Market Analysis
Market Research Future (MRFR) projects the global infrastructure as a service market to reach USD 119.82 billion at a CAGR of 24.10% from 2022 to 2030 (forecast period).
The growing demand for hybrid computing, as well as faster implementation, scalability, and accessibility of IT systems, are driving factors in the expansion of the infrastructure as a service market. Cloud computing is becoming more popular in a variety of industries, including IT and telecom, BFSI, healthcare, retail, and e-commerce, due to increased IT resource utilization and cost-effective cloud computing services. The growing usage of multi-cloud and cloud-based IaaS platforms is also fuelling the expansion of the infrastructure as a service market. The cloud-based IaaS platform is in high demand among large organizations since it improves IT services and allows for quick data access. In contrast, a lack of IT infrastructure and data security in the cloud are some of the reasons impeding the market growth.
COVID-19 Impact on the Global Infrastructure as a Service (IaaS) Market
The implementation of a body of norms by governments worldwide to deal with the COVID-19 outbreak, like a complete shutdown of manufacturing units, has been expected to influence the growth of the global infrastructure as a service (IaaS) market.
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Key Players
Notable players in the global Infrastructure as a Service (IaaS) market are Amazon Web Services Inc. (U.S.), International Business Machines Corporation (U.S.), Google LLC (U.S.), Microsoft Corporation (U.S.), Cisco Systems Inc (U.S.), Computer Sciences Corporation (U.S.), HCL Technologies Limited (India), Accenture (Republic of Ireland), VMware, Inc. (U.S.), Rackspace Inc. (U.S.), Oracle Corporation (U.S.) and Fujitsu Ltd (Japan).
Market Segmentation
The worldwide infrastructure as a service market has been segmented based on the solution, deployment type, end-user, and verticals.
By solution, the global IaaS market has been segmented into managed hosting services, storage as a service, high-performance computing as a service, disaster recovery as a service, network management, and content delivery services. Storage as a service has been further sub-segmented into network-attached storage and storage area network-based storage.
Based on deployment, the global infrastructure as a service (IaaS) market has been segmented into the public cloud, private cloud, and hybrid cloud.
Based on end-user, the global infrastructure as a service (IaaS) market has been segmented into SMEs and large enterprises.
Based on verticals, the global infrastructure as a service (IaaS) market has been segmented into IT & telecom, BFSI, healthcare, retail and e-commerce, government & defense and among others.
Regional Analysis
The worldwide infrastructure as a service (IaaS) market is covered across regions, including North America, Europe, Asia Pacific, and the Rest of the World.
North America is seeing high demand as a result of the increasing adoption of hybrid cloud and advanced IT infrastructure, which is driving the infrastructure as a service industry. North America is followed by the European region, where the infrastructure as a service (IaaS) market is gaining traction as large enterprises increasingly use next-generation cloud-based IaaS services. In contrast, Asia Pacific countries such as China, Japan, and India are rising markets for infrastructure as a service, with the highest CAGR projected in the coming future.
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