Cloud Computing Services Industry Set to Boom

ResearchAndMarkets.com has published the results of their exploration into the impact of COVID-19 on cloud computing services.

In particular, they found that the global market for such services, which was estimated at USD 313.1 billion in 2020, is projected to reach USD 937.5 billion by 2027. This represented a compound annual growth rate (CAGR) of 17%.  Two interesting subsegments of cloud computing services to keep an eye are infrastructure-as-a-service (with a projected CAGR of 18.4%, reaching USD 449.3 billion by 2027) and software-as-a-service (with a projected CAGR of 15.1%, reaching USD 145.7 billion by 2027).

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