Cloud Computing Market to Hit $2.3 Trillion by 2030

The global cloud computing market is poised for explosive growth over the next five years, with its total value expected to surge from USD 1,294.9 billion in 2025 to USD 2,281.1 billion by 2030. This represents a robust compound annual growth rate (CAGR) of 12.0%, according to a fresh report released by MarketsandMarkets. As businesses worldwide lean deeper into remote operations, AI-driven services, and digital transformation, cloud computing continues to cement its status as the backbone of modern enterprise IT.

The Compute Race Is Heating Up

Among the various cloud service segments, Infrastructure as a Service (IaaS) compute is forecasted to dominate market share through the forecast period. This surge is being fueled by skyrocketing demand for high-performance computing environments tailored for AI workloads and data-intensive applications.

Major cloud providers like AWS, Microsoft Azure, and Google Cloud are racing to develop AI-optimized processors such as AWS Trainium and Google TPU v5p, as well as enhance their high-speed networking infrastructure. These technologies enable enterprises to process enormous datasets, accelerate AI model training, and deliver real-time services with unprecedented efficiency.

A striking example of this trend is Google Cloud’s collaboration with CoreWeave, supplying high-performance GPU infrastructure to power OpenAI’s AI models, including ChatGPT. This partnership underscores the growing strategic importance of compute-focused IaaS services, especially as generative AI tools and real-time digital services gain widespread adoption across industries.

Supply Chains Go Cloud-Native

Interestingly, Supply Chain Management (SCM) within Software as a Service (SaaS) is predicted to register the highest growth rate during this period. As global supply chains grapple with complexity, cloud-based platforms are integrating a new wave of technologies including AI-powered demand forecasting, IoT tracking sensors, and blockchain-backed transaction ledgers.

These innovations bring unprecedented transparency and efficiency to supply chain operations. AI models now anticipate demand shifts and fine-tune inventory levels in real time, while IoT devices offer granular visibility into shipments, helping prevent spoilage and delivery delays. Additionally, blockchain ensures secure, tamper-resistant logs and enables automated smart contracts for smoother supplier coordination.

A prime case study is Trimble’s Supplier Xchange platform, connecting over 10,000 digital partners and handling around 130,000 monthly quote requests worth USD 18 billion. This cloud-native platform streamlines pricing, order workflows, and procurement processes, dramatically enhancing operational agility and reducing costly errors in inventory management.

The US Leads the Global Cloud Race

When it comes to regional dominance, the United States is set to maintain its position as the largest cloud computing market throughout the forecast period. This leadership is rooted in the country’s advanced digital infrastructure, high early-adoption rates of emerging technologies, and the presence of global cloud titans such as AWS, Microsoft Azure, Google Cloud, and Oracle.

US enterprises across diverse sectors — including finance, healthcare, retail, and manufacturing — are ramping up investments in cloud infrastructure to gain agility, cut operational costs, and fast-track innovation. The widespread integration of AI, big data analytics, and hybrid cloud models is further driving market momentum.

Additionally, the US benefits from a supportive regulatory environment and high cloud readiness levels, ensuring it remains a pivotal force in shaping the global cloud computing narrative over the next decade.

Key Industry Players Shaping the Future

The competitive cloud market landscape continues to consolidate around a mix of US, Asian, and European heavyweights. Notable players include Microsoft, Google, IBM, AWS, Oracle, Salesforce, Tencent Cloud, SAP, Alibaba Cloud, Adobe, Workday, Fujitsu, Broadcom, Rackspace Technology, DXC Technology, NEC Corporation, Joyent, and Digital Ocean.

Each of these companies is investing aggressively in AI capabilities, high-speed networking, and regional data centers to support localized compliance and low-latency services — critical factors in a globally interconnected digital economy. As AI continues to redefine digital business models, the cloud’s role as both the enabler and innovation hub will only deepen — making this USD 2.3 trillion projection not just plausible, but likely conservative.