While the community cloud market is rising at a slow pace, some organizations and various governments have already started developing community cloud model into their current system scenarios. Community Cloud tier one technology contributors such as EMC, VMware, Microsoft, AWS, IBM, CSC, CA Technologies, Amadeus and many others are looking forward to leverage better competitive advantage in this emerging cloud market model, thereby creating flexible payment model and stack services that facilitate quicker customer adoption of the same.
Factors like data security, regulatory compliance, high performance, low latency infrastructure, and economy of scale are turning out to be the driving force for this market. Also if we consider verticals like Healthcare, Banking, and Finance in which there is an exponential growth in the number of customers and so transaction information demands for scalable and cost effective data storage, retrieval and computation services.
The major forces driving this market are the data security, regulatory compliance, economy of scale, high performance and low latency infrastructure. Furthermore, in verticals such as healthcare, banking and finance exponential swell in customer number and transaction information demands for scalable and cost effective data storage, retrieval and computation services. Further, organizations are mandate to follow compliance standards such as FISMA and HIPAA.
The Community Cloud market is estimated to grow from $566.1 million in 2013 to $2.49 billion in 2018. This represents a Compounded Annual Growth Rate (CAGR) of 34.5% from 2013 to 2018. In the current scenario, government and BFSI vertical continues to be the largest adapter for community cloud deployment solutions. In terms of regions, North America is expected to be the biggest market in terms of revenue contribution, while the European region is expected to experience increased market traction, in the due course.