The Sky’s the Limit: Insights into the Public Cloud Market Evolution
The global public cloud market size is anticipated to reach USD 1,987.79 billion by 2030, according to a new report by Grand View Research, Inc. The market is projected to grow at a CAGR of 17.0% from 2024 to 2030. 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 ...