Market Share of Cloud-Enabling Technology Industry
The cloud-enabling technologies market is highly fragmented and competitive, owing to several international players. The market competition is expected to intensify with increasing technological advancements and innovations, mergers and acquisitions, and strategic partnerships. Some key players are IBM Corporation, Tata Consultancy Services Limited, and Fujitsu Ltd, among others.
In May 2023, Temenos open platform, running on Red Hat OpenShift, partnered with IBM Power, LinuxONE, and IBM Cloud for Financial Services to enable banks to realize hybrid cloud benefits. The partnership aims to help accelerate banks' digital transformation programs by providing enhanced security, operational efficiency, and innovation and enabling regulatory alignment. It is also designed to enable the modernization of technology stacks and coexistence with hybrid cloud platforms.
In October 2022, Fujitsu launched 'Fujitsu Computing as a Service (CaaS)' in Japan, a new global co-creation partner program. The program aimed to provide prompt solutions to societal issues, including labor shortages in logistics, countermeasures to infectious diseases, and developing new highly functional materials by co-creating use cases on the CaaS platform with innovative companies such as startups.
Cloud-Enabling Technology Market Leaders
International Business Machines Corporation
Microsoft Corporation
Fujitsu Ltd
Tata Consultancy Services Limited
Amazon Web Services
*Disclaimer: Major Players sorted in no particular order
