Cloud Professional Services Market Size Worth $ 62.51 Billion By 2030 | CAGR: 17.1%

The global cloud professional services market size is expected to reach USD 62.51 billion by 2030, according to a new study by Polaris market research. The report “Cloud Professional Services Market Share, Size, Trends, Industry Analysis Report, By Service Type; By Deployment model (Public, Private); By Verticals Type; By Region; Segment Forecast, 2022-2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The increasing adoption of WFH model with growing digitalization drives market growth. Consumer awareness of the benefits of adopting cloud professional services has significantly increased. Many small and medium-sized, and large enterprises are receptive to using might services across a wide range of industries, including telecommunication and IT, healthcare, the public sector, and others.

Increased adoption of robotics due to developing automation trends in manufacturing processes is also increasing the need for these services to install robotic applications in the cloud. Additionally, in order to run a hybrid cloud environment, service providers are merging cloud platforms with analytics techniques, AI, ML, and DevOps. This, along with an increasing emphasis on establishing an agile information technology infrastructure in order to remain competitive in shifting market conditions, is fueling market expansion.

For instance, users of any skill level can use machine learning features like language processing, image recognition tools, and recommender systems thanks to cloud-based as-a-service platforms. Additionally, there is a growing trend toward adopting hybrid or multi-cloud setups, in which customers select the specific components of service providers' offers that best match their needs.

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The COVID-19 pandemic has greatly increased demand for cloud professional services. This is because companies worldwide have invested more in cloud-delivered services and have plans to do so in the future. The COVID-19 pandemic has highlighted advantages of cloud computing systems like agility, innovation, and a high level of automation. Adopters have also been prepared for an unknowable future impact on their industry.

For instance, manufacturing facilities worldwide have closed, and car sales are at an all-time low. The trend toward home and remote working, on the other hand, has led to significant growth in demand for the industries related to internet service providers (ISPs), IT infrastructure, cloud computing, and data centers, notwithstanding the downturn. Due to the pandemic, businesses must invest more to facilitate remote work and modify business procedures.

Cloud Professional Services Market Report Highlights

• The market size for the consulting segment is anticipated to be the highest over the forecast period. Expert cloud services companies provide consulting services to customers with limited knowledge required to update their current corporate infrastructure.
• The hybrid cloud market has evolved at a far quicker rate than other cloud services. Particular advantages can be gained by organizations with huge data volumes and processing requirements.
• Throughout the projection period, the healthcare sector's CAGR would be encouraging. Since data can be quickly shared among medical service providers, the use of cloud professional services is increasing throughout the healthcare sector.
• Asia-Pacific is the largest contributor with fastest market growth due to the rapid advancement in the end-use sector like educational, medical, and BFSI.
• Major players operating in the industry include Accenture, IBM, Deloitte, EY, PwC, HPE, Wipro, and HCL.

Polaris Market Research has segmented the cloud professional services market report based on service type, deployment model, vertical type, and region:

Cloud Professional Services, Service Type Outlook (Revenue - USD Billion, 2018 - 2030)

• Consulting
• Application Development and Modernization
• Implementation and Migration
• Integration and Optimization

Cloud Professional Services, Deployment Model Outlook (Revenue - USD Billion, 2018 - 2030)

• Public
• Private
• Hybrid

Cloud Professional Services, Verticals Type Outlook (Revenue - USD Billion, 2018 - 2030)

• BFSI
• Manufacturing
• Healthcare and Lifesciences
• IT and ITES
• Government
• Telecommunications
• Retail and Consumer Goods
• Energy and utilities
• Others

Cloud Professional Services, Regional Outlook (Revenue - USD Billion, 2018 - 2030)

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
• Latin America
  • Argentina
  • Brazil
  • Mexico
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa