According to the report, the global Infrastructure-as-a-Service (IaaS) market is projected to expanding at a CAGR of 28.50% during the forecast period. Rise in the number of data centers across the globe is likely to boost the Infrastructure-as-a-service (IaaS) market. Increase in the rate of adoption of hybrid cloud system in major industries, including healthcare, manufacturing, and e-commerce, is anticipated to boost the infrastructure-as-a-service (IaaS) market.
Moreover, increase in small- and medium-scale enterprises where data centers are available is also fueling the infrastructure-as-a service (IaaS) market. The growing digitization across the globe where volume of data is high is estimated to propel the infrastructure-as-a service (IaaS) market. Rise in need for data centers from the IT industry is creating an opportunity for the infrastructure-as-a-service (IaaS) market. Major concerns regarding privacy or data protection, government regulations regarding data security, and high investments for data centers are key factors that are challenging for infrastructure service market
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Expansion of Infrastructure-as-a-Service (IaaS) Market
Major industries are adopting multi-cloud implementations and hybrid cloud deployment as part of their cloud strategy. Networking is at the foundation of this digital transformation, which is likely to enhance the use of infrastructure services. In September 2021, Google Inc. expanded network services across four new places, including Chile, Germany, Saudi Arabia, and Israel. The company announced six new subsea cables, which connect different parts of the world. In June 2021, NTT Communications Corporation the ICT solutions and international communications business within the NTT Group, expanded the footprint of Flexible Interconnect service to overseas markets. Holding the global data centers and network facilities operated Flexible Interconnect delivers private and secure connections to various cloud service providers as well as interconnection between NTT Group’s global data centers. Such expansion of infrastructure service providers across the globe is likely to boost the market.
Based on solution, the disaster recovery as a service (DRaaS) segment dominated the global infrastructure service market, in terms of revenue, in 2020. DRaaS is a cloud computing service model that enables users to back up their data and IT infrastructure in a third-party cloud computing environment. Followed by DRaaS, the network management segment also accounted for a notable share of the market, in terms of revenue, in 2020.
In terms of deployment type, the global infrastructure-as-a-service (IaaS) market has been segmented into public cloud, private cloud, and hybrid cloud. The hybrid cloud segment dominated the global infrastructure-as-a-service (IaaS) market, in terms of revenue, in 2020. A hybrid cloud setup uses traditional systems as well as the latest cloud technology, without a commitment to a vendor.
Regional Analysis of Infrastructure-as-a-Service (IaaS) Market
In terms of region, the global infrastructure-as-a-service (IaaS) market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific and Europe held a major share of the global infrastructure-as-a-service market, in terms of revenue, in 2020. Surge in the number of data centers across Asia Pacific is likely to boost the market across the region. Major IT organizations are expanding their cloud services across Asia Pacific, which, in turn, is fueling the market. Major industries across Europe are adopting hybrid cloud solution, which is anticipated to fuel the infrastructure-as-a-service (IaaS) market in the region.
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Infrastructure-as-a-Service (IaaS) Market Players
Prominent players operating in the global infrastructure-as-a-service (IaaS) market include Fujitsu Ltd., NTT Communications Corp., Rackspace, Inc., IBM Corporation, Dimension Data Plc, Verizon Communications, Inc., Google, Inc., Hewlett-Packard Development Company, VMware, Inc., Datapipe, Inc., Microsoft Corporation, Oracle Corporation, and Amazon Web Services, Inc.
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