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(IT-NEWSWIRE.COM, February 25, 2020 ) According to market research report "Cloud Engineering Market by Service Type (Consulting and Design, Cloud Storage, Integration and Migration), Service Model, Organization Size, Deployment Model, Vertical, and Region - Global Forecast to 2022", The cloud engineering market size is expected to grow from USD 4.73 Billion in 2017 to USD 13.43 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 23.2% during the forecast period.
Browse and in-depth TOC on “Cloud Engineering Market”
62 - Tables
27 - Figures
130 - Pages
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The demand for the cloud engineering market is driven by many factors, such as concept testing before making huge investments , lower costs and greater efficiency than the on-premises solutions, and the growing demand of tailored services. With the increase in the adoption rate of cloud computing among enterprises, the cloud engineering market is expected to gain a major traction during the forecast period.
Consulting and design service type is expected to hold the largest market share
An increasing adoption of cloud-based technologies and the need for efficient scalable infrastructure in enterprises has led to the adoption of cloud engineering services. Consulting help customers to make the right choice at every stage of the product lifecycle development, whether it be migration, development, implementation, design, or security. Moreover, cloud consultants help enterprises identify the areas of workloads and business opportunities, enabling reduced costs, improved customer experiences and service delivery, and cloud adoption
Retail and consumer goods vertical is projected to record the highest CAGR
Retail and consumer goods is one of the fastest-growing verticals due to the need of a comprehensive cloud environment to offer their respective product and service portfolios to the customers. Cloud engineering helps in designing and implementing efficient solutions for seamless integration of multiple shopping channels and presenting a unique shopping experience to the connected consumers. The need to improve sales, customer satisfaction, brand image, and increasing the data generation is forcing the retail and consumer goods vertical to give up the traditional IT strategy.
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North America is expected to hold the largest market share in 2017
North America is estimated to hold the largest market share in 2017, while APAC is projected to be the fastest growing region. North America is the most mature market in terms of cloud adoption due to various factors, such as standard regulation, advanced IT infrastructure, presence of large number of enterprises, and availability of proficient technical expertise. The US and Canada are the top countries in North America that contribute to the cloud engineering market.
The major vendors providing cloud engineering services are Sogeti (France, Europe), Aricent Inc. (California, US), Trianz (California, US), GFT Technologies SE (Germany, Europe), Engineering Ingegneria Informatica SpA (Rome, Europe), Rapidvalue Solutions Inc. (California, US), ITC Infotech India Ltd. (Karnataka, India), Nitor Infotech (Maharashtra, India), Softcrylic LLC (Minnesota, US), Calsoft Inc. (California, US), Searce Inc. (Texas, US), and VVDN Technologies (Haryana, India).
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Mr. Sanjay Gupta
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raviraj.tak@marketsandmarkets.com
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