Infrastructure as a Service (IaaS) Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Infrastructure as a Service Market
The Infrastructure as a Service market size was valued at USD 130.08 billion in 2023, and the market is now projected to grow from USD 156.93 billion in 2024 to USD 738.11 billion by 2032, exhibiting a CAGR of 21.4% during the forecast period of 2023-2030.
The outbreak of the COVID-19 pandemic has boosted market boom due to elevated adoption of cloud computing services. Cloud computing has played a key position in permitting businesses and governments to use answers to crises and maintain continuity quickly. The developing quantity of personnel working from home and the usage of conferencing and collaboration offerings lines lower back-stop help services and will increase traffic on the networks that join customers to those offerings. Only carriers with robust and ample structure that promises an uninterrupted client revel in can control the multiplied load.
Organizations around the world are focused on developing a cellular team of workers that lets in employees to access information remotely thru net offerings. This calls for virtualized IT components which includes servers, storage, and networks. With standard IT infrastructure installations, Infrastructure as a service offers faster statistics get entry to no matter facts center location. In addition, IaaS minimizes preliminary funding costs with the aid of doing away with the want for onsite information centres and ongoing service and maintenance prices. This results in Infrastructure as a Service market growth.
Businesses of the future will require dispensed cloud infrastructure packages and databases to fulfill present day workflows and their necessities. Distributed cloud computing has a geographically dispersed infrastructure that runs offerings normally at the edge of the network, supporting agencies lessen latency, community congestion, and the chance of information loss.
Comprehensive Analysis of Infrastructure as a Service Market
The Infrastructure as a Service market is rising at an exponential charge due to its marketplace segmentation. Based on the deployment, the market is segmented into private, hybrid and public. On the basis of service, the market is categorized into storage, networking, computing, and others. On the basis of industry, the market is categorized into retail & e-commerce, IT & telecom, healthcare, BFSI, manufacturing, education, and others.
North America has the largest Infrastructure as a Service market share. This location is taken into consideration certainly one of the largest markets for IaaS. North America has the presence of numerous principal gamers, making it a moneymaking hub for marketplace innovation. Several groups, consisting of Amazon Web Services, Inc., IBM Corporation, VMware, Inc., and others, offer a wide range of services to host, control, and hold all forms of IT infrastructure in a personal or public statistics centre. The facts centre may be accessed thru the Internet and from more than one places.
The top players in the market play a crucial role in the Infrastructure as a Service industry assuring industrial prospectus growth and setting market standards. These players include, Microsoft Azure (U.S.), Linode (Akamai) (U.S.), Google Cloud Platform (GCP) (California), Alibaba Cloud (China), Oracle Cloud (U.S.), IBM Cloud (Kyndryl) (U.S.), Amazon Web Services (AWS) (U.S.), Tencent Cloud (China), OVHCloud (France), and DigitalOcean (U.S.).
In December 2023, ZKTeco announced a partnership with Amazon Web Services (AWS) to release the revolutionary Minerva IoT platform and improve its cloud abilties. The aim of this collaboration is to leverage AWS's robust cloud infrastructure to expand a stable, scalable IoT platform with advanced talents.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 21.4% from 2024 to 2032
Unit Value (USD billion)
Segmentation By Deployment
Public
Private
Hybrid
By Service
Computing
Networking
Storage
Others
By Industry
BFSI
Retail & E-commerce
Healthcare
Education
Manufacturing
IT & Telecom
Others
By Region
North America (By Deployment, By Service, By Industry, and By Country)
- U.S.
- Canada
- Mexico
South America (By Deployment, By Service, By Industry, and By Country)
- Brazil
- Argentina
- Rest of South America
Europe (By Deployment, By Service, By Industry, and By Country)
- U.K.
- Germany
- France
- Italy
- Spain
- Russia
- Benelux
- Nordics
- Rest of Europe
Middle East & Africa (By Deployment, By Service, By Industry, and By Country)
- Turkey
- Israel
- GCC
- South Africa
- North Africa
- Rest of Middle East & Africa
Asia Pacific (By Deployment, By Service, By Industry, and By Country)
- China
- India
- Japan
- South Korea
- ASEAN
- Oceania
- Rest of Asia Pacific
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