Connect with us

Technology

Cloud Computing Market to Grow by USD 404.7 Billion from 2024-2028, as Cost-Cutting Drives Adoption with AI Driving Market Transformation – Technavio

Published

on

NEW YORK, Nov. 8, 2024 /PRNewswire/ — Report with the AI impact on market trends – The global cloud computing market size is estimated to grow by USD 404.7 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 15.19% during the forecast period. Increased inclination toward cloud computing for cost-cutting is driving market growth, with a trend towards increased inclination for private cloud for enhanced data security. However, system integration issues poses a challenge. Key market players include Adobe Inc., Alibaba Group Holding Ltd., Alphabet Inc., Amazon.com Inc., Cisco Systems Inc., Citrix Systems Inc., Dell Technologies Inc., Hewlett Packard Enterprise Co., Huawei Technologies Co. Ltd., International Business Machines Corp., Microsoft Corp., NetApp Inc., Nutanix Inc., Oracle Corp., Rackspace Technology Inc., Red Hat Inc., Salesforce Inc., SAP SE, Tata Consultancy Services Ltd., and VMware Inc..

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View Free Sample PDF

Cloud Computing Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 15.19%

Market growth 2024-2028

USD 404.7 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

12.86

Regional analysis

North America, APAC, Europe, South America, and Middle East and Africa

Performing market contribution

North America at 48%

Key countries

US, China, Canada, UK, and Germany

Key companies profiled

Adobe Inc., Alibaba Group Holding Ltd., Alphabet Inc., Amazon.com Inc., Cisco Systems Inc., Citrix Systems Inc., Dell Technologies Inc., Hewlett Packard Enterprise Co., Huawei Technologies Co. Ltd., International Business Machines Corp., Microsoft Corp., NetApp Inc., Nutanix Inc., Oracle Corp., Rackspace Technology Inc., Red Hat Inc., Salesforce Inc., SAP SE, Tata Consultancy Services Ltd., and VMware Inc.

Market Driver

The security and compliance concerns surrounding public cloud solutions have hindered their adoption among organizations, particularly those in regulated industries like finance and healthcare. Strict regulations, such as the GDPR, restrict data storage locations. Private clouds, on the other hand, offer greater security and control by providing cloud resources to a single enterprise and keeping data within their network. The benefits of private clouds, including security and control, have led to their increasing use by various industries and government agencies. Microsoft’s Azure Government is an example of a private cloud solution catering to government agencies. The global private cloud services market is expected to grow due to these factors and partnerships between organizations. 

The cloud computing market is experiencing significant growth, with companies like Amazon, Microsoft, Google, and IBM leading the way. Technologies such as Artificial Intelligence, Machine Learning, and Big Data are trending in this space. Cloud storage and computing services are becoming essential for businesses due to their flexibility, cost-effectiveness, and scalability. The use of technologies like Containerized Computing and Virtual Machines is increasing, allowing for more efficient use of resources. Additionally, the integration of AI and ML in cloud services is enabling advanced analytics and automation capabilities. The future of cloud computing looks bright, with continued innovation and expansion expected in this dynamic market. 

Request Sample of our comprehensive report now to stay ahead in the AI-driven market evolution!

 Market Challenges

Cloud computing market growth is influenced by enterprises adopting cost-effective IaaS, PaaS, and SaaS solutions. However, challenges arise during system integration. Monolithic applications pose difficulties due to interwoven functionalities. Data migration from various formats is complex, causing interoperability issues. Choosing the right integration tool for hybrid connectivity is essential but challenging. These factors can hinder market expansion.The cloud computing market is experiencing significant growth, with various organizations adopting this technology for its numerous benefits. However, challenges persist in implementing and managing cloud services effectively. Security is a major concern, with the need to protect sensitive data and prevent unauthorized access. Cost management is another challenge, as organizations must optimize their cloud usage to avoid unnecessary expenses. Additionally, ensuring compatibility with existing systems and applications can be complex. Furthermore, the dependence on internet connectivity and potential downtime can impact business operations. Lastly, the choice between public, private, and hybrid cloud models adds to the decision-making process. Addressing these challenges requires a cloud strategy and effective implementation and management.

Discover how AI is revolutionizing market trends- Get your access now!

Segment Overview

This cloud computing market report extensively covers market segmentation by

Deployment 1.1 Public cloud1.2 Private cloudService 2.1 SaaS2.2 IaaS2.3 PaaSGeography 3.1 North America3.2 APAC3.3 Europe3.4 South America3.5 Middle East and Africa

1.1 Public cloud- In the financial services industry, public cloud computing has become the market leader due to globalization and IT sector growth. SMEs in developing economies drive the demand for business insights solutions. Financial institutions heavily rely on IT infrastructure for optimal performance, security, and connectivity. Vendors offer cloud infrastructure to various industries for data collection and analysis. However, the public cloud segment faces high cyberattack risks, including denial-of-service attacks. These factors contribute to the growth of the global cloud computing market.

Download a Sample of our comprehensive report today to discover how AI-driven innovations are reshaping competitive dynamics

Research Analysis

The Cloud Computing Market is experiencing significant growth due to the increasing adoption of Artificial Intelligence (AI) and Machine Learning (ML) technologies in various industries. Big Data analytics is another key driver, as businesses seek to gain insights from vast amounts of data in real-time. Edge computing and 5G technologies are enabling the processing of data closer to the source, reducing latency and increasing efficiency. The market caters to both large enterprises and private deployment segments, offering Cloud infrastructure services for various applications such as Images and Videos processing, Video-on-Demand, and Real-time analytics. Industrial solutions and Internet of Things (IoT) are also benefiting from the advancements in Cloud computing, with 5G set to further accelerate the trend. Public cloud services continue to dominate the market, providing scalability and flexibility for businesses.

Market Research Overview

Cloud Computing Market refers to the global industry that provides on-demand delivery of computing resources over the internet, including servers, storage, databases, networking, software, analytics, and more. This technology enables businesses and organizations to access and use technology resources without the need for physical infrastructure or hardware. The Cloud Computing Market is growing rapidly due to the increasing demand for flexibility, scalability, and cost savings. The market is segmented based on deployment models (Public, Private, and Hybrid), service models (IaaS, PaaS, and SaaS), and regions. The market is driven by factors such as the increasing adoption of digital transformation, the need for business continuity and disaster recovery, and the growing trend of remote work. The market is also facing challenges such as security concerns and data privacy issues. Despite these challenges, the Cloud Computing Market is expected to continue its growth trajectory in the coming years.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

DeploymentPublic CloudPrivate CloudServiceSaaSIaaSPaaSGeographyNorth AmericaAPACEuropeSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/cloud-computing-market-to-grow-by-usd-404-7-billion-from-2024-2028–as-cost-cutting-drives-adoption-with-ai-driving-market-transformation—technavio-302299380.html

SOURCE Technavio

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Securus Technologies Seeks to Support Incarcerated Individuals in Reshaping their Futures With Expanded Access to Educational Programs Available Through Tablet Technology

Published

on

By

Spending time on education and skill-building while incarcerated promotes stronger re-entry outcomes

DALLAS, Nov. 12, 2024 /PRNewswire/ — Over the past five years, Securus Technologies has expanded opportunities for incarcerated individuals to access and benefit from education resources that promote stronger reentry outcomes. As an Aventiv Technologies company and the leading provider of connections between incarcerated individuals and their loved ones, Securus offers free and premium access to educational, vocational, and rehabilitative curricula. The company also enables connections to scholarships and mentorship through ScholarCHIPS, a nonprofit supporting children of incarcerated parents. By investing more than $600 million to deploy technology, including 600,000 tablets in correctional facilities nationwide, Securus aims to close the education gap affecting justice-impacted families.

According to the Prison Policy Institute, formerly incarcerated individuals are nearly twice as likely to lack a high school credential and eight times less likely to complete college than the general public. Yet, according to the Vera Institute, incarcerated individuals who participate in educational programs are 52 percent more likely to remain in their communities, demonstrating that education is a critical factor in breaking the cycle of recidivism.

“Technology offers a scaled solution to connect incarcerated individuals to educational and job training resources that help break the recidivism cycle,” said Kevin Elder, President, Securus Technologies. “More than 600,000 Securus tablets available in corrections facilities nationwide offer free and premium content that encourage learning and skill building. Our offerings from 22 colleges and universities have connected more than 17,000 incarcerated learners to post-secondary education equating to more than 300,000 credit hours, positively impacting the trajectory of their own lives, and those of their families and communities.”

Securus remains committed to using technology to help bridge the digital divide, connecting justice-impacted individuals to high-quality content and resources, to help them plan their path to reentry starting on day one:

With Edovo, a tech nonprofit providing free educational and vocational curricula, Securus connects incarcerated learners to free skill-building programs via a cloud-based platform. To date, using Securus devices, Edovo has delivered over 3.27 million educational hours to more than 500,000 incarcerated individuals in more than 550 corrections facilities nationwideSecurus has a partnership with Essential Education, a platform that provides incarcerated individuals access to premium education and reentry programming, including GED prep, HiSET prep, computer competency, and financial literacy, among other offerings. The platform brings flexibility for self-paced, adaptive lessons to corrections tablets, supplementing classroom-specific instruction. More than 2,700 students have accessed Essential Education on Securus devices, logging 400 plus study hours in preparation for a high school equivalency examVia a partnership with JSTOR, a digital library of academic journals, books, and primary sources, incarcerated individuals in the Florida Department of Corrections can access a digital academic research library, providing access to millions of journal articles, books, and images, spanning hundreds of disciplines at no cost. JSTOR is coming to Securus tablets in the Missouri Department of Corrections and the Arizona Department of Corrections, Rehabilitation, and Re-EntryIn May 2024, Securus partnered with Tooling U, a workforce development organization that produces software, certifications, and content for the manufacturing industry for free for incarcerated individuals. To date, 21 students completed the program, of which,12 earned their Certified Manufacturing Associate’s certification and eight returned home to secure employment

Securus recognizes that the education gap affects more than just those within correctional facilities. Nationally, 2.7 million children—about the population of Mississippi—have an incarcerated parent. These children may encounter barriers to academic success, including higher rates of special education placement, reduced school retention, and increased delinquency. Securus’s partnership with ScholarCHIPS, a nonprofit providing scholarships and mentorship to children of incarcerated parents, can help correct this critical challenge by connecting youth impacted by the justice system to resources that allow them to pursue their education.

“All too often, the children of incarcerated individuals face significant challenges in pursuing their academic and career dreams, reducing their chance to create change within themselves, their families, and their communities,” said Yasmine Arrington Brooks, Founder and Executive Director of ScholarCHIPS. “Growing up as a justice-impacted individual, I searched for ways to bridge the financial gap so I could complete my college education and then founded ScholarCHIPS to provide justice-impacted youth with opportunities to pursue higher education and break out of cycles of poverty and incarceration.”

Since its inception, ScholarCHIPS has awarded over $500,000 in scholarships to 100 young people, including more than 2,500 hours of mentorship. To date, ScholarCHIPS has seen 45 scholars through to college graduation, and ninety percent of scholars are on track to graduate from college within the next five years. In 2024, Securus made the ScholarCHIPS application and award process available across its 600,000 tablets nationwide, resulting in a 900 percent increase in scholarship applications across 27 states. As a result of this work, ScholarCHIPS has been selected by the International Academy of Digital Arts & Sciences as a finalist for The Anthem Awards in several categories.

“National Education Month is a time to celebrate the power of learning, recognizing children of incarcerated parents can face entirely different obstacles when navigating the educational system,” said Anye Young, a ScholarCHIPS recipient and current Community Engagement Intern at Aventiv. “Thanks to ScholarCHIPS, I attended the University of Southern California, earned my degree, and now work for Aventiv in a community engagement role where I am helping identify programming and partnerships that allow justice-impacted families to feel supported, connected, and empowered.”

Education provides incarcerated individuals with hope and purpose. Securus is committed to expanding access to education across correctional facilities nationwide, so incarcerated individuals have the opportunity and tools to succeed.

About Securus Technologies
Headquartered in Plano, Texas, Securus Technologies® (Securus) is an Aventiv Technologies company that serves more than 1,800 public safety, law enforcement, and corrections agencies as well as over 1,000,000 incarcerated individuals across North America. Founded in 1986, Securus offers innovative solutions like phone and video connections and e-messaging, which connect family and friends to their incarcerated loved ones. Their secure monitoring and investigative solutions aid law enforcement and correctional facility staff in their operations and efforts to maintain public safety in communities nationwide. As the pioneers of tablet technology, Securus introduced the first corrections-grade tablet in 2011, revolutionizing how communication, entertainment, reentry, and educational resources are deployed in complex corrections environments, elevating efficiency in operations and stronger reentry outcomes. For more information, please visit https://www.aventiv.com/securus-technologies/ or follow us on social media on LinkedIn, YouTube, and Facebook.

About Edovo
At Edovo, we are committed to making a real difference in the lives of incarcerated individuals. We believe that education is a powerful tool for transformation, and we have seen firsthand how our programming can help incarcerated learners build skills, improve their outlook, and prepare for a successful reentry into society. Our story began in 2012 when our founder, Brian Hill, recognized a need for better educational opportunities in correctional facilities. Since then, we have grown from a small startup to a national leader within correctional education and rehabilitation, establishing partnerships with some of the most respected organizations in the field of corrections, education and rehabilitation while serving hundreds of correctional facilities and tens of thousands of incarcerated learners across the country. To learn more about Edovo, please visit us here: https://www.edovo.org/

About Essential Education
Since 2002, Essential Education has empowered over 4.5 million adults to achieve their life goals through their award-winning online learning system and print materials. Their innovative solutions have revolutionized adult education by providing an array of programs that cater to the diverse needs of adult learners. From comprehensive low-level adult basic education to high school equivalency test preparation and essential workforce readiness skills, they have reshaped the landscape of adult education. Their programs are thoughtfully designed to assist educators in achieving their desired success, offering a guided pathway for each student that seamlessly supports both traditional classrooms and virtual learning environments.

About ScholarCHIPS
ScholarCHIPS, Inc. is a Washington, D.C.-based nonprofit organization that provides college scholarships, mentoring, and peer support to children of incarcerated parents, inspiring them to complete their college education. To learn more, visit https://www.scholarchipsfund.org/, and follow them on Facebook, Instagram, X, YouTube, and LinkedIn.

View original content to download multimedia:https://www.prnewswire.com/news-releases/securus-technologies-seeks-to-support-incarcerated-individuals-in-reshaping-their-futures-with-expanded-access-to-educational-programs-available-through-tablet-technology-302303234.html

SOURCE Securus Technologies

Continue Reading

Technology

Permuta Awarded 2024 Hire Vets Small Gold Medallion for Veteran Employment Excellence

Published

on

By

TYSONS CORNER, Va. , Nov. 12, 2024 /PRNewswire/ — With November being National Veterans and Military Families Month (NVMFM), Permuta is honored to announce that Acting U.S. Secretary of Labor Julie A. Su recognized our company as one of the 839 recipients of the 2024 Hire Vets Gold Medallion Award during a virtual ceremony. We proudly earned the Small Gold award after applying earlier this year and meeting the qualifications. The Hire Vets Medallion Award recognizes businesses that show an unparalleled commitment to recruiting, hiring, and retaining veterans.

Recipients of the 2024 Hire Vets Medallion Awards, including Permuta, meet rigorous criteria for veteran employment and integration. These standards range from veteran hiring and retention to providing tailored resources, leadership opportunities, human resources support, competitive compensation, and tuition assistance programs. With veterans comprising over 65% of our workforce, Permuta is uniquely equipped to design solutions that truly support the government, built by those who have served.

“Our mission has always been driven by veterans’ commitment to service,” said Sig Behrens, CEO of Permuta. “Receiving the Hire Vets Gold Medallion reflects the dedication and expertise our veteran team members bring to our work every day. Their experience is the foundation of our success in delivering impactful, mission-focused solutions to the government.”

We are deeply proud to receive this prestigious award, and we hope you share in our excitement. Join us in celebrating this achievement with family, friends, and colleagues. To learn more about the award, visit HIREVets.gov.

About Permuta
Permuta Technologies Inc. (www.permuta.com), is a privately owned software manufacturer which creates on-premises, cloud-hosted, and SaaS software, and AI, tailored for military and civilian organizations. With deep experience in the government, Permuta understands the challenges agencies face to protect and meet mission-critical initiatives. As a trusted leader in delivering solutions built and designed for government, Permuta is committed to increasing effectiveness and readiness so agencies can confidently execute their mission. Their products, built on the Microsoft Power Platform and Microsoft Dynamics 365 are the only solutions in the market that cover all federal readiness management needs in one system, including force readiness, training, performance and asset management, medical readiness, mission planning and more.

View original content to download multimedia:https://www.prnewswire.com/news-releases/permuta-awarded-2024-hire-vets-small-gold-medallion-for-veteran-employment-excellence-302303248.html

SOURCE Permuta Technologies, Inc.

Continue Reading

Technology

Shimadzu Corporation receives a prestigious design award

Published

on

By

LONG BEACH, Calif., Nov. 12, 2024 /PRNewswire/ — Shimadzu Medical Systems USA, a subsidiary of Shimadzu Corporation, is pleased to announce the Trinias series with SCORE Opera has been honored with the prestigious design award: Red Dot Design Award 2024 in the Brands & Communication Design, Interface & User Experience Design category!

Trinias with Score Opera will be on display at RSNA 2024 (booth #1329 in the South Hall) McCormick Place in Chicago

This is the first time a Shimadzu product has received an award in this category, highlighting our commitment to excellence in innovation and design.

The Red Dot Design Award is one of the world’s largest design competitions organized by the Design Zentrum Nordrhein Westfalen in Germany.

The Brands & Communication Design award, which Trinias won, honors products and services that demonstrate design excellence in a variety of categories, including branding, advertising, packaging design, UI (user interface), and UX (user experience).

The award reflects the focused effort by the R&D team on Lean Design in the Trinias with Score Opera. Lean Design was pursued to provide outstanding user experience and workflow.

Excellent interface and user experience design of Trinias include:

Bedside Control Modules: Simple operation and customizability to help you achieve your optimal workflow.

The touch panel control “SMART Touch”:
Complex operations can be executed in a single step. Single-step operations reduce the number of actions required, allowing you to quickly grasp icons and learn easily, even for first-time use.

Trinias with Score Opera will be on display at RSNA 2024 (booth #1329 in the South Hall) McCormick Place in Chicago. Smart Voice, voice recognition for tableside operation will be demonstrated daily throughout the exhibition dates (December 1-4).

About Shimadzu Medical Systems USA
Shimadzu Corporation, founded in 1875 in Kyoto, Japan and the parent of Shimadzu Precision Instruments, Inc. doing business as Shimadzu Medical Systems USA (SMS), is a global provider of medical diagnostic equipment including conventional, interventional, and digital X-Ray systems. Shimadzu Medical Systems USA is headquartered in Long Beach, CA with Sales and Service offices throughout the United States, the Caribbean and Direct Operations located in Dallas, TX, Kenmore, WA, Vacaville, CA, and the greater Chicago area. Visit SMS at: www.shimadzu-usa.com or call (800) 228-1429.

For further information contact:
Frank Serrao
serrao@shimadzu-usa.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/shimadzu-corporation-receives-a-prestigious-design-award-302303247.html

SOURCE Shimadzu Medical Systems USA

Continue Reading

Trending