Today, as technology is the catalyst of change and significantly enhances industry and business functions, cloud computing is a major technology that continues to gain traction in worldwide industries among small and medium enterprises. This is due to its increased implementation by different enterprises for notable benefits, such as cost savings, increased productivity, speed and efficiency, performance, and security. Several industries and organizations, including government, BFSI, retail, and healthcare, are deploying cloud computing technology on a considerable scale today. All the more, the momentum to move enterprise applications to the cloud is gaining speed in the wake of the COVID-19 pandemic. The excessive management of data center infrastructure, periodic refresh and license management, and more are driving the Cloud services market. The increase in adoption of cloud computing services, personalized customer experience, rising demand for AI, and increasing adoption of technologies such as ML and IoT are the key factors driving the growth of the cloud computing market. The latest trends in the global cloud computing market are cloud gaming and serverless computing. However, data security & privacy concerns may restrain the market’s growth.

Owing to the immense pressure due to the COVID-19 pandemic, there were numerous cloud computing providers that faced challenges, however, with economies shifting their focus from responding to the pandemic to economic recovery they are being served with various growth opportunities now.The global cloud computing market is projected to reach $1,402.7 billion by 2030, at a CAGR of 16.8 percent from 2023 to 2030.In our present edition, ‘10 Most Promising Cloud Computing Companies – 2023’, we have listed some accomplished cloud computing market players who are consistently growing with the increasing adoption of cloud computing solutions among businesses.
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