Global Cloud Computing Market Size & Outlook, 2023-2030

The cloud computing industry worldwide is expected to reach a projected revenue of US$ 2,390,184.5 million by 2030. A compound annual growth rate of 21.8% is expected of the worldwide cloud computing industry from 2024 to 2030.
Revenue, 2023 (US$M)
$602,310.7
Forecast, 2030 (US$M)
$2,390,184.5
CAGR, 2024 - 2030
21.8%
Report Coverage
Worldwide

Global cloud computing market highlights

  • The global cloud computing market generated a revenue of USD 602,310.7 million in 2023 and is expected to reach USD 2,390,184.5 million by 2030.
  • The market is expected to grow at a CAGR (2024 - 2030) of 21.8% by 2030.
  • In terms of segment, software as a service (saas) accounted for a revenue of USD 324,054.3 million in 2023.
  • Infrastructure as a Service (IaaS) is the most lucrative service segment registering the fastest growth during the forecast period.
  • In terms of region, North America was the largest revenue generating market in 2023.
  • Country-wise, UK is expected to register the highest CAGR from 2024 to 2030.

Global data book summary

Market revenue in 2023USD 602,310.7 million
Market revenue in 2030USD 2,390,184.5 million
Growth rate21.8% (CAGR from 2023 to 2030)
Largest segmentSoftware as a service (saas)
Fastest growing segmentInfrastructure as a Service (IaaS)
Historical data covered2018 - 2022
Base year for estimation2023
Forecast period covered2024 - 2030
Quantitative unitsRevenue in USD million
Market segmentationInfrastructure as a Service (IaaS), Platform as a Service (PaaS), Software as a Service (SaaS)

Other key industry trends

  • In terms of revenue, the North America accounted for 39.2% of the global cloud computing market in 2023.
  • By country, the U.S. is projected to lead the global market in terms of revenue in 2030.
  • By country, UK is the fastest growing regional market and is projected to reach USD 101,585.3 million by 2030.

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Cloud Computing Market Companies

Name Profile # Employees HQ Website

Global cloud computing market outlook

The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to cloud computing market will help companies and investors design strategic landscapes.


Software as a service (saas) was the largest segment with a revenue share of 53.8% in 2023. Horizon Databook has segmented the Global cloud computing market based on infrastructure as a service (iaas), platform as a service (paas), software as a service (saas) covering the revenue growth of each sub-segment from 2018 to 2030.


  • Global Cloud Computing Service Outlook (Revenue, USD Million, 2018-2030)
    • Infrastructure as a Service (IaaS)
    • Platform as a Service (PaaS)
    • Software as a Service (SaaS)
  • Global Cloud Computing End Use Outlook (Revenue, USD Million, 2018-2030)
    • BFSI
    • IT & Telecom
    • Retail & Consumer Goods
    • Manufacturing
    • Energy & Utilities
    • Healthcare
    • Media & Entertainment
    • Government & Public Sector
    • Others
  • Global Cloud Computing Deployment Outlook (Revenue, USD Million, 2018-2030)
    • Public
    • Private
    • Hybrid
  • Global Cloud Computing Workload Outlook (Revenue, USD Million, 2018-2030)
    • Application Development & Testing
    • Data Storage & Backup
    • Resource Management
    • Orchestration Services
    • Others
  • Global Cloud Computing Enterprise Size Outlook (Revenue, USD Million, 2018-2030)
    • SME
    • Large Enterprise

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Horizon Databook provides a detailed overview of global-level data and insights on the Global cloud computing market , including forecasts for subscribers. This global databook contains high-level insights into Global cloud computing market from 2018 to 2030, including revenue numbers, major trends, and company profiles.

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Global cloud computing market size, by regions, 2018-2030 (US$M)

Top 10 countries: Cloud computing market size, 2023 (US$M)

Global cloud computing market share, by service, 2023 & 2030 (%, US$M)

Cloud computing market: Opportunity assessment by country

Global cloud computing market, by region, 2023 (US$M)

Global cloud computing market size, by regions, 2018-2030 (US$M)

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