: Expected to see the highest growth rate as enterprises retire legacy data centers in favor of virtualized compute, storage, and networking. AWS remains the market leader here, followed by Azure and Google Cloud.
The industry is categorized into three primary service models, each serving different technical and business needs: cloud hosting software
The global cloud computing market is undergoing a massive transformation, projected to grow from in 2024 to $2.28 trillion by 2030 , according to MarketsandMarkets . This surge is primarily driven by the explosion of Generative AI (GenAI) , the maturation of hybrid cloud architectures , and a shift from simple cost-cutting to delivering tangible business value. Market Overview and Core Segments : Expected to see the highest growth rate