Cloud Infrastructure Services Market
Growth Factors of Cloud Infrastructure Services Market
The cloud infrastructure services market size was reached at a value of USD 128.13 billion in 2023, and the market is now projected to grow from USD 142.35 billion in 2024 to USD 396.01 billion by 2032, exhibiting a CAGR of 13.6% during the forecast period of 2023-2032.
The COVID-19 pandemic posed significant challenges on the cloud infrastructure services market growth. Due to lack of industrial operations and a halt in commercial campaigns, implementation of government policies, investments in projects and other initiatives due to covid pandemic., which lead a decline in the cloud infrastructure services market expansion. The COVID-19 pandemic disrupted demand patterns, significantly impacting the cloud infrastructure services merchandisers business.
Growing customer need for edge computing is driving market expansion. Approximately thirty percent of businesses are willing to allocate their IT budgets to edge computing, according to the Strategies for Success at the Edge survey. Decentralized infrastructure is becoming more and more necessary as edge computing becomes more popular since it brings processing capacity closer to data sources. Cloud infrastructure services can benefit from this trend by creating edge-specific solutions. In order to enable real-time responsiveness, edge computing leverages locally generated data. This not only produces novel user experiences but also monitors sensitive data and lowers the cost of data transmission to the cloud.
As cloud resources become more expensive, industry participants are coming up with ways to reduce unnecessary cloud usage and save money. Effective workload management is made possible by multi- or hybrid-cloud solutions, which guarantee that each service or application is hosted in the best possible cloud environment. This method gives IT infrastructure management a strategic framework, increases flexibility, and lowers risks.
Comprehensive Analysis of Cloud Infrastructure Services Market
The cloud infrastructure services market and software industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the software benefit management industry. These segmentations are methodically segregated by deployment, by service type, by enterprise and by industry. The deployment segmentation includes, Public Cloud, Private Cloud, and Hybrid Cloud, by service type segmentation includes Compute as a Service, Storage as a Service, Network as a Service, and Others, by enterprise type segmentation include Large Enterprises and SMEs. However, the industry segmentation includes BFSI, IT & Telecom, Retail, Healthcare, Government, and Others.
The North America region lead the cloud infrastructure services market by benefitting a market size of USD 52.49 billion in 2023 due to growing consumers want for edge computing services and growth of cloud infrastructure.
The top players in the market play a crucial role in the cloud infrastructure services industry assuring industrial prospectus growth and setting market standards. These players include, Google (U.S.), Microsoft Corporation (U.S.), IBM Corporation (U.S.), Oracle Corporation (U.S.), Alibaba Cloud (U.S.), Amazon Web Services (U.S.), VMware (U.S.), NEC Corporation (U.S.), Fujitsu Limited (U.S.), DXC Technology (U.S.) these market players provide a level-playing competitive landscape.
In March 2024, In an effort to speed up the modernization of legacy applications on the AWS cloud, Fujitsu Limited expanded its collaboration with the cloud provider.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 13.6% from 2024 to 2032
Unit Value (USD Billion)
Segmentation By Deployment
- Public Cloud
- Private Cloud
- Hybrid Cloud
By Service Type
- Compute as a Service
- Storage as a Service
- Network as a Service
- Others (Managed Hosting, Desktop as a Service)
By Enterprise Type
- Large Enterprises
- SMEs
By Industry
- BFSI
- IT & Telecom
- Retail
- Healthcare
- Government
- Others (Energy & Utility)
By Region
- North America (By Deployment, Service Type, Enterprise Type Industry and Country)
- South America (By Deployment, Service Type, Enterprise Type Industry and Country)
- Brazil
- Argentina
- Rest of South America
- Europe (By Deployment, Service Type, Enterprise Type Industry and Country)
- U.K.
- Germany
- France
- Italy
- Spain
- Russia
- Benelux
- Nordics
- Rest of Europe
- Middle East & Africa (By Deployment, Service Type, Enterprise Type Industry and Country)
- Turkey
- Israel
- GCC
- North Africa
- South Africa
- Rest of the Middle East & Africa
- Asia Pacific (By Deployment, Service Type, Enterprise Type Industry and Country)
- China
- Japan
- India
- South Korea
- ASEAN
- Oceania
- Rest of Asia Pacific
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