Global Infrastructure as a Service (IaaS) Market 2023: Sector is Projected to Reach $450.52 Billion by 2028 at a CAGR of 24.3%

DUBLIN, May 8, 2023 /PRNewswire/ -- The "Global Infrastructure as a Service (IaaS) Market Report and Forecast 2023-2028" report has been added to  ResearchAndMarkets.com's offering.

The global infrastructure as a service (IaaS) market attained a value of USD 118.43 billion in 2022. Aided by the increasing adoption of cloud computing and the growing demand for cost-effective IT solutions, the market is projected to further grow at a CAGR of 24.3% between 2023 and 2028 to reach a value of USD 450.52 billion by 2028.

Infrastructure as a Service (IaaS) refers to a cloud computing service model that provides virtualised computing resources over the internet. IaaS allows organisations to outsource their IT infrastructure, such as servers, storage, and networking, to a cloud service provider, eliminating the need to purchase, manage, and maintain physical hardware. This service model offers several benefits, including flexibility, scalability, cost-efficiency, and increased security.

The global infrastructure as a service (IaaS) market growth is primarily driven by the increasing adoption of cloud computing across various industries, such as IT and telecommunications, healthcare, retail, and finance. Moreover, the rising need for remote access to IT infrastructure due to the growing trend of remote work and the global digitalisation drive is further fuelling the growth of the IaaS market.

Another significant factor propelling the infrastructure as a service (IaaS) market expansion is the increasing demand for cost-effective IT solutions. By outsourcing their IT infrastructure to IaaS providers, organisations can reduce their capital expenditures and operational costs, as they only pay for the resources they use. This pay-as-you-go pricing model allows businesses to optimise their IT spending and allocate resources more efficiently.

Furthermore, the infrastructure as a service (IaaS) market is witnessing a surge in demand due to the growing need for data storage and processing solutions.

The increasing volume of data generated by businesses, governments, and individuals has led to a heightened demand for efficient and reliable data storage and management services. IaaS providers offer scalable and secure storage solutions that can be easily integrated with other cloud services, enabling organisations to store, manage, and analyse large amounts of data more effectively. This, in turn, is increasing the infrastructure as a service (IaaS) market demand.

Market Segmentation

The market can be divided based on component, company size, service, application, and region.

Market Breakup by Component

• Private Cloud IaaS Implementation Model
• Public Cloud IaaS Implementation Model
• Hybrid Cloud IaaS Implementation Model

Market Breakup by Company Size

• Large Enterprises
• Small and Medium Enterprises

Market Breakup by Service

• Disaster Recovery as a Service (DRaaS)
• Compute as a Service (CaaS)
• Storage as a Service (STaaS)
• Data Centre as a Service (DCaaS)
• Desktop as a Service (DaaS)
• Application Hosting as a Service

Market Breakup by Application

• BFSI
• IT and Telecom
• Media and Entertainment
• Healthcare
• Manufacturing
• Transportation
• Consumer Goods
• Retail
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global infrastructure as a service (IaaS) companies. Some of the major key players explored in the report are as follows:

• Fujitsu Limited
• Oracle Corporation
• IBM Corporation
• Microsoft Corporation
• Cloudflare, Inc
• Lumen Technologies, Inc
• DXC Technology Company
• Virtustream LLC
• Amazon Web Services, Inc
• VMware, Inc
• NTT Communications Corporation
• Google LLC

For more information about this report visit https://www.researchandmarkets.com/r/bd4nju

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SOURCE Research and Markets