Cloud Computing Market

The cloud computing market provides on-demand computing services like servers, storage, databases, and software over the internet. The primary customers are businesses of all sizes, from small and medium enterprises to large corporations and government entities, seeking to lower operating costs and scale services efficiently. Key growth drivers include the widespread need for digital transformation, the modernization of business operations, and the proliferation of data-intensive technologies like Artificial Intelligence (AI) and the Internet of Things (IoT).

CAGR

20.8%

Compound Annual Growth Rate

Current Value

$1.07T

Estimated 2026

Projected Value

$4.86T

By 2034

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