The infrastructure as a service (IaaS) market was estimated to reach around USD 49.3 billion in 2020, and projected to grow at a CAGR of 26.7% over the forecast period.
Infrastructure as a Service (IaaS) is a cloud computing service that allows companies to rent or lease compute and storage servers in the cloud. Users can use the rented servers to run any operating system or application without having to pay for server maintenance and operation.
Infrastructure as a service (IaaS) is a growing industry with a number of approaches, making it a profitable sector. The growing demand for organisations to reduce their IT burden and cut the costs of creating data centres and recruiting competent staff to administer their IT infrastructures is driving the adoption of IaaS. The growing demand from small and medium-sized businesses, the need to deploy enterprise-level computing capabilities to compete in the market, and the growing digitalization of businesses and economies are all major areas of promise for IaaS.
Various agencies have established a goal of reducing IT infrastructure management costs and concentrating on their core operations. Technology improvements have resulted in improved mobility, ease of access, a more sophisticated working environment, and the development of digitalization in a range of business verticals. Other major factors driving industry growth are ease of deployment, adaptability, and scalability of services.
Rising demand for hybrid cloud platforms is projected to fuel the infrastructure as a service market. By utilising hybrid cloud services, businesses will be able to avoid entrusting all of their data to a single system. When all of an organization's data is housed in one area, it makes it more exposed to unplanned breakdowns or data theft. In compared to other types of software, such as public cloud, hybrid cloud design decreases the danger of data theft or loss in the event of a disaster.
The report also emphasizes several distinctiveness of the global infrastructure as a service (IaaS) industry by valuing the market from value chain breakdown. Moreover, the report encompasses numerous qualitative features of the infrastructure as a service (IaaS) industry which comprises market restraints, drivers, as well as key industry opportunities. Furthermore, the report offers an inclusive evaluation of the company profiling along with the market rivalry of local and global vendors.
The infrastructure as a service (IaaS) market has tough competition among the new emerging and pre-established market vendors. Besides, the infrastructure as a service (IaaS) industry vendors are trying to capture the prospective markets to grab a competitive advantage over the remaining industry vendors. To capture the market, market players are forming agreements, acquiring other companies & startups, mergers & acquisitions, partnerships & collaboration, and escalating their business existence.
The market is divided into BFSI, healthcare, retail and E-commerce, government & defence, IT & telecom, energy & utilities, manufacturing, and others based on Industry Verticals. The IT and telecom industries, as well as the BFSI and healthcare industries, make up the bulk of the overall market share. Concerns about the security, confidentiality, and management of such a large volume of critical individual information, financial, and other health-related data, as well as the growing volume of business data in these verticals, are some of the major factors driving high market spending by verticals.
North America dominates the global infrastructure as a service (IaaS) market, which is expected to grow at a steady pace throughout the forecast period. Because of the presence of large IT infrastructure in North America, the IaaS market there dominated global demand. The region's market supremacy can be linked to software development advancements and the creation of several cloud-based solutions.
The major players of the global Infrastructure as a Service (IaaS) market are Mindtree Pvt. Ltd., Amazon Web Services, Inc., IBM Corporation, Cisco Systems, Inc., Savvis, Google Inc., VMware, Inc., Microsoft Corporation, Rackspace Inc., Fujitsu Ltd., Computer Sciences Corp, and Profitbricks Inc. among others. Renowned companies are offering new and modern Infrastructure as a Service (IaaS) software solutions. In addition, the previously recognized as well as new market players are approaching the market with advanced and new strategic services and solutions and to remain competitive in the global market.
Segment Overview of Global Infrastructure as a Service (IaaS) Market
Solutions Overview, 2019-2028 (USD Billion)
- Managed Hosting
- Disaster Recovery as a Service
- Storage as a Service
- Network Management
Organization Size Overview, 2019-2028 (USD Billion)
- Large Enterprise
- Small & Medium Enterprises
Deployment Type Overview, 2019-2028 (USD Billion)
- Public Cloud
- Private Cloud
- Hybrid Cloud
Industry Verticals Overview, 2019-2028 (USD Billion)
- Retail and E-commerce
- Government & Defense
- IT and Telecom
- Energy & Utilities
Regional Overview, 2019-2028 (USD Billion)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America