New York, US, Jan. 31, 2022 (GLOBE NEWSWIRE) -- Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Infrastructure as a Service Market information by Solution, by Deployment Type, by End User, by Verticals and Region – forecast to 2030” market size to reach USD 119 billion, growing at a compound annual growth rate of 24.1% by 2030.
Market Scope:
The infrastructure as a service (IaaS) market is expected to garner significant traction in the next few years. The continually growing demand for data governance, alongside the rising cases of IaaS misconfigurations and inadvertent sensitive data storage exposure that can cause significant data breaches, have created vast market opportunities over the past couple of years.
Dominant Key Players on Infrastructure as a Service Market Covered are:
- Google LLC (US)
- Microsoft Corporation (US)
- Amazon Web Services Inc. (US)
- Cisco Systems Inc (US)
- HCL Technologies Limited (India)
- International Business Machines Corporation (US)
- Computer Sciences Corporation (US)
- VMware Inc. (US)
- Accenture (Republic of Ireland)
- Oracle Corporation (US)
- Rackspace Inc. (US)
- Fujitsu Ltd (Japan)
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Market USP Exclusively Encompassed:
Market Drivers
Businesses are increasingly focusing on responding to rising cybersecurity threats by improving data governance to prevent data loss. Simultaneously, augmenting demand for hybrid computing, scalability, faster implementation, and accessibility of the IT system define the continually growing market landscape.
Moreover, the increasing adoption of IaaS, multi-cloud, and cloud-based IaaS platforms would escalate the market shares. Resultantly, the market is projected to witness significant growth in the years to come. Augmenting uptake of cloud computing in BFSI, IT & telecom, healthcare, and retail & e-commerce industries due to maximum uses of IT resources and cost-effective cloud computing services among organizations drive the market demand.
Conversely, the lack of technical expertise required to manage IT infrastructure and cloud data security is a major factor impeding market growth. However, the growing adoption of a cloud-based IaaS platform to enhance IT services and data accessibility would support the market growth through the review period. Also, vast implementations of infrastructure services in large enterprises would impact the growth of the IaaS market over the forecast period.
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Segmentation of Market Covered in the Research:
The market is segmented into solutions, deployment types, end-users, verticals, and regions. The solution segment is sub-segmented into managed hosting services, storage-as-a-service (network attached and storage area network-based storage), disaster recovery as a service, high-performance computing as a service, network management, and content delivery services.
The deployment type segment is sub-segmented into public, private, and hybrid clouds. The end-user segment is sub-segmented into SMEs and Large Enterprises. The vertical segment is sub-segmented into IT & telecom, BFSI, healthcare, retail & e-commerce, government, defense, and others. The region segment comprises the Asia Pacific, Americas, Europe, and rest-of-the-world.
Regional Analysis
North America dominates the global infrastructure as a service market. The largest market share attributes to the wide uptake of IaaS and technological upgrades. Besides, increasing investments in cloud-based solutions drive the IaaS market growth in the region. With the increasing penetration of hybrid cloud and advanced IT infrastructure, the region is projected to retain its dominance throughout the forecast period.
Europe stands second in the global infrastructure as a service market. The region, with its vast technology upgrades, offers lucrative opportunities. The market growth is driven by rapidly growing enterprises in the region and vast investments in risk disparity factors due to infrastructure service disruptions in extreme weather events. Moreover, the rising awareness of integrating social dimensions into the resilience planning of infrastructure systems substantiates the region's market size.
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The Asia Pacific region is also a promising market for infrastructure as a service globally, accounting for a sizable market share. Factors such as spurring industrialization and economic growth across the region are key driving forces for market growth. Countries like China, Japan, and India support the regional market's growth, heading with significant technological advances.
COVID-19 Impact on the Global Infrastructure as a Service Market
The onset of COVID 19 significantly impacted the infrastructure as a service market, halting infrastructure development and the global economy. On one side, where the pandemic created rapid disruptions in key infrastructure sectors and industries, on the other hand, it increased the value of digital connectivity, presenting it as the most cost-efficient and effective solution to respond to the global crisis.
The COVID–19 outbreak also had numerous contrasting effects on the digital infrastructure sector, such as increased demand for quality digital connectivity due to falling telecommunications prices in certain countries and increased network capacity in others. Emerging trends and their implications for policies and corporate, alongside investment strategies to support the development of the digital infrastructure sectors in emerging markets, would contribute to IaaS market revenues through the pandemic and beyond.
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Competitive Landscape
Highly competitive, the IaaS market appears fragmented due to several large and small players forming a competitive landscape. To gain a larger competitive edge, players incorporate strategies such as collaborations, mergers & acquisitions, product/ technology launches, and expansion.
For instance, on Jan. 20, 2022, 11:11 Systems, a leading provider of managed infrastructure solutions, announced the acquisition of iland, a leading global cloud service provider of secure and compliant hosting for IaaS DRaaS and BaaS. The company (11:11 Systems) has also recently acquired Green Cloud Defense, a channel-only, cloud IaaS provider.
The addition of iland's steady 25% YOY momentum would enable 11:11 Systems to expand its national network of MSPs, VARs and IT consultants, creating a hyper-growth pathway. Companies are increasingly struggling to manage their hybrid infrastructure effectively and are under pressure to focus scarce resources on other key priorities. 11:11 would be able to meet the growing market demand and help single, trusted vendors navigate security threats and reduce complexities in infrastructure management.
In another instance, on Jan. 18, 2022, Sunlight.io, a leading provider of the edge infrastructure, announced a partnership with Safozi, a leading IaaS provider in North Africa. Together with Sunlight.io, Safozi launched high-performance cloud services in Tunisia to bring high-performance and private cloud services with local support across North Africa. Safozi's affordable, high-performance cloud services would now be able to deliver a far higher level of responsiveness to their users striving for better customer satisfaction.
Related Reports:
Composable Infrastructure Market, By Cloud Type (Public, Private, Hybrid), By Type (Hardware, Software), By Organization Size (Large Enterprises, SMEs), By Vertical (IT and Telecommunication, BFSI, Government, Healthcare, Manufacturing and Others), By Region (North America, Europe, Asia-Pacific and the Rest of the world) - Industry Forecast till 2027
IT Infrastructure Services Market Research Report: By Type (Network Management Service, Enterprise System Management, IT Security Management, Virtualization Solutions, Data Center Consolidation Services and others), Service Type (Consulting, Planning Integration & Implementation, Maintenance and Managed), Organization Size (Small & Medium Enterprise, Large Enterprise), Vertical (Automotive, Chemicals, Retail & Consumer Goods, IT & Telecommunication, Healthcare, Government, BFSI, Manufacturing, and others) and Region (North America, Europe, Asia-Pacific, South America, Middle East & Africa) - Forecast till 2027
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