The global cloud computing market is projected to reach $1,402.7 billion by 2030, at a CAGR of 16.8% from 2023 to 2030. Cloud computing is gaining traction due to its increased implementation by different enterprises for notable benefits, such as cost savings, increased productivity, speed and efficiency, performance, and security. The key factors driving the growth of the cloud computing market are the increase in adoption of cloud computing services, personalized customer experience, rising demand for AI, and increasing adoption of technologies such as ML and IoT. The rising government initiatives and consistently rising adoption of cloud computing solutions among businesses are expected to offer significant growth opportunities for the cloud computing market.
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