Dublin, March 01, 2024 (GLOBE NEWSWIRE) -- The "Infrastructure-as-a-Service Market by Offering (Compute, Storage, Others), Deployment (Public, Private, Hybrid), Organization Size, Application (Hosting, Others), Sector (IT & Telecommunications, BFSI, Others), & Geography - Global Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The research report provides in-depth analysis of infrastructure-as-a-service market across five major geographies and emphasizes on the current market sizes, market shares, recent developments, and forecasts till 2030.
The global infrastructure-as-a-service market is expected to reach $411.9 billion by 2030, growing at a CAGR of 22.6% during the forecast period of 2023-2030.
The growth of the infrastructure-as-a-service market is driven by the growing adoption of cloud infrastructure in the BFSI sector. However, data privacy & security concerns restrain the growth of this market.
The growing adoption of cloud technologies among SMEs and the increasing focus on customized and managed cloud services are expected to create growth opportunities for the players operating in the infrastructure-as-a-service market. However, the shortage of skilled IT professionals poses a major challenge for market growth. Additionally, Storage-as-a-Service (STaaS) and integration of advanced technologies with cloud infrastructure are key trends in the market.
Based on offering, the market is segmented into compute, network, storage, and other offerings. In 2023, the compute segment is expected to account for the largest share of the infrastructure-as-a-service market. However, the storage segment is projected to register the highest CAGR during the forecast period. The growth of this segment is driven by the increasing volume of data in large enterprises and the increasing demand for storage solutions to reduce the installation and maintenance costs of data centers.
Based on deployment mode, the market is segmented into public cloud, private cloud, and hybrid cloud. In 2023, the public cloud segment is expected to account for the largest share of the infrastructure-as-a-service market. However, the hybrid cloud segment is projected to register the highest CAGR during the forecast period. The growth of this segment is driven by the increasing deployment of hybrid cloud by organizations to improve performance and increase security, modernize existing infrastructure, reduce cost, and use both public & private cloud according to the company requirements.
Based on organization size, the market is segmented into large enterprises and small & medium-sized enterprises. In 2023, the large enterprises segment is expected to account for the larger share of the infrastructure-as-a-service market. However, the small & medium-sized enterprises segment is projected to register the highest CAGR during the forecast period. The growth of this segment is driven by the growing digital transformation, growing adoption of public cloud services, and benefits related to IaaS solutions such as low cost, security, and better computing processes.
Based on application, the market is segmented into testing and development, hosting, storage, backup and recovery, high-performance computing, and other applications. In 2023, the storage, backup, and recovery segment is expected to account for the largest share of the infrastructure-as-a-service market. Moreover, this segment is also projected to register the highest CAGR during the forecast period. The growth of this segment is driven by the increasing digital transformation and migration of workload in the cloud and increasing volume of data in large enterprises.
Based on sector, the market is segmented into IT & telecommunications, BFSI, healthcare, retail & e-commerce, government & defense, manufacturing, transportation & logistics, and other sectors. In 2023, the IT & telecommunications segment is expected to account for the largest share of the infrastructure-as-a-service market. However, the retail & e-commerce segment is projected to register the highest CAGR during the forecast period. The growth of this segment is driven by the increasing need to automate workflows and online transactions, the need for data integrity in the retail & e-commerce industry, and the increasing use of cloud infrastructure to store data and offer insights regarding customer preferences.
Geographic Review:
Based on geography, the market is broadly segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa region. In 2023, North America is expected to account for the largest share of the infrastructure-as-a-service market. However, Asia-Pacific is projected to register the highest CAGR during the forecast period.
The growing adoption of IaaS by small and medium-sized enterprises to reduce maintenance costs, the increasing proliferation of cloud computing services in China and Japan, and the presence of well-established IaaS providers in China are propelling the demand for infrastructure-as-a-service in the region.
For instance, in November 2022, Amazon Web Services, Inc. (AWS) (U.S.) (a subsidiary of Amazon.com, Inc.) launched its second AWS infrastructure Region in India - the AWS Asia-Pacific (Hyderabad) Region. This infrastructure aims to allow developers, startups, entrepreneurs, enterprises, government, education, and non-profit organizations to migrate their workloads to data centers located in India.
Key questions answered in the report:
- Which are the high-growth market segments in terms of the offering, deployment mode, organization size, application, sector, and countries?
- What is the historical market for infrastructure-as-a-service across the globe?
- What are the market forecasts and estimates from 2023-2030?
- What are the major drivers, restraints, and opportunities in the global infrastructure-as-a-service market?
- Who are the major players in the global infrastructure-as-a-service market, and what shares of the market do they hold?
- Who are the major players in various countries, and what shares of the market do they hold?
- How is the competitive landscape?
- What are the recent developments in the global infrastructure-as-a-service market?
- What are the different strategies adopted by the major players in the global infrastructure-as-a-service market?
- What are the geographical trends and high-growth countries?
- Who are the local emerging players in the global infrastructure-as-a-service market, and how do they compete with the other players?
Market Insights
Factors Affecting Market Growth
- Increasing Adoption of Cloud Infrastructure in the BFSI Sector to Reduce Hardware Installation & Maintenance Costs
- Enterprises' Increasing Preference for IaaS over Conventional On-premise Services Due to the Benefits Offered
- Data Privacy & Security Concerns Hampering the Adoption of Infrastructure-as-a-Service Solutions
- Growing Adoption of Cloud Technologies to Boost the Need for IaaS Solutions Among SMEs
- Organizations' Increasing Focus on Customized and Managed Cloud Services to Drive the Demand for Infrastructure-as-a-Service
- Shortage of Skilled IT Professionals Impacting Market Growth
Trends
- Storage-as-a-Service (STaaS)
- Integration of Advanced Technologies with Cloud Infrastructure
- Case Studies
Company Profiles (Business Overview, Financial Overview, Product Portfolio, and Strategic Developments)
Leading Players
- Amazon Web Services, Inc. (A Subsidiary of Amazon.Com, Inc.)
- Microsoft Corporation
- Alibaba Cloud (A Subsidiary of Alibaba Group Holding Limited)
- Google LLC (A Subsidiary of Alphabet, Inc.)
- Huawei Technologies Co., Ltd. (A Subsidiary of Huawei Investment & Holding Co., Ltd.)
- Oracle Corporation
- International Business Machine Corporation
- Cisco Systems, Inc.
- SAP SE
- Vmware, Inc.
- Rackspace Technology, Inc.
- Digitalocean LLC (A Subsidiary of Digitalocean Holdings, Inc.)
- Hewlett Packard Enterprise Company
- Tencent Cloud
Other Players
- Linode LLC
- NTT Communications Corporation
- Utho
- Vultr
Competition Analysis
- Key Growth Strategies
- Competitive Benchmarking
- Competitive Dashboard
- Industry Leaders
- Market Differentiators
- Vanguards
- Emerging Companies
- Market Share Analysis
Scope of the Report:
Market Assessment, by Offering
- Compute
- Network
- Storage
- Other Offerings
Market Assessment, by Deployment Mode
- Public Cloud
- Private Cloud
- Hybrid Cloud
Market by Assessment, by Organization Size
- Large Enterprises
- Small & Medium-sized Enterprises
Market by Assessment, by Application
- Testing and Development
- Hosting
- Storage, Backup, and Recovery
- High-Performance Computing
- Other Applications
Market by Assessment, by Sector
- IT & Telecommunications
- BFSI
- Healthcare
- Retail & E-commerce
- Government & Defense
- Manufacturing
- Transportation & Logistics
- Other Sectors
Market Assessment, by Geography
- North America
- U.S.
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- Europe
- U.K.
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Latin America
- Middle East & Africa
For more information about this report visit https://www.researchandmarkets.com/r/x6iech
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