24-Oct-2018 | Zion Market Research
With the presence of a large pool of participants, the global community cloud market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). Amazon Web Services LLC, Cisco Systems, Atos SE, Akamai Technologies Incorporation, VMware, Computer Sciences Corporation, Google Inc., Amadeus IT Group SA, Microsoft Corporation, and IBM Corporation are some of the key vendors of community cloud across the world. These players are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the community cloud market study.
This review is based on a report by Zion Market Research, titled “Community Cloud Market by Components (Hardware and Software), by Professional Services (Consulting Support Services, Training Support Services, Maintenance Support Services, Customer/Public Portal Services, Regulation and Compliance Services, and Other Services), by Applications (Cloud-Based Storage, Cloud Backup and Recovery, Cloud Security and Data Privacy, Web-Based Applications, High Performance Computation (HPC) and Analytics) for BFSI, Gaming, Government, Healthcare, Academia and Education, and Others by Region (North America, Europe, Asia Pacific, Latin America, and Middle East and Africa): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017-2024.”- Report at https://www.zionmarketresearch.com/report/community-cloud-market
Citing an instance, on October 10, 2018, Blackbaud Incorporation—the world’s major cloud software firm—and Microsoft Corporation declared to jointly invest in an integrated cloud scheme for Nonprofits TM. Analysts project that the strategic move is aimed at steering cloud innovations in areas that address crucial business requirements in the mission lifecycle.
As estimated in this report, the global community cloud market stood at US$ 1,574.58 million in 2017. Witnessing a tremendous rise during the period from 2018 to 2024, the revenue in this community cloud market is expected to reach US$ 9,224.10 million by the end of the forecast period. The main components available in this community cloud market are hardware and software.
Prominent Applications Of Community Cloud Computing Model To Aid Growth
“Escalating data security concerns along with rising operational costs are the major factors driving growth of community cloud market,” says the author of this study. Apart from this, massive investments in community cloud computing along with acceptance of community cloud computing model in business verticals such as healthcare, finance, and banking are expected to propel community cloud market in the years ahead. In addition, necessity of high performance and low latency infrastructure, data security & redundancy, and shared cost model are few of the key aspects contributing substantially towards the expansion of community cloud market.
Slow acceptance of community cloud technology as a result of data privacy concerns, however, is expected to hamper the expansion of community cloud market in the years ahead.
Wide Acceptance Of Cloud Computing Technologies To Aid Regional Dominance
Regionally, North America has been leading the worldwide community cloud market and is anticipated to continue on the dominant position in the years to come, states the community cloud market study. Rising acceptance of cloud computing technologies along with innovations in cloud-based solutions is the main factor behind the dominance of the North America community cloud market. The large number of firms headquartered in U.S. and Canada are practicing fast, cost-effective, and advanced & secured process for cloud-based services, thereby supporting the growth of this North America community cloud market. Rise in R&D activities in cloud computing domain to enhance the service quality is one of the major growth drivers of community cloud market in the region.
The global community cloud market is segmented as follows:
By Professional Services
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