New York, United States, Dec. 05, 2023 (GLOBE NEWSWIRE) -- The Global Cloud Infrastructure Services Market Size is to Grow from USD 113.5 Billion in 2022 to USD 587.9 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 17.8% during the projected period.
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Cloud Infrastructure Services, commonly referred to as Infrastructure as a Service (IaaS), denote virtualized computing resources provided via the internet. It represents a crucial component of cloud computing, delivering the essentials of IT without the associated physical constraints. Historically, businesses poured substantial capital into tangible assets such as servers and data centers. However, IaaS has redefined this approach, allowing third-party providers to host these resources and lease them on-demand through the cloud. This model affords businesses the flexibility to provision resources as needed and pay as they go. This agility allows businesses to adapt swiftly without the overheads of traditional infrastructure. Moreover, the responsibility of upkeep, updates, and security predominantly rests on the service provider, granting businesses more bandwidth to prioritize innovation. The trajectory of the global cloud infrastructure services market is ascendatory, with rapid adoption due to perceived benefits such as cost savings, scalability, and the facilitation of emerging technologies like AI and IoT. This expansion is fueled by digital shifts, escalating needs for flexible solutions, and the appeal of cost-effectiveness. Market leaders are merging with cloud service providers, amplifying their offerings and making them more tailored. As the momentum towards digital transformation surges, so does the anticipation for the cloud infrastructure services domain to further solidify its role in shaping the IT industry's future.
Browse key industry insights spread across 200 pages with 110 market data tables and figures & charts from the report on the “Global Cloud Infrastructure Services Market Size, Share, and COVID-19 Impact Analysis, By Type (Compute as a Service, Storage as a Service, Disaster Recovery and Backup as a Service, Networking as a Service, Desktop as a Service, Managed Hosting, Others), By Deployment (Public Cloud, Private Cloud, Hybrid Cloud), By Industry (IT and Telecom, Government, Retail & Consumer Goods, Manufacturing, BFSI, Energy & Utilities, Media & Entertainment, Healthcare & Life Sciences, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032.”
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The compute as a service segment is dominating the market with the largest revenue share over the forecast period.
On the basis of type, the global cloud infrastructure services market is segmented into the compute as a service, storage as a service, disaster recovery and backup as a service, networking as a service, desktop as a service, managed hosting, and others. Among these, the compute as a service segment is dominating the market with the largest revenue share of 32.7% over the forecast period. The requirement for scalable processing power without the accompanying expenditures of physical infrastructure has fueled demand for virtual computing resources, propelling compute as a service to the forefront of the cloud sector. This service provides virtualized computer resources over the internet.
The public cloud segment is expected to hold the largest share of the Global Cloud Infrastructure Services Market during the forecast period.
Based on the deployment, the global cloud infrastructure services market is classified into public cloud, private cloud, and hybrid cloud. Among these, the public cloud segment is expected to hold the largest share of the cloud infrastructure services market during the forecast period. Third-party cloud service providers administer and maintain public cloud infrastructure, which provides computer resources like servers and storage via the Internet. Its appeal stems mostly from its low cost, extensive scalability, and ability to offload IT management and maintenance.
The IT and telecom segment accounted for the largest revenue share of more than 57.2% over the forecast period.
On the basis of end-uses, the global cloud infrastructure services market is segmented into IT and telecom, government, retail & consumer goods, manufacturing, BFSI, energy & utilities, media & entertainment, healthcare & life sciences, and others. Among these, the IT and telecom segment is dominating the market with the largest revenue share of 27.4% over the forecast period. The IT and telecom business is the largest consumer of cloud infrastructure services because to the intrinsic nature of the industry, which centers around data, connectivity, and applications. Cloud services are heavily used in IT and telecommunications for application hosting, data storage, and efficient computing operations.
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North America dominates the market with the largest market share over the forecast period.
North America, led by the U.S., holds a dominant position in the cloud infrastructure market, boasting over 43.7% share. This dominance is attributed to its early embracement of cloud technologies, presence of major players like Amazon Web Services, Microsoft Azure, and Google Cloud, and a thriving startup ecosystem in places like Silicon Valley that leans heavily on cloud solutions. Meanwhile, Asia Pacific, with countries like China, India, and Japan, is poised for the swiftest growth due to increased digitization, e-commerce proliferation, and broader cloud tech adoption. Europe is also witnessing significant growth in this arena, propelled by both continent-wide initiatives and local demands, notably the implications of the GDPR.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Cloud Infrastructure Services Market include Amazon Web Services, Inc., Google LLC, Microsoft Corporation, IBM Corporation, Oracle Corporation, Alibaba, NEC, Dimension Data, Bluelock, VMware, Rackspace, Skytap, AT&T, Navisite, DigitalOcean, Hewlett-Packard Enterprise, and among others.
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Recent Developments
- On August 2023, Google Cloud Next — Google Cloud and NVIDIA unveiled new AI infrastructure and tools to help businesses develop and deploy huge models for generative AI and accelerate data science workloads.
- On May 2022, by relying on Kyndryl to update its IT environment with cloud and automation services and solutions, Alpitour is working on a massive digital transformation to support its business ambitions. The two companies' long-standing collaboration has been extended until 2027, and it was recently reinforced with a series of milestones that began with the migration of midrange IT systems to Amazon Web Services (AWS) cloud services, and with the use of a "pay as you go" model capable of enabling Alpitour's business advantages in terms of flexibility, security, scalability, and cost optimization.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Cloud Infrastructure Services Market based on the below-mentioned segments:
Cloud Infrastructure Services Market, Type Analysis
- Compute as a Service
- Storage as a Service
- Disaster Recovery and Backup as a Service
- Networking as a Service
- Desktop as a Service
- Managed Hosting
- Others
Cloud Infrastructure Services Market, Deployment Analysis
- Public Cloud
- Private Cloud
- Hybrid Cloud
Cloud Infrastructure Services Market, Industry Analysis
- IT and Telecom
- Government
- Retail & Consumer Goods
- Manufacturing
- BFSI
- Energy & Utilities
- Media & Entertainment
- Healthcare & Life Sciences
- Others
Cloud Infrastructure Services Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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