REDDING,
Calif., July 3, 2024 /PRNewswire/ -- According to
a new market research report titled,
'Infrastructure-as-a-Service Market by Offering
(Compute, Storage, Others), Deployment (Public, Private, Hybrid),
Organization Size, Application (Hosting, Others), Sector (IT &
Telecommunications, BFSI, Others), and Geography - Global Forecast
to 2031,' the
infrastructure-as-a-service market is projected to reach
$512.4 billion by 2031,
at a CAGR of 23.1% from 2024–2031.
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In cloud computing, there are three main categories of services,
namely, Infrastructure-as-a-Service (IaaS), Platform-as-a-Service
(PaaS), and Software-as-a-Service (SaaS). Infrastructure as a
service (IaaS) is a form of cloud computing that provides access to
cloud infrastructure resources from cloud service providers (CSPs),
including servers, virtual machines, networking resources, and
storage. Organizations use the IaaS to migrate IT infrastructure to
the cloud. It helps to reduce the maintenance of on-premises data
centers, save money on hardware costs, and gain real-time business
insights. It also helps to provision new applications and adopt
advanced technologies such as AI, ML, and big data.
Enterprises are adopting the IaaS model to eliminate the
complexity and costs associated with building and maintaining
physical infrastructure in an on-premises data center. The CSPs are
responsible for managing and maintaining the infrastructure. The
IaaS model is a pay-as-you-go basis that only allows for a
particular resource that the consumer uses. IaaS gives flexibility
to easily increase or decrease resources, allowing consumers to pay
less when needed or instantly provision and scale out resources to
meet new demands.
The infrastructure-as-a-service market is segmented by offering
(compute, network, storage, other offerings), deployment mode
(public cloud, private cloud, hybrid cloud), organization size
(large enterprises, small & medium-sized enterprises),
application (testing and development, hosting, storage, backup, and
recovery, high performance computing, other applications), sector
(IT & telecommunications, BFSI, healthcare, retail &
e-commerce, government & defense, manufacturing, transportation
& logistics, other sectors). The study also evaluates industry
competitors and analyzes the market at the regional and country
levels.
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Based on offering, the infrastructure-as-a-service market
is segmented into compute, network, storage, and other offerings.
In 2024, the compute segment is expected to account for the largest
share of above 42% of the infrastructure-as-a-service
market. The large market share of this segment is attributed to the
increasing use of virtualized computing resources by SMEs due to
limited IT budgets and increasing digital transformation by various
sectors to transfer their workload to the cloud.
Based on deployment mode, the infrastructure-as-a-service
market is segmented into public cloud, private cloud, and hybrid
cloud. In 2024, the public cloud segment is expected to account for
the largest share of above 50% of the
infrastructure-as-a-service market. The large market share of this
segment is attributed to the increasing use of the public cloud by
small and medium-sized enterprises due lower cost of
subscription-based or pay-per-usage pricing models in the public
cloud.
Based on organization size, the
infrastructure-as-a-service market is segmented into large
enterprises and small & medium-sized enterprises. In 2024, the
large enterprises segment is expected to account for the larger
share of the infrastructure-as-a-service market. The large market
share of this segment is attributed to the growing adoption of
advanced technologies such as cloud computing, AI, and blockchain,
and the rapid migration of IT infrastructure in the cloud.
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Based on application, the infrastructure-as-a-service
market is segmented into testing and development, hosting, storage,
backup and recovery, high performance computing, and other
applications. In 2024, the storage, backup, and recovery segment is
expected to account for the largest share of around 38% of
the infrastructure-as-a-service market. The large market share of
this segment is attributed to the increasing use of cloud storage
applications in large enterprises due to the increasing volume of
data and growing demand across SMEs to avoid the complexity of
storage management, the lack of skilled professionals, and reduce
cost.
Based on sector, the infrastructure-as-a-service market
is segmented into IT & telecommunications, BFSI, healthcare,
retail & e-commerce, government & defense, manufacturing,
transportation & logistics, and other sectors. In 2024, the IT
& telecommunications segment is expected to account for the
largest share of around 32% of the
infrastructure-as-a-service market. The large market share of this
segment is attributed to the increasing adoption of advanced
technologies, including cloud computing, and the increasing use of
the IaaS model to reduce data centers and increase storage
capacity. Telecommunications operators are migrating to cloud
infrastructure to decrease operational costs and increase
deployment times. For instance, Deutsche Telekom AG (Germany) is using Amazon Web Services, Inc.
(U.S.) and Microsoft Corporation (U.S.) cloud infrastructure to
reduce its data centers from 89 to 13 across the globe and increase
computing and storage capacity by around 25%.
Based on geography, the infrastructure-as-a-service
market is segmented into North
America, Europe,
Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, North America is expected to account for the
largest share of around 46% of the
infrastructure-as-a-service market. The market growth in
North America is driven by the
increasing government initiatives for the implementation of cloud
computing technologies, the presence of major technology companies
in the region, the high acceptance & extensive adoption of
cutting-edge technologies in the region, and growing cloud adoption
to manage security, infrastructure, network, business continuity,
mobility, and regulatory standards within the cloud infrastructure.
Companies are increasingly adopting cloud infrastructure to improve
business productivity and decision-making capabilities by migrating
their on-premise workload to the cloud. For instance, in
April 2022, Amazon Web Services, Inc.
(U.S.) extended its partnership with Boeing (U.S.), the leading
manufacturer of airplanes, rotorcraft, rockets, satellites, and
telecommunications equipment, to migrate Boeing's applications from
on-premises data centers to AWS cloud to strengthen their
engineering and manufacturing processes.
The key players operating in the
infrastructure-as-a-service market are Amazon Web Services, Inc.
(U.S.), Microsoft Corporation (U.S.), Alibaba Cloud (China), Google LLC (U.S.), Huawei Technologies
Co., Ltd. (China), Oracle
Corporation (U.S.), IBM Corporation (U.S.), Cisco Systems, Inc.
(U.S.), SAP SE (Germany), VMware,
Inc. (U.S.), Rackspace Technology, Inc. (U.S.), DigitalOcean LLC
(U.S.), Hewlett Packard Enterprise Company (U.S.), Tencent Cloud (China), Linode LLC (U.S.), NTT Communications
Corporation (Japan), Utho
(India), and Vultr (U.S.).
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Scope of the Report:
Infrastructure-as-a-Service Market Assessment—by
Offering
- Storage
- Compute
- Network
- Other Offerings
Infrastructure-as-a-Service Market Assessment—by Deployment
Mode
- Public Cloud
- Private Cloud
- Hybrid Cloud
Infrastructure-as-a-Service Market Assessment—by Organization
Size
- Large Enterprises
- Small & Medium-sized Enterprises
Infrastructure-as-a-Service Market Assessment—by
Application
- Storage, Backup, and Recovery
- High Performance Computing
- Hosting
- Testing and Development
- Other Applications
Infrastructure-as-a-Service Market Assessment—by
Sector
- IT & Telecommunications
- Retail & E-commerce
- BFSI
- Manufacturing
- Healthcare
- Transportation & Logistics
- Government & Defense
- Other Sectors
Infrastructure-as-a-Service Market Assessment—by
Geography
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- Europe
- U.K.
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Latin America
- Middle East & Africa
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