Information technology has taken over various day-to-day activities, which has increased dependency to technology and modern way of life. Community cloud is one of such advanced technologies that have great impact on different industrial verticals. Increasing global demand and constant technological advancements are driving the global community cloud market. Cloud computing is giving strong value preposition to the enterprise, when it comes to outsourcing the infrastructure. Owing to this fact, many organizations are making shift towards cloud-based services. The global industry for community cloud is expected to grow at a remarkable rate. This dynamic growth is expected to remain constant for the next four to five years, which is a great sign for the industry.
Drivers, Restraints and Segmentation
Cost effectiveness is the biggest driving factor for the global community cloud market. The shared nature of costs is encouraging small and medium businesses to use these services. Small businesses from various industrial verticals are quickly adopting cloud computing. These technologies are build on the platform of cloud computing, which depends on various hardware and software programs. The basic segmentation in the market is based on both these technologies.
- Software Technologies: Networking, server and storage
- Hardware Technologies: Dashboards, enterprise applications and collaborations
The global market for community cloud is segmented based on the types of technologies and professional services. Geographical and regional demands are also considered for detailed analysis fo the global industry. Based on geographical regions, the market is divided into:
- North America (USA and rest of North America)
- Latin America (Brazil and rest of Latin America)
- Europe (United Kingdom, Italy and rest of the Europe)
- Asia Pacific (India, China, Singapore, Japan, Australia and rest of Asia Pacific)
According to the recent market research reports for the industry, community cloud is expected to have great application in various industrial verticals. However, certain industries are expected to witness high growth in cloud-based services. These fields include business intelligence software, enterprise applications, healthcare industry, BFSI industry and government organizations. Following are the details of various applications of community cloud:
- BFSI: Banking, financial and insurance services industry needs these services for high performance and low latency of infrastructure as they are available at affordable costs.
- Business Intelligence: These reporting tools help industries to enhance the productivity of the organizations and optimize various crucial business processes.
- Enterprises: Enterprise applications are sophisticated platforms that include CRM, automated billing, ERP, HRM, etc.
- Government: Different governmental bodies, intelligence agencies and separate governmental bodies rely on cloud-based information storage services
- Healthcare: Since these platforms are available at low costs, they are highly suitable for the healthcare industry. Different hospitals and smaller clinics are the primary clients in the industry.
According to the recent findings, the global community cloud market is expected to grow at an estimated CAGR of 34.5% from 2013 to 2018. At this rate, the market will grow past $2.49 billion by the end of 2018. The same reports suggest that as of 2013, the market is poised at $566.1 million. While hardware technologies are largely adopted in the current trends, software programs are expected to dominate the market in the immediate future.