Pune, India, Oct. 23, 2023 (GLOBE NEWSWIRE) -- The global infrastructure as a service market size was valued at USD 108.81 billion in 2022 and is projected to reach USD 531.84 billion by 2030, exhibiting a CAGR of 22.3% over the forecast period. Fortune Business Insights presents this information in their report titled "Global Infrastructure as a Service Market Forecast, 2023-2030."
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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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.
Key Industry Developments
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.
Key Takeaways
- Infrastructure as a service market size in North America was USD 48.80 billion in 2022
- Rising Demand for Hybrid Cloud Services to Drive Segment Growth
- Cost Optimization and Cloud Adoption to Propel Market
- Increasing Data Traffic to Various Industries to Supplement Market
Discover the Leading Players Featured in the Report:
“Companies leading the global IaaS market are 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.).”
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 |
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Drivers & Restraints:
Rapid Data Access to Propel 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.
Rising Demand for Hybrid Cloud Services to Drive Segment Growth
Due to the growing adoption of hybrid models, the 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.
Segmentation
By Deployment
- Public
- Private
- Hybrid
By Service
- Computing
- Networking
- Storage
- Others
By Industry
- BFSI
- Retail & E-commerce
- Healthcare
- Education
- Manufacturing
- IT & Telecom
- Others
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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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.
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FAQs
How big is the infrastructure as a service market?
The infrastructure as a service market size was USD 108.81 billion in 2022. It is expected to reach USD 531.84 billion by 2030.
How fast is the infrastructure as a service market growing?
The infrastructure as a service market will exhibit a CAGR of 22.3% during the forecast period, 2023-2030.
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