Bare Metal Cloud Market worth $16.4 billion by 2026, growing at a CAGR of 24.1%: Report by MarketsandMarkets™

Chicago, Aug. 04, 2023 (GLOBE NEWSWIRE) -- The global Bare Metal Cloud Market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 24.1% during the forecast period, to reach USD 16.4 billion by 2026 from USD 4.5 billion in 2020, according to a new report by MarketsandMarkets™. The Bare Metal Cloud Market is diversified and competitive with many players and expected to grow in the coming years as the adoption of cloud is significantly increasing among enterprises as well as SMEs across several verticals, including manufacturing, government and public sector, healthcare, and IT and telecommunications.

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175 - Tables
45 - Figures
191 - Pages

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Scope of Report

Developing countries across APAC and MEA are expected to offer more opportunities for vendors in the market. In current times, the Bare Metal Cloud Market is profitable for bare metal cloud vendors as several companies from diverse verticals are progressively adopting cloud-based solutions and services. This market is expected to grow further in North America and Europe, whereas it is expected to hold a significant growth rate in APAC, Latin America, and MEA. Factors such as the increased adoption of cloud among SMEs and the Work From Home (WFH) business model due to COVID–19 are expected to drive the market growth.

The bare metal compute service segment is expected to grow at a higher CAGR during the forecast period. The bare metal cloud compute services provide the flexibility to run the demanding workloads and less compute-intensive applications in a secure and highly available cloud environment. Compute services are used for load balancing, which improves the distribution of workloads across multiple computing resources, such as computer clusters, network links, central processing units, or disk drives. Compute services provide flexibility for workload, monetization and termination of instances as per the requirement, and high speed and low latency in computing operations.

The storage service segment is expected to grow at a higher rate during the forecast. These services are highly scalable and flexible in terms of storage capacity. Object storage services are used for the automatic replication of data and recreating a copy of the data. These services are self-healing, and data integrity is actively monitored using checksums. Corrupt data is auto-detected and auto-healed from redundant copies. Moreover, object storage services are highly elastic because of which there is no need to estimate the storage requirements; a user can start with a small set-up and scale over time.

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Banking, Financial, Services, and Insurance (BFSI) is one of the fastest-growing segment. The banking vertical predominantly requires bare-metal cloud services with the rise in the transactions and details related to them. Moreover, the critical need for high security and data protection during online banking, secure transactions, and access violations has also pushed the data traffic demanding the use of bare metal cloud solutions. In areas, such as risk analytics, derivatives pricing, quantitative modeling, portfolio optimization, and bank stress-testing, the use of High-Performance Computing (HPC) for a quick performance of complex calculations on large data sets is becoming increasingly prevalent.

APAC is one of the fastest-growing regions in terms of technology adoption, and the demand for digitization is driven by various initiatives carried out by different governments and large enterprises in the region. Countries such as China, Japan, Australia, Singapore, India, and Indonesia are leading this technology adoption, which includes embracing new-age technologies such as AI, edge, IoT, analytics, and cloud. The region houses a large number of enterprises related to retail and consumer goods, telecommunications, healthcare and Lifesciences, manufacturing, and media and entertainment, which is further expected to drive the demand for bare metal cloud. The governments of the APAC region are also adopting cloud by various initiatives, such as smart cities initiatives will be one of the prime catalysts for the adoption of public cloud bare metal professional and managed services. Government agencies are preferring the transformation of their incumbent IT infrastructure to handle data-intensive workloads with customized, on-demand, highly flexible secured single-tenant bare metal servers.

Top Companies in Bare Metal Cloud Market:

The Bare Metal Cloud Market includes major vendors, such as IBM (US), Oracle (US), Lumen (US), Internap (US), Rackspace (US), AWS (US), Dell (US), Equinix (US), Google (US), Microsoft (US), Alibaba Cloud (China), Scaleway (France), Joyent (US), HPE (US), OVHcloud (France), Limestone Networks (US), Media Temple (US), Bigstep (UK), Zenlayer (US), and phoenixNAP (US). The major players have implemented various growth strategies to expand their global presence and increase their market shares. Key players such as IBM, Oracle, Lumen, Internap and Rackspace have majorly adopted many growth strategies, such as new product launches, acquisitions, and partnerships, to expand their product portfolios and grow further in the Bare Metal Cloud Market.

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Top Trends in Global Bare Metal Cloud Market:

• Due to its capacity to offer the performance and isolation benefits of devoted physical servers combined with the flexibility and scalability of cloud computing, bare metal cloud services were becoming more and more popular.
• Many businesses were using dedicated bare metal servers in combination with virtualized cloud resources as part of their hybrid cloud strategy to create a balanced and effective IT architecture.
• Bare metal cloud is appealing for handling resource-intensive tasks like artificial intelligence (AI) and big data processing, where dedicated hardware resources are essential.
• Businesses that needed higher levels of security and compliance, especially those subject to tight regulatory requirements, preferred bare metal cloud services.
• Businesses looking for more control over their infrastructure and the flexibility to alter hardware configurations to suit their particular requirements found the bare metal cloud to be appealing.
• To avoid vendor lock-in and enhance redundancy and disaster recovery capabilities, businesses were implementing multi-cloud strategies, and bare metal cloud was being incorporated into these strategies.
• Edge computing and bare metal cloud were proven to be a potent combination for powering AI and Internet of Things (IoT) applications as well as enabling real-time data processing and analytics at the network edge.
• DevOps tools and automation capabilities were being incorporated by bare metal cloud providers into their services to speed up the provisioning, scaling, and maintenance of bare metal servers.

Key Industry Development:

• In order to diversify their product portfolios and customer bases, major cloud service providers and data centre operators have been forming strategic alliances and buying bare metal cloud providers.
• Businesses were able to easily execute resource-intensive workloads thanks to improvements made by bare metal cloud providers in terms of performance and scalability.
• For AI, machine learning, and other data-intensive applications, providers were incorporating the most recent technologies, including as GPUs and FPGAs, to improve the capabilities of bare metal servers.
• In order to enable quicker data processing and lower latency at the network edge, some providers started offering bare metal cloud services customised expressly for edge computing use cases.
• Businesses were able to manage and automate bare metal infrastructure more easily thanks to improvements in APIs and the introduction of developer-friendly tools.
• To answer the specific needs of industries like banking, healthcare, and gambling, some providers started offering industry-specific bare metal cloud solutions.
• The performance benefits and flexibility of dedicated hardware were luring Small and Medium-sized Enterprises (SMEs) to adopt bare metal cloud services.
• With the growth of open-source initiatives for managing bare metal infrastructure, companies now have more options and freedom when developing and implementing their solutions.

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