While the world was left devastated by the COVID-19 pandemic, it definitely has revolutionized the working culture in almost every industry. In wake of the curbs imposed to curtail the spread of the dreadful virus, most of the companies opted to work remotely and this created a huge need for cloud-based solutions like cloud infrastructure. Cloud infrastructure as a service (IaaS) is basically a type of cloud computing service that provides necessary compute, storage along with resources required for networking. As many organizations have adopted the new work from home (WFH) culture, the demand for faster implementation of an IT system which is extremely robust and can be accessed from anywhere has gone up. These factors are rapidly driving the growth of the global cloud infrastructure-as-a-service (IaaS) market. Also, the fact that any mishap or disaster can happen, hence an IT system which cannot only cope with it but also supports better recovery is needed. This too contributes to the growth of this market.
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On the other hand, the cost of setup or deployment, irrespective of the type of cloud one opts for is usually higher, and this is likely to dent the growth of the global cloud infrastructure-as-a-service (IaaS) market. Despite couple of challenges, the Global cloud infrastructure-as-a-service (IaaS) market is forecasted to grow rapidly over the period of next few years. Major reason behind this is that many small and medium size business are adopting cloud infrastructure. Additionally, many companies are allowing their employees to bring their own/ personal computers to work, this too creates more opportunities for this market growth.
Key Takeaways – Global Cloud Infrastructure-as-a-Service (IaaS) Market:
- In terms of revenue, global cloud infrastructure-as-a-service (IaaS) market was valued at US$ 75.23 Bn in 2021, growing at an estimated CAGR of 40.6% over the forecast period (2022 – 2030).
- Courtesy of flexibility and robustness, the deployment of cloud infrastructure services through hybrid cloud is being done extensively, and this is the primary reason why this deployment type dominates in terms of market share.
- In an attempt to reduce operational costs, many small and medium business are turning towards cloud solutions.
- The it and telecommunication segment accounts for majority of revenue generated by the global cloud infrastructure-as-a-service (IaaS) market.
- The region of Asia Pacific is forecasted to witness growth at the fastest rate for the global cloud infrastructure-as-a-service (IaaS) market. Massive government support to new and smaller companies is driving the SMEs sector and this directly contributes to the growth of this market.
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A few of the list of the competitors operating in the global cloud infrastructure-as-a-service (IaaS) market are mentioned below:
- Alibaba Cloud
- Amazon Web Services, Inc.
- Cloud Technology Partners, Inc.
- DXC Technology Company
- Google Cloud
- Huawei Technologies Co., Ltd.
- Microsoft Azure
- NTT Limited
- Orange Group
- Rackspace Technology
- Other Market Participants
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Global Cloud Infrastructure-as-a-Service (IaaS) Market
- Networking as a Service
- Application Migration Services
- Storage as a Service
- Security Management Services
- Compute as a Service
- Data Center as a Services
- Disaster Recovery and Backup as a Service
- Private Cloud
- Public Cloud
- Hybrid Cloud
By Organization Size
- Small and Medium Organizations
- Large Organizations
By Pricing Model
- Long term/ Reserved Subscription
- Monthly subscriptions
By Industry Vertical
- Banking, Financial Services and Insurance (BFSI)
- Travel and Hospitality
- Life Sciences and Healthcare
- IT and Telecommunication
- Energy and Utilities
- Food and Beverage
- Media and Entertainment
- North America (U.S., Canada, Mexico, Rest of North America)
- Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
- Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific
- Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
- Latin America (Brazil, Argentina, Rest of Latin America)
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