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Crowd-sourced Cloud Computing Market: Introduction

  • Crowd-sourced cloud computing is a form of distributed work where tasks that are hard for computers to carry out are been handled by large numbers of humans distributed across the internet
  • In crowd-sourced, cloud computing is been utilized in various domains such as computer science, business, and medicines. This technology is applied in various commercial and non-commercial platforms, such as Thread less and Amazon Mechanical Turk, and is structured in various forms, such as crowd funding and micro tasking.
  • Crowd-sourced cloud computing is a process of providing computing resource as a services rather than a product. Crowd-sourced cloud computing delivers service in three different ways: Platform as a service (PaaS), Infrastructure as a service (IaaS), and Software as a Service (SaaS).
  • Crowd-sourced cloud computing has been witnessing significant development for the last few years owing to a rise in adoption of multi-cloud environments among enterprises and implementation of centralized laws. This, in turn, is expected to fuel the market in the next few years.
crowd sourced cloud computing market size and forecast

Crowd-sourced Cloud Computing Market: Dynamics

Crowd-sourced Cloud Computing Market: Key Drivers

  • Crowd-sourced cloud computing is a process of outsourcing tasks to a large, undefined group of people via an open call. It offers an opportunity for crowd sources to increase the productivity of implementing the collection of opinion, information tasks both in term of time required and incurred costs.
  • Crowd-sourced cloud computing solutions support key attack surfaces, on all key platforms, as well as the unknown. Companies are adopting cloud architecture and applications; the biggest concern being APIs and web application front ends that can be used on mobile apps, IoT devices, or cloud.
  • Crowd-sourced cloud computing helps lower operational overheads and security costs. Cloud computing is a high productivity business platform, capable of managing complex sets of operations performed over different platforms and various connected devices. Moreover, it also takes care of requirements of service providers, system integrators, and end-users.

High initial investment and lack of awareness to hinder market

  • Small & medium-sized enterprises are budget constrained and cannot afford high initial investments to adopt crowd sourced cloud computing, which restrains the market
  • Lack of awareness about the benefits of crowd-sourced cloud computing tools among small & medium enterprises is also expected to hamper the market
crowd sourced cloud computing market growth trend

Impact of COVID-19 on Crowd-sourced Cloud Computing Market

  • Most companies are adopting the work-from-home module during the pandemic period. Companies are decreasing their investment in new technologies and services to manage their profitability. Most small businesses closed their business process due to lack of funds to sustain in the market. Demand for crowd-sourced cloud computing is decreasing during the COVID-19 lockdown situation; however, the demand is expected to rise after the pandemic situation owing to an increase in need to manage rising network attacks and network traffic.

North America to Hold Major Share of Crowd-sourced Cloud Computing Market

  • In terms of region, the global network probe market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
  • North America dominated the global network probe market in 2020. The U.S. is a key market in the adoption of new technologies. Strong financial position enables the country to invest heavily in the adoption of leading tools and technologies to ensure smooth business operations.
crowd sourced cloud computing market size by competition landscape

Key Players Operating in Global Crowd-sourced Cloud Computing Market

  • HyTrust, Inc.

HyTrust, Inc. is known for developing and offering solutions for the IT industry. The company operates through two business segments: products and solutions. Under the solutions segment, it offers cloud security policy framework, compliance automation, and secure multi-tenant environment. The company’s products and solutions provide the highest level of visibility to software-defined companies and networking companies.

  • Check Point Software Technologies Ltd

Check Point Software Technologies Ltd specializes in the supply of hardware and software solutions to security companies, which includes mobile security, data security, endpoint security, cloud security, and security management. It operates through two business segments: products and solutions. The product segment comprises quantum, cloudguard, harmony, and infinity-vision. The solutions segment includes cloud security solutions, and enterprise security solutions. The company delivers its solutions to retail, government, healthcare, education, and industrial control systems

Other key players operating in the crowd-sourced cloud computing market include Applause App Quality, Inc., Bugcrowd, Inc., Cobalt Labs, Inc., Detectify AB, HackerOne, Passbrains AG, Planit, Rainforest, Synack.com, and Zerocopter B.V.

Crowd-sourced Cloud Computing Market: Research Scope

Crowd-sourced Cloud Computing Market, by Type

  • Web Application
  • Mobile Application
  • Others (IoT, Network and Wireless)

Crowd-sourced Cloud Computing Market, by Deployment Type

  • On-Premises
  • Cloud

Crowd-sourced Cloud Computing Market, by Enterprise Size

  • Large Enterprises
  • SMEs

Crowd-sourced Cloud Computing Market, by End-user

  • BFSI
  • Healthcare
  • IT & Telecom
  • Retail
  • Healthcare
  • Travel & Hospitality
  • Retail
  • Media & Entertainment
  • Others (Education and Education)

Crowd-sourced Cloud Computing Market, by Region

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia Pacific
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa
  • South America
    • Brazil
    • Rest of South America

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Crowd Sourced Cloud Computing Market