Europe Cloud Computing Market Insights Forecasts to 2032

• The Europe Cloud Computing Market Size was valued at USD 56.85 Billion in 2022.

• The Market Size is Growing at a CAGR of 23.52% from 2022 to 2032.

• The Europe Cloud Computing Market Size is expected to reach 470.13 Billion by 2032.

The Europe Cloud Computing Market Size is expected to reach USD 470.13 Billion by 2032, at a CAGR of 23.52% during the forecast period 2022 to 2032.

Market Overview

Cloud computing is the delivery of computing services, such as servers, storage, databases, networking, software, analytics, and intelligence, over the cloud to provide faster innovation, more flexible resources, and economies of scale. Cloud computing offers flexible access to resources. As data and applications are no longer stored on a device, but in the cloud, they can be accessed at any time, regardless of the location or device. This can increase employee efficiency, which ultimately benefits the entire company cloud computing is a method of providing IT services in which outside vendors use the internet to provide computing resources and software tools. The customer only pays for the time they spend on the computer, as well as the storage and bandwidth they use, under this service model. Furthermore, cloud computing services are growing in popularity in Europe as a result of increased automation and agility, the need to provide a better customer experience, increased cost savings and return on investment, an increase in the adoption of remote work culture, and an increase in the demand for cloud-based business continuity tools and services. An increase in spending on cloud-based services, business expansions by large vendors across geographies to acquire untapped customer bases, the proliferation of digital content and an increase in internet usage, as well as the need for disaster recovery and contingency plans, are all expected to drive market growth in Europe.

Report Coverage

This research report categorizes the market for Europe's cloud computing market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Europe cloud computing market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Europe cloud computing market.

Driving Factors

Large corporations will increasingly use on-demand cloud computing services to accelerate the delivery of IT services in the European cloud computing sector. Large corporations used these facilities even more than small businesses, helping to keep the market stable and gaining a strategic advantage over competitors. Growing consumer demand for cloud computing to replace legacy, on-premise infrastructure has also fueled cloud computing adoption in large enterprises. The consistent adoption of cloud computing platforms to reduce IT infrastructure procurement and maintenance costs, as well as the rapid expansion of global cloud vendors within European countries, are driving cloud computing market growth in Europe. Furthermore, cloud-based collaboration tools allow employees to collaborate seamlessly regardless of their location. Real-time document sharing, video conferencing, and project management applications boost communication and productivity while encouraging organizational innovation will boost market growth during the forecast period.

Restraining Factors

Organizations face the difficulty of ensuring robust security measures and compliance with data protection regulations as the volume and value of data increases. Cloud adoption in certain industries, such as finance and healthcare, is hampered by concerns about unauthorized access, data breaches, and data residency requirements.

Market Segment

• In 2022, the software-as-a-service segment accounted for the largest revenue share over the forecast period.

Based on the service, the Europe cloud computing market is segmented into software-as-a-service, platform-as-a-service, and infrastructure-as-a-service. Among these, the software-as-a-service segment has the largest revenue share over the forecast period. SaaS (Software as a Service) is a software authorization model that involves the subscription-based distribution of centrally hosted software. The increasing demand for Customer Relationship Management (CRM), Accounting Management (AM), and Enterprise Resource Planning (ERP) tools has fueled the expansion of SaaS portals, which allow users to connect to applications via the Internet. The market for these platforms is expected to grow as the underlying infrastructure is managed by a service provider and customers scale up or down based on how they use their apps. 

• In 2022, the public cloud segment accounted for the largest revenue share over the forecast period.

Based on deployment mode, the Europe cloud computing market is segmented into private cloud, public cloud, and hybrid cloud. Among these, the public cloud segment has the largest revenue share over the forecast period. The public cloud model has been gaining popularity among businesses looking for cost-effective cloud solutions. This model enables businesses to host data and applications virtually. It also allows businesses to avoid investments in infrastructure and equipment when compared to the private cloud model. Another significant advantage of public cloud computing is its greater flexibility, which allows businesses to pay only for the computing resources that are used.

• In 2022, the large enterprises segment is expected to hold the largest share of the Europe cloud computing market during the forecast period.           

Based on the organization, the Europe cloud computing market is classified into large enterprises and SMEs. Among these, the large enterprises segment is expected to hold the largest share of the Europe cloud computing market during the forecast period. Large corporations are investing heavily in advanced technologies to boost overall efficiency and productivity. With an ever-increasing amount of data, large enterprises must invest in their IT infrastructure and technical expertise regularly to automate various tasks. As a result of cloud computing, many companies are large and well-known enough to have an established reputation and a strong brand image.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Europe cloud computing market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Deutsche Telekom
• OVHCloud
• Orange S.A
• Digital Ocean
• SAP SE
• Cloud Sigma
• Fuga Cloud

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development

• In October 2023, Amazon Web Services (AWS), a subsidiary of Amazon.com announced the launch of the AWS European Sovereign Cloud, a new, independent cloud for Europe designed to assist public sector customers and those in highly regulated industries in meeting the most stringent regulatory data residency and operational requirements.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2021 to 2032. Spherical Insights has segmented the Europe cloud computing market based on the below-mentioned segments:

Europe Cloud Computing Market, By Service

• Software-as-a-Service
• Platform-as-a-Service
• Infrastructure-as-a-Service

Europe Cloud Computing Market, By Deployment Model

• Private Cloud
• Public Cloud
• Hybrid Cloud

Europe Cloud Computing Market, By Organization

• Large Enterprises
• SMEs

Europe Cloud Computing Market, By Country

• United Kingdom
• Germany
• Italy
• France
• Spain
• Netherlands
• Rest of Europe