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The new name – Google Cloud – encompasses the search giant's portfolio of products, technologies and services in the cloud.
This includes cloud hosting facilities, data analytics tools and machine learning and artificial intelligence capabilities.
"Over the next five years, businesses of every kind will be transformed by smart data, analytics, machine learning and digital communications. What is going to differentiate business in the future is digital technology," Diane Greene, senior vice-president of Google Cloud, wrote in a blog post on Thursday.
Google also renamed Google Apps for Work to G Suite. This is the set of apps that include Gmail, Docs, Drive, Calendar and Hangouts among others.
The global public cloud services market is set to grow 16.5 percent to total $204 billion, according to Gartner, but is currently dominated by Amazon, IBM and Microsoft. Google is hoping to take a slice of the pie. While it doesn't break out cloud revenues, the "other revenues" section of its second quarter earnings – which includes cloud – grew 33 percent.
Analysts said Google's rebrand was key to putting cloud at the front and center of its offering to enterprises.
"Hanging off all their workplace and enterprise structure under Google Cloud is about saying look, this is our core, and more importantly, they feel this is the center of the universe going forward about how infrastructure gets provisioned in enterprises and how apps and devices access information. So there is as strategic importance of re-branding under that moniker," Nicholas McQuire, vice present of enterprise at CCS Insight, told CNBC by phone.