New York, May 19, 2023 (GLOBE NEWSWIRE) -- The cloud infrastructure market revenues were estimated at US$ 188.4 billion in 2021. Sales are anticipated to expand at 8.3% CAGR from 2023 to 2033, according to a Persistence Market Research (PMR) report. By the end of 2033, the market is expected to reach a valuation of US$ 465.0 billion.
Based on infrastructure, private Infrastructure dominates the cloud infrastructure market with a projected CAGR of 8.1% from 2022 to 2032.
Private infrastructure offers enhanced control and security over sensitive data and applications. It allows organizations to adhere to strict regulatory requirements and data sovereignty concerns. It helps in keeping the critical data on-premises or within their private network.
Big data, artificial intelligence (AI), and machine learning (ML) are being used increasingly, which is causing the industry to grow. As a result of these developments, consumers now are able to track, analyze, and observe unprocessed data, which changes the market environment.
Businesses that embrace cutting-edge technology and cloud solutions improve their ability to visualize information and make challenging data accessible and usable.
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The broad use of AI and ML technologies has controlled data usage and reduced the difficulties associated with data storage. It also helps to improve decision-making, reduce operating costs, and increase corporate efficiency.
The data and information connected to both personal and professional activities are stored by cloud-based systems. To fully benefit from the opportunities presented by the Internet of Things phenomenon, research, and investment activities need to be increased.
Using IoT-based solutions, several firms are focusing on improving the convenience and intelligence of their products and services.
Increasing adoption of hybrid and multi-cloud infrastructure or leveraging multiple cloud providers. This approach offers flexibility, and scalability, and avoids vendor lock-in.
Key Takeaways from the Clod Infrastructure Market Report:
- The global cloud infrastructure industry is set to be worth US$ 465.0 billion by the end of 2032.
- The United States is expected to reach US$ 149.8 billion by 2032 and exhibit at 7.1% CAGR from 2022 to 2032.
- The United Kingdom is likely to hold a valuation of US$ 22.5 billion by the end of 2032 and grow at 7.4% CAGR from 2022 to 2032.
- By type, service segment is likely to surpass 8.2% CAGR during the forecast period during 2022 and 2032.
- Based on infrastructure, private division is poised to expand at 8.1% CAGR from 2022 to 2032.
“Surging demand for big data, artificial intelligence (AI), and machine learning (ML) will positively fuel the market growth. Manufacturers can focus on providing cloud infrastructure services to private businesses since demand from this segment is anticipated to grow robustly through 2032.” - says a lead analyst at Persistence Market Research (PMR)
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Who is Winning?
Alphabet Inc., Amazon Web Services, Inc., Salesforce, Inc., AT&T Inc., International Business Machines Corporation, Alibaba Cloud, Oracle, Tencent Cloud, Cisco Systems. Inc., and NetApp, Inc. are some key players in the market.
Top market players are constantly thinking of novel ways to deliver high-quality goods. They are also patenting their innovations and goods and broaden their product lines. These players, who presently hold tiny chunks in the market, are constantly working to increase their market share through partnerships and acquisitions in the cloud infrastructure market.
Recent development:s
- In February 2023, Microsoft Azure launched Azure VMs for the United States. This will help to improve foundational security. It will also enable credential guard which is backed by secure boot and virtualization-based security.
- In July 2021, AT&T with Google Cloud have introduced a new solution that spans their edge computing and 5G portfolios. This portfolio includes AT&T's on-site Multi-access Fringe Computing system as well as wired, wireless, and wired LTE capabilities as well as edge capabilities. This will presumably help businesses achieve digital transformation in sectors like healthcare and retail.
More Insights Available
Persistence Market Research (PMR), in its new offering, presents an unbiased analysis of the cloud infrastructure market, presenting historical market data (2017 to 2021) and forecast statistics for the period from 2022 to 2032.
The study reveals extensive growth in the cloud Infrastructure market is categorized by type (hardware and service), end-user (BFSI, consumer goods and retail, manufacturing and business and consulting services and others) and infrastructure (public, private, and hybrid) across various regions.
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