Public Cloud Market 2027: What Will Be Changes In Investment Ratio With Opportunity Analysis?? |Grand View Research, Inc.
The global public cloud market size is expected to reach USD 596.0 billion by 2027 , expanding at a CAGR of 14.6% from 2020 to 2027 , according to a new study conducted by Grand View Research, Inc. Owing to the high scalability and reduced operational costs offered by cloud services in the wake of digital transformation of industries, the market is witnessing rapid growth. Moreover, enterprises across the globe are gradually adopting public cloud technology to rapidly build, test, and release quality software products. The public cloud is a multi-tenant environment, which offers rapid elasticity and high scalability with capability to consume resources on a pay-per-use basis. Governments and institutions are planning gradually to completely integrate its conventional systems with these computing technologies. As a part of the IT Modernization effort, U.S Federal Government had initiated Cloud Smart Strategy in October 2018 to improve citizen-centric services, accessibility, and ma