#cloud computing market overview

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Cloud Computing Market Growth Report 2030 by Key Players, Trends, Share, Segmentation

The global cloud computing market was valued at USD 602.31 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 21.2% from 2024 to 2030. The market is rapidly expanding, driven by several key factors, including the increasing recognition by large enterprises of the transformative power of cloud computing. By migrating to the cloud, businesses can streamline their operations, enhance organizational agility, and unlock efficiencies that drive better performance across all departments. As a result, cloud adoption is becoming an essential strategic decision for businesses seeking to improve operational performance, reduce costs, and stay competitive.

Gather more insights about the market drivers, restrains and growth of the Cloud Computing Market

Regional Insights:

North America Cloud Computing Market Trends

In 2023, North America held approximately 40% of the global cloud computing market share, maintaining its dominance. The region’s strong market share is largely due to its mature IT infrastructure and the presence of leading technology hubs. The U.S. continues to be a driving force in the market, with widespread cloud adoption across industries and significant government support for digital transformation initiatives. Cloud adoption in North America is supported by an advanced, secure, and resilient infrastructure that can support a variety of cloud services ranging from data storage to AI-powered solutions.

U.S.

The U.S. cloud computing market held over 90% of North America’s market share in 2023, making it the dominant player in the region. The country’s cloud computing growth is driven by the presence of the world’s largest cloud service providers, including Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform (GCP). These major companies continue to innovate and expand their service offerings, creating opportunities for businesses across sectors to adopt more sophisticated cloud solutions for improved efficiency, security, and scalability.

Asia Pacific Cloud Computing Market Trends

The Asia Pacific region is the fastest-growing market for cloud computing, with an anticipated CAGR of 24.0% from 2024 to 2030. The growth is driven by rapid economic development, an expanding internet user base, and a growing tech-savvy population. This region holds immense potential for cloud service providers looking to tap into markets with a rising demand for digital services.

China

China is the second-largest consumer of cloud computing services globally and is expected to grow at a CAGR of 24.0% from 2024 to 2030. The Chinese government’s strong push for cloud adoption and its focus on technological innovation are major factors driving the growth of the country’s cloud computing market. The presence of domestic cloud giants like Alibaba Cloud and Tencent Cloud is further propelling market expansion, as these companies have strong local market knowledge and extensive infrastructure, catering to the growing demand for digital services.

Japan

Japan is expected to grow at a CAGR of 23.2% from 2024 to 2030. The country’s rapid digitalization across industries such as healthcare, finance, and manufacturing is driving the adoption of cloud solutions. Japan’s expanding reliance on digital infrastructure presents a large market for cloud service providers. However, Japan also faces significant challenges related to cybersecurity, including a shortage of skilled professionals, which creates demand for training and development in cybersecurity practices.

India

India’s cloud computing market is expected to experience significant growth at a CAGR of 26.7% from 2024 to 2030. Factors driving this growth include India’s young, tech-savvy population, the increasing internet penetration, and government initiatives aimed at promoting digitalization. The affordability and scalability of cloud solutions make them particularly appealing to India’s growing startup ecosystem, as well as to businesses across the SME (small and medium enterprise) sector.

Europe Cloud Computing Market Trends

The European cloud computing market is expected to grow at a CAGR of 20.8% from 2024 to 2030, fueled by increasing digitalization efforts and growing awareness about the benefits of cloud-based solutions. The European Union’s focus on data privacy and compliance regulations, such as GDPR, is also playing a crucial role in shaping the market. Businesses are increasingly looking for secure, compliant cloud solutions that meet stringent data privacy standards.

UK

The UK cloud computing market is projected to grow at a CAGR of 19.7% from 2024 to 2030. As one of the more mature markets in Europe, the UK has been a leader in cloud adoption, especially across industries like finance, healthcare, and public services. Government policies and initiatives are helping to drive this growth, particularly with the UK’s efforts to establish a competitive cloud service provider landscape that enhances the country’s technological capabilities.

Germany

Germany is expected to see significant growth in the cloud computing market, with a CAGR of 22.3% from 2024 to 2030. Germany’s strong industrial base, combined with the growing adoption of Industry 4.0 technologies, is driving demand for secure, reliable cloud solutions to support data-intensive manufacturing processes. As one of Europe’s leading economies, Germany is focused on enhancing digital transformation in sectors such as automotive, manufacturing, and healthcare, which is further boosting the demand for cloud services.

MEA Cloud Computing Market Trends

The cloud computing market in MEA is in the early stages but is poised to grow significantly, with an expected CAGR of 18.3% from 2024 to 2030. The region is seeing increased government investments in digital transformation initiatives and growing internet infrastructure, which are key drivers of the market. Cloud service providers are focusing on developing solutions tailored to the specific needs of the MEA region, particularly in sectors such as oil and gas, finance, and healthcare.

Browse through Grand View Research's Category Next Generation Technologies Industry Research Reports.

The global digital transaction management market size was estimated at USD 15.26 billion in 2024 and is projected to grow at a CAGR of 26.3% from 2025 to 2030.

The global data center interconnect market size was estimated at USD 10.12 billion in 2024 and is projected to grow at a CAGR of 13.1% from 2025 to 2030.

Key Companies & Market Share Insights:

Several global leaders dominate the cloud computing space, including Amazon Web Services (AWS), Microsoft Azure, Google Cloud Platform (GCP), and Alibaba Cloud. These companies are continuously innovating and expanding their offerings, making them central players in the market.

Amazon Web Services (AWS): AWS is one of the most widely adopted cloud platforms globally, providing an extensive range of on-demand cloud computing services, including compute, storage, databases, AI/ML, and IoT Its flexible pricing model and massive global network of data centers make it a preferred choice for businesses of all sizes.

Microsoft Azure: Microsoft Azure is a major player in the cloud market, particularly popular for developer solutions and hybrid cloud solutions. It is favored for its integration with Microsoft’s software and services, offering businesses seamless collaboration and productivity tools alongside its cloud infrastructure. Azure’s security features and compliance options are key selling points for large enterprises.

Google Cloud Platform (GCP): Google Cloud is known for its AI, machine learning (ML), and big data Google has also heavily invested in enhancing its cloud infrastructure to support a growing number of businesses needing high-performance computing and data analytics services.

Alibaba Cloud: As the leading cloud service provider in China and a significant player globally, Alibaba Cloud is known for its robust cloud infrastructure and a wide range of cloud services that cater to businesses across industries. The company continues to grow its international presence, offering scalable cloud solutions to businesses in Asia Pacific and beyond.

Emerging Market Participants:

GroundCloud: A newcomer to the cloud computing market, GroundCloud stands out for its focus on sustainability. The company powers its data centers using renewable energy sources, making it an attractive option for environmentally conscious businesses looking for cloud solutions that align with their sustainability goals.

Coastal Cloud: Coastal Cloud specializes in providing cloud solutions tailored for the media and entertainment industry, focusing on managing large media files. The company ensures efficient content production, storage, and delivery, catering to the unique needs of the industry.

Order a free sample PDF of the Cloud Computing Market Intelligence Study, published by Grand View Research.

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Cloud Computing Industry 2030 Top Key Players, Trends, Share, Industry Size, Segmentation

The global cloud computing market was valued at USD 602.31 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 21.2% from 2024 to 2030. The market is rapidly expanding, driven by several key factors, including the increasing recognition by large enterprises of the transformative power of cloud computing. By migrating to the cloud, businesses can streamline their operations, enhance organizational agility, and unlock efficiencies that drive better performance across all departments. As a result, cloud adoption is becoming an essential strategic decision for businesses seeking to improve operational performance, reduce costs, and stay competitive.

Gather more insights about the market drivers, restrains and growth of the Cloud Computing Market

Regional Insights:

North America Cloud Computing Market Trends

In 2023, North America held approximately 40% of the global cloud computing market share, maintaining its dominance. The region’s strong market share is largely due to its mature IT infrastructure and the presence of leading technology hubs. The U.S. continues to be a driving force in the market, with widespread cloud adoption across industries and significant government support for digital transformation initiatives. Cloud adoption in North America is supported by an advanced, secure, and resilient infrastructure that can support a variety of cloud services ranging from data storage to AI-powered solutions.

U.S.

The U.S. cloud computing market held over 90% of North America’s market share in 2023, making it the dominant player in the region. The country’s cloud computing growth is driven by the presence of the world’s largest cloud service providers, including Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform (GCP). These major companies continue to innovate and expand their service offerings, creating opportunities for businesses across sectors to adopt more sophisticated cloud solutions for improved efficiency, security, and scalability.

Asia Pacific Cloud Computing Market Trends

The Asia Pacific region is the fastest-growing market for cloud computing, with an anticipated CAGR of 24.0% from 2024 to 2030. The growth is driven by rapid economic development, an expanding internet user base, and a growing tech-savvy population. This region holds immense potential for cloud service providers looking to tap into markets with a rising demand for digital services.

China

China is the second-largest consumer of cloud computing services globally and is expected to grow at a CAGR of 24.0% from 2024 to 2030. The Chinese government’s strong push for cloud adoption and its focus on technological innovation are major factors driving the growth of the country’s cloud computing market. The presence of domestic cloud giants like Alibaba Cloud and Tencent Cloud is further propelling market expansion, as these companies have strong local market knowledge and extensive infrastructure, catering to the growing demand for digital services.

Japan

Japan is expected to grow at a CAGR of 23.2% from 2024 to 2030. The country’s rapid digitalization across industries such as healthcare, finance, and manufacturing is driving the adoption of cloud solutions. Japan’s expanding reliance on digital infrastructure presents a large market for cloud service providers. However, Japan also faces significant challenges related to cybersecurity, including a shortage of skilled professionals, which creates demand for training and development in cybersecurity practices.

India

India’s cloud computing market is expected to experience significant growth at a CAGR of 26.7% from 2024 to 2030. Factors driving this growth include India’s young, tech-savvy population, the increasing internet penetration, and government initiatives aimed at promoting digitalization. The affordability and scalability of cloud solutions make them particularly appealing to India’s growing startup ecosystem, as well as to businesses across the SME (small and medium enterprise) sector.

Europe Cloud Computing Market Trends

The European cloud computing market is expected to grow at a CAGR of 20.8% from 2024 to 2030, fueled by increasing digitalization efforts and growing awareness about the benefits of cloud-based solutions. The European Union’s focus on data privacy and compliance regulations, such as GDPR, is also playing a crucial role in shaping the market. Businesses are increasingly looking for secure, compliant cloud solutions that meet stringent data privacy standards.

UK

The UK cloud computing market is projected to grow at a CAGR of 19.7% from 2024 to 2030. As one of the more mature markets in Europe, the UK has been a leader in cloud adoption, especially across industries like finance, healthcare, and public services. Government policies and initiatives are helping to drive this growth, particularly with the UK’s efforts to establish a competitive cloud service provider landscape that enhances the country’s technological capabilities.

Germany

Germany is expected to see significant growth in the cloud computing market, with a CAGR of 22.3% from 2024 to 2030. Germany’s strong industrial base, combined with the growing adoption of Industry 4.0 technologies, is driving demand for secure, reliable cloud solutions to support data-intensive manufacturing processes. As one of Europe’s leading economies, Germany is focused on enhancing digital transformation in sectors such as automotive, manufacturing, and healthcare, which is further boosting the demand for cloud services.

MEA Cloud Computing Market Trends

The cloud computing market in MEA is in the early stages but is poised to grow significantly, with an expected CAGR of 18.3% from 2024 to 2030. The region is seeing increased government investments in digital transformation initiatives and growing internet infrastructure, which are key drivers of the market. Cloud service providers are focusing on developing solutions tailored to the specific needs of the MEA region, particularly in sectors such as oil and gas, finance, and healthcare.

Browse through Grand View Research's Category Next Generation Technologies Industry Research Reports.

The global digital transaction management market size was estimated at USD 15.26 billion in 2024 and is projected to grow at a CAGR of 26.3% from 2025 to 2030.

The global data center interconnect market size was estimated at USD 10.12 billion in 2024 and is projected to grow at a CAGR of 13.1% from 2025 to 2030.

Key Companies & Market Share Insights:

Several global leaders dominate the cloud computing space, including Amazon Web Services (AWS), Microsoft Azure, Google Cloud Platform (GCP), and Alibaba Cloud. These companies are continuously innovating and expanding their offerings, making them central players in the market.

Amazon Web Services (AWS): AWS is one of the most widely adopted cloud platforms globally, providing an extensive range of on-demand cloud computing services, including compute, storage, databases, AI/ML, and IoT Its flexible pricing model and massive global network of data centers make it a preferred choice for businesses of all sizes.

Microsoft Azure: Microsoft Azure is a major player in the cloud market, particularly popular for developer solutions and hybrid cloud solutions. It is favored for its integration with Microsoft’s software and services, offering businesses seamless collaboration and productivity tools alongside its cloud infrastructure. Azure’s security features and compliance options are key selling points for large enterprises.

Google Cloud Platform (GCP): Google Cloud is known for its AI, machine learning (ML), and big data Google has also heavily invested in enhancing its cloud infrastructure to support a growing number of businesses needing high-performance computing and data analytics services.

Alibaba Cloud: As the leading cloud service provider in China and a significant player globally, Alibaba Cloud is known for its robust cloud infrastructure and a wide range of cloud services that cater to businesses across industries. The company continues to grow its international presence, offering scalable cloud solutions to businesses in Asia Pacific and beyond.

Emerging Market Participants:

GroundCloud: A newcomer to the cloud computing market, GroundCloud stands out for its focus on sustainability. The company powers its data centers using renewable energy sources, making it an attractive option for environmentally conscious businesses looking for cloud solutions that align with their sustainability goals.

Coastal Cloud: Coastal Cloud specializes in providing cloud solutions tailored for the media and entertainment industry, focusing on managing large media files. The company ensures efficient content production, storage, and delivery, catering to the unique needs of the industry.

Order a free sample PDF of the Cloud Computing Market Intelligence Study, published by Grand View Research.

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Cloud Computing Industry 2030 Outlook, Regions, Size Estimation and Upcoming Trend

The global cloud computing market was valued at USD 602.31 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 21.2% from 2024 to 2030. The market is rapidly expanding, driven by several key factors, including the increasing recognition by large enterprises of the transformative power of cloud computing. By migrating to the cloud, businesses can streamline their…

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Cloud Computing Market To Deliver Prominent Growth & Striking Opportunities

The global cloud computing market was valued at USD 602.31 billion in 2023 and is projected to grow at a compounded annual growth rate (CAGR) of 21.2% from 2024 to 2030. This rapid expansion is driven by a combination of factors that have made cloud computing an indispensable tool for businesses across various sectors. One of the key reasons for this growth is the increasing recognition by large enterprises of the transformative potential of cloud computing. By shifting their operations to the cloud, companies can streamline processes, increase agility, and achieve significant improvements in operational efficiency, resulting in enhanced overall performance.

One of the major trends contributing to this growth is the rising adoption of hybrid and multi-cloud solutions. These technologies give businesses the flexibility and control they desire by allowing them to integrate multiple cloud platforms and services, tailoring infrastructure to meet their unique needs. Additionally, pay-as-you-go pricing models have made cloud computing more accessible and cost-effective, as they eliminate the need for significant upfront investments in traditional IT infrastructure. This is especially beneficial for businesses in developing countries that are looking for ways to upgrade their digital infrastructure and compete on a global scale.

Gather more insights about the market drivers, restrains and growth of the Cloud Computing Market

Service Segmentation Insights:

Among the different types of cloud services, the Software-as-a-Service (SaaS) segment dominated the market in 2023, accounting for approximately 54% of the total revenue share. SaaS solutions are widely popular due to their ease of use and convenience. Businesses can access SaaS applications on demand without the need for complex installations or ongoing maintenance, making them attractive to organizations of all sizes, including startups and small businesses. Furthermore, SaaS applications are typically offered on a subscription basis, which provides a predictable and cost-effective model for companies to access the software they need. Another important advantage of SaaS solutions is that vendors regularly release updates and new features, ensuring that customers have access to the latest functionalities without needing to invest in additional IT resources. These factors have contributed to the significant growth of the SaaS segment in the cloud computing market.

The Infrastructure-as-a-Service (IaaS) segment, on the other hand, is projected to experience the fastest growth, with a CAGR of around 22% during the forecast period. IaaS is becoming a key driver in the cloud computing market due to the flexibility, scalability, and cost-efficiency it offers businesses. Unlike traditional on-premise infrastructure, IaaS allows companies to avoid large upfront investments in hardware and software. Instead, businesses can pay for the computing resources they need on a per-use basis, scaling up or down as required by their changing needs. This scalability is particularly beneficial for startups and businesses with fluctuating resource demands. Additionally, with IaaS, the responsibility of managing and maintaining the underlying infrastructure falls on the service provider, enabling IT teams to focus on more strategic tasks and high-level objectives, rather than spending time on routine maintenance. These factors make IaaS a highly attractive option for companies looking to optimize their IT infrastructure and increase operational efficiency.

In conclusion, the global cloud computing market is poised for significant growth, driven by the increasing adoption of cloud-based solutions by businesses seeking to improve efficiency, reduce costs, and enhance flexibility. The continued expansion of the SaaS and IaaS segments highlights the demand for user-friendly, scalable, and cost-effective solutions that can meet the evolving needs of companies in an increasingly digital world.

Order a free sample PDF of the Cloud Computing Market Intelligence Study, published by Grand View Research.

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Cloud Computing Industry Leading Players Updates and Growth Analysis Report 2030

The global cloud computing market was valued at USD 602.31 billion in 2023 and is projected to grow at a compounded annual growth rate (CAGR) of 21.2% from 2024 to 2030. This rapid expansion is driven by a combination of factors that have made cloud computing an indispensable tool for businesses across various sectors. One of the key reasons for this growth is the increasing recognition by large enterprises of the transformative potential of cloud computing. By shifting their operations to the cloud, companies can streamline processes, increase agility, and achieve significant improvements in operational efficiency, resulting in enhanced overall performance.

One of the major trends contributing to this growth is the rising adoption of hybrid and multi-cloud solutions. These technologies give businesses the flexibility and control they desire by allowing them to integrate multiple cloud platforms and services, tailoring infrastructure to meet their unique needs. Additionally, pay-as-you-go pricing models have made cloud computing more accessible and cost-effective, as they eliminate the need for significant upfront investments in traditional IT infrastructure. This is especially beneficial for businesses in developing countries that are looking for ways to upgrade their digital infrastructure and compete on a global scale.

Gather more insights about the market drivers, restrains and growth of the Cloud Computing Market

Service Segmentation Insights:

Among the different types of cloud services, the Software-as-a-Service (SaaS) segment dominated the market in 2023, accounting for approximately 54% of the total revenue share. SaaS solutions are widely popular due to their ease of use and convenience. Businesses can access SaaS applications on demand without the need for complex installations or ongoing maintenance, making them attractive to organizations of all sizes, including startups and small businesses. Furthermore, SaaS applications are typically offered on a subscription basis, which provides a predictable and cost-effective model for companies to access the software they need. Another important advantage of SaaS solutions is that vendors regularly release updates and new features, ensuring that customers have access to the latest functionalities without needing to invest in additional IT resources. These factors have contributed to the significant growth of the SaaS segment in the cloud computing market.

The Infrastructure-as-a-Service (IaaS) segment, on the other hand, is projected to experience the fastest growth, with a CAGR of around 22% during the forecast period. IaaS is becoming a key driver in the cloud computing market due to the flexibility, scalability, and cost-efficiency it offers businesses. Unlike traditional on-premise infrastructure, IaaS allows companies to avoid large upfront investments in hardware and software. Instead, businesses can pay for the computing resources they need on a per-use basis, scaling up or down as required by their changing needs. This scalability is particularly beneficial for startups and businesses with fluctuating resource demands. Additionally, with IaaS, the responsibility of managing and maintaining the underlying infrastructure falls on the service provider, enabling IT teams to focus on more strategic tasks and high-level objectives, rather than spending time on routine maintenance. These factors make IaaS a highly attractive option for companies looking to optimize their IT infrastructure and increase operational efficiency.

In conclusion, the global cloud computing market is poised for significant growth, driven by the increasing adoption of cloud-based solutions by businesses seeking to improve efficiency, reduce costs, and enhance flexibility. The continued expansion of the SaaS and IaaS segments highlights the demand for user-friendly, scalable, and cost-effective solutions that can meet the evolving needs of companies in an increasingly digital world.

Order a free sample PDF of the Cloud Computing Market Intelligence Study, published by Grand View Research.

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Cloud Computing Industry Size, Trends, Statistics and Analysis Report, 2030

The global cloud computing market was valued at USD 602.31 billion in 2023 and is projected to grow at a compounded annual growth rate (CAGR) of 21.2% from 2024 to 2030. This rapid expansion is driven by a combination of factors that have made cloud computing an indispensable tool for businesses across various sectors. One of the key reasons for this growth is the increasing recognition by large…

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Cloud Computing Market | Latest News, COVID-19 Impacts and Growth Outlook

The global cloud computing market is expected to reach USD 1,554.94 billion by 2030, registering a CAGR of 15.7%, according to a new study conducted by Grand View Research, Inc. Cloud systems thrive at streamlining inter-organizational communication and providing a simplified alternative for managing corporate processes. Greater collaboration between networking and cloud teams can increase security, efficiency, and cloud application performance. COVID-19 crisis has impacted the cloud computing industry and is expected to drive the market, Agile and resilient enterprises are increasing their cloud investments to adapt, innovate, cut costs, become data driven, and thrive in these challenging times. Due to cost savings, flexibility and scalability, data security, data storage, and team collaboration, about 70% of firms have already shifted to cloud-based computing for part of their services. For instance, in October 2020, Microsoft Corporation joined with ZEISS Group to improve health care and manufacturing quality through data solutions. Together with the simplicity of deployment and lower total cost of ownership, these advantages are likely to raise cloud computing demand throughout the forecast period, driving the market growth.

The outbreak of the COVID-19 pandemic is likely to impact businesses drastically, stifling innovation, suppressing profitability, and drying up cash flow and financial reserves. IT and software development industries have also been facing challenges due to this unforeseen outbreak. Although all the outcry of COVID-19 has produced personal, professional, and community life, it also presented business opportunities. Thus, cloud computing solutions will support teams in learning to collaborate, and businesses can realize they can function effectively without having people in the office. This scenario is expected to propel market growth. To maintain employee well-being and operational efficiency, a growing number of businesses across multiple verticals have adopted the work-from-home model, driving up demand for Software-as-a-Service (SaaS)-based solutions.

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Organizations are adopting cloud computing services as they provide insights into partnering tactics, go-to-market approaches, investments, alliance and acquisition strategies, and best operational practices. Moreover, cloud computing services help measure, correlate, and analyze business activities and ensure that company operations are in line with the customer demands. To get significant business insights for decision-making, many firms are investing in big data, IoT, artificial intelligence, and 5G technologies. Big data technologies are becoming more popular because of the numerous advantages they provide, such as data integration, data segmentation, and business intelligence, to name a few. The growing need for analytics and big data technologies in cloud computing services is opening up plenty of new chances for the market to expand.

Cloud Computing Industry By Key Players:

Key vendors in the market focus on introducing new cloud solutions, services, and workloads and upgrading of capabilities of their current offerings to strengthen their foothold in the market. Furthermore, vendors also engage in mergers and acquisitions to strengthen their market position and enhance their cloud capabilities. For instance, in October 2020, SAP SE announced an agreement to acquire Emarsys, an omnichannel customer engagement platform provider. The acquisition allowed SAP SE to add the Emarsys customer engagement platform into SAP S/4HANA and Experience Management technology. Emarsys technology would allow SAP Customer Experience solutions to link commerce signals with the back office and activate the preferred channel of the customer with a relevant and consistently personalized message, thereby enabling customers to choose their engagements.

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Grand View Research has segmented the global cloud computing market based on service, deployment, enterprise size, end use, and region