Increased Adoption of Cloud Leading Cloud Engineering Market to Witness Huge Growth in the Coming Years

Cloud computing has become an integral aspect of any enterprise nowadays. Engineering in the cloud brings about a systematic approach that addresses the concerns of commercialization, standardization, and manages cloud applications. It mainly focuses on cloud services, such as Infrastructure-as-a-Service (IaaS), Platform-as-a-Service (PaaS), and Software-as-a-Service SaaS service. Rising adoption rate of cloud services among SMEs has led to it becoming an integral part of the business processes, since it is easy to use and offers ample flexibility, thereby driving the global market for cloud engineering towards attaining good growth in the coming years.

Market overview

The global cloud engineering market which is estimated to be worth USD 4.73 Billion in 2017 is projected to be valued at USD 13.43 Billion by 2022, growing at a CAGR of 23.2% during the forecast period from 2017 to 2022.

Based on service type, the consulting and design service segment is expected to hold the largest market share in 2017, whereas the cloud storage segment is projected to witness the highest growth over the forecast period. On the basis of deployment model, the public cloud deployment model is expected to hold the largest market share in 2017.

Among verticals, retail and consumer goods vertical is projected to grow at the highest CAGR, owing to the rising need of a comprehensive cloud environment for offering the respective product and service portfolios to the customers.

How is the market progressing, geographically?

Among regions, the North American market for cloud engineering is estimated to account for the highest market share in 2017, whereas the market in Asia-Pacific is expected to be the fastest-growing region. When it comes to adoption of cloud, the North American market is becoming mature, mainly due to factors like standard regulations, advancements in IT infrastructure, presence of various enterprises, and availability of proficient technical expertise. Among countries, the U.S. and Canada are the key markets generating good revenues for the cloud engineering market. Moreover, growing need for efficient computing framework and shifting of workload to cloud are the major factors boosting the demand for the cloud engineering market at a global level.

What are the factors impacting the growth of this market?

The growth of the global market for cloud engineering is being primarily influenced by the following factors:

  • Rising demand for tailored services
  • Growth in demand for cloud engineering for accelerating the product release cycle time
  • Concept testing before making any huge investments
  • Lower costs and higher efficiency as compared to on-premises solutions

In addition, the growing demand and adoption rate of cloud computing among various enterprises and increased penetration of technologies like the Internet of Things (IoT) are expected to further help in gaining traction over the forecast period, thereby creating lucrative opportunities for the growth of this market.

However, the fear of losing control over data and protection of Intellectual Property Rights (IPR) and growing concerns regarding regulatory compliances are the major factors that may act as deterrents for the growth of this market. Moreover, development of cloud-aware software development environment and issues with third-party services are the major challenges that need to be overcome by the leading players involved in this market so as to witness sustained growth in the global market.

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Key players and growth strategies incorporated

The major companies offering cloud engineering services are Sogeti (France, Europe), Aricent Inc. (California, U.S.), Trianz (California, U.S.), GFT Technologies SE (Germany, Europe), ITC Infotech India Ltd. (Karnataka, India), Engineering Ingegneria Informatica SpA (Rome, Europe), RapidValue Solutions Inc. (California, U.S.), Nitor Infotech (Maharashtra, India), Softcrylic LLC (Minnesota, U.S.), Calsoft Inc. (California, U.S.), Searce Inc. (Texas, U.S.), and VVDN Technologies (Haryana, India). These companies are adopting different growth strategies, such as new product developments, mergers & acquisitions, collaborations, and partnerships in order to expand their global presence in the cloud engineering market as well as to maintain their position in the market.

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