“Cloud Professional Services Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on cloud professional services market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Where is the largest and fastest growing market for cloud professional services? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The cloud professional services market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
- 1) By Service Type: Consulting; Application Development and Modernization; Implementation and Migration; Integration and Optimization
- 2) By Deployment Model: Public Cloud; Private Cloud
- 3) By Organization Size: Small and Medium-sized Enterprises (SMEs); Large Enterprises
- 4) By Verticals: BFSI; Manufacturing; Healthcare and Life Sciences; IT and ITES; Government; Telecommunications; Retail and Consumer Goods; Energy and utilities; Other Verticals
- Companies Mentioned: Accenture plc; HCL Technologies; Cognizant; Capgemini SE; Cisco Systems Inc
- Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
- Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
- Delivery Format: PDF, Word and Excel Data Dashboard.
Executive Summary
Major players in the cloud professional services market are: Accenture plc, HCL Technologies, Cognizant, Capgemini SE, Cisco Systems Inc., DXC Technology, Hitachi Vantara Corporation, Infosys Limited, NTT Data Corporation, Amazon.com Inc., Deloitte Touche Tohmatsu Limited, Ernst & Young Global Limited, Fujitsu Limited, Wipro Limited, PricewaterhouseCoopers, Google LLC, Microsoft Corporation, Alibaba Group Holding Limited, Hewlett Packard Enterprise Company, International Business Machines Corporation, T-Systems International GmbH, Rackspace Technology Inc., and SAP SE.
The global cloud professional services market is expected to grow from $25.2 billion in 2022 to $29.84 billion in 2023 at a compound annual growth rate (CAGR) of 18.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The cloud professional services market is expected to grow to $58.57 billion in 2027 at a CAGR of 18.4%.
The cloud professional service market includes revenues earned by entities by providing cloud migration services, cloud native application development services, cloud migration, deployment, customization, private and public cloud integration. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
Cloud professional service refers to the services provided based on cloud technology infrastructure that involves the selection, deployment, and ongoing management of various cloud-based resources over the internet. The cloud professional services are used by various companies for planning and managing their cloud infrastructure as per the needs of the company.
North America was the largest region in the cloud professional services market in 2022. Asia-Pacific is expected to be fastest growing region in the forecast period. The regions covered in the cloud professional services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of services in cloud professional service are consulting, application development and modernization, implementation and migration, integration, and optimization. Consulting is used for the upgradation of current enterprise infrastructure, accessing the current system, and performing quality validation and verification. Consulting refers to a cloud professional service that recommends clients with the right architecture that meets their client's business needs. The deployment models are public cloud and private cloud. The different organization sizes include small and medium-sized enterprises (SMEs), and large enterprises. The various verticals are BFSI, manufacturing, healthcare and life sciences, IT and ITES, government, telecommunications, retail and consumer goods, energy and utilities, and others.
The rising focus on digitizing business processes is expected to propel the growth of the cloud professional services market going forward. Digitalization of business processes refers to a process of using digital tools to manage data and other information digitally and to convert production and other business functions into more efficient, productive, and revenue-generating. These processes involve the use of cloud professional services. This helps in increasing expenditure towards digitalization, collection, and storage of data and sensitive information in a cloud environment to reduce risk and optimize business outcomes as well, and also helps in the smooth running of work from home. For instance, according to Software AG, a Germany-based Software Company, in 2020, 97% of IT directors stated their organization invested in digital transformation initiatives and also expect that expenditure to continue in 2021. Further, according to data from Owl Labs a US-based video conferencing company, prior to the pandemic (2020) only 30% of all employees in the US worked remotely. Post-pandemic 70% of employees are working remotely, indicating a dependence on technology. Therefore, rapid digitalization in businesses is driving the growth of the content recommendation engine market.
Technological innovations are the key trend gaining popularity in the cloud professional services market. Major companies operating in the market are introducing new technologies to sustain their position in the market. For instance, in July 2022, Sygitech Cloud Solutions, an India-based IT service company launched 2 new technology platforms SygiOps and SygiCloudSync, that help in reducing the human elements and errors from a task. This software's aim is to lighten the workload of IT staff members and increase productivity by automating their first routine duties. With the help of automated cloud-based technology, it helps to store the data automatically without any human intervention.
In July 2021, Accenture plc, an Ireland-based professional service company specializing in information technology services acquired Linkbynet for a deal amount of $3 billion. Through this acquisition, Accenture aims to expand its cloud optimization and managed services, cloud transformation, and cloud security portfolio and service reach to Europe and the Asia-Pacific. Linkbynet is a France-based cloud technology service company that offers business outsourcing, cloud services, web electronic business and information systems, and cloud security to various industries.
The countries covered in the cloud professional services market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The cloud professional services market research report is one of a series of new reports from The Business Research Company that provides cloud professional services market statistics, including cloud professional services industry global market size, regional shares, competitors with an cloud professional services market share, detailed cloud professional services market segments, market trends and opportunities, and any further data you may need to thrive in the cloud professional services industry. This cloud professional services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Table of Contents
1. Executive Summary
2. Cloud Professional Services Market Characteristics
3. Cloud Professional Services Market Trends And Strategies
4. Cloud Professional Services Market - Macro Economic Scenario
- 4.1. COVID-19 Impact On Cloud Professional Services Market
- 4.2. Ukraine-Russia War Impact On Cloud Professional Services Market
- 4.3. Impact Of High Inflation On Cloud Professional Services Market
5. Cloud Professional Services Market Size And Growth
- 5.1. Global Cloud Professional Services Historic Market, 2017-2022, $ Billion
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints On The Market
- 5.2. Global Cloud Professional Services Forecast Market, 2022-2027F, 2032F, $ Billion
- 5.2.1. Drivers Of The Market
- 5.2.2. Restraints On the Market
6. Cloud Professional Services Market Segmentation
- 6.1. Global Cloud Professional Services Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Consulting
- Application Development and Modernization
- Implementation and Migration
- Integration and Optimization
- 6.2. Global Cloud Professional Services Market, Segmentation By Deployment Model, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Public Cloud
- Private Cloud
- 6.3. Global Cloud Professional Services Market, Segmentation By Organization Size, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Small and Medium-sized Enterprises (SMEs)
- Large Enterprises
- 6.4. Global Cloud Professional Services Market, Segmentation By Verticals, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- BFSI
- Manufacturing
- Healthcare and Life Sciences
- IT and ITES
- Government
- Telecommunications
- Retail and Consumer Goods
- Energy and utilities
- Other Verticals
7. Cloud Professional Services Market Regional And Country Analysis
- 7.1. Global Cloud Professional Services Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 7.2. Global Cloud Professional Services Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
8. Asia-Pacific Cloud Professional Services Market
- 8.1. Asia-Pacific Cloud Professional Services Market Overview
- Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
- 8.2. Asia-Pacific Cloud Professional Services Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 8.3. Asia-Pacific Cloud Professional Services Market, Segmentation By Verticals, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
9. China Cloud Professional Services Market
- 9.1. China Cloud Professional Services Market Overview
- 9.2. China Cloud Professional Services Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
- 9.3. China Cloud Professional Services Market, Segmentation By Verticals, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
10. India Cloud Professional Services Market
- 10.1. India Cloud Professional Services Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 10.2. India Cloud Professional Services Market, Segmentation By Verticals, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
11. Japan Cloud Professional Services Market
- 11.1. Japan Cloud Professional Services Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 11.2. Japan Cloud Professional Services Market, Segmentation By Verticals, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
12. Australia Cloud Professional Services Market
- 12.1. Australia Cloud Professional Services Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 12.2. Australia Cloud Professional Services Market, Segmentation By Verticals, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
13. Indonesia Cloud Professional Services Market
- 13.1. Indonesia Cloud Professional Services Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 13.2. Indonesia Cloud Professional Services Market, Segmentation By Verticals, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
14. South Korea Cloud Professional Services Market
- 14.1. South Korea Cloud Professional Services Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 14.2. South Korea Cloud Professional Services Market, Segmentation By Verticals, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
15. Western Europe Cloud Professional Services Market
- 15.1. Western Europe Cloud Professional Services Market Overview
- 15.2. Western Europe Cloud Professional Services Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 15.3. Western Europe Cloud Professional Services Market, Segmentation By Verticals, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
16. UK Cloud Professional Services Market
- 16.1. UK Cloud Professional Services Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 16.2. UK Cloud Professional Services Market, Segmentation By Verticals, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
17. Germany Cloud Professional Services Market
- 17.1. Germany Cloud Professional Services Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 17.2. Germany Cloud Professional Services Market, Segmentation By Verticals, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
18. France Cloud Professional Services Market
- 18.4. France Cloud Professional Services Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 18.5. France Cloud Professional Services Market, Segmentation By Verticals, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
19. Eastern Europe Cloud Professional Services Market
- 19.1. Eastern Europe Cloud Professional Services Market Overview
- 19.2. Eastern Europe Cloud Professional Services Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 19.3. Eastern Europe Cloud Professional Services Market, Segmentation By Verticals, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
20. Russia Cloud Professional Services Market
- 20.1. Russia Cloud Professional Services Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 20.2. Russia Cloud Professional Services Market, Segmentation By Verticals, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
21. North America Cloud Professional Services Market
- 21.1. North America Cloud Professional Services Market Overview
- 21.2. North America Cloud Professional Services Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 21.3. North America Cloud Professional Services Market, Segmentation By Verticals, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
22. USA Cloud Professional Services Market
- 22.1. USA Cloud Professional Services Market Overview
- 22.2. USA Cloud Professional Services Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 22.3. USA Cloud Professional Services Market, Segmentation By Verticals, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
23. South America Cloud Professional Services Market
- 23.1. South America Cloud Professional Services Market Overview
- 23.2. South America Cloud Professional Services Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 23.3. South America Cloud Professional Services Market, Segmentation By Verticals, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
24. Brazil Cloud Professional Services Market
- 24.1. Brazil Cloud Professional Services Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 24.2. Brazil Cloud Professional Services Market, Segmentation By Verticals, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
25. Middle East Cloud Professional Services Market
- 25.1. Middle East Cloud Professional Services Market Overview
- 25.2. Middle East Cloud Professional Services Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 25.3. Middle East Cloud Professional Services Market, Segmentation By Verticals, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
26. Africa Cloud Professional Services Market
- 26.1. Africa Cloud Professional Services Market Overview
- 26.2. Africa Cloud Professional Services Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 26.3. Africa Cloud Professional Services Market, Segmentation By Verticals, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
27. Cloud Professional Services Market Competitive Landscape And Company Profiles
- 27.1. Cloud Professional Services Market Competitive Landscape
- 27.2. Cloud Professional Services Market Company Profiles
- 27.2.1. Accenture plc
- 27.2.1.1. Overview
- 27.2.1.2. Products and Services
- 27.2.1.3. Strategy
- 27.2.1.4. Financial Performance
- 27.2.2. HCL Technologies
- 27.2.2.1. Overview
- 27.2.2.2. Products and Services
- 27.2.2.3. Strategy
- 27.2.2.4. Financial Performance
- 27.2.3. Cognizant
- 27.2.3.1. Overview
- 27.2.3.2. Products and Services
- 27.2.3.3. Strategy
- 27.2.3.4. Financial Performance
- 27.2.4. Capgemini SE
- 27.2.4.1. Overview
- 27.2.4.2. Products and Services
- 27.2.4.3. Strategy
- 27.2.4.4. Financial Performance
- 27.2.5. Cisco Systems Inc
- 27.2.5.1. Overview
- 27.2.5.2. Products and Services
- 27.2.5.3. Strategy
- 27.2.5.4. Financial Performance
28. Key Mergers And Acquisitions In The Cloud Professional Services Market
29. Cloud Professional Services Market Future Outlook and Potential Analysis
30. Appendix
- 30.1. Abbreviations
- 30.2. Currencies
- 30.3. Historic And Forecast Inflation Rates
- 30.4. Research Inquiries
- 30.5. The Business Research Company
- 30.6. Copyright And Disclaimer