Hybrid Model is Expected to Dominate the Global Infrastructure as a Service (IaaS) Market
Increasing cloud computing service
adoption & distributed cloud
computing and cost optimization will drive cloud adoption and bolster market growth
.
According to TechSci Research report, “Global
Infrastructure as a Service (IaaS) Market - Industry Size, Share, Trends,
Competition Forecast & Opportunities, 2028”. The Global Infrastructure as a Service (IaaS) Market is
anticipated to project robust growth in the forecast period with a CAGR of 21.07%
through 2028. Infrastructure as a service (IaaS) is a cloud computing service
in which businesses rent servers in the cloud for compute and storage. These
web services provide high-level APIs that may be used to dereference various
low-level features of network infrastructure, such as physical computer
resources, data partitioning, scaling, location, security, backup, and so on.
IaaS allows users to run any operating system or application on leased servers
without having to pay for the operation and upkeep of servers.
Growth in demand for low-cost IT
infrastructure and faster data accessibility propels growth of the global
infrastructure as a service market. In addition, increase in cloud adoption
across several industry verticals is also positively impacting growth of the
IaaS market. However, security concerns over private cloud deployment hampers
the market growth. On the contrary, growth in cloud adoption among SMEs is
expected to offer remunerative opportunities for expansion of the IaaS market
during the forecast period.
The global infrastructure as a service
market is segmented on the basis of component type, deployment mode, enterprise
size, industry vertical, and region. By component, it is divided into storage,
network, compute, and others. By deployment model, it is divided into private,
public, and hybrid models. According to enterprise size, it is categorized into
small & medium enterprises (SMEs) and large enterprises. As per industry
vertical, it is divided into banking, financial services and insurance (BFSI),
government & education, healthcare, telecommunication & IT, retail,
manufacturing, media & entertainment, and others. Region wise, the market
is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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In terms of component type, the compute
segment holds the largest infrastructure as a service market share, owing to
surge in demand for consistent performance, on-demand Application Programming
Interface (API), and security for physically isolated networks. However, the
others segment is expected to grow at the highest rate during the forecast
period, owing to increase in need to manage data throughout the lifespan, from
conception and storage to archiving at the appropriate time, which stimulates
the need for managed IaaS services, and hence the infrastructure as a service
industry. Region wise, the infrastructure as a service market share was
dominated by North America in 2020, and is expected to retain its position
during the forecast period, owing to the fact that leading vendors are focused
on development of novel solutions, strategic alliances, and geographical
expansion to strengthen their market presence globally. However, Asia-Pacific
is expected to witness significant growth during the forecast period, owing to
increase in adoption of fast internet connectivity including 4G connections,
large population base, rise in competition among telecom & IT service
providers, and increase in GDP.
North America is dominating the market
with the largest market share. The Asia Pacific region has the highest adoption
of faster internet connections, including 4G connections, a large population
base, increased competition between telecommunications and IT service
providers, and an increase in GDP. In addition, India and China are witnessing
a growing trend toward digitization, increasing internet adoption, rising
adoption of smart devices, and small and medium enterprises seeking enterprise-level
computing power at low cost. IaaS adoption is also on the rise in the
region.Europe is expected to showcase a steady growth rate. The model's
cost-effectiveness, simplicity, and innovation are the main factors
contributing to its acceleration. Furthermore, increased enterprise migration
from on premise IT services to hosted cloud services is expected to contribute
to double-digit growth rates for the European market.The market for cloud and
colocation services in South America is rapidly expanding. The increasing
popularity of service-oriented architecture will likely boost global market
share in the region.Similarly, rising government initiatives and investments
toward digital transformations are driving the market in the Middle East &
Africa.
Key market players in the Global Infrastructure
as a Service (IaaS) Market include:
- International business machines
corporation
- Dell EMC
- Rackspace hosting,Inc.
- Google
- Microsoft corporation
- Alibaba group holding limited
- Oracle corporation
- Hewlett Packard Enterprise Development
LP
- Redcentric PLC
- Amazon web services, Inc.
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“Among regions, North America is
projected to have the largest market share and is expected to dominate the
infrastructure as a service market from 2022-2028. This is backed by the
existence of major IaaS vendors in the regions of North America. APAC is expected
to showcase the highest growth potential and is projected to grow at a CAGR of
30% in IaaS market simultaneously. Increasing digitalization trends, adoption
of internet, increasing adoption of smart devices and increasing number of SMBs
demanding enterprise level computing capabilities at low cost, are increasing
in countries India, China, Brazil, UK, Australia, and others thereby giving
rise to the adoption of IaaS in the region. ” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based global management consulting
firm.
Infrastructure
as a Service (IaaS) Market – Global Industry Size, Share, Trends, Opportunity,
and Forecast Segmented By Component Type (Storage, Network, Compute, Others),
By Deployment Model (Private, Public, Hybrid), By Enterprise Size (Large
Enterprises, SMEs), By Industry Vertical (BFSI, Government and Education,
Healthcare, Telecom and IT, Retail, Manufacturing, Media and Entertainment,
Others), By Region, By Competition 2018-2028. has evaluated the future growth
potential of Global Infrastructure as a Service (IaaS) Market and provides
statistics and information on market structure, size, share, and future growth.
The report is intended to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities present in the Global Infrastructure as a Service
(IaaS) Market.
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