Public Cloud Market Benefits from Adoption Across SMEs and Startups

The global public cloud market size was estimated at USD 636.5 billion in 2023 and is projected to reach USD 1,987.79 billion by 2030, growing at a CAGR of 17.0% from 2024 to 2030. As numerous industries embrace advanced technologies, digital transformation and intelligence upgrades have become critical for business sustainability and competitiveness.

The increasing preference for public cloud services is largely attributed to advantages such as cost-efficiency, rapid deployment, and operational flexibility. Organizations utilize these services for various applications, including data storage, web-based communication, enterprise networking, and scalable computing resources.

The widespread adoption of cutting-edge technologies like Artificial Intelligence (AI) and machine learning has significantly propelled the expansion of cloud services. As businesses increasingly rely on data-driven decision-making, the demand for real-time analytics, seamless data sharing, robust storage capabilities, and efficient customer communication has surged, reinforcing the importance of public cloud infrastructure.

Companies across sectors have been revamping internal structures by integrating cloud-enabled solutions for regulatory compliance, data recovery, network transformation, and sustainable technology initiatives. For example, in May 2024, Subway IP LLC enhanced its digital customer experience by introducing self-serve kiosks with end-to-end digital order management across Germany, the UK, and Finland. Additionally, advanced digital menu boards were deployed to deliver promotional and product updates efficiently.

The entertainment and media industry’s increasing need for online streaming and personalized content delivery has further boosted the public cloud market. Features such as real-time traffic handling, workload optimization, customizable user experiences, and improved cost control and security make public cloud an attractive solution for this sector.

Similarly, the retail and e-commerce industry is leveraging cloud technology to meet fluctuating demand during peak seasons. Cloud platforms allow these businesses to scale resources dynamically and reduce overhead costs by paying only for the capacity used. A notable instance is Home Depot’s extended partnership with Google Cloud in April 2024 to enhance technology infrastructure and streamline processes for scalable operations.

Order a free sample PDF of the Public Cloud Market Intelligence Study, published by Grand View Research.

Key Market Trends & Insights

• North America led the global public cloud market in 2023, accounting for 39.2% of total revenue.
• The U.S. emerged as the top contributor within the North American region in the same year.
• Software as a Service (SaaS) dominated the services segment, holding 54.0% revenue share in 2023.
• Large enterprises led by enterprise size, accounting for the highest market share.
• Banking, Financial Services, and Insurance (BFSI) represented the largest end-use segment in 2023.

Market Size & Forecast

• 2023 Market Size: USD 636.5 Billion
• 2030 Market Size (Projected): USD 1,987.79 Billion
• CAGR (2024–2030): 17.0%
• Leading Region: North America
• Fastest Growing Region: Asia Pacific

Key Public Cloud Company Insights

Major players in the public cloud market include Amazon.com, Inc., Google, Microsoft, Alibaba Cloud, Tencent, and others. To keep pace with growing market demands and rising competition, these companies are prioritizing innovation through service enhancements, user-centric offerings, government partnerships, and geographic expansions.

• Amazon Web Services, Inc. (AWS), a subsidiary of Amazon, offers a suite of on-demand cloud services including computing, storage, analytics, and enterprise applications, on a metered, pay-as-you-go basis—an approach widely favored across industries.
• Google, another significant technology leader, delivers comprehensive cloud solutions such as infrastructure modernization, AI, security, databases, and productivity tools tailored to both business and individual users.

Key Public Cloud Companies

• Alibaba Cloud
• Amazon Web Services, Inc.
• Google
• IBM
• Microsoft
• Oracle
• Salesforce, Inc.
• Tencent
• Broadcom
• SAP

Explore Horizon Databook – The world's most expansive market intelligence platform developed by Grand View Research.

Conclusion

The public cloud market is undergoing rapid expansion, driven by digital transformation across industries, the growing reliance on real-time data and AI technologies, and the scalability needs of modern businesses. As organizations prioritize agility, cost-efficiency, and innovation, public cloud solutions are becoming foundational to enterprise strategies. With North America leading current adoption and Asia Pacific projected as the fastest-growing region, the market is poised for substantial evolution and long-term growth.