The global community cloud market revenue was around US$ 6.2 billion in 2022 and is estimated to reach US$ 82.9 billion by 2032, growing at a compound annual growth rate (CAGR) of 33.6% during the forecast period from 2024 to 2032.
The community cloud market is a specific area of the cloud computing business that is committed to fulfilling the needs of a certain community or group of organizations. Community clouds are planned to be transferred by a small number of users who have identical requirements, needs, or issues, as opposed to public clouds, which are open to all users.
Factors Influencing Market Growth
- The increase in demand for infrastructure with low latency and high performance, the increase in demand to reduce the number of servers the rise in green computing, and the growth in demand for compliance, security, and data redundancy, primarily propel the growth of the community cloud market.
- The trust issues and governance hinder the growth of the community cloud market growth to some extent.
- The rise in information exchange and collaboration between corporations is anticipated to offer lucrative opportunities for the community cloud market.
Impact of COVID-19
The impact of COVID-19 pandemic had a significant influence on the global community cloud market due to the rise in digitalization around the world. Also, the requirement for secure and scalable cloud solutions grew as organizations and companies were forced to move towards remote work and digital functions. Community clouds, which focus on specific sectors or industries, acquired even more significance as businesses looked for specialized solutions to address their specific demands during this crisis.
Regional Analysis
In 2023, North America dominated the global community cloud market in terms of revenue because of the significant focus on an established IT infrastructure, technological advancements, and a high level of digitization. Also, the benefits of cloud computing, like scalability, and flexibility, cost reductions, have been acknowledged by businesses in the region.
Also, Asia-Pacific is anticipated to dominate its position in the market during the forecast period because of the growth in demand for affordable and scalable IT solutions. Moreover, the usage of community cloud services has augmented dramatically in several industries, including healthcare, retail, manufacturing, and government.
Leading Companies
The leading prominent companies profiled in the global community cloud market are: -
- Google LLC
- IBM Corporation
- Microsoft Corporation
- Cisco Systems, Inc.
- DXC Technology Company
- Amazon Web Services, Inc.
- Broadcom
- Atos Se
- Akamai Technologies
- VMware, Inc.
- Other prominent key players
Segmentation Outline
The global community cloud market segmentation focuses on Component, Application, End User, and Region.
Segmentation based on Component
- Hardware
- Software
- Services
Segmentation based on Application
- Cloud-based Storage
- Cloud Backup and Recovery
- Cloud Security and Data Privacy
- High-Performance Computation (HPC) and Analytics
- Web-based Applications
Segmentation based on End User
- BFSI
- Gaming
- Government
- Healthcare
- Education
- Others
Segmentation based on Region
- North America
- The U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Netherlands
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Singapore
- Rest Of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa