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In 2022, software as a service (SaaS) is expected to represent the largest segment of the global cloud computing market, with *** billion U.S. dollars in revenues. Revenues from all three cloud segments are forecasted to increase in 2023, being important enterprise computing components.

Cloud computing segments

Cloud computing can be compartmentalized into software as a service (SaaS), platform as a service (PaaS), and infrastructure as a service (IaaS). Each of these service models can be differentiated by the degree of responsibility and ability to have direct control over the resources.

The growth in cloud computing

For several years now, cloud computing has been revolutionizing the IT and business landscape as it provides highly scalable computer system resources on demand. Because the cloud increases efficiency, speeds up deployment, and is secure, it is considered a good choice in a variety of business contexts. Notably, organizations increasingly opt for hybrid and multi cloud strategies, because these architectures provide great flexibility to move workloads to where they need to be.