UNITED STATES CLOUD COMPUTING INDUSTRY SNAPSHOT
- In 2024, the U.S. cloud computing market is expected to achieve a market revenue of US$ 362.82 billion.
- This market is projected to register a compound annual growth rate (CAGR) of 8.97% from 2023 to 2031, resulting in a forecasted market value of US$ 645.13 billion by the end of 2031.
- When compared at a segmental level, in the U.S. cloud computing market Software as a Service (SaaS) segment is expected to generate the highest revenue in 2024.
- In the US cloud computing market, the largest end user sector will be IT and Telecom, with a total market value of US$ 111.91 billion in 2024.
UNITED STATES CLOUD COMPUTING INDUSTRY SCENARIO, TRENDS, AND DEVELOPMENTS
Cloud has become the most talked about technology trend in ICT industry these days. Cloud computing technology has been adopted by all the size of enterprises whether it be large, small or medium businesses to reap the maximum benefits from software as a service (SaaS), platform as a service (PaaS), and infrastructure as a service (IaaS) models. Among these, SaaS model has become more popular among early adopters across end user industries as it offers cost effective and flexible solutions to businesses and customers. However, IaaS is anticipated to witness healthy growth during the forecast period in the United States. Further, increase in digital data across end user verticals owing to proliferation of connected devices and digital platform is fueling growth of cloud based storage and networking services at a significate rate in the country. As cloud computing is emerging as a game changing technology US-based cloud service providers not only performing well in the domestic market but also establishing themselves in other emerging markets in both developed and developing regions. Prominent players are emphasizing more on enhancing their data center capabilities to support cloud operations in order to remain ahead in competition in long run.
The primary catalysts driving the expansion of the US cloud computing market include growing enterprises focus to get better insights and enhanced visibility of operations, ensures easy cross-functional collaboration and enables end users to access data from anywhere, and growing trend of bring your own devices and mobile workforce. Furthermore, efficient connectivity infrastructure in the country is stimulating United States cloud computing market development. However, threat associated with data privacy and security issues, lack of resources and expertise, and lack of data ownership and control are major obstacles impeding US cloud computing market growth. Furthermore, noteworthy advancements and trends have emerged within the US cloud computing industry.
- In January 2023, Amazon Web Services (AWS) unveiled its latest initiative, the "US South 3 (Virginia)" region, aimed at fortifying its cloud infrastructure and broadening its footprint across the eastern United States. This strategic move highlights AWS's dedication to cater the escalating demand for cloud services in the region. Furthermore, Amazon's commitment to inject an additional $35 billion into establishing new data centers in Virginia by 2040 reflects the company's ambitious vision in expanding its cloud infrastructure capabilities.
- In March 2020, the US Navy embarked on a strategic initiative to modernize its torpedo systems, leveraging cutting-edge cloud computing technologies for its submarine fleet. A pivotal aspect of this modernization endeavour involves moving the Submarine Warfare Federated Tactical System to a cloud-based common computing environment. Such moves are accelerating expansion of US cloud computing market.
- Introduced in 2019, the Cloud Smart initiative represents a collaborative endeavour among multiple federal agencies with the overarching goal of streamlining and maximizing cloud adoption within the government sector. Through Cloud Smart, the federal government demonstrated its commitment to harnessing the full potential of cloud technologies while ensuring robust security measures and efficient resource utilization across diverse agencies and departments.
UNITED STATES CLOUD COMPUTING MARKET COMPETITIVE LANDSCAPE
Major companies operating in the US cloud computing market are Amazon Web Services, Microsoft Corporation, IBM Corporation, Oracle Corporation, Google Inc., Rackspace Inc., Dell EMC, VMware, Inc., Hewlett Packard Company, SAP SE, and Fujitsu Ltd. These players are concentrating on adding enhanced security layers on cloud infrastructure to eliminate or minimize threat associated with data breach. This would help cloud vendors to gain end user organization trust and enhance customer base. Also, expansion of product portfolio is one of the major strategies followed by key players in order to become one stop shop and offer bundle solutions and services to customers.
This research report on US cloud computing market would be produced using first-hand market information gathered from industry experts and major participants across the value chain, during primary research. It would provide broad view of current market trends, growth factors and competitive analysis.
UNITED STATES CLOUD COMPUTING MARKET COVERAGE
2019 – 2031
2019 – 2022
2023 – 2031
- Infrastructure as a Service (IaaS)
- Platform as a Service (PaaS)
- Software as a Service (SaaS)
- Public Cloud
- Private Cloud
- Hybrid Clou
- On-Demand Subscription
- Committed Use Subscription
- Package Subscription
- Hybrid Subscription
- Startups & Small Businesses (1-50 employees)
- Mid-Sized Companies (51-250 employees)
- Large Enterprises (251+ employees)
- IT and Telecom
- Media and Entertainment
- Energy and Power
- Transportation and Logistics