Private Cloud Services Market Application, Technological Advancement, Top Key Players, Financial Overview and Analysis Report Forecast to 2023

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Market Highlights

The private cloud is an individual cloud service that works upon a virtual private network (VPN) limiting access to specific enterprises to help prevent security breaches and cyber-attacks. The major driving factors that influence market of private cloud service over public cloud include growing demand for low-cost and secured IT operations, increase in cloud adoption across various industrial verticals, and increasing inclination towards cloud services for secured data. The cloud service opens up a wide scope of opportunity for large enterprises to deploy their services in emerging nations. Another major factor driving the growth is the rise in adoption of cloud services among small and medium enterprises.

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According to Market Research Future Analysis, the global private cloud services market is anticipated to grow at a CAGR of 21% over the forecast period, 2018-2023. According to Market Research Future, the global private cloud services market has been segmented into services, organization size, industry, and region.

The private cloud is created and maintained by a private organization. A private cloud is a computing model that various organizations use it for running cloud servers and proprietary architecture within their own data centers. Cloud servers possess single user architecture permitting only one user to use the cloud privately. The private cloud can be deployed on-premise hardware also. The private cloud provides a benefit of public clouds such as scalability and user self – service. The private cloud also provides the ability to provision and configure virtual machines on demand. However, the private cloud technologies can bring complexities into an enterprise. Also, the private cloud requires an experienced team of IT professionals that act as growth reducing factor in the Private Cloud Service Market.

On the basis of the services, the market is segmented into software as a service (SaaS), platform as a service (PaaS), and infrastructure as a service (IaaS). On the basis of organization size, the market is segmented into SME’s and large enterprises. On the basis of industry, the market is segmented into banking and financial services, information technology and telecommunication, government, education, healthcare, retail, manufacturing, media & entertainment among others. Among these industries, the banking and financial services are experiencing a high demand for the private cloud services. This is because of the data security over ever-expanding customer base and internet usage. Additionally, pay-as-you-go pricing and deployment model in private cloud are expected to fuel the growth of the market.

The North American region holds the largest private cloud services market. This market hold is due to the growth in demand for low-cost cloud infrastructure development and software services.

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Key Players

The competitive landscape of private cloud service market is categorized into various key players and other emerging companies ranging from tier one to tier five. Some of the key players in the private cloud services market include Cisco Systems, Inc (U.S.), Dell Inc (U.S.), Hewlett Packard Enterprise Company (U.S.), International Business Machines Corporation (U.S.), Microsoft Corporation (U.S.), Oracle Corporation (U.S.), Rackspace Inc (U.S.), Red Hat, Inc (U.S.), Inc (U.S.), Amazon Web Services (U.S.) among others.

The key players constantly keep innovating and investing in research & development for producing the cost-effective portfolio.

Intended Audience

Private cloud services providers
Software Solution providers
Content services providers
Data Analytics vendors
Cloud Service providers
Project accounting solution providers
Value-added resellers
Research firms

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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