The Global Distributed Cloud Market is expecting around 25% CAGR during 2021-26, cites MarkNtel Advisors in their research report. The distributed cloud refers to the distribution of public cloud services to various physical locations, and the operation, updates, governance, & evolution of services are the concern of the cloud service providers. The distributed cloud offers the system the facility of encryption, authentication, & authorization and can preserve the data even if the machine stops working due to unwanted conditions.
The rising trend of digitization across major industry verticals and increasing demand for low-cost cloud services are projected to drive the growth of the Global Distributed Cloud Market during the forecast period. In addition, the mounting adoption of the Internet of Things (IoT), Artificial Intelligence (AI), & other applications that require the processing of substantial data amounts in real-time also proliferate the demand for distributed clouds. Adopting distributed cloud technology helps companies overcome the challenge of complying with industry or country-specific data privacy norms.
Moreover, the burgeoning usage of mobile technologies is also generating huge data chunks, thereby creating the need for efficient data management strategies. Additionally, the rising demand for data sharing & confidentiality across different industry verticals shall further augment the demand for distributed clouds in the coming years.
In 2020, the Covid-19 pandemic also propelled the growth of the Global Distributed Cloud Market, primarily due to the adoption of work-from-home policies among organizations, increased data sharing over the cloud, and the need for immediate real-time response, further states the research report, “Global Distributed Cloud Market Analysis, 2021.”
BFSI Sector to Contribute Significantly to the Global Distributed Cloud Market through 2026
Among all End-Users, the BFSI sector captures the largest market share due to the increasing demand for salable, agile, & cost-effective computing across banks & financial institutions. The distributed cloud helps optimize banking operations while delivering innovative services to customers, i.e., subsequently propelling its adoption in the BFSI sector. Besides, the mounting trend of digital services & their applications in banks & financial institutions is also fueling the overall market growth.
On the other hand, the increasing disposable income and growing need for integrating automation technology into vehicles are increasing the demand for the distributed cloud in the automotive industry, which, in turn, would help enhance the customer experience. Hence, based on these aspects, the automotive industry is likely to acquire a substantial share in the Global Distributed Cloud Market in the forecast period.
With Surging Demand for Industrial Automation, North America to Acquire the Largest Market Share during 2021-26
Geographically, among all regions, North America accounts for the largest share of the Global Distributed Cloud market and is expected to maintain its dominance during the forecast period, too. The prime factors driving the demand for Distributed Cloud in region are the rapid digitalization and the strong presence of leading IT industries. In addition, the surging demand for industrial automation and expanding applications of the Internet of things (IoT), cloud computing, etc., in North America are other crucial aspects propelling the regional market growth, reveals MarkNtel Advisors in their research report, “Global Distributed Cloud Market Analysis, 2021.”
According to MarkNtel Advisors, the leading industry players in the Global Distributed Cloud Market are Amazon Web Services, Digital-Ocean, Rackspace, Alibaba Cloud, Liquid Web, Microsoft Azure, Google Cloud Platform, VMware, Oracle Cloud, Verizon Cloud, Navisite, IBM Cloud, Open Nebula, Cloud Sigma, Dell Cloud.
Key Questions Answered in the Study: