The global government cloud market is growing at a CAGR of 15.4% during 2018–2023 and will reach $49.2 billion by 2023. Increased reduction in total cost of ownership (TCO) and rise in government inclination towards digital transformation are the major factors driving the growth of the market.
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On the basis of solution, the government cloud market is categorized into product and service, where the market for products is estimated to generate higher revenue for government cloud, due to its high adoption owing to the increased awareness of its benefits. However, during the forecast period, the market for services is expected to exhibit faster growth. This can be attributed to the fact that the quality and delivery time of services are controlled by certain predefined service level agreements (SLA), which makes processes more efficient and transparent.
Services are further categorized into training & consulting, integration & migration, and support and maintenance; of them, training and consulting services are estimated to hold the largest share in the government cloud market in 2017, due to enormous spending on awareness programs, meetings, and brainstorming activities for the implementation of cloud services in the government sector.
North America is estimated to contribute the highest revenue, accounting for nearly 34% to the global government cloud market in 2017 and is expected to generate a revenue of more than $15,000 million by 2023, driven by the high demand and huge investments in cloud-based solutions from government agencies.
Some of the key players operating in the government cloud market are Google Inc., International Business Machine Corporation (IBM), Microsoft Corporation, Cisco Systems Inc., Oracle Corporation, Salesforce.com Inc., Hewlett Packard Enterprise, VMware Inc. and Intel Corporation.
Request for a free sample copy of this research report @ https://www.psmarketresearch.com/market-analysis/government-cloud-market/report-sample
On the basis of solution, the government cloud market is categorized into product and service, where the market for products is estimated to generate higher revenue for government cloud, due to its high adoption owing to the increased awareness of its benefits. However, during the forecast period, the market for services is expected to exhibit faster growth. This can be attributed to the fact that the quality and delivery time of services are controlled by certain predefined service level agreements (SLA), which makes processes more efficient and transparent.Services are further categorized into training & consulting, integration & migration, and support and maintenance; of them, training and consulting services are estimated to hold the largest share in the government cloud market in 2017, due to enormous spending on awareness programs, meetings, and brainstorming activities for the implementation of cloud services in the government sector.
North America is estimated to contribute the highest revenue, accounting for nearly 34% to the global government cloud market in 2017 and is expected to generate a revenue of more than $15,000 million by 2023, driven by the high demand and huge investments in cloud-based solutions from government agencies.
Some of the key players operating in the government cloud market are Google Inc., International Business Machine Corporation (IBM), Microsoft Corporation, Cisco Systems Inc., Oracle Corporation, Salesforce.com Inc., Hewlett Packard Enterprise, VMware Inc. and Intel Corporation.
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