Private Cloud Services Market Estimated to Grow with a Healthy CAGR During Forecast Period 2018-2023

(IT-NEWSWIRE.COM, March 09, 2018 ) Market synopsis
Private cloud is similar to the public clouds but it is dedicated to the needs and goals of a single organization. Private cloud services are best suited for the businesses or enterprises with dynamic or unpredictable computing needs. Also, the small and medium enterprises tend to use the private cloud-based on their pricing. The cloud services can be priced as per subscription or pay – per – use. The driving factors that impact the growth of the global private cloud service market include demand for low cost and secured IT operations, increasing cloud adoption across various industrial verticals, increasing inclination towards cloud services for secured data, and lack of IT infrastructure in underdeveloped nations of Africa and the Asia Pacific. Another major factor driving the growth is the rising adoption of cloud services among small and medium enterprises.

However, lack of technical expertise and higher initial cost are some of the factors may slow down the growth of the private cloud services market.

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Segmentation
On the basis of the services, the market is segmented into software as a service (SaaS), platform as a service (PaaS), and infrastructure as a service (IaaS).

On the basis of the organization size, the market is segmented into SME’s and large enterprises.

On the basis of the industry, the market is segmented into banking and financial services, information technology and telecommunication, government, education, healthcare, retail, manufacturing, media & entertainment among others.

Regional analysis
The geographical segmentation of the global private cloud market include regions like North America, Europe, Asia Pacific and rest of the world. Among these regions, North America is leading the private cloud services market. This growth is due to the presence of various diversified companies in information and technology in countries like the U.S. and Canada. Additionally, the North American region is the early adopter of the cloud-services across various industrial sectors and domains.
However, the Asia Pacific region is among the fastest growing region for private cloud services market along with Europe. Many large enterprises are finding their way towards the countries lying in the Asia Pacific for churning out the services in minimal cost and effective manner. Additionally, the countries like India and China are becoming the hub for IT services.

Key players
Some of the key players in the private cloud services market include Cisco Systems, Inc (U.S.), Dell Inc (U.S.), Hewlett Packard Enterprise Company (U.S.), International Business Machines Corporation (U.S.), Microsoft Corporation (U.S.), Oracle Corporation (U.S.), Rackspace Inc (U.S.), Red Hat, Inc (U.S.) Salesforce.com, Inc (U.S.), Amazon Web Services (U.S.) among others.

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Intended Audience
• Private cloud services providers
• Software Solution providers
• Content services providers
• Data Analytics vendors
• Cloud Service providers
• Project accounting solution providers
• Value-added resellers
• Research firms

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Private Cloud Services Market Estimated to Grow with a Healthy CAGR During Forecast Period 2018-2023