Private Cloud Market to Reach $190.9 Billion by 2029 – Exclusive Report from MarketsandMarkets

CHICAGO, July 29, 2024 /PRNewswire/ – Global Private Cloud Market The private cloud is expected to grow from USD 124.8 billion in 2024 to USD 190.9 billion by 2029 at a compound annual growth rate (CAGR) of 8.9% during the forecast period, according to a new report by MarketsandMarkets. Private cloud continues to grow globally as organizations begin to realize the potential for compliance with security and efficiency regulations. Many organizations across industries, including finance, healthcare, and government, have become more aware of data and privacy. Private clouds enable organizations to have the required security by offering an isolated physical space needed to deal with cyber threats and unauthorized access, while giving organizations exclusive control over the security measures that protect data. Private cloud enables the definition of security requirements in line with the organization’s compliance and data location. This focus on security and compliance is significantly driving the global private cloud market.

Browse the detailed table of contents on “Private Cloud Market”
300 – Tables
110 – Drawings
310 – Pages

Download PDF brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=101816685

Scope of the report

Report Metrics	Details
Market size available for years	2019-2029
Base year taken into account	2023
Forecast period	2024-2029
Forecast units	Value (USD billion)
Covered segments	Organization type, size, service model and vertical
Geographical areas covered	North America, Europe, Asia Pacific, Middle East, Africa and Latin America
Covered companies	Some of the major private cloud solution providers are Microsoft (US), Google (US), IBM (US), AWS (US), Oracle (US), VMware (US), Alibaba Cloud (China), HPE (US), Cisco (US), and SAP (Germany)

Indeed, there are other factors, but the most important ones are security and compliance. The second critical factor is cost reduction through operational efficiency. From a performance perspective, private clouds help the management of the organization to optimally utilize resources, acquire necessary resources, and control the environment more suited to specific activities, which helps in reducing the overall costs. As the company started outsourcing many applications and integrating with better technologies like AI, ML, and big data analytics, private cloud has become the perfect breeding ground for these applications. Moreover, the adoption of private cloud by organizations, along with hybrid and multi-cloud strategies, allows for leveraging the advantages of private and public clouds to increase versatility, innovation, and efficiency across sectors. The implication of the above factors can be extended to emphasize the importance of private clouds in the modern business world, making them a strategic IT plan.

Request sample pages@ https://www.marketsandmarkets.com/requestsampleNew.asp?id=101816685

The IaaS segment is expected to achieve the highest CAGR during the forecast period by service model segment.

The service model segment of the private cloud market is divided into SaaS, IaaS, and PaaS. The IaaS segment accounted for the highest CAGR during the forecast period. Regulations are essential in the private cloud market as they allow the utilization of computing resources such as virtual machines, storage, and networks for a period of time; this means that organizations can fully leverage cloud computing while retaining all of the company’s data and infrastructure. Moreover, outsourcing operational tasks, optimizing resource utilization, and managing the cost of purchasing hardware and machines can be well-managed through acquisition. Moreover, security and compliance measures have increased, which are necessary to meet regulatory requirements, especially in specific domains.

Based on the IaaS (Infrastructure as a Service) model, the computing segment is expected to have the largest market share in the forecast period.

The private cloud market, according to laaS, is segmented into computing, storage, and networking. The computing segment is expected to hold the largest market size in the private cloud market during the forecast period. Considering LaaS as a service model in the private cloud market is important because there is a demand for virtual computing resources. With this functionality, organizations can access their company’s CPU and memory resources without investing in expensive physical resources. Using IaaS computing, an organization can increase agility, scalability, and cost-effectiveness by allocating resources appropriately and reducing downtime; it also improves the ability to control the IT environment, protect data, and meet regulatory requirements. This model helps in rapid and massive deployment and scaling of applications in the right environment to encourage innovation and increase operational capabilities. IaaS private cloud computing is very useful for large enterprises that require high customization of computing resources and need to quickly adapt to new business requirements while ensuring high levels of security and performance.

Ask before buying@ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=101816685

It is predicted that North America will have the largest market share during the forecast period.

By region, North America is expected to hold the largest share of the global private cloud market in 2024, and this pattern is expected to continue throughout the forecast period. Private cloud solutions are becoming increasingly critical in North America for enterprises that require better security, regulation, and governance of the organization’s IT infrastructure. From this perspective, private clouds come with dedicated environments. Therefore, data is processed more securely than in the case of public clouds; this is especially true for sectors such as healthcare, finance, and government organizations whose compliance standards require robust data security solutions. Additionally, private clouds offer organizations the opportunity to have a unique infrastructure that aligns with the organization’s operational requirements, leading to better outcomes.

In addition, North America is also embracing private cloud services due to the flexibility and scalability of workload management. Businesses are getting a significant advantage in the ability to quickly and flexibly scale up or down resources, without any negative impact on key factors such as security or compliance. This agility enables the company to pursue innovation and promotes shorter time to product and time to service. Additionally, advanced applications such as AL, ML, and big data in the private cloud are helping organizations leverage data as an essential tool for gaining competitive advantage. Thus, private clouds remain a must-have solution for North American businesses as they continue their digital transformation to adapt to the new needs of modern economies and achieve an effective IT infrastructure.

The most important companies in the private cloud market:

The top private cloud providers include Microsoft (USA), Google (USA), IBM (USA), AWS (USA), Oracle (USA), VMware (USA), Alibaba Cloud (China), HPE (USA), Cisco (USA) and SAP (Germany).

Browse neighboring markets: Cloud Computing Market Research Reports and consultations

Related reports:

Cloud FinOps Market – Global forecast until 2029

Visual Cloud Market – Global forecast until 2029

Cloud Migration Services Market – Global forecast until 2028

Cloud Managed Services Market – Global forecast until 2027

Platform as a market for services– Global forecast until 2026

Get the latest updates on private cloud companies and the private cloud industry

About MarketsandMarkets

MarketsandMarkets has been recognized as one of the America’s Best Consulting Firms According to Forbesaccording to their last report.

MarketsandMarkets is the blue ocean alternative to growth consulting and program management, leveraging human-machine offerings to drive above-average growth for progressive organizations in the B2B space. We have the broadest lens on emerging technologies, making us adept at co-creating above-average growth for clients.

Earlier this year, we formally transformed into one of America’s top management consulting firms, according to a study by Forbes.

The B2B economy is witnessing the emergence of $25 trillion in new revenue streams that are replacing existing revenue streams this decade. We work with clients on growth programs to help them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Based on the principle of “GIVE Growth,” we work with several Forbes Global 2000 B2B companies to help them stay relevant in a disruptive ecosystem. Our insights and strategies are shaped by our industry experts, a cutting-edge AI-powered Market Intelligence Cloud, and years of research. KnowledgeStore (our Market Intelligence Cloud) integrates our research, facilitates call analysis through a suite of applications, helping clients see the entire ecosystem and understand the revenue shifts happening in their industry.

To learn more, visit www.MarketsandMarkets.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Rohan Salgarkar
Markets and Markets INC.
630 Dundee Road
Apartment 430
Northbrook, IL 60062
United States: +1-888-600-6441
Email address: [email protected]
Visit our website: https://www.marketsandmarkets.com/

Logo: https://mma.prnewswire.com/media/1951202/4609423/MarketsandMarkets.jpg

View original content: https://www.prnewswire.co.uk/news-releases/rynek-prywatnej-chmury-wart-190-9-miliardów-do-2029–wyleżny-raport-marketsandmarkets-302208425.html