rate (CAGR) of 15.5%. This significant increase in the historical phase stems from the focus on cost efficiency, security issues, scalability pursuits, compliance needs, data administration hurdles, and business continuity strategies.
In the coming years, the cloud professional services market is anticipated to experience tremendous expansion. The market size is projected to balloon to $81.35 billion by 2029, registering a compound annual growth rate (CAGR) of 20.2%. Factors such as multi-cloud strategies, containerization and microservices, serverless computing, an emphasis on cloud-native development, data governance, and customer experience optimization are considered to contribute to this growth during the prediction period. Major trends to watch out for during this period include heightened cloud adoption, emphasis on cloud security and compliance, modernizing and migrating services, data management and analytics focus in the cloud, wrapping up in containerization and enhanced Kubernetes adoption, and exploring quantum computing likely.
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What are the emerging trends shaping the future of the cloud professional services market?
Technological advancements are the driving trend in the cloud professional services industry. Major corporations in this market are leveraging new technology to maintain their competitive edge. For example, Sygitech Cloud Solutions, an Indian IT service firm, unveiled two new technology platforms, SygiOps and SygiCloudSync, in July 2022. These platforms are designed to decrease the human component and errors in tasks, thereby lightening the workload of IT workers and enhancing productivity through automation of their primary routine tasks. This automated cloud technology facilitates autonomous data storage without the need for human intervention.
Which growth-oriented segments of the cloud professional services market are leading the industry’s development?
The cloud professional services market size has grown rapidly in recent years. It will grow from $33.72 billion in 2024 to $38.96 billion in 2025 at a compound annual growth rate (CAGR) of 15.5%. The growth in the historic period can be attributed to cost efficiency focus, security concerns, scalability demands, compliance requirements, data management challenges, business continuity planning.
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What regions are leading the charge in the cloud professional services market?
North America was the largest region in the cloud professional services market in 2024. Asia-Pacific is expected to be fastest growing region in the cloud professional services market report forecast period. The regions covered in the cloud professional services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What companies are at the forefront of innovation in the cloud professional services market?
Major companies operating in the cloud professional services market are accenture* PLC, HCL Technologies Ltd., Cognizant Technology Solutions India Pvt Ltd., Capgemini SE, Cisco Systems Inc., DXC Technology Company, Hitachi Vantara Corporation, Infosys Limited, NTT Data Corporation, Amazon.com Inc., Deloitte Touche Tohmatsu Limited, Ernst & Young Global Limited, Fujitsu Limited, Wipro Limited, PricewaterhouseCoopers International Limited, Google LLC, Microsoft Corporation, Alibaba Group Holding Limited, Hewlett Packard Enterprise Company, International Business Machines Corporation, T-Systems International GmbH, Rackspace Technology Inc., SAP SE, StackOverdrive.io LLC, Renova Cloud Company Limited, Advascale SIA, Gorilla Logic LLC, BlueSoft Sp. Z.o.o, Turing Enterprises Inc., Cubex Systems Pty Ltd., Debuide Technologies (OPC) Pvt. Ltd., Exodata LLC, Tata Consultancy Services Ltd., Coastal Cloud LLC, OpenText Corp., CompuData Inc., Spaulding Ridge Enterprises London Llimited, Navisite LLC, Assured Technology Pvt. Ltd., Tech Mahindra Ltd., Atos Information Technology Incorporated, Cloudreach Europe Ltd.
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What Is Covered In The Cloud Professional Services Global Market Report?
• Market Size Forecast: Examine the cloud professional services market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the cloud professional services market for a structured understanding.
• Key Players Overview: Analyze major players in the cloud professional services market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the cloud professional services market.
• Segment Contributions: Evaluate how different segments drive overall growth in the cloud professional services market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the cloud professional services market.
• Industry Challenges: Identify potential risks and obstacles affecting the cloud professional services market.
• Competitive Landscape: Review strategic developments in the cloud professional services market, including expansions, agreements, and new product launches.
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