The Distributed cloud market size is expected to grow from USD 4.4 billion in 2022 to USD 11.2 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 20.6% during the forecast period. The increase in multi-cloud and hybrid cloud deployments is boosting the growth of distributed cloud market.
Networking service type to grow at a higher CAGR during the forecast period
Cloud networking is utilized for managing the organization’s network capabilities hosted in a public or private cloud. Distributed cloud is a public cloud architecture that can also be extended for cloud networking. Organizations can either use on-premises cloud networking resources to build a private cloud network or use cloud-based networking resources in the public cloud or a hybrid cloud combination. These network resources include virtual routers, firewalls, and bandwidth and network management software.
BFSI industry vertical to hold second largest market share in 2022
Digital transformation in the banking and financial sector is always slowed down by the long trail of traditional and legacy applications that are quite expensive if they require modernization. Cloud solutions offer a new way for banking and financial industries to modernize their IT infrastructure. Distributed cloud technology enables banking organizations to host applications based on any deployment type and meet the regulatory requirements offering scalability and security. Further, the cloud comes with an efficient cost model, which enables banking and financial services to move away from large capital investments and opt for small subscription-based models.
Europe to hold a significant market share of distributed cloud market in 2022
Europe is the second largest market for the distributed cloud platform. Countries such UK, Germany, France, and the rest of Europe are considered for the analysis of the European region. Like North America, enterprises in this region have the strong technical expertise and bigger IT budgets. The presence of a large number of players is another factor contributing significantly to the distributed cloud market growth in this region. The European market has become more profitable for vendors delivering distributed cloud.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with the key people.
The breakup of the profiles of the primary participants as follows:
- By Company Type: Tier I: 33%, Tier II: 42%, and Tier III: 25%
- By Designation: C-Level: 36%, D-Level: 45%, and Others: 19%
- By Region: North America: 42%, Europe: 35%, APAC: 15%, Row: 8%
The report segments the Distributed cloud market by service types, application, organization size (SMEs, large enterprises), vertical, and regions. The service . The service type segment includes data security, data storage, networking, autonomy, and other service types (disaggregation and analytics).
Based on the applications, the market is segmented into edge computing, content delivery, the internet of things, and other applications (volunteer cloud and fog computing).
The market is segmented based on organization sizes as SMEs and large enterprises. Different industry verticals using distributed cloud services include BFSI, IT & telecom, government, healthcare & life sciences, retail & consumer goods, media & entertainment, energy & utilities, manufacturing, and other verticals. The other verticals include travel & hospitality and education.
The geographic analysis of the distributed cloud market is spread across five major regions: North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
Key Benefits of Buying the Report
The report will help the market leaders/new entrants in the distributed cloud market with information on the closest approximations of the revenue numbers for the overall distributed cloud market and the subsegments. The report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.