Cloud On-Ramp Services Market: Introduction
Cloud on-ramp is a connection service inside a data center that offers direct connectivity to a cloud provider. Cloud connectivity is a significant factor while choosing a data center vendor, and cloud on-ramp services help to overcome critical connectivity issues. The adoption of cloud on-ramp services by cloud services vendors helps to enhance performance of cloudbased applications, creates security infrastructure for users, and reduce latency.
The COVID-19 pandemic has positively impacted the cloud on-ramp services market. Increasing cases of COVID-19 across the globe is resulting in millions of employees working from home and organizations have raised their investment to develop strong IT infrastructure i.e. networking and storage and computing, to support their remote workforce. Similarly, small and medium enterprises have enhanced their digital transformation due to lockdowns. Thus, demand for cloud on-ramp services is growing in every sector. This, in turn, is anticipated to create significant opportunities for the cloud onramp services market during the forecast period.
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At present, enterprises using cloud services are planning to upsurge their investment in cloud services, which is projected to fuel the cloud on-ramp services market during the forecast period.
Rapid digital transformation across the globe means more dependency on the internet, which again is anticipated to drive the growth of the cloud on-ramp services market.
Small and medium enterprises and large enterprises are promptly embracing cloud infrastructure because of cloud benefits such as lower capital spending, flexible deployment options, scalable, lower cost, and access to innovative applications. This is a major factor likely to fuel the growth of the cloud on-ramp services market.
Furthermore, increasing adoption of cloud services in numerous sectors such as BFSI, manufacturing, e-commerce, healthcare, hospitality, and IT is also expected to fuel the demand for cloud on-ramp services.
North America to Account for Major Share of the Global Cloud On-Ramp Services Market
In terms of region, the global cloud on-ramp services market is divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
North America dominated the global cloud on-ramp services market owing to developed economies such as the U.S. and Canada. The U.S. market is estimated to expand in the region because of the presence of leading cloud service providers such as IBM Corporation, Google, Inc., Amazon.com, Inc., Oracle Corporation, and Microsoft Corporation. A large number of enterprises are using cloud-based services in the region.
The cloud on-ramp services market in Asia Pacific is anticipated to expand at a rapid pace, as compared to other regions, due to the presence of growing economies (China and India) and the digital revolution in the region which has disrupted the business environment, leading to