Cloud Service Assurance Industry Overview (2023 to 2033)
The cloud service assurance market is projected to grow at a CAGR of 13% during the forecast period ranging from 2023 to 2033. As of 2023, the valuation of the cloud service assurance market is expected to total US$ 2.75 billion.
The market value of cloud service assurance is anticipated to reach US$ 9.4 Billion by the year 2032. A historical CAGR of 10% has been recorded for cloud service assurance by Future Market Insights.
Data Points
Key Statistics
Estimated Base Year Value (2022)
US$ 2.5 billion
Expected Market Value (2023)
US$ 2.75 billion
Anticipated Forecast Value (2033)
US$ 9.4 billion
Projected Growth Rate (2023 to 2033)
13% CAGR
With software and automation, cloud service assurance has transformed into a competitive digital service provider, increasing customer satisfaction and streamlining operations. For businesses in the cloud and 5G era to succeed, they are continuing to evolve their operations and assurance in order to differentiate their service quality. Businesses are relying on business service operations to identify, understand, troubleshoot, and resolve any issues before they impact their customers.
Big data technologies and analytics are becoming increasingly important in cloud computing services, which will create ample opportunities for the market for cloud assurance during the forecast period. Assuring cloud services is about ensuring their reliability, accessibility, scalability, and security.
As 5G technology becomes more ubiquitous, a rapid shift towards a digital era will further fuel market growth. Monitoring and validation of service availability and performance, qualification of security configurations, and assessment of regulatory compliance are all part of the process. In addition, guidance is provided on how to improve service quality. Aside from assisting organizations in planning for and responding to cloud outages, service assurance can also provide visibility into cloud utilization and help manage cloud-related risks.
Among the factors supporting the market are:
A self-learning operations model.
Enhances the quality of service.
Providing seamless capacity upgrades.
A greater degree of agility and flexibility.
Improved problem isolation.
Enhanced operational efficiency through better management of resources.
Efforts to reduce operating costs are achieved.
A complete end-to-end solution.
Multi-cloud and hybrid cloud adoptions are on the rise.
Services offered by cloud providers will be enhanced by artificial intelligence.
Cloud desktop virtualization will be in high demand.
Tools for collaboration and productivity will be widely adopted.
Cloud migration to continue in healthcare.
Serverless computing sees continued growth.
The popularity of cloud-based gaming will rise.
Businesses are offering a tried-and-true approach to automate the end-to-end service assurance process. Through cloud-native networks of 5G and beyond, operators can reduce operating costs while preparing for future challenges through future-proof solutions for mobile, fixed, and cloud networks.
The 2017 RightScale State of the Cloud Survey and the report found that 85% of corporations have a multi-cloud strategy and 95% use infrastructure-as-a-service applications. As businesses and customers look for more agility, the retirement of legacy systems, and capital cost savings, enterprises are expected to migrate to cloud-based services.
The cloud services industry is expected to continue to grow exponentially over the next few years. With organizations looking for flexible and scalable solutions for data storage and processing, the use of cloud computing may become the norm. Moreover, they intend to develop a platform that will make it possible for the employees to handle critical applications and data efficiently.
Various organizations in North America and Asia Pacific are increasingly turning to cloud-based security applications due to the growing popularity of cloud-based security applications in recent years. An increasing number of cloud service providers in regions such as the United States, Canada, China, India, and others is increasing the market for cloud service assurances. There has been a steady rise in the number of data breaches, cyber-attacks, and the demand for high-speed internet and the use of smartphones to propel the growth in the cloud service assurance market for the past couple of years.
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Cloud Service Assurance Market Overview
Companies are offering contextual, autonomous cloud solutions that enhance enterprise IT service outputs via performance management and end-to-end configuration capabilities. Self-learning operational models improve service quality by predicting storage, processing, and usage requirements, and facilitating cloud-to-cloud capacity upgrades.
Such companies are offering cloud computing portfolios with cloud service assurance solutions for native and hybrid cloud infrastructures. Cloud service assurance solutions identify the root causes of performance issues and offer actionable insights to resolve the issues.
Cloud orchestration, cloud governance, and advanced algorithms for cloud service assurance ease configuration management for enterprises, while preventing application and service outages. Cloud service assurance solutions leverage software development and IT operations (DevOps) automation, along with usage analytics, to facilitate resources as per demand.
Automated monitoring and provisioning of the cloud enhances user experience and improves service management.
Cloud Service Assurance: Market Dynamics
Digital transformation is reforming enterprise operations that require monitoring, management of storage capacities, and data security. Reforms in such capabilities improve operational productivity for end-users. Strategy consultants, business operations analysts, and cloud computing solutions and service providers are focusing on every aspect of procurement direction end-users might choose while incorporating a cloud computing strategy.
Underlying cloud infrastructure and service have come to a point where uptime is the most expected feature. End-users are finding it difficult to choose cloud solutions and service providers based solely on claims of staffing support, available software packages, or data center space. Companies are now expected to include cloud service assurance techniques that the cloud solution and service providers adhere to.
End-users are focusing on integrating their infrastructure into the cloud in order to enhance archival capabilities and ensure quick data access. End-users move their critical data to cloud-based storage to facilitate quick archival and retrieval of data.
However, such end-users are facing data security concerns while migrating their critical data to cloud infrastructure. Such challenges have an adverse impact on the attractiveness of cloud computing solutions and services, thus restricting the growth of the cloud service assurance market during the forecast period.
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Impact of Ongoing COVID-19 Pandemic on Cloud Service Assurance Market
Well-established large enterprises are estimated to continue adopting cloud service assurance among cloud computing services to enhance operations monitoring and performance-related issue resolution. This procurement may be owed to nationwide lockdowns implemented by national governments across the world.
Small and mid-sized enterprises with low IT budgets are expected to accelerate investments in standalone cloud computing features and tools in order to deal with infrastructural issues arising due to operations being off-site. Enterprise software spending is likely to increase as demand for trending as well as upcoming technologies is estimated to increase at an approximate rate of 15%, over the forecast period.
Cloud Service Assurance Market: Regional overview
The cloud service assurance market in North America was the dominant market in 2019 in terms of market value. Over the forecast period, the cloud service assurance market in the USA is likely to be the most attractive market in terms of sustainable revenue generation.
The accelerated adoption of cloud computing tools and services will enable the Southeast Asia Pacific regional market to register the fastest growth rate during the forecast period. The cloud service assurance market in Europe is expected to offer the highest absolute opportunity by the end of the forecast period.
The strong growth rates in Europe and the Southeast Asia Pacific region may be owed to the booming telecommunication and IT industry in economies like Spain, France, India, and ASEAN countries.
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Cloud Service Assurance Market: Competition Landscape
Some of the key competitors in the global cloud service assurance market are Infosys Limited; Broadcom; Telefonaktiebolaget LM Ericsson; Hewlett Packard Enterprise Development LP; NEC Corporation; AMDOCS; Accenture; Comarch SA; Huawei Services (Hong Kong) Co., Limited; Nokia; and IBM, among others.
Following are some key tactics incorporated by the key players competing in the global cloud service assurance market:
Vendors are focused on expanding their intellectual property and product offerings by acquiring innovative technologies from businesses. Internal research and development professionals are granted technical control over product design and development.
Market players are focusing on the development of data archival and related security solutions. Constant expansion of data archival and related security offerings enables these companies to efficiently cater to their clientele.
The cloud service assurance market report is a compilation of first-hand information, qualitative and quantitative assessments by industry analysts, and inputs from industry experts and industry participants across the value chain.
The report provides an in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness as per segment. The market report also maps the qualitative impact of various market factors on market segments and geographies.
The report covers exhaustive analysis on
Cloud Service Assurance Market Segments
Cloud Service Assurance Market Dynamics
Cloud Service Assurance Market Size
Supply and Demand
Current Trends/Issues/Challenges
Competition and Companies Involved in the Market
Technology Landscape
Value Chain of the Market
Market Drivers and Restraints
Regional analysis includes
North America (The USA, Canada)
Latin America (Mexico, Brazil, Rest of Latin America)
Europe (Germany, Italy, The United Kingdom Spain, France, Nordic countries, BENELUX, Russia, Rest of Europe)
East Asia (China, South Korea, Japan)
South Asia & Pacific (India, ASEAN, Australia & New Zealand, Rest of South Asia & Pacific)
Middle East and Africa (GCC Countries, Turkey, South Africa, Res of MEA)
