Flexibility offered and ease of management. Additionally, privacy and security for highly sensitive and mission-critical data are being offered due to the private deployment, this is also one of the drivers for the private cloud market.

Platform-as-a-Service is expected to witness the highest growth rate during the forecast period, owing to increase in application development and platform-based cloud services. Moreover, increase in demand for unlimited storage, security, protected networks, and reduced IT expenditure are anticipated to drive the Infrastructure-as-a-Service model in private cloud services adoption among SMEs

The global private cloud services market was valued at $3,703 million in 2016, and is projected to reach $14,111 million by 2023, growing at a CAGR of 21.1% from 2017 to 2023.

The increase in cloud adoption across several industry verticals including BFSI, retail, healthcare, manufacturing, and government & education and surge in ICT expenditure are anticipated to augment the market penetration. The prominent markets, such as North America, Europe, and Asia-Pacific, provide growth opportunities to the global market. Moreover, growth in adoption of Infrastructure-as-a-Service (IaaS) among SMEs is anticipated to fuel the private cloud services market growth in the near future.

The banking, financial services, and insurance (BFSI) segment has witnessed high demand in the global private cloud services market in 2016 due to data security over expanding customer base and internet user. In addition, reduced investment for new hardware and pay-as-you-go deployment model in private cloud are expected to fuel the market growth in the near future. Moreover, the government & education and healthcare segments have witnessed increased adoption of cloud across various regions, owing to enhanced security and improved reliability & scalability of private cloud services.

Download Sample Report (Get Full Insights in PDF – 175 Pages) at:

https://www.alliedmarketresearch.com/request-sample/2694

North America was the largest private cloud services market in the world in 2016, owing to the growth in demand for low-cost cloud infrastructure development and software services. Developing countries, including China, Australia, Japan, and Brazil, offer lucrative scope for market development. For instance, in May 2016, EMC Corporation planned to launch Virtustream, one of its subsidiaries for cloud service in Australia. This strategic move is expected to expand the companys presence in Asia-Pacific. In addition, industry participants have focused on improving their private cloud services to ensure competence and effectiveness of the private cloud model across other emerging markets such as Latin America, the Middle East, and Africa.

North America was the highest revenue contributor in 2016, accounting for around 36.9% share of the overall private cloud services market. In addition, Asia-Pacific is projected to grow at the highest CAGR of 23.2% during the forecast period, driven by growth in penetration of workforce mobility and cloud adoption by small- and mid-sized companies.

For Purchase Enquiry:https://www.alliedmarketresearch.com/purchase-enquiry/2694

Profiling Key Players: Cisco Systems, Inc., Dell Inc., HP Inc., IBM Corporation, Microsoft Corporation, Oracle Corporation, Rackspace Hosting, Inc., Red Hat, Inc., Salesforce.com, Inc., and VMware, Inc.

Thanks for reading this article; you can also get individual chapter wise section or region wise report version like North America, Europe or Asia at:

https://www.alliedmarketresearch.com/request-for-customization/2694

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

AMR launched its user-based online library of reports and company profiles, Avenue. An e-access library is accessible from any device, anywhere, and at any time for entrepreneurs, stakeholders, and researchers and students at universities. With reports on more than 60,000 niche markets with data comprising of 600,000 pages along with company profiles on more than 12,000 firms, Avenue offers access to the entire repository of information through subscriptions. A hassle-free solution to clients’ requirements is complemented with analyst support and customization requests.

If you have any special requirements, please let us know and we will offer you the report as per your requirements.

Tags: Private Cloud Services Market, Private Cloud Services, cloud service

See Campaign: https://www.alliedmarketresearch.com/
Contact Information:
Contact: David Correa 5933 NE Win Sivers Drive #205, Portland, OR 97220 United States Toll Free: 1-800-792-5285 UK: +44-845-528-1300 Hong Kong: +852-301-84916 India (Pune): +91-20-66346060 Fax: +1-855-550-5975 help@alliedmarketresearch.com Web: https://www.alliedmarketresearch.com Follow Us on: LinkedIn Twitter

Tags:
Menafn, Reportedtimes, PR-Wirein, iCN Internal Distribution, Research Newswire, English

Contact Information:

Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on: LinkedIn Twitter