Redding, California, March 06, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled, ‘Infrastructure-as-a-Service (IaaS) Market by Offering (Data Centers, Storage, Compute, Network), Deployment Mode (Public Cloud, Private Cloud, Hybrid Cloud), End-use Industry (IT & Telecom, BFSI, Healthcare), and Geography - Global Forecast to 2030,’ the IaaS market is projected to reach $405.4 billion by 2030, at a CAGR of 23.3% from 2023 to 2030.
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The growth of this market is driven by the advantages offered by IaaS compared to conventional on-premise servers and their affordable subscription-based pricing models. In addition, the increasing adoption of cloud technologies across SMEs is expected to offer significant opportunities for the growth of this market. However, compromise on the confidentiality of enterprises’ private data is expected to restrain the market growth.
Impact of COVID-19 on the IaaS Market
The COVID-19 pandemic adversely impacted the global economy and business operations worldwide. Nationwide lockdowns and social distancing norms imposed across several countries negatively affected multiple industries. The impacts included supply chain disruptions, issues with shipping & distribution, and restrictions on international trade. Uncertainty regarding the duration of the lockdowns made it difficult for the key market players to anticipate the recovery of the IaaS market. Numerous cloud-based technology providers were under immense pressure across various fronts due to the COVID-19 pandemic.
However, economies are recovering rapidly, and there is an increase in smart infrastructure development and the adoption of cloud-based technologies in the IT & telecom sector, which is expected to offer significant growth opportunities for players operating in the IaaS market. In addition, sectors such as healthcare, BFSI, and media & entertainment also witnessed the benefits of cloud services to enhance their capabilities. Furthermore, several businesses are increasingly adopting cloud-based solutions. Local governments implemented several relief steps to mitigate the negative impacts of the COVID-19 pandemic. Thus, these factors are expected to enable the recovery of the IaaS market.
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The IaaS market is segmented by offering (data center, storage, compute, network, and other offerings), deployment mode (public cloud, private cloud, and hybrid cloud), organization size (small and medium-sized enterprises (SMEs) and large enterprises), end-use industry (IT & telecom, BFSI, healthcare, retail & e-commerce, government & defense, manufacturing, transportation & logistics, and other end-use industries), and geography. The study also evaluates industry competitors and analyses the market at the country and regional levels.
Based on offering, the IaaS market is segmented into data center, storage, compute, network, and other offerings. In 2023, the compute segment is expected to account for the largest share of the IaaS market. Additionally, this segment is slated to register the highest CAGR during the forecast period. The growth of this segment is attributed to the surge in demand for consistent performance and security for physically isolated networks.
Based on deployment mode, the IaaS market is segmented into public cloud, private cloud, and hybrid cloud. In 2023, the hybrid cloud segment is expected to account for the largest share of the IaaS market. Additionally, this segment is slated to register the highest CAGR during the forecast period. The large market share and growth of this segment are attributed to the increasing number of data centers and demand for hybrid cloud mode of deployment among enterprises.
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Based on organization size, the IaaS market is segmented into small and medium-sized enterprises (SMEs) and large enterprises. In 2023, the small and medium-sized enterprises (SMEs) segment is expected to account for the larger share of the IaaS market. However, the large enterprises segment is projected to register the highest CAGR during the forecast period. This segment's growth is attributed to the strong IT infrastructure of large enterprises and the growing adoption of advanced cloud-based technologies.
Based on end-use industry, the IaaS market is segmented into IT & telecom, BFSI, healthcare, retail & e-commerce, government & defense, manufacturing, transportation & logistics, and other end-use industries. In 2023, the IT & telecom segment is expected to account for the largest share of the overall IaaS market. Additionally, this segment is slated to register the highest CAGR during the forecast period. This segment's growth is attributed to the increasing use of infrastructure services and the expansion of IT and telecom industries with data centers.
Based on geography, the IaaS market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2023, North America is expected to account for the largest share of the IaaS market. The large share of this regional market is attributed to the presence of top key players and the increasing adoption of cloud computing and 5G technology in the region. However, Asia-Pacific is slated to register the highest CAGR during the forecast period. The growth of this region is attributed to the increasing number of data centers across the region and the rapid expansion of the IT & telecom industries in India, China, and Japan.
The report also includes an extensive assessment of the key growth strategies adopted by leading market participants between 2020 and 2022.
The IaaS market is dominated by a few major players, namely, Amazon Web Services, Inc. (U.S.), Microsoft Corporation (U.S.), Alibaba Cloud (China), Google LLC (U.S.), Cisco Systems, Inc. (U.S.), IBM Corporation (U.S.), Oracle Corporation (U.S.), VMware, Inc. (U.S.), Red Hat, Inc. (U.S.), Fujitsu Limited (Japan), Huawei Technologies Co., Ltd. (China), Redcentric plc (U.K.), Rackspace Technology Global, Inc. (U.S.), Dell Technologies, Inc. (U.S.), SAP SE (Germany), and Linode LLC (U.S.).
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Scope of the Report:
IaaS Market, by Offering
- Data Centers
- Storage
- Compute
- Network
- Other Offerings
IaaS Market, by Deployment Mode
- Public Cloud
- Private Cloud
- Hybrid Cloud
IaaS Market, by Organization Size
- Small and Medium-sized Enterprises (SMEs)
- Large Enterprises
IaaS Market, by End-use Industry
- IT & Telecom
- BFSI
- Healthcare
- Retail & E-commerce
- Government & Defense
- Manufacturing
- Transportation & Logistics
- Other End-Use Industries
IaaS Market, by Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Latin America
- Middle East & Africa
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