P&S Market Research: North America’s Government Cloud Revenue to Hit $15B by 2023

A new report by P&S Market Research says the government cloud market in North America is estimated to generate more than $15 billion in revenue by 2023.

Increased demand and investments in cloud-based systems from government agencies will drive the projected revenue growth in the region, P&S Market Research said Monday.

Key players in the government cloud market include Cisco Systems, Google, Hewlett Packard Enterprise, IBM, Intel, Microsoft, Oracle, Salesforce and VMware.

North America accounted for nearly 34 percent of the global government cloud market revenue during 2017, according to the report.

The global government cloud market is projected to reach $49.2 billion by 2023, driven by increased cuts in total costs of ownership and higher government interest in digital transformation initiatives.

Disaster recovery offerings are slated to see the highest growth in the global government cloud market at a compound annual growth rate of 15.7 percent.

Government demand for identity access management platforms is also expected to rise due to the need for cloud-based authentication measures.

The report cited North America as the largest market for eDiscovery — the collection of electronically-stored information for legal proceedings.

Asia Pacific is projected to experience the highest growth in the adoption of cloud-based supply chain management tools.

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