Cloud Computing Services Market to Reach $2 Trillion by 2032 at 18.1% CAGR: Allied Market Research

The cloud computing services market is set to grow from $398.9 billion in 2022 to $2 trillion by 2032, with a CAGR of 18.1%. The growth is driven by the increasing use of mobile devices and the demand for cloud services to enhance business operations. Data privacy concerns and cost constraints may hinder growth. However, opportunities exist in the growth of serverless computing and function-as-a-service (FaaS), and increased digitalisation.