The private cloud, also known as the internal or corporate cloud is a type of cloud computing wherein the cloud infrastructure is dedicated to a single customer. 

Private Clouds are owned, operated, and maintained by individual businesses. Traditionally, they have been physically located at a business's own data centre using its own hardware. However, it is possible for a business to employ a third-party provider that will host the private cloud on its infrastructure. In this way, it is similar to the public cloud because the resources are in a remotely managed data centre but the third party will only be able to provide a small percentage of services that a public cloud vendor can offer. 

Companies that use the private cloud often have highly variable network needs in order to ensure they have full control over the cloud environment and get access to it at all times. 

The private cloud market 

This market had an estimated value of $60.3 billion in 2020 and is expected to maintain a compound annual growth rate (CAGR) of 29.6% from 2019 to 2025 and is estimated to reach a value of $205.4 billion in 2025. 

Several sectors are leading the growth in demand for private cloud - education, government, healthcare, manufacturing, retail and banking, financial services, and insurance (BFSI).

By region, 

• In Europe, Germany has seen the highest CAGR rates at 13.9%
• Japan and Canada's cloud markets are expected to grow at 17.3% and 16.9% from 2020 to 2027. 
• The Chinese market is the second largest in terms of growth at 17.3% and 16.9% from 2020 to 2027. 
• The US market on the other hand was the largest market with an estimated value of $10.6 billion in 2020. 
• However, the Asia-pacific region led by Australia, South Korea, and India has the highest growth rate with CAGR of 27% from 2020 to 2027. 

A private cloud contains several key features- 

1. Virtualisation - It combines physical features such as storage, computing power, and memory into one cloud environment.
2. Service Catalog - This allows cloud users to choose from different applications and services. 
3. Task Automation - This covers integrations and server provisioning, thereby reducing the pressure on the IT team. 
4. Management Software - It is the brain of the cloud environment and the centralised control allows the admin to optimise availability, security, and other computing resources. 
5. User Portal - This is how end-users interact with the private cloud, it allows the end-users to access the offered resources and are able to configure and manage the cloud. 

Some of the leading vendors that provide private cloud services in the market are - Oracle, Citrix, Red Hat, IBM, Dell Technologies, Microsoft, SAP, AWS, HPE (Hewlett Packard Enterprise and Cisco.

Knowing about the different types of cloud computing solutions, their respective elements, and how their markets operate and evolve over time is going to help businesses choose the right model that suits their requirements. In order to migrate to the cloud and progress towards digital transformation, great cloud talent is vital. Savant is informed by robust market research and anticipates the growth in the cloud technology sector; we are prepared to meet our client’s potential talent needs in their transformation journeys through our extensive network of cloud professionals. To know more about how we can support you, reach out to us at - technology@savantrecruitment.com for a free consultation!