Growing trend of adoption of digitization across prominent industry verticals and rise in focus for low-cost cloud services is expected to drive the demand for global distributed cloud computing market in forecast period.
According to TechSci Research report, “Global Distributed Cloud Computing Market By Services (Data Storage, Networking, Data Security and Others), By End-Use (BFSI, IT & ITeS, Telecommunications, Government, Healthcare, Retail and Others), By Region, Competition Forecast & Opportunities, 2026”, the global distributed cloud computing market is expected to witness the growth of steady CAGR in the forecast period, 2022-2026. Distributed systems involve the services involving different machines and generate the need for data confidentiality, authentication, and message integrity. Distributed cloud provides the system with the facility of authentication, auditing, encryption, and authorization and can keep the data secure even if the machine stopped working owing to the occurrence of any unwanted circumstances. Growing demand for data security, data sharing, and confidentiality among several industry verticals is driving the demand for distributed cloud computing models in the next five years.
The rise in the number of cyber-crimes and fraudulent activities and the ability to scan several transactions per second is expected to lower the occurrence of financial crime. The adoption of distributed cloud computing in financial intuitions while delivering an enhanced experience to customers is expected to fuel market growth. Industries are implementing automation technology to answer the queries of consumers rapidly and efficiently. The increasing demand for internet of things technology owing to the need for real-time monitoring and analysis generates a large volume of data thereby is expected to fuel the demand of distributed cloud computing market in the next five years. The expected roll-out of 5G technology and the high demand for advanced consumer electronics is influencing the market demand.
However, the rise in security and privacy concerns may restrain the growth of the distributed cloud computing market.
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Global distributed cloud computing market is segmented into services, end-use, regional distribution, and company. Based on the services, the market can be divided into data storage, networking, data security, and others. The data storage segment is expected to dominate the distributed cloud computing market in the forecast period, 2022-2026. The growing demand for low-cost data storage services along with the facility for faster data accessibility is influencing the demand for distributed cloud computing services. The rise in concerns regarding data protection and recovery options is contributing to the higher adoption of distributed cloud computing services in organizations.
Based on the end-use, the market can be divided into BFSI, IT & ITeS, telecommunications, government, healthcare, retail, and others. The BFSI end-use segment is expected to account for major market share in the next five years. The surge in demand for cost-effective cloud computing services in addition to the scalable and agile data storage system to store confidential information in the systems is contributing to increasing the distributed cloud computing market growth. The high penetration of the hybrid cloud segment and the growing adoption of digital services and applications is accelerating the adoption rate of distributed cloud computing services in the BFSI industry.
IBM Corporation, Microsoft Corporation, Oracle Corporation, Google LLC, Amazon Web Services, Inc., VMWare, Inc., Verizon Communications, Inc., Alibaba Cloud, SAP SE are the leading players operating in global distributed cloud computing market. Service Providers are increasingly focusing on research and development process to fuel higher growth in the market. To meet evolving customer demand with respect to better efficiency and durability, several distributed cloud computing providers are coming up with their technologically advanced offerings.
“The rise in the disposable income of the consumers and the growing automotive industry is increasing the demand for integration of automation technology to provide an enhanced experience of consumers is influencing the demand of distributed cloud computing market. Implementation of advanced and smart products along with sensors is generating a significant amount of data along with the growing adoption of upcoming technologies such as artificial intelligence, machine learning, internet of things, among others to upgrade the performance and efficiency of vehicles is fueling the demand for the distributed cloud computing market. High-end investments by the market players for technological advancements along with the increasing demand for lower information technology cost is contributing to accelerate the distributed cloud computing market growth till 2026.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
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“Global Distributed Cloud Computing Market By Services (Data Storage, Networking, Data Security and Others), By End-Use (BFSI, IT & ITeS, Telecommunications, Government, Healthcare, Retail and Others), By Region, Competition Forecast & Opportunities, 2026” has evaluated the future growth potential of global distributed cloud computing market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the of global distributed cloud computing market.
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