The community cloud market is evaluated at US$2.202 billion for the year 2019 and is projected to grow at a CAGR of 31.29% reaching the market size of US$14.806 billion by the year 2026.
Cloud technology has grown in prominence over the last several years, resulting in a significant increase in the usage of cloud technology across many business sectors. For excellent performance and services, industries handle and rely on massive amounts of data. The shared cloud concept is a new trend that many businesses are adopting. In addition, several government agencies throughout the world are investing heavily in the implementation of these technologies. Agencies and government organizations like the Australian Taxation Office (ATO) and the General Service Administration (GSA), for example, have already begun to invest in and employ commodity cloud technology. As a result, the use of community cloud technology is likely to grow in the future years.
Cloud computing technologies are being used to build community cloud technologies. The growing demand for a single regulatory and network security standard throughout the globe is a major driver of this market's growth. Because the community cloud technology model is built on a shared cost model, the market for small and medium-sized enterprises, such as healthcare and clinical verticals, has a lot of potentials. To earn profit and attain economies of scale in a short period, small and medium-sized businesses prefer the community cloud model to the standard cloud technology approach.
COMMUNITY CLOUD MARKET, US$ billion, 2019 to 2026
Source: Knowledge Sourcing Intelligence Analysis
The market for community cloud technology is being driven by a global need for high-performance, low-latency infrastructure. Additionally, attaining economies of scale through the use of a shared pricing model, shared concerns for data redundancy, security, and compliance, and a green computing push to reduce the number of servers are all reasons driving the use of community cloud technology. Security considerations over business data in a shared environment are a stumbling block to the market's expansion. Government measures to encourage the adoption of community cloud technology in the commercial and public sectors, as well as investment in cloud technology by the research and education sectors, are likely to drive the industry forward in the future years.
Cost-effectiveness associated with the adoption is to drive the market growth.
Growing demand for cloud-based services, as well as the need to minimize infrastructure costs in many industries such as finance, government, education, gaming, and healthcare, has necessitated the adoption of this deployment paradigm. Community cloud not only lowers total cost of ownership (TCO) by pooling infrastructure and service costs, but it also boosts productivity.
Favorable government initiatives to contribute to market expansion.
Various governments across the world are investing in community cloud adoption that meets regulatory criteria, which will fuel the market's growth in the future years. The processing systems of many government agencies that execute transactions with one another might be shared infrastructure. The renters will save money with this configuration, and their data traffic will be reduced. These advantages are available to federal agencies in the United States. Community Cloud can be used by government agencies in the United States that have comparable security, audit, and privacy needs. Users are confident enough to invest in the platform for their initiatives because it is community-based.
Logical segmentation and its growing need to contribute to market development.
A system or application hosted on cloud services may be required by several organizations. The cloud provider can allow many users to connect to the same environment while also logically segmenting their sessions. This approach eliminates the need for different servers for each client with the same goals. Instead of accessing the public cloud, agencies can utilize this approach to test apps with high-end security requirements. Given the legislative requirements for Community Clouds, this might be a good chance to try out some of the features of a Public Cloud service.
The flexibility and scalability parameters to increase the market size.
Community cloud ensures that each of its users is compatible, allowing them to change attributes to suit their own needs. They also allow businesses to communicate with their remote workers and facilitate the usage of a variety of devices, such as smartphones and tablets. As a result, this sort of cloud service is more adaptable to the needs of its consumers. It is made up of a community of users and, as a result, it is scalable in terms of physical resources, services, and people. It accounts for demand growth, and all you have to do now is expand the user base.
Security considerations are to restrain the market growth.
In a Community Cloud, several organizations will have access to and management of the infrastructure, necessitating particular security configurations. The data is accessible to every member of the community who has given their permission. As a result, businesses must ensure that confidential information is not shared. Compliance rules and regulations inside a Community Cloud might be complicated. One organization's systems may be required to follow the rules and regulations of other organizations in the community.
Community cloud Market share, by geography
Source: Knowledge Sourcing Intelligence Analysis
Because of the continent's inventive progressions and early selection of innovation, North America is the largest market for community clouds. The United States is the most important contributor to regional trade. Europe is closely following the North American market. With growing usage in emerging nations like India and China, the Asia Pacific region is expected to expand at a significant compound annual growth rate in the future years.
|Market size value in 2019||US$2.202 billion|
|Market size value in 2026||US$14.806 billion|
|Growth Rate||CAGR of 31.29% from 2019 to 2026|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Component, Application, End-User Industry, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Salesforce, IBM, Cisco, Microsoft Corporation, Dell EMC, Atos SE, Amazon Web Services, ESDS, Akamai Technologies, CA Technologies|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What is the size of the global community cloud market?
A1. Community Cloud Market was valued at US$2.202 billion in the year 2019.
Q2. What will be the community cloud market size by 2026?
A2. The community cloud market is projected to reach a market size of US$14.806 billion by 2026.
Q3. What are the growth prospects for the community cloud market?
A3. The global community cloud market is projected to grow at a CAGR of 31.29% over the forecast period.
Q4. What factors are anticipated to drive the community cloud market growth?
A4. The growing demand for a single regulatory and network security standard throughout the globe is a major driver of the community cloud market growth.
Q5. Which region holds the maximum market share of the community cloud market?
A5. North America holds a significant share of the community cloud market.
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