Cloud Computing Market Size Poised To Reach USD 1251.09 Billion By 2028
San Francisco, 7 Sep 2021: The Report Cloud Computing Market Size, Share & Trends Analysis Report By Service (SaaS, IaaS), By Enterprise Size (Large Enterprises, SMEs), By End Use (BFSI, Manufacturing), By Deployment, And Segment Forecasts, 2021 - 2028 The global cloud computing market size is expected to reach USD 1,251.09 billion by 2028, registering a CAGR of 19.1% over the forecast period, according to a new study conducted by Grand View Research, Inc. This growth can be attributed to several factors, including digital transformation across various industries, a surge in internet penetration, and big data consumption in various verticals. Increasing adoption of 5G, Internet of Things (IoT), and Artificial Intelligence (AI) is expected to further support the growth of the market for cloud computing. The outbreak of the COVID-19 pandemic is likely to affect businesses drastically, stifling innovation, suppressing profitability, and drying up cash flow and financial reserves.