New York, US, Feb. 15, 2023 (GLOBE NEWSWIRE) -- Market Analysis
According to a comprehensive research report by Market Research Future (MRFR), The intranet as a service market will touch USD 40.74 billion at a 13.82% CAGR by 2030, according to the current Market Research Future report.
Drivers
Growing Adoption of Cloud Computing Technology to Boost Market Growth
The growing adoption of cloud computing technology will boost intranet as a service market over the forecast period. To store and access corporate data on a cloud platform, firms use cloud computing technology. Collaboration is made easier and businesses' operational procedures are improved with the aid of cloud storage. Due to the growing adoption of cloud-based communication inside enterprises, usage and need for the intranet services in fact are projected to increase during the projection period. Additionally, businesses are concentrating on cloud solutions to enhance the performance of the process execution.
Opportunities
Lower Maintenance Costs to offer Robust Opportunities
The lower maintenance expenditure, higher flexibility, and burgeoning trend of as a service will offer robust opportunities for the market in the forecast period.
Key Players
- Livetiles Attollo Group Ltd. (UK)
- Akumina
- Inc. (US)
- Perficient
- Inc. (US)
- Powell Software (France)
- Beetroot AG (Switzerland)
- HUBFLY (US)
- Happeo (Finland)
- Aurea
- Inc. (US)
- Elastic Solutions (Poland)
- Withum Smith+Brown
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Intranet as a Service Market Report Scope:
| Report Metrics | Details |
| IaaS Market Size by 2030 | USD 40.74Billion |
| IaaS Market CAGR | 13.82% |
| Base Year | 2019 |
| Forecast | 2020-2030 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Key Market Drivers | Company intranet platform supports a positive employee culture which leads to a more engaged virtual workforce. They are a powerful solution that allows employees to access the files they need while also communicating and mingling with each other socially. |
Restraints and Challenges
Data Security Risks to act as Market Restraint
Data security risks coupled with the reluctance of employees to adopt novel technologies may act as market restraints over the forecast period.
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Market Segmentation
The global intranet as a service market has been bifurcated based on offering, services, organization size, and vertical.
By offering, solutions will lead the market over the forecast period.
By services, the market is segmented into deployment and implementation services, professional services, and other support services.
By organization size, the SMEs will dominate the market over the forecast period.
By vertical, the market is segmented into manufacturing, education, media and entertainment, travel and hospitality, government and defense, BFSI, IT and Telecom, and others.
Due to the existence of several domestic and international industry players, the IaaS market is fragmented and competitive. These players have employed a variety of cutting-edge techniques, such as contracts, partnerships, collaborations, joint ventures, new product launches, geographic expansions, and more, to stay on the cutting edge while also meeting the escalating client demand. They are also funding a lot of research and development projects.
COVID-19 Analysis
The market is anticipated to benefit from the present worry over the spread of new coronavirus. The COVID-19 disruption has led to an increase in the market for internet services. The IaaS sector is experiencing considerable market expansion during the pandemic as a result of shifting lifestyles, the adoption of new work cultures, and rising need for online services. The use of the internet around the world is also being fueled by the installation of rigorous government laws including social seclusion, travel restrictions, and a temporary suspension of organizations to stop the spread of the coronavirus. Many businesses are in need of new and improved methods of connecting with their employees as a result of the current digital disruption & the shift towards remote employment. As a result, the market is expanding and drawing substantial investments.
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Regional Analysis
North America to Lead Intranet as a Service Market
North America currently dominates the worldwide market and will hold that position during the evaluation period. The need for the cloud-based software solution is driving growth in the intranet as a service (IaaS) industry in this region. The expansion of the IaaS sector is also fueled by the region's developed infrastructure and technical advancements. Additionally, the market is stimulated by elements including the widespread presence of large companies, ongoing investments, and the emphasis on the IaaS application amid SMEs within the region. The largest market share is held by the US market, followed by Canada & Mexico.
North America has dominated the market during the forecast period and is anticipated to do so going forward. The region is amid the most significant on the global market. The market's growth is attributed to the presence of prominent key players like Cisco, IBM, & Verizon as well as widespread implementations across sectors. Rapid advancements in IT design, such as cloud and virtualization, have put a tremendous amount of pressure on network administrators for maintaining intranet infrastructure. The regional market is expanding as a result of the rise in need for higher speed networks as well as rivalry among top networking and intranet firms for improved client experiences.
A sizeable percentage of the global market is attributable to the North American continent. The market is developing as a result of the increasing use of the IaaS across industries and the presence of significant important players. Additionally, in the North American region, the need for the internet infrastructure management is being driven by the rapid development of IT systems like virtualization and cloud.
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Europe to Have Admirable Growth in Intranet as a Service Market
The second-largest portion of the worldwide market belongs to Europe. Numerous top developers and providers of intranet platforms are based in the region. The demand for managing corporate operations, like information management & cross-team cooperation, is growing among many organizations, which is boosting the market for intranet as a service.
The largest SaaS market share is predicted for the UK, followed via Germany, Spain, & the rest of Europe. The abundance of cloud-based intranet solutions offered by healthcare facilities, financial institutions, and other organizations is one of the additional reasons propelling the intranet market's expansion.
Industry Updates
January 2023- Codex IT, a leading name in managed services and healthcare technology solutions, has just announced the purchase of Salt Lake City, Utah-based Intranet Consulting, Inc., a leading managed services provider (MSP).
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