The North America cloud computing market is expected to grow from US$ 160,902.44 million in 2022 to US$ 587,793.09 million by 2028; it is estimated to grow at a CAGR of 24.1% from 2022 to 2028.
Owing to the adverse effects of COVID-19 pandemic, many enterprises across verticals have adopted the work-from-home model to maintain operational efficiency and for employees safety. Therefore, the demand for collaboration-based solutions, such as Software-as-a-Service (SaaS), has increase. The regional lockdowns due to the COVID-19 outbreak forced a large share of population to stay at home, fueling the popularity of video-on-demand (VoD) services, which propelled the need for IaaS. Companies that provide VoD services, such as YouTube, Netflix, Amazon, Hulu, Twitch, Disney+, and Apple TV, are expanding their offerings to meet the customers’ needs. Many organizations are increasing their spending on cloud by more than 50% amid COVID-19 pandemic. Thus, the pandemic is fueling the adoption of cloud computing, supporting the cloud computing market growth in North America.
By introducing new features and technologies, vendors in the North America cloud computing market can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the market growth at a notable CAGR during the forecast period.
North America Cloud Computing Market Segmentation
The North America cloud computing market is segmented on the basis of service model, deployment model, organization size, industry verticals, and country. Based on service model, the market is segmented into infrastructure as a service (IaaS), platform as a service (PaaS), and software as a service (SaaS). Based on deployment model, the North America cloud computing market is bifurcated into public cloud and private cloud. By organization size, the market is segmented into small & medium-sized enterprises (SMEs) and large enterprises. Based on industry verticals , the North America cloud computing market is segmented into BFSI, IT and Telecom, government and public sector, retail and consumer goods, manufacturing, healthcare and life sciences, and others. Based on country, the market is segmented into the US, Mexico, and Canada.
North America Cloud Computing Market —Companies Mentioned
Amazon Web Services; Microsoft Corporation; SAP SE; IBM Corporation; Salesforce.com, INC.; Google LLC; Oracle Corporation; Alibaba Group Holding Limited; Adobe; and Workday, Inc. are a few major companies operating in the North America cloud computing market.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 160,902.44 Million |
| Market Size by 2028 | US$ 587,793.09 Million |
| CAGR (2022 - 2028) | 24.1% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Service Model
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
The North America Cloud Computing Market is valued at US$ 160,902.44 Million in 2022, it is projected to reach US$ 587,793.09 Million by 2028.
As per our report North America Cloud Computing Market, the market size is valued at US$ 160,902.44 Million in 2022, projecting it to reach US$ 587,793.09 Million by 2028. This translates to a CAGR of approximately 24.1% during the forecast period.
The North America Cloud Computing Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Cloud Computing Market report:
The North America Cloud Computing Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Cloud Computing Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Cloud Computing Market value chain can benefit from the information contained in a comprehensive market report.
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