Advancing technologies and higher internet services penetration drives the growth of the United Kingdom Cloud Computing Market, 2027F.
According to TechSci report on, “United Kingdom Cloud Computing Market – By Region, Competition Forecast & Opportunities, 2027” United Kingdom cloud computing market may flourish with an impressive CAGR during the forecast period of 2023-2027, on the backbone of growing dependency over internet based things and services. Growing emerging technologies and incorporation of the technology like artificial intelligence, internet of things, machine learning, etc. further enables the cloud growth thereby driving the growth of the United Kingdom cloud computing market in the upcoming five years. During the times of pandemic, demands and access to the cloud computing services increased and thereby supporting the growth of the United Kingdom cloud computing market in the next five years. Use of smart technologies and for the businesses further aids the growth of the United Kingdom cloud computing market in the future five years.
Mobile supercomputing, IoT, big data, and artificial intelligence accelerates the Industry 4.0, the fourth industrial revolution. With growing adoptions of work from home models and demands for the data security against theft also substantiates the growth of the United Kingdom cloud computing market in the forecast years through 2027F. In the recent years, multiple startups have flourished on the online platform in the country. With the pandemic’s onset, third quarter of the 2020, more organizations migrated their workloads from traditional channels to digital formats thus further facilitating the growth of the United Kingdom cloud computing market in the forecast period.
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The United Kingdom cloud computing market is segmented by service model, deployment model, organization size, vertical, competitional landscape, and regional distribution. Based on service model, the market is further segmented into infrastructure as a service, platform as a service and software as a service. Software as a service (SaaS) is anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years on the ground of increasing demand due to its advantages like flexible costs, easy maintenance, and easy deployment. Increasing number of companies and businesses utilizing the software as a service further aids the growth of the United Kingdom cloud computing market in the future five years. Also, remote working due to pandemic condition has accelerated the growth of the United Kingdom cloud computing market.
By deployment model, the market is differentiated between public and private. Private deployment of the services is anticipated to hold the largest revenue shares of the market and dominate the segment in the future years due to its computing capabilities over a personal network or the internet, and they are available to a small group of users rather than the public. Higher assurance of privacy and security also adds to the growth of the United Kingdom cloud computing market in the next five years. Upcoming businesses and startups are also investing in using both of the deployment models, public and private to help enhance business operations, resource usage, cost optimization, user experience, and application modernization while maximizing the benefits.
Based on organization size, the market is distinguished between large enterprises and small & medium-sized enterprises. By vertical, the market is fragmented into BFSI, IT & telecom, government, retail, manufacturing, energy & utilities, healthcare, and others. The market analysis also studies the regional segmentation to devise regional market segmentation, divided among London, East Anglia, Southwest, Southeast, Scotland, East Midlands, and Yorkshire & Humberside.
A partial list of major market players of the United Kingdom cloud computing market includes
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- Amazon Web Services
- Microsoft Corporation
- IBM
- Salesforce Inc.
- Google Inc.
- Oracle Corporation
- SAP SE
- Alibaba Cloud
- Fujitsu
- Zoho Corporation
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“BFSI vertical may lead the market segment and hold largest revenues of the market since the highest security demands are generated from the banks, and other financial businesses and companies. Increasing instances of online banking activity and growing money landing businesses have actively embraced the cloud computing services. The adoption of cloud services for the storage and administration of consumer data can be accredited to the growth of the United Kingdom cloud computing market in the future five years. Payment gateways, online fund transfers, digital wallets, and unified customer experiences, among other services, are likely to play a big role in the BFSI industry, aiding the entire shift to cloud deployment. Moreover, expansion of cryptocurrency market in the industry would also facilitate the market growth,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“United Kingdom Cloud Computing Market By Service Model (Infrastructure as a Service, Platform as a Service and Software as a Service), By Deployment Model (Public and Private), By Organization Size (Large Enterprises, Small and Medium-Sized Enterprises), By Vertical (BFSI, IT & Telecom, Government, Retail, Manufacturing, Energy & Utilities, Healthcare, Others), By Region, Competition Forecast & Opportunities, 2027” has evaluated the future growth potential of United Kingdom cloud computing market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in United Kingdom cloud computing market.
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