The global COVID-19 impact on cloud computing market accounted for US$ 230 billion in 2019 and is estimated to be US$ 650.3 billion by 2029 and is anticipated to register a CAGR of 11.1%

The report "Global COVID-19 Impact on Cloud Computing Market, By Technology (SaaS, IaaS, and PaaS), By Vertical (Banking Financial Services & Insurance, Healthcare & Life Sciences, IT & ITeS, Retail & Consumer Goods, Telecom, Energy & Utilities, Government & Public Sector, and Manufacturing), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029”.

Key Highlights:

In May 2020, Microsoft introduced a number of new cloud computing services across its UK Azure regions to help keep organizations’ data secure and enable innovation through the use of bots, IoT technology, and more. The company has released 10 new services for its cloud platform in this country, including some that utilize the most cutting-edge cybersecurity technology available today.
In May 2020, Deutsche Börse AG and SAP SE have entered a strategic partnership to advance digitalization and standardize the IT systems of the stock market operator and market structure provider. Their goal is to develop a framework for the secure use of cloud-based SAP services that satisfies the high regulatory requirements of the financial sector. Deutsche Börse is one of the first financial companies to migrate its business processes from on-premise solutions to the latest generation of SAP business software and, where possible, cloud solutions from SAP.
Analyst View:

The healthcare systems require secured and scalable cloud infrastructure to maintain and manage patient information with high flexibility and speed. Currently, there is a high need for technologies such as cloud computing for the analysis of patients’ data, due to the outbreak of COVID-19 pandemic. As there is a growing need for electronic health records, healthcare providers are increasing the use of highly secure and scalable storage cloud solutions to cater to a large number of cases. Healthcare institutions and private doctors are providing online consulting amidst country lockdowns. Further, the requirement for mobile ambulatory services has increased due to the virus outbreak. These services and facilities need cloud-based communication and collaboration platforms to progress employee productivity and operational efficiency. Healthcare providers are emerging cloud-based applications to gain clinical insights on COVID-19 and evaluate resource needs, such as ventilators and ICU beds. Thus, high spending on cloud-based application development and ERP solutions coupled with increased data analytics and clinical insight requirements are creating revenue opportunities for cloud service providers.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global COVID-19 Impact on Cloud Computing Market”, By Technology (SaaS, IaaS, and PaaS), By Vertical (Banking Financial Services & Insurance, Healthcare & Life Sciences, IT & ITeS, Retail & Consumer Goods, Telecom, Energy & Utilities, Government & Public Sector, and Manufacturing), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029

Key Market Insights from the report:

The global COVID-19 impact on the cloud computing market accounted for US$ 230 billion in 2019 and is estimated to be US$ 650.3 billion by 2029 and is anticipated to register a CAGR of 11.1%. The market report has been segmented on the basis of technology, vertical, and region.

By technology, the software as a service (SaaS) solution segment of the market is expected to account a larger market size in the coming years. Cloud software solutions are facing substantial hit, due to growth in the cases of COVID-19. There are a number of verticals of cloud, such as consumer goods, manufacturing, and retail, etc. where all the processes are put on hold. Nevertheless, organizations have changed their priorities, such as organizations are applying cloud automation and expanding their online presence by developing commerce websites on cloud platforms to reduce the impact of COVID-19 on operational efficiency and productivity.
By vertical, the consumer goods & retail segment is expected to grow at the highest CAGR in the cloud market in the coming years, followed by the IT & ITeS segment. Retailers are improving their IT infrastructure to take advantage of the unified and collaborated workforce to expand overall productivity.
By region, Asia-pacific accounts for the highest growth rate over the forecast period for the cloud computing market. Also, technology spending in the Asia Pacific has improved over a period, however, the holdup due to the recent COVID-19 crisis is imminent.
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Competitive Landscape:

The prominent player operating in the global COVID-19 impact on the cloud computing market includes AWS, Microsoft, Google, SAP, Oracle, VMware, IBM, Rackspace, Alibaba, Salesforce (US), and Adobe.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

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Some Important Points Answered in this Market Report Are Given Below:

Explains an overview of the product portfolio, including product development, planning, and positioning
Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
Detailed analysis of the market revenue over the forecasted period.
Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
Study on the segments that are anticipated to dominate the market.
Study on the regional analysis that is expected to register the highest growth over the forecast period
Key Topics Covered

Introduction
Study Deliverables
Study Assumptions
Scope of the Study
Research Methodology
Executive Summary
Opportunity Map Analysis
Market at Glance
Market Share (%) and BPS Analysis, by Region
Competitive Landscape
Heat Map Analysis
Market Presence and Specificity Analysis
Investment Analysis
Competitive Analysis
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