Market Size of North America Professional Cloud Services Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 15.23 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Professional Cloud Services Market Analysis
The North American professional cloud services market is expected to register a CAGR of 15.23% during the forecast period. This is due to the early adoption of cloud-based networks in the region.
- Professional cloud services allow consumers to deploy various types of cloud services. Cloud acts as a catalyst for IT transformation, delivering the flexibility to combine the preferred clouds and existing on-premises infrastructure in the ratio best suited for the workload.
- Maintaining employees' safety during COVID-19 forced many corporations to change their regulations and policies. As stated earlier, the foremost cause of the business disruption was the inability to move the workforce and coordinate HR. The inability to travel and cross borders and social distancing forced businesses to change their current ways of functioning and reconsider operational choices.
- The primary drivers for cloud adoption are reducing capital expenditure spending, IT management complexity, and the ability to deploy new applications faster. These factors are helping companies adopt cloud-based platforms. Modern, multi-tenant cloud platform services enable thousands of customers to use the same resources. This results in saving a lot of the workforce and the expenses involved.
- The presence of Google, the most successful cloud operator, has proven the viability of large-scale, web-based applications provided from the cloud. Microsoft, currently moving to offer its services on a cloud-based platform, is one of the core drivers of this market in North America.
- Performance-related issues and data security concerns are the significant challenges faced by the industry. However, recent technological advancements are striving to rectify these problems and ensure that companies can concentrate on their core competencies.
