Industry research company MarketsandMarkets announced on Friday it has released a new report that provides a detailed analysis and forecast of the global government cloud market, projecting it to be worth $18.48 billion by 2018.
The comprehensive 345-page report, “Government Cloud Market By Agency (Federal Cloud, State and Local Cloud, Defense & Military Cloud), By Delivery (Saas, Paas, Iaas), By Deployment (Public, Private, Hybrid, Community) Global Advancements, Market Forecasts and Analysis (2013 – 2018)”, highlights the drivers and obstacles for this market, as well as the insights on trends, opportunities and challenges.
The move comes a couple weeks after MarketsandMarkets reported that the cloud community market will be worth $2.49 billion by 2018.
Some of the key findings in the report include that the government cloud market is estimated to grow from $2.87 billion in 2013 to $18.48 billion in 2018, representing a CAGR of 45.1 percent over the five-year span.
Government organizations are currently seen as the major adaptor for cloud technologies, with North America being positioned as the biggest market for government cloud.
This could change over the next six years, as Asia Pacific will see a drastic increase in market traction to eventually become the biggest market for government cloud in the world.
The report illustrates how federal, state and local government bodies are adopting private and community clouds internally or in a group of departments.
However, there appears to be less traction for public and hybrid clouds, and is based on the discretion of the agencies to adopt their choice of deployment models.
Although each deployment model comes with its own share of advantages and disadvantages, the overall implementation of government cloud will largely help these agencies to fulfill their demands, improve automation, develop core competency and adopt sustainability practices.
The MarketsandMarkets report also shows how the cloud movement requires a shared vision among government organizations and other areas of businesses.
As government agencies continue to adopt the cloud strategy, they are able to move from partial virtualization to a fully pooled visualization, enabling public agencies and other departments to work together to achieve mutual goals, including reducing costs and improving the quality of services.
The report’s release comes just weeks after former UD National Security Agency contractor Edward Snowden’s revealed the existence of a government surveillance program, which is projected to result in a loss of $35 billion in cloud business for US cloud providers over the next three years.