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Explore the latest trends and actionable insights on the Cloud Computing market to inform business strategy and pinpoint opportunities and risks

Market Size of Cloud Computing as a Software (2019 - 2021, $ Billion)

Industry: Cloud Services
Current: Thematic Indicators

Market size of cloud computing as a software increased from $12.4 billion in 2019 to $16.3 billion in 2021
Cloud computing as software is a segment of cloud computing
To use cloud computing as software, the organization only has to pay licensing fee for each user

Servers that can be accessed over the internet are called the cloud. These servers are capable of running different types of software and databases. Data centers house cloud servers globally. A data center is a dedicated facility that houses many networked computers, which work together to process, store, and share data. Organizations use data centers for the remote storage of data through the cloud.

Every business thrives on data and spends a vast amount on the maintenance of this data. A robust IT infrastructure is essential to maintain the data, and not every organization can afford expensive IT infrastructure services. Hence, cloud computing is a good alternative for such organizations. Cloud computing refers to the ability to access data and computing services over the internet. Cloud computing as software is a segment of cloud computing.

Traditional software needs a support specialist for software installation and maintenance. However, for cloud computing as software, the organization only has to pay licensing fee for each user or computer station where the software will be installed. The server has to be established within the organization to handle all the data. The market size of cloud computing as software increased from $12.4 billion in 2019 to $16.3 billion in 2021. The market size of cloud computing as software grew at a CAGR of 14.5% between 2019 and 2021.

Cloud computing as software proved to be very useful across the world. It enables users to access data any time, anywhere as long as there is a stable internet connection. It also offers unlimited storage capacity, and enables multiple users to access information from any device. Using cloud computing as software not only lowers the company’s IT expenses and overheads but also improves productivity, and scalability of the business processes.

Explore the latest trends and actionable insights on the Cloud Computing market to inform business strategy and pinpoint opportunities and risks Explore the latest trends and actionable insights on the Cloud Computing market to inform business strategy and pinpoint opportunities and risks Visit Report Store