Cloud computing can be categorized under three different types i.e. public clouds, hybrid clouds, and private clouds. Below are the key features of each model.

Public cloud
This is the traditional model of cloud computing which is widely assumed as cloud computing platform. Under this model, the resources are allocated as per the requirements of the customer and accordingly they are charged by the service provider. This model is publicly available to all the types of customers. Service providers such as salesforce.com and ADP provide such type of services.
Public cloud is accessible from every corner of the world, only computing device and an internet connection is required. The storage capacity is also unlimited which grows and reduces as per the requirements and accordingly charged.

Private cloud
Also referred as "internal cloud computing". Private cloud is infrastructure operated solely for a single organization, whether managed internally or by a third-party and hosted internally or externally.
Private cloud is still under the criticism, as the organization still has to manage the resources, add and upgrade whenever required. Hence it does not justifies the definition of cloud computing. However, it does offer some benefits over other type of clouds:
  • Enhanced data security since the same is not accessible to outside world
  • The network structure can be customized as per the requirements of the organization.

Hybrid cloud
Hybrid cloud is a composition of two or more clouds (private, community, or public) that remain unique entities but are bound together, offering the benefits of multiple deployment models. It can also be defined as multiple cloud systems that are connected in a way that allows programs and data to be moved easily from one deployment system to another. Hybrid cloud is a composition of two or more clouds (private, community, or public) that remain unique entities but are bound together, offering the benefits of multiple deployment models. This way, the hybrid system offers both the benefits offered by public and private clouds.

Resources:
Wikipedia

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