Security News > 2021 > September > Cloud computing market to reach $1,251.09 billion by 2028

The global cloud computing market size is expected to reach $1,251.

Increasing adoption of 5G, IoT, and AI is expected to further support the growth of the market for cloud computing.

Small & Medium Enterprises are anticipated to emerge as the fastest-growing segment from 2021 to 2028 due to high demand for cloud computing in SMEs owing to reduced costs of IT hardware and software, improved processing capacity and elasticity of storage, and greater mobility of access to data and service.

Owing to various functionalities, cloud computing aids manufacturers in utilizing multiple types of production systems, ranging from High-Performance Computing and 3D printing to IoT and industrial robots.

Asia Pacific as the fastest-growing regional cloud computing market.

Organizations are adopting cloud computing services as they provide insights into partnering tactics, go-to-market approaches, investments, alliance & acquisition strategies, and best operational practices.

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