Burlingame, July 18, 2023 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, global Infrastructure As A Service market is estimated to be valued at US$ 52.5 billion in 2022 and is expected to exhibit a CAGR of 22.7% during the forecast period (2023-2030).
Analysts’ Views on Global Infrastructure As A Service Market
The infrastructure as a service market is primarily growing on the account of rising demand for low-cost IT infrastructure and growing adoption of cloud adoption across various industry verticals. Moreover, the demand for high-speed interaction between networks is also driving the market growth. Furthermore, rise in the deployment of IaaS among SMEs, which necessitate high-speed internet connectivity and high-performance infrastructures to process, store, and analyze large volumes of data is further projected to propel market growth.
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Key Trends and Analysis of the Global Infrastructure As A Service Market:
Increasing trend of digitalization and growing adoption of cloud-based services are expected to positively shape the market growth. Additionally, the increasing adoption of IaaS in different application sectors such as banking, retail & e-commerce, telecommunication and IT, financial services, insurance (BFSI), manufacturing, and media & entertainment has also augmented the infrastructure as a service market growth.
Global Infrastructure As A Service Market - Drivers
Growing adoption of cloud solution across various industries
There is a rise in adoption of cloud solution across various industries such as manufacturing, healthcare, telecom & IT, retail, BFSI, media & entertainment, and several others. Banking sector is witnessing high demand for cloud services due to growing need for data protection and disaster services recovery. In February 2023 ,Oracle has launched Oracle Banking Cloud Services, a new suite of componentised, composable cloud native services. It gives ability to process scalable corporate demand deposit accounts, manage enterprise-wide limits and collateral, process real-time ISO20022 worldwide payments, manage APIs, enroll and originate retail customers, and create new self-service digital experiences.
Increasing launch of new product is expected to drive market growth
Key players are introducing new product with updated features in the market. For intsnace, in May 2022, Akamai has announced a series of new products and updates to existing products across its security and compute product lines, including its entry into the infrastructure as a service (IaaS) market. Linode managed database is Akamai's first IaaS product, and this will make database deployment more straightforward, assisting developers in reducing risk, increasing efficiency, and minimising the complexity associated with manual management of production database clusters.
Infrastructure-As-A-Service Market Report Coverage
| Report Coverage | Details | |||
| Base Year: | 2022 | Market Size in 2022: | US$ 52.5 Bn | |
| Historical Data for: | 2017 to 2021 | Forecast Period: | 2023 to 2030 | |
| Forecast Period 2023 to 2030 CAGR: | 22.7% | 2030 Value Projection: | US$ 272.51 Bn | |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: | Alibaba Group Holding Limited, Redcentric Plc., Amazon Web Services, Inc., Rackspace Hosting, Inc., Dell EMC, Oracle Corporation, Google LLC, Microsoft Corporation, Hewlett Packard Enterprise Development LP, and International Business Machines Corporation | |||
| Growth Drivers: |
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| Restraints & Challenges: |
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Global Infrastructure As A Service Market – Restrain
Concerns regarding security over deployment of private cloud and Lack of IT infrastructure are expected to hinder market growth
Privacy concerns associated with the deployment of private cloud is a key factor expected to limit its adoption across various sector, thus, hampering market growth. Moreover, lack of IT infrastructure is another key factor expected to hinder the infrastructure as a service market growth.
Global Infrastructure As A Service Market – Opportunities
Growing number of partnership between key players to bring lucrative market growth opportunities
Key players in the global infrastructure as a service market are focusing on strategic alliances to expand their presence worldwide. For instance, in July 2022, UbiStor, a globally-recognized Chicagoland-based Managed Services Provider, has announced its infrastructure partnership with Scale Computing. Scale Computing would be the newest provider to join UbiStor’s arsenal of managed backup and disaster recovery solutions.
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Global Infrastructure As A Service Market - Key Developments
In March 2022, Oracle Cloud Infrastructure (OCI) has expanded with 11 new compute, networking, and storage services and capabilities that enable customers to run their workloads faster and more securely at lower costs.
In March 2023, GTC—NVIDIA announced NVIDIA DGX™ Cloud, an AI supercomputing service that offer enterprises immediate access to the infrastructure and software needed to train advanced models for generative AI and other groundbreaking applications.
In May 2023, Cloudflare, Inc. announced its partnership with Kyndryl Holdings, Inc., to help enterprises modernize and scale their corporate networks with managed WAN-as-a-Service and Cloudflare Zero Trust.
Key Market Takeaways:
Global infrastructure as a service market is expected to exhibit a CAGR of 22.7% during the forecast period, owing to the growing use of cloud-based services and rapid digitalization across developing economies.
On the basis of Component, strorage segment is expected to hold a dominant position, owing to the high demand for protection and data back up across SMEs and large enterprises. The segment is also gaining growth on the account of high level of cost-savings on overall ownership.
On the basis of Deployment Type, private segment is expected to hold a dominant position, owing to the increasing adoption of private cloud solution as it offer extra customization, procurement, and security features.
On the basis of User Type, SMEs segment is expected to hold a dominant position, owing to the growing demand for protected network, security, unlimited storage, and low-cost IT expenditure among SMEs.
On the basis of Industry Vertical, Healthcare segment is expected to hold a dominant position, owing to the high adoption of cloud solution across healthcare sector.
On the basis of Region, North America is expected to hold a dominant position over the forecast period, due to the strong presence of IT industry in the region. Also, early adoption of such advanced solution in region is again expected to fuel regional market growth.
Competitive Landscape:
Key players operating in the global infrastructure as a service market include Alibaba Group Holding Limited, Redcentric Plc., Amazon Web Services, Inc., Rackspace Hosting, Inc., Dell EMC, Oracle Corporation, Google LLC, Microsoft Corporation, Hewlett Packard Enterprise Development LP, and International Business Machines Corporation
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Detailed Segmentation:
Global Infrastructure-As-A-Service Market, By Component
- Storage
- Network
- Compute
- Others
Global Infrastructure-As-A-Service Market, By Deployment Type
- Private
- Public
- Hybrid
Global Infrastructure-As-A-Service Market, By User Type
- Large Enterprises
- Small and Medium Enterprises
Global Infrastructure-As-A-Service Market, By Industry Vertical
- BFSI
- Government & Education
- Healthcare
- Telecom & IT
- Retail
- Manufacturing
- Media & Entertainment
- Others
Global Infrastructure-As-A-Service Market, By Region
- North America
- By Country:
- U.S.
- Canada
- By Country:
- Latin America
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country:
- Europe
- By Country:
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country:
- Asia Pacific
- By Country
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country
- Middle East
- By Country:
- GCC
- Israel
- Rest of Middle East
- By Country:
- Africa
- By Country/Region:
- South Africa
- Central Africa
- North Africa
- By Country/Region:
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