Market Size in 2023 | Market Forecast in 2032 | CAGR (in %) | Base Year |
---|---|---|---|
USD 38.97 Billion | USD 162.60 Billion | 17.2% | 2023 |
According to Zion Market Research, the global Government Cloud Market was worth USD 38.97 Billion in 2023. The market is forecast to reach USD 162.60 Billion by 2032, growing at a compound annual growth rate (CAGR) of 17.2% during the forecast period 2024-2032. The report offers a comprehensive analysis of the market, highlighting the factors that will determine growth, potential challenges, and opportunities that could emerge in the Government Cloud Market industry over the next decade.
The government cloud is an exclusive cloud based platform specifically for the government, states, local government authorities to harness the benefits of cloud via compliance regulations and security.
Owing to the increasing adoption of cloud based platform by government agencies to reduce the capital expenditure (CAPEX) without undercutting the important public services> the use of cloud based platform is allowing government to reduce the total cost of ownership (TOC) directly or indirectly, this is increasing the growth for the government cloud market. Moreover, the rising need for labor optimization, facility consolidation, and measured services along with asset utilization is also attracting focus of government agencies to adopt the cloud based platform.
The rising adoption of internet of things (IoT) and its usage is propelling the growth for the cloud based market, thus generating a huge consumer base for government cloud market vendors. Implementation of IoT requires cloud technologies to make a connection between several devices, which is provided thru the hybrid, public or private models. This advancement in technology and transformations of previously technology, along with investments make in IoT and thereby in cloud is anticipated to support market growth in the predicted period. Furthermore, the government has started to realize the importance of IoT for achieving in-depth analysis to drive useful information from the same. Additionally this transformation in technology is also opening new avenue for start-ups and other players in the government cloud market. Increasing number of digital services in government organizations and increasing use of cloud platform and IoT based services by the organizations is also anticipated to support market growth in the long run. However, varying structure of the regulatory policies is expected to hinder market growth.
The government cloud market is segmented on the basis of type, service model and deployment model. All the segments have been analyzed based on present and future trends and the market is estimated from 2024 to 2032.
By type segment analysis includes solution and services.
By service model segment analysis includes software as a service (SAAS), infrastructure as a service (IAAS), platform as a service (PAAS).
By deployment model segment analysis includes private cloud, public cloud, hybrid cloud.
On the basis of region Asia Pacific is anticipated to grow at a significant rate over the projected period in government cloud market. The rising ICT spending by the government and initiatives taken by government to develop cloud based platform for government cloud is anticipated to stimulate market demand.
Report Attributes | Report Details |
---|---|
Report Name | Government Cloud Market |
Market Size in 2023 | USD 38.97 Billion |
Market Forecast in 2032 | USD 162.60 Billion |
Growth Rate | CAGR of 17.2% |
Number of Pages | 200 |
Key Companies Covered | Microsoft, Amazon Web Services, Google, IBM, Oracle, HPE, Cisco Systems, Salesforce, Vmware, Dell Technologies, CGI Group, Verizon, and among others |
Segments Covered | By Type, By Service Model, By Deployment Model and By Region |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA) |
Base Year | 2023 |
Historical Year | 2018 to 2022 |
Forecast Year | 2024 - 2032 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
Global Government Cloud Market: Type Segment Analysis
Global Government Cloud Market: Service Model Segment Analysis
Global Government Cloud Market: Deployment Model Segment Analysis
Global Government Cloud Market: Regional Segment Analysis
FrequentlyAsked Questions
The government cloud is an exclusive cloud based platform specifically for the government, states, local government authorities to harness the benefits of cloud via compliance regulations and security.
The global government cloud market accounted for USD 17.45 Billion in 2023 and is expected to reach USD 42.60 Billion by 2032.
The CAGR value of the government cloud market is expected to be around 13.60% during 2024-2032.
On the basis of region Asia Pacific is anticipated to grow at a significant rate over the projected period in government cloud market.
Some key players of the global government cloud market are Microsoft, Amazon Web Services, Google, IBM, Oracle, HPE, Cisco Systems, Salesforce, Vmware, Dell Technologies, CGI Group, Verizon, and among others.
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