(EMAILWIRE.COM, June 21, 2018 ) The word ‘cloud services’ refers to delivery of information technology resources and applications on-demand through the internet platform. Companies in the cloud services industry provide access to servers, storage, databases and a broad set of application services managed by a hardware networking.

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The global cloud services market is valued at $293 billion in 2017. For companies to procure servers, storage devices and other software applications, and to hire professionals to develop and maintain websites and host applications are much more expensive than outsourcing these functions to third party managed services companies.

The market in the report is segmented into: infrastructure as a service, platform as a service, business process as a service and software as a service.

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The USA was the largest country in the cloud services market in 2017, accounting for almost two-fourth of the market share, followed by China and UK as the next largest countries in the market.

The top five competitors in the market made up one-third of the total market in 2017. IBM was the largest competitor, followed by Microsoft, Amazon, Google and Salesforce. IBM (International Business Machines Corporation) is an American multinational technology company headquartered in New York. IBM cloud provides cloud services such as standardized cloud infrastructure services, building customized clouds, creating hybrid environments.

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