Growing with 22.4% CAGR | The Distributed Cloud Market Share Reach USD 17 Billion by 2031

Surge in use of digitization, higher workload and data processing, and better data recovery are the major drivers for the market growth.

PORTLAND, PORTLAND, OR, UNITED STATE, July 9, 2024 /EINPresswire.com/ -- According to the report published by Allied Market Research "Growing with 22.4% CAGR | The Distributed Cloud Market Share Reach USD 17 Billion by 2031. These players have adopted different strategies such as new product launches collaborations expansion joint ventures agreements and others to increase their market share and maintain dominant shares in different regions.

The global distributed cloud market size was valued at USD 2.3 billion in 2021, and is projected to reach USD 17 billion by 2031, growing at a CAGR of 22.4% from 2022 to 2031.

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Surge in requirements for minimum data recovery, rise in use of mobile technology, and increase in digitization have boosted the growth of the global distributed cloud market. Moreover, advantages such as better data recovery, higher workload, and data processing supplemented the market growth. However, concerns regarding data security hinder market growth. On the contrary, adoption of cloud technology, surge in government involvement, and launch of new products would open new opportunities in the future.

The market is segmented into software public-resource computing and volunteer cloud computing. According to organization size, it is fragmented into large enterprises and SMEs. Depending on application, the market is segregated into edge computing, content delivery, intelligent transportation, and others. By industry vertical, the market is segmented into BFSI, healthcare, retail & E-commerce, manufacturing, IT & telecom, energy & utilities, media & entertainment, government & defense and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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By application, the intelligent transportation segment is projected to manifest the highest CAGR of 26.4% from 2022 to 2031, owing to adoption of distributed cloud for faster data insights and integration of automation technologies to improve customer experience. However, the edge computing segment held the largest share in 2021, contributing to more than half of the global distributed cloud market, due to rise in number of intelligent applications adopting distributed cloud.

By industry vertical, the healthcare segment is anticipated to register the highest CAGR of 26.2% during the forecast period, as distributed cloud provides better efficiency and customer satisfaction with integration of various clouds for work from remote places and offers valuable data insights from different clouds. However, the IT and telecom segment held the largest share in 2021, accounting for nearly one-fourth of the global distributed cloud industry, as it helps to access data from different data centers across various clouds.

By region, the market across North America dominated in 2021, accounting for more than two-fifths of the market and is projected to continue to maintain its leading position during the forecast period. This is due to the rise in digital infrastructure and the presence of key players in the region. However, the global distributed cloud market across Asia-Pacific is expected to register the highest CAGR of 25.4% during the forecast period, due to increasing investments in cloud technologies and rise in number of SMEs in the region.

The key players that operate in the Distributed Cloud market analysis are Alibaba Cloud, Amazon Web Services Inc., Axway, CloudSigma AG, Databricks, DigitalOcean, LLC, Google, IBM, Liquid Web, LLC, MassiveGRID Inc., Microsoft Corporation, Oracle Corporation, Rackspace Technology, Salesforces Inc., SAP SE, Verizon, and VMware Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the Distributed Cloud industry.

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Covid-19 Scenario:

● The distributed cloud market was positively impacted by the Covid-19 pandemic, due to sudden demand for cloud services to support digital solutions and remote working, especially in BFSI and manufacturing.

● The entertainment platforms such as video streaming also witnessed increased demand during the pandemic, which increased the demand for distributed cloud solutions.

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