New York, NY, July 09, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report 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’’ . According to the report, global community cloud market was valued at around USD 1,574.58 million in 2017 and is expected to reach approximately USD 9,224.10 million in 2024, growing at a CAGR of slightly above 28.73% between 2018 and 2024.
The global information technology sector has been plagued by numerous factors including concerns over data security, increasing operational cost, the intense competition offered by global and local players and many others. Due to these factors, various industry players including small and medium-sized businesses are looking for ways which can reduce costs, improved performance and contribute towards green computing. The community cloud model in cloud computing is a collaborative practice in which the infrastructure is shared between various organizations from a specific community. The community cloud may be wholly owned and controlled by all the user members of that particular community or by a third-party cloud provider that supervises a public cloud with limited access.
Browse through 55 Tables & 38 Figures spread over 110 Pages and in-depth TOC on "Global Community Cloud Market: Industry Type, Size, Share, Trends and Forecast 2017-2024”.
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The rising investments and adoption of community cloud computing model in government and private organizations in verticals such as healthcare, banking, and finance are fueling the growth of community cloud technology in the global market. The necessity of high performance and low latency infrastructure, data security and redundancy, shared cost model are some of the major factors contributing to the growth of community cloud market globally. However, the slow adoption rate of community cloud technology due to trust and security concerns among the organizations using cloud application is restraining the growth of the market.
The community cloud market is segmented based on components, professional services, applications, and verticals. The components segment is categorized into hardware and software. The hardware is further divided into the server, storage components, and networking peripherals. The software segment is further divided into enterprise applications, collaboration tools, dashboards, and business intelligence. Professional services segment is categorized into consulting support services, training support services, maintenance support services, customer/public portal services, regulation and compliance services, and other services. Applications segment consist of cloud-based storage, cloud backup and recovery, cloud security and data privacy, web-based applications, high-performance computation (HPC) and analytics. The vertical segment is further divided into BFSI, gaming, government, healthcare, academia and education, and others.
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The North American region holds the largest share of the overall market share in terms of revenue due to increasing adoption of cloud computing technologies and innovations in cloud based services. Also, it is home for the some of the largest multinational companies operating in the cloud computing technology market globally. The rise in research and development activities in the field of cloud computing for new and improved services and applications is one of the key factors driving the growth of the market in North America. Various companies and business firms in the U.S. and Canada are practicing a fast, affordable, advanced and secure process when it comes to cloud based services in the region. Followed by North America whereas, Europe is expected to experience high market traction in the forecast period. European countries including Italy, Germany, France, and the UK, are among the leading adopters of community cloud technologies in the region.
Browse the full "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/com...oud-market
The Asia Pacific is projected to grow at a notable pace in community cloud market during the forecast period, owing to rising investments in the technology and development sectors along with favorable government regulations. Due to the presence of a number of global players in countries such as China, Japan, South Korea, Singapore, and India, these are expected to be leading adopters of community cloud technologies and other cloud based services in this region. LAMEA region (Latin America, the Middle East, and Africa) is anticipated to have moderate growth for community cloud market during the forecast period. Shifting preferences towards technology in small and medium scale enterprises coupled with increasing demand for automation in systems is expected to fuel the cloud computing technologies within the forecast period.
The major players operating in the global community cloud market are Amazon Web Services LLC, Cisco Systems, Atos SE, Akamai Technologies, Inc., VMware, Computer Sciences Corporation, Google Inc., Amadeus IT Group SA, Microsoft Corp., and IBM Corporation among others.
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The report segments global community cloud market as follows:
Community Cloud Market: Components Segment Analysis
- Hardware
- Server
- Storage components
- Networking Peripherals
- Software
- Enterprise Applications
- Collaboration Tools
- Dashboards
- Business Intelligence
Community Cloud Market: Professional Services Segment Analysis
- Consulting Support Services
- Training Support Services
- Maintenance Support Services
- Customer/Public Portal Services
- Regulation and Compliance Services
- Other Services
Community Cloud Market: Applications Segment Analysis
- Cloud-Based Storage
- Cloud Backup And Recovery
- Cloud Security And Data Privacy
- Web-Based Applications
- High-Performance Computation (HPC) And Analytics
Community Cloud Market: Verticals Segment Analysis
- BFSI
- Gaming
- Government
- Healthcare
- Academia and Education
- Others
Community Cloud Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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