Global Cloud Network Infrastructure Market Key Insights
During the forecast period of 2022-2031, the global cloud network infrastructure market generated a revenue of ~USD 9.0 billion in the year 2021, by expanding at a CAGR of ~28%. Major key factors propelling the growth of the cloud network infrastructure market worldwide are the rising ICT (information and communication technology) investment as well as declining business organization operational costs.
Market Definition of Cloud Network Infrastructure
The term “cloud infrastructure service” describes a virtual infrastructure that is offered or accessed over a network or the internet. Typically, this refers to goods or services that are offered on demand and are provided using the infrastructure as a service delivery paradigm (IaaS). The adoption of cloud and analytics technology by the government is predicted to increase, which will fuel demand for cloud infrastructure services.
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Global Cloud Network Infrastructure Market: Growth Drivers
The introduction of numerous cutting-edge cloud network infrastructure products by the leading market players is largely responsible for the expansion of the global cloud network infrastructure. For instance, to accelerate businesses’ use of hybrid clouds, Cisco Systems, Inc., on March 23, 2022, unveiled new cloud hardware, software, and operating models.
The market is expected to expand further as a result of the major companies’ increased use of strategic marketing alliances, new product innovations, and acquisitions to strengthen their market positions and gain an advantage over competitors. For instance, Oracle Cloud Infrastructure (OCI) and VMware joined on April 20, 2022, to supply Oracle Cloud VMware Solutions. Oracle Corporation introduced three new E4 Dense Compute forms for Oracle Cloud VMware Solution with AMD EPYC processors available in 32-, 64-, and 128-core configurations to give a more affordable route to the public cloud.
The global cloud network infrastructure market is also estimated to grow majorly on account of the following:
- An increase in the use of cloud services by businesses
- Operational cost reduction via cloud network infrastructure
- Expanding digital economy
- Expanding technologies such as artificial intelligence (AI) and machine learning
Global Cloud Network Infrastructure Market: Restraining Factor
The main issues limiting market expansion are high installation costs and a lack of employees to operate the infrastructure.
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Global Cloud Network Infrastructure Market Segmentation
- By End-Users (Healthcare, Government, Business & Consulting Services, It & Telecommunication, Banking, Manufacturing, and Others)
The global market for cloud network infrastructure is expected to experience the highest growth in the IT and telecommunications category by the end of 2031. Increased demand for cloud-based services and faster adoption of these services by IT and telecommunications companies are both factors in the segment’s growth. Additionally, modern businesses require high levels of mobility and scalability, both of which can be attained using cloud network infrastructure. The worldwide telecom services expenditure in 2020 was USD 1,555 billion.
- By Type (Software, Hardware, and Services)
- By Region
As more businesses are choosing cloud network infrastructure to save their data center costs, the North American region is predicted to hold the largest market share in the global market for cloud network infrastructure over the forecast period. Additionally, due to the government’s cloud-friendly regulations and laws, the North American region is anticipated to experience significant expansion in the global market for cloud network infrastructure throughout the course of the forecast period. U.S. cloud spending is anticipated to increase by 28% by the end of 2022, reaching USD 91 billion.
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The market research report on global cloud network infrastructure 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 Cloud Network Infrastructure Market
Some of the key players in the global cloud network infrastructure market are IBM Corporation, Dell Technologies, Inc., NetApp, Inc., Microsoft Corporation, Oracle Corporation, Cisco Systems, Inc., Intel Corporation, Amazon Web Services, Inc., Salesforce, Inc., Alphabet Inc., and others.
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