Pune, India, March 30, 2023 (GLOBE NEWSWIRE) -- The global infrastructure as a service market size was valued at USD 108.81 billion in 2022. The market is projected to grow from USD 130.8 billion in 2023 to USD 531.84 billion by 2030, exhibiting a CAGR of 22.3% during the forecast period. In the Infrastructure as a Service (IaaS) model, the cloud provider controls IT infrastructures such as servers, storage, and networking resources and makes them accessible to subscriber businesses through virtual machines that are accessible over the internet.
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Organizations gain from IaaS in a number of ways, including by improving workloads' speed, flexibility, and cost-effectiveness. With IaaS, users can utilize any operating system or application on a rented server without having to pay to run and maintain the server. The IaaS model is a great fit for rapidly expanding businesses that lack the funds to invest in hardware. IaaS is advantageous to businesses that need to offload part of the routine operations and maintenance related to managing infrastructure such as those with continuous application workloads. Fortune Business Insights presents this information in their report titled "Global Infrastructure as a Service Market Forecast, 2023–2030."
Key Industry Development:
December 2022 – Hewlett Packard Enterprise (HPE) announced new analytics, application, and developer services for HPE GreenLake. It is an edge-to-cloud platform that enables enterprises to pursue data-centric modernization strategies for production workloads in hybrid cloud environments.
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 22.3% |
| 2030 Value Projection | USD 531.84 Billion |
| Base Year | 2022 |
| Infrastructure as a Service Market Size in 2022 | USD 108.81 Billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 150 |
| Segments covered | Deployment, Service, Industry, and Geography |
| Infrastructure as a Service Market Growth Drivers | Rapid Data Access to Propel the Market Growth |
Key Takeaways
- Organizations around the world are focused on developing a mobile workforce that allows employees to access data remotely through internet services.
- By Deployment Analysis: Adoption of Hybrid Model is Likely to Fuel Market Growth
- The market is categorized into five key regions, North America, South America, Europe, the Middle East & Africa, and Asia Pacific.
- Distributed Cloud Computing and Cost Optimization Will Drive Cloud Adoption and Bolster Market Growth
- Infrastructure as a Service Market Size in North America was USD 48.80 Billion in 2022
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Drivers & Restraints:
Rapid Data Access to Propel the Market Growth
With the increased usage of Disaster Recovery as a Service (DRaaS) by enterprises to safeguard sensitive data and effectively recover in the case of a natural or man-made disaster, the market is expanding. Another aspect that stimulates growth is the growing deployment of hybrid clouds, which combines private and public clouds. This makes it possible for businesses to process data quickly, communicate enormous amounts of data via the cloud, and completely cut total operational costs. It is predicted that further factors, such as numerous technical advancements in the IT industry and significant research & development efforts in the area of wireless technology, will fuel the market even more.
On the contrary, the market's major problems are high prices of initial investment and difficulties in obtaining infrastructural services.
Segments:
Rising Demand for Hybrid Cloud Services to Drive Segment Growth
Due to the growing adoption of hybrid models, hybrid segment holds the largest market share, according to the report. It has been crucial in accelerating the uptake of solutions in the IaaS industry. By utilizing hybrid cloud services, various organizations are expected to avoid transferring all of their data to a single system in a single place. Organizations are more vulnerable to unanticipated mistakes or data theft when all their data is kept in one location. As a result, hybrid cloud architecture lowers the risks related to data loss or theft when compared to alternative methods. Additionally, a large growth rate in the public cloud is anticipated as a result of the rising demand for this service from startups and Small & Medium-sized Businesses (SMBs).
Cost Optimization and Cloud Adoption to Propel Market
According to our data, the infrastructure as a service market share belongs to the computing segment. Hardware as a Service (HaaS) and Infrastructure as a Service (IaaS) are similar terms. The cloud computing platform has a layer like this. In the IaaS model, the cloud provider hosts infrastructure parts that ordinarily sit in the on-premises data center. The IaaS offers a variety of services, including computing as a service, which comprises virtual main memory and virtual center processing units for the end-user-provided VMs. This includes the hypervisor, or virtualization layer, servers, networking equipment, and storage. The expanding policy-driven nature of these services enables IaaS users to increase the automation and orchestration of crucial infrastructure operations.
Increasing Data Traffic to Various Industries to Supplement Market
On the basis of industry, the market is categorized into IT & telecom, healthcare, retail & e-commerce, BFSI, manufacturing, education, and others.
Given that many businesses are moving portions of their infrastructure to the cloud, the healthcare industry is predicted to grow at the highest CAGR. When infrastructure is provided as a service, expenses can be greatly reduced, and businesses can access the latest equipment without having to install, buy, or maintain it themselves. Additionally, it aids in the provision of evidence-based care and more accurate, speedier diagnoses for treatments, preventing the repetition of pointless examinations. Electronic Health Record (EHR) also provides the sector with powerful analytics for better healthcare measures. However, IaaS is an excellent tool for managing huge datasets since it can maintain control over who has access to patient data.
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Regional Insights
North America Dominates the Market Due to Growing Popularity
The largest Infrastructure as a Service market share belongs to North America. IaaS is one of the most popular services in this region. Due to the presence of multiple big businesses, North America is a successful center for innovation and market growth. Many businesses provide a wide range of services to host, administer, and maintain various types of IT infrastructure in a private or public data center, including Amazon Web Services, Inc., IBM Corporation, VMware, Inc., and others. The data center is accessible online and from many locations.
Competitive Landscape
Key Players Concentrate on Acquisitions and Partnerships for Dominance
Top competitors are concentrating on extending their global reach by launching sector-specific solutions to spur innovation and new product launches to draw a sizable consumer base and boost sales. Innovations and the introduction of new products draw a large customer base, increasing sales. Our study also gives vendors a thorough understanding of the infrastructure as services industry, which they can use to their advantage in the market throughout the forecast period. For market expansion, a lot of companies are developing partnerships, mergers, acquisitions, and collaborative tactics.
List of Key Players Profiled in the Infrastructure as a Service Market Report:
- Amazon Web Services (AWS) (U.S.)
- Microsoft Azure (U.S.)
- Google Cloud Platform (GCP) (California)
- Alibaba Cloud (China)
- Oracle Cloud (U.S.)
- IBM Cloud (Kyndryl) (U.S.)
- Tencent Cloud (China)
- OVHCloud (France)
- DigitalOcean (U.S.)
- Linode (Akamai) (U.S.)
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Major Table of Contents:
- Global Infrastructure as a Service Market Size Estimates and Forecasts, By Segments, 2019-2030
- Key Findings
- By Deployment Type (USD)
- Public
- Private
- Hybrid
- By Services Type (USD)
- Computing
- Networking
- Storage
- Others
- By Industry (USD)
- IT & Telecom
- Healthcare
- Retail & e-commerce
- BFSI
- Manufacturing
- Education
- Others
- By Region (USD)
- North America
- South America
- Europe
- Middle East & Africa
- Asia Pacific
- North America Infrastructure as a Service Market Size Estimates and Forecasts, By Segments, 2019-2030
- Key Findings
- By Deployment Type (USD)
- Public
- Private
- Hybrid
- By Services Type (USD)
- Computing
- Networking
- Storage
- Others
- By Industry (USD)
- IT & Telecom
- Healthcare
- Retail & e-commerce
- BFSI
- Manufacturing
- Education
- Others
- By Country (USD)
- United States
- Canada
- Mexico
- South America Infrastructure as a Service Market Size Estimates and Forecasts, By Segments, 2019-2030
- Key Findings
- By Deployment Type (USD)
- Public
- Private
- Hybrid
- By Services Type (USD)
- Computing
- Networking
- Storage
- Others
- By Industry (USD)
- IT & Telecom
- Healthcare
- Retail & e-commerce
- BFSI
- Manufacturing
- Education
- Others
- By Country (USD)
- Brazil
- Argentina
- Rest of South America
TOC Continued…
FAQ’s
What is the market size of infrastructure as a service?
The global infrastructure as a service market size was valued at USD 108.81 billion in 2022. The market is projected to grow from USD 130.08 billion in 2023 to USD 531.84 billion by 2030.
What is the market growth of infrastructure as a service?
The global infrastructure as a service market growth exhibiting a CAGR of 22.3% during the forecast period.
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