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Research Outline
Prepared for Shigetaka T. | Delivered December 25, 2020
Global Cloud Computing Markets
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Goals
To identify quantitive information and data sources on the cloud computing markets, namely the US, Mexico, China and the ASEAN region, respectively. This assists with a global business expansion initiative.
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Early Findings
According to the latest research findings, the global cloud computing market generated a revenue of
$199.01 billion
in 2019, which is expected to reach
$760.98 billion
in 2027, representing a CAGR of
18.6%
between 2020 and 2027. The North American region has a market share of
30.9%
in 2019, which is expected to continue its leading position during the forecast period. The Asia-Pacific region is expected to see the highest growth rate in the next seven years.
The Southeast Asian market (ASEAN) reached a cloud revenue of
$15.2 billion
in 2017, which is expected to see a steady growth of
19.8%
until 2024 and reach
$40.32 billion
in 2025. The private cloud is the largest mode of deployment, representing
48.7%
of the market, while IaaS is the largest product segment or service model, with a
55%
market share. In terms of the country's share in the ASEAN region, Thailand was the largest market with a
42%
market share and the region's future growth is expected to be driven by Singapore with a CAGR of over
13%
.
In Mexico, the cloud service revenue was
12.33 billion Mexican Peso
in 2019, in which SaaS was the largest revenue contributor (
51%
). Approximately
80%
of organizations have used cloud-based services with either private or hybrid cloud modes of deployment. While pubic cloud and SaaS have been the primary growth drivers in the past decade, the Mexican cloud market is expected to continue the growth momentum, resulting from cloud migration across industries.
In the North American region, the US is the largest market and expected to grow by
16.4%
CAGR between 2017 and 2030.
SaaS
has been the most popular product segment. As the largest public cloud market, the country's spending reached
$124 billion
in 2019.
The Chinese cloud computing market is expected to reach
RMB300 billion
in 2023, in which internet-based businesses represent
60.1%
. According to Statista, the cloud computing market revenue is expected to reach approximately
RMB111 billion
in 2021. According to the Ministry of Industry and Information Technology in China, the cloud computing industry already reached a scale of
$48 billion
in 2018. As the second-largest public cloud market, the country's spending reached
$10.7 billion
in 2019 and grew by
63.7%
.
Summary of Initial Findings
The initial hour of findings reveals some statistics on the key markets of the global cloud computing industry. Although the US is expected to be the largest market, there is a lack of information on its total cloud computing market. Credible information in this regard is unlikely to be publicly available in further research.
We propose further research to focus on the key growth drivers, trends, and associated quantitative information in the US, Mexico, China, and the ASEAN region.
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