Europe Cloud Computing Market share forecast to witness considerable growth from 2018 to 2024

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Europe Cloud Computing market share research by
applications and regions for 2018-2024 Global
Market Insights, Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Overview of Europe Cloud Computing Market

• Furthermore, the Europe cloud computing market
  growth is also triggered by the support from
  various government-led initiatives. For instance,
  the European Commission has established the
  European Cloud Computing Strategy (ECCS) to
  promote the adoption of cloud computing services.
  The strategys objective is to create 3.8 million
  new jobs and help the GDP increase to 957 billion
  euros by 2020. In September 2017, the European
  cloud infrastructure providers have also accepted
  the proposed regulation on the Free Flow of Data
  in the EU. The proposed regulation is a major
  step for Europes cloud industry to create an
  integrated Digital Single Market.
• Europe Cloud Computing Market is driven by the
  increasing number of data center clusters in the
  regions, particularly in France, Germany, and the
  UK. For instance, in January 2018, Microsoft
  opened four new data centers in France to meet
  the increased business needs of cloud computing.
  Similarly, in November 2016, IBM launched four
  new cloud data centers in the UK, helping
  businesses to innovate and respond to market
  demands more quickly and efficiently. Huge
  presence of data centers has increased the demand
  for infrastructure management platforms and
  tools. This also generates the need to use cloud
  computing to manage and consolidate such
  infrastructures.

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• Organizations deploy these platforms to consume a
  compute resource, such as Virtual Machine (VM),
  application, or storage rather than building
  computing infrastructures in-house. Additional
  benefits that have fueled the adoption of cloud
  platforms include the elimination of massive
  investments in local infrastructure, self-service
  provisioning, workload resilience, and enables
  the easy migration of certain workloads to or
  from the cloud.
• Another factor accelerating the growth of the
  cloud computing market in Europe is the
  increasing trend of outsourcing cloud computing
  services. Companies are outsourcing cloud
  services to reduce the dependency on local
  servers and minimize the costs associated with
  handling and management of the infrastructure.
  However, data security has is one of the biggest
  concerns for the enterprises. As data is being
  collected and used on a massive scale, cloud
  platforms offer challenges in terms of protecting
  the personal data. As a result, in May 2018, the
  General Data Protection Regulation (GDPR) came
  into effect and focused on the standardization of
  data protection laws in all EU countries. The
  regulation also provided strict guidelines for
  the companies that process and manage the data.

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• As per the deployment model, organizations are
  readily adopting hybrid cloud models to run their
  mission-critical applications and workloads on
  the private cloud and make use of public cloud
  services to handle complex tasks in demand. The
  increased interest in hybrid cloud is dictated by
  the desire to enhance business agility and
  improve the speed of deployment of applications.
• The BFSI vertical has witnessed the heavy
  adoption of cloud technologies. In December 2017,
  the European Banking Federation launched
  the EBF Cloud Banking Forum to support the
  deployment of cloud solutions in the banking
  sector. The Forum also supported an informed
  dialogue between banks and cloud service
  providers to deliver recommendations for
  supervisors regarding access rights and audits,
  pooled audits, life-cycle management, and
  reporting of outsourced activities.

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• Some of the leading European players operating in
  the cloud computing market are Amazon Web
  Services, CenturyLink, DigitalOcean, Dimension
  Data, Google Compute Engine, IBM SoftLayer,
  Microsoft Azure, OVH, Rackspace, 11, and
  CloudSigma. The cloud computing market players
  are laying more focus on strategic acquisitions
  to enhance their existing cloud capabilities. For
  instance, in July 2018, Orange acquired Basefarm
  Holding, a player in cloud infrastructure and
  critical application services in Europe. The
  acquisition reinforced the companys position in
  the cloud computing services for the enterprise
  sector. Similarly, in September 2017, Rackspace
  acquired Datapipe to widen its geographic
  coverage in the Asia Pacific region and Europe,
  particularly in the UK. It also enabled the
  company to sell its migration and other services
  to large companies.

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Methodology

• Market
  research reports Key analytical components

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