Cloud Computing Market Size Is Likely to Witness Significant Gains from 2016 to 2023.

Cloud computing market size is likely to witness significant gains from 2016 to 2023. Greater scalability coupled with faster access to infrastructure are anticipated to surge the demand growth.

North America, especially U.S. cloud computing market size accounted for over 50% total share in 2015. SaaS services, including collaborations, content & communications along with customer relationship management is expected to boost regional revenue generation over the forecast period.

Cloud computing in an internet based technology that serves centralized data to remote devices connected through intranet or internet. It is a network where an application or program runs on a server and can be shared across several devices such as laptops, smartphones and personal computers. It ensures consumption-based billing and is also expected to witness significant adoption in several end use sectors. The above mentioned factors are likely to boost the industry demand over the forecast period. Strong outlook on the healthcare cloud computing market size, likely to exceed USD 13 billion by 2023, should drive industry demand.

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The technology enables exploitation of data in order to sustain business conclusions while maintaining the IT cost down. In addition, it enables companies to leverage platform as a service for application deployment. The technology is mainly deployed by key players in applications such as Google Inc. for Gmail, Drop box Inc. for their Dropbox Storage, Google auto back up, Facebook, Ever note and Skype. The technology is mainly utilized in social media and healthcare sectors as it facilitates the sectors to reduce their capital expenditure by eliminating the cost of IT Infrastructure.

The industry can be segmented on the basis of deployment models which include public cloud, hybrid cloud and private cloud. The...