Europe Cloud Computing Market Value - By Service (Software-as-a-Service, Infrastructure-as-a-Service, Platform-as-a-Service), By Organization (Large Enterprises, SMEs), By Deployment Model (Public Cloud, Private Cloud, Hybrid Cloud), By Application (BFSI, Government and Public sector, Healthcare, IT & Telecom, Retail, Manufacturing, Education, Others), and By Industry Analysis, Market Size, Share & Forecast, 2023 – 2032

MVI Statistics and Viewpoints:

• Europe Cloud Computing Market size exceeded USD 54.98 Billion in 2022. 
• The market is expected to showcase a CAGR of over 24.4% from 2023 to 2032. 
• By the end of the forecast period, the market is anticipated to reach a valuation of around USD 490.74 Billion.

The Europe market is characterized by strong rivalry among these key manufacturers, each of which offers a diverse set of cloud services tailored to the specific needs of European businesses. As cloud adoption grows, these manufacturers are expected to play a critical role in shaping Europe's digital future, driving innovation, and facilitating digital transformation across multiple industries.

To get more info about this report - 

Market Overview:

The Europe market has grown and transformed significantly over the years, fueled by the region's rapid adoption of cloud technologies across various industries and enterprises. Cloud computing is the internet-based delivery of computing services such as storage, servers, databases, networking, and software. The cloud computing landscape in Europe is characterised by a diverse array of local and global cloud service providers catering to the diverse needs of businesses and organisations.

Several factors have contributed to cloud computing's widespread adoption in Europe. First and foremost, cloud solutions provide scalability and flexibility, allowing businesses to efficiently scale their resources up or down based on demand. This flexibility is especially advantageous for startups, small and medium-sized enterprises (SMEs), and businesses with fluctuating workloads.

As the Europe cloud computing market evolves, more innovations, increased collaboration between cloud service providers and businesses, and the adoption of hybrid cloud solutions combining public and private clouds are expected. Organisations in Europe will continue to use cloud computing to drive digital transformation, innovation, and competitive advantage across a wide range of industries and sectors.

To get more info about this report - 

Drivers:

• Cost-Efficiency and Scalability: One of the primary drivers of cloud computing adoption in Europe is cost-effectiveness. Cloud services enable businesses to reduce capital expenditure on physical infrastructure and shift to a pay-as-you-go model, allowing them to save on hardware, maintenance, and operational costs. Another critical factor is scalability, as cloud resources can be easily scaled up or down based on demand, optimizing resource utilization and cost control.
   
• Digital Transformation: To remain competitive and meet changing customer expectations, European businesses are increasingly embarking on digital transformation journeys. Cloud computing is the foundational technology for this transformation, allowing for the adoption of emerging technologies such as artificial intelligence (AI), machine learning (ML), the Internet of Things (IoT), and big data analytics.
   
• Remote Work and Collaboration: The COVID-19 pandemic accelerated the shift towards remote work and highlighted the importance of cloud-based collaboration tools and infrastructure. European businesses turned to cloud solutions to facilitate remote work, ensuring business continuity and employee productivity. This trend is expected to continue, with cloud-powered collaboration becoming a norm in the post-pandemic era.

Restraints:    

• Data Privacy and Security Concerns: European enterprises are highly sensitive to data privacy and security, driven by stringent regulations such as GDPR. Concerns over data breaches, unauthorized access, and data residency issues can deter businesses from migrating critical data and applications to the cloud.

By Service Synopsys:                      

The Europe market is classified by service into software-as-a-service, infrastructure-as-a-service, and platform-as-a-service. Among these segments, the software-as-a-service segment is expected to hold the largest share of the Europe cloud computing market during the forecast period. The Software-as-a-Service (SaaS) segment in the Europe market refers to the subscription-based delivery of software applications over the internet. SaaS providers centrally host and maintain the software, allowing users to access it via web browsers on a variety of devices. Users do not need to install or manage the software locally because the SaaS provider handles all updates and maintenance. Businesses can benefit from this model in a variety of ways, including cost savings, scalability, and ease of use. Email and collaboration tools, customer relationship management (CRM) systems, human resource management software, and productivity suites are all examples of SaaS applications.

By Organization Synopsys:     

The Europe market is classified by organization into large enterprises, SMEs. Among these segments, the SMEs segment is estimated to hold the largest share of the Europe market during the study period. Cost efficiency is a primary driver for SMEs adopting cloud solutions. They benefit from the pay-as-you-go pricing model, which eliminates the need for significant upfront investments in hardware and software. SMEs often seek cloud services that are easy to set up and manage without requiring extensive technical expertise. User-friendly interfaces and straightforward onboarding processes are crucial for this segment.  

By Deployment Model Synopsys:    

To get more info about this report -  

The Europe market is classified by deployment model into public cloud, private cloud, and hybrid cloud. Among these segments, the public cloud segment accounted for the largest share of the Europe cloud computing market in 2022. Public cloud adoption has been on the rise in Europe, especially among small and medium-sized enterprises (SMEs) and startups. Public cloud services are valued for their ease of use, scalability, and the ability to offload IT infrastructure management to service providers. Popular public cloud providers such as Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform (GCP) have a strong presence in Europe.

Top Companies Includes In The Europe Cloud Computing Landscape:

• Amazon Web Services (AWS)
• Microsoft Azure
• Google Cloud
• IBM Cloud
• Oracle Cloud
• Salesforce
• SAP Cloud Platform
• Alibaba Cloud
• NTT Communications Corporation
• Hewlett Packard Enterprise (HPE) Cloud Services
• VMware Cloud
• Others

To get more info about this report - 

In-depth analysis of Europe Cloud Computing Market along with industry coverage and forecasting for the following segments:

Market Size, By Service

• Software-as-a-Service
• Infrastructure-as-a-Service
• Platform-as-a-Service

Market Size, By Organization

• Large Enterprises
• SMEs

Market Size, By Deployment Model

• Public Cloud
• Private Cloud
• Hybrid Cloud

Market Size, By Application

• BFSI
• Government and Public sector
• Healthcare
• IT & Telecom
• Retail
• Manufacturing
• Education
• Others