Global Infrastructure-as-a-Service (IaaS) Market Key Insights
During the forecast period of 2023-2035, the global infrastructure-as-a-service (IaaS) market is expected to reach an estimated value of ~USD 600.0 billion by 2035 by expanding at a CAGR of ~28%. The market further generated revenue of ~USD 55.0 billion in the year 2022. Major key factors propelling the growth of the infrastructure-as-a-service (IaaS) market are the higher demand for data management and data quality by enterprises.
It is necessary to minimize the number of errors and to offer desired control over them. Hence, infrastructure-as-a-service (IaaS) becomes very vital since it comprises all the necessary features and numerous enterprises are willing to spend or have already spent a large sum on infrastructure-as-a-service.
Market Definition of Infrastructure-as-a-Service (IaaS)
Infrastructure-as-a-service (IaaS) is a part of cloud computing that is known to facilitate virtualized computing resources via the internet. It is one of the major categories of cloud computing services that also includes software as a service (SaaS) and platform as a service (PaaS). It is generally located in an on-premises data center that comprises storage, servers, networking hardware, and others. To accompany infrastructure-as-a-service (IaaS), service providers also offer monitoring, load balancing, log access, clustering, detailed billing, security, and others.
Global Infrastructure-as-a-Service (IaaS) Market: Growth Drivers
The growth of the global infrastructure-as-a-service (IaaS) market can majorly be attributed to the increasing data traffic on the cloud, since the internet is being more prevalent and people and countless enterprises are using cloud services. Therefore, a demand to tackle this problem emerges in the market, and the storage segment of IaaS has the potential to fulfill this demand. For instance, in 2018, approximately 20 exabytes of data were estimated to be generated per month. On the other hand, the remarkable surge in digitalization across the globe to offer multiple services and help businesses grow rapidly is also estimated to expand the market size over the forecast period. For instance, in 2021, nearly USD 1 trillion was spent on global digital transformation.
The global infrastructure-as-a-service (IaaS) market is also estimated to grow majorly on account of the following:
- Increasing adoption of IaaS solutions
- Surging demand for cloud computing services
- Escalation volume of digital data
- Decline in the data quality and poor management
- Growing penetration of mobile phones in the workspace
Global Infrastructure-as-a-Service (IaaS) Market: Restraining Factor
Infrastructure-as-a-service offers limited customization and is dependent on broadband. Additionally, the possibility of data breaches triggering the concern associated with data security is also expected to be the major hindrance to the growth of the global infrastructure-as-a-service (IaaS) market during the forecast period.
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Global Infrastructure-as-a-Service (IaaS) Market Segmentation
- By Deployment Type (Public Cloud IaaS, Private Cloud IaaS, and Hybrid Cloud IaaS)
The hybrid cloud IaaS segment, amongst all the other segments, is anticipated to garner the largest revenue by the end of 2035. The growth of the segment can be attributed to the capability of the hybrid cloud to merge the features of the public and private clouds to provide integrated services. In 2021, the hybrid cloud segment was stated to exhibit a total revenue of nearly USD 80 billion.
- By Component (DRaaS, STaaS, NaaS, HPCaaS, and Others)
- By Enterprise Size (Small & Medium-sized Enterprises, Large Enterprises)
- By End-User (BFSI, IT & Telecommunications, Media & Entertainment, Manufacturing, Healthcare, Retail & E-commerce, and Others)
- By Region
The North America infrastructure-as-a-service (IaaS) market is anticipated to hold the largest market share by the end of 2035 among the market in all the other regions. The surge in concern for data quality and management owing to the skyrocketing data traffic and the growing number of people with access to the internet is estimated to hike the market’s growth in the region over the forecast period. It has been observed that nearly USD 3 trillion are cost by data quality issues in the United States every year.
The market research report on global infrastructure-as-a-service (IaaS) also includes the market size, market revenue, Y-o-Y growth, and key player analysis applicable for the market in North America (U.S., and Canada), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), and Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa).
Key Market Players Featured in the Global Infrastructure-as-a-Service (IaaS) Market
Some of the key players of the global infrastructure-as-a-service (IaaS) market are VMware, Inc., Nutanix, Inc., Cisco Systems, Inc., Microsoft Corporation, Dell Inc., Amazon Web Services, Inc., International Business Machines Corporation, Oracle Corporation, Hewlett Packard Enterprise Company, VMware, Inc., and others.
