Dublin, Dec. 06, 2023 (GLOBE NEWSWIRE) -- The "Bare Metal Cloud Market by Service Type (Compute, Networking, Database, Security, Storage, Managed), Organization Size (Large, SMEs), Vertical (BFSI, Healthcare & Life Sciences, Manufacturing) and Region - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global bare metal cloud market is anticipated to grow from USD 8.5 billion in 2023 to an impressive USD 19.1 billion by 2028, striking a Compound Annual Growth Rate (CAGR) of 17.4% during the forecast period. This significant growth trajectory can be attributed to the increasing demand for high-performance, dedicated cloud services for sophisticated AI and Machine Learning (ML) applications. However, challenges such as the lack of isolation in multi-tenant environments could potentially hamper market growth.
Storage services, within the service type spectrum, are expected to occupy the second-largest market share in 2023. The elimination of virtualization overhead through bare metal cloud storage has paved the way for enhanced data access speeds and reliability, which is particularly beneficial for compute-intensive operations like big data analytics and real-time media processing.
From an industry vertical perspective, the manufacturing sector is poised to command the second-largest market share in 2023. Manufacturing's transition to Industry 4.0, inclusive of IoT, AI, and real-time data analytics, is finding natural synergy with the capabilities offered by bare metal cloud solutions. This integration is leading to advancements in operational efficiency and quality control within the sector.
Geographically, Latin America is projected to witness substantial growth, registering the second-highest CAGR during the forecast period. The region's adoption of cloud services is stimulated by its dense urban centers and openness to global cloud service providers, creating new opportunities for local tech sectors and industries.
The detailed market profiles of primary participants reflect a diverse mix of company sizes, designations, and regions. With 38% being Tier I companies and 40% of these being C-level executives, the market analysis incorporates a wealth of experienced perspectives. A substantial representation from Europe, at 40%, signals the region's integral role in the development of the bare metal cloud market.
Renowned vendors like IBM, Oracle, AWS, and Google are among the many key players that are shaping the global market landscape. These leaders are innovating and diversifying their offerings to address the evolving needs of the bare metal cloud sector.
This comprehensive market study deftly examines various segments like service types, organization sizes, and verticals across different regions. It provides a granular view of the market dynamics, offering insights into the pivotal factors propelling the growth of the bare metal cloud market. Industry stakeholders can glean detailed information about market drivers, such as the surge in adoption of resource-intensive applications that demand high-performance computing and enhanced security & compliance, as well as challenges, and the competitive landscape within the cloud delineation.
Indeed, the report delves into key drivers like the requirement for delivering high-bandwidth connectivity and scalability, the absence of noisy neighbor concern, and the absence of a hypervisor tax influencing the market growth. Constraints like stringent cloud regulations and high costs, along with the burgeoning opportunities through the adoption of big data and DevOps applications, are extensively analyzed within this market study.
Business strategists and stakeholders stand to benefit from the strategic alignments and market insights provided, enabling them to hone their competitive edge and capitalize on emerging market opportunities within the bare metal cloud ecosystem.
For more information about this report visit https://www.researchandmarkets.com/r/t1h7bg
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