BANGALORE, India, June 26, 2020 /PRNewswire/ -- The infrastructure as a service (IaaS) market size was valued at USD 38.94 Billion in 2019 and is projected to reach USD 201.83 Billion by 2027, growing at a CAGR of 23.2% from 2020 to 2027.
Infrastructure as a service (IaaS) is a virtual computing infrastructure, provisioned, and managed over the internet. IaaS lets you allocate your computer, network, storage, and security resources on demand. It enables end-users to scale and shrink resources on an as-needed basis, reducing the need for high, up-front capital expenditure.
The IaaS market size is expected to see a growth in the coming years, due to the fact that IaaS service providers offer a wide range of services with advanced functionalities on existing network components.
Additionally, IaaS services provide comprehensive monitoring, log access, load balancing and clustering, protection, and storage redundancy features such as replication, backup, and recovery, which further supports the growth of the IaaS market size.
Government initiatives to encourage internet adoption and other advanced technologies in their economies foster the growth of IaaS market size during the forecast period.
The increase in demand for hybrid cloud services is projected to drive the growth of the IaaS market size. By utilizing hybrid cloud systems, it is expected that different organizations will avoid assigning all their data to a single location in one network. Hybrid cloud architecture reduces the risks associated with data theft or loss compared to other Software such as the public cloud in case of any unwanted situation.
It is anticipated that simplifying disaster recovery with cloud adoption would fuel the growth of the IaaS market size.
Due to the growing adoption of cloud-based services in the industry, the IT and telecommunications sectors are expected to experience significant growth. This industry is seen as the primary vertical that generates huge personal, financial, and health-based information. Customer-based organizations in the banking financial services and insurance sector generate vast amounts of sensitive business and financial data that look to the convenience of security and storage for smooth business continuity.
Based on the region, the Asia Pacific is expected to register the highest growth rate during the forecast period. Increasing internet penetration coupled with developing technology in various economies, including China, India, and South Korea, can be attributed to high growth in this region.
Thanks to the existence of massive IT infrastructure, the North America IaaS market held the largest IaaS market share. The market dominance in this region can be attributed to advances in software technology and the introduction of numerous cloud-based solutions.
TOP COMPANIES IN THE IaaS MARKET
Amazon is projected to dominate the global IaaS market. It accounts for almost half the global IaaS market share. By utilizing innovative technologies and acquisitions, it continues to expand aggressively into innovative new markets. Amazon is closely followed by Microsoft and Alibaba.
Microsoft is delivering its IaaS capabilities through its innovative and open offering of Microsoft Azure, which continues to strengthen its position as a leading IaaS provider.
On the other hand, Alibaba has developed an ecosystem that consists of managed service providers (MSPs) and independent vendors of software (ISV). Its success is driven by aggressive investment in R&D.
Some of the other major companies in the IaaS market include Dell EMC, Google LLC, International Business Machines Corporation, Oracle Corporation, Rackspace Hosting, Inc., Red Hat, Inc., Redcentricplc., and Hewlett Packard Enterprise.
This report provides a complete quantitative data and qualitative analysis on the global market for IaaS & PaaS. Market size is analyzed by country, product type, application, and competitors. Expanded coverage includes additional end-user industry breakdowns and in-depth producer profiles.
● Global Iaas Hosting Infrastructure Services Market Report
Organizations are widely implementing IaaS/Hosting infrastructure services due to the rising volume of business and financial data and other critical information among the businesses in various verticals.
Flexibility to run critical business applications & robust and reliable IT infrastructures are the factors driving the growth of IaaS Hosting infrastructure services market size.
The COVID -19 pandemic has spread to nearly 100 countries across the globe since the outbreak in December 2019. The global impacts of the 2019 coronavirus disease (COVID- 19) are already starting to be felt and will affect the IaaS in Chemical Market size significantly in 2020.
● Cloud Infrastructure as a Service Software Market Report
Cloud IaaS can be defined as a standardized, highly automated offering, where compute resources, complemented by storage and networking capabilities, are owned by a service provider and offered to the customer on demand. The resources are scalable and elastic in near real-time and metered by use.
This report analyses the impact of Coronavirus COVID-19 on the Cloud Infrastructure as a Service Software industry. The report also includes a country-wise and region-wise market size for the period 2015-2026. It also includes market size and forecast by each application segment in terms of revenue for the period 2015-2026.
The global Software as a Service (SaaS) market size is projected to reach USD 307.3 Billion by 2026, from USD 158.2 Billion in 2020, at a CAGR of 11.7% during 2020-2026.
The report offers an exhaustive geographical analysis of the global Software as a Service (SaaS) market, covering North America, Europe, China, Japan, Southeast Asia, India, and Central & South America regions. This report also analyses the impact of Coronavirus COVID-19 on the Software as a Service (SaaS) industry.
"The global market size for cloud computing in 2018 was USD 36,700 Million and is anticipated to achieve USD 28,5300 Million by the end of 2025, with a CAGR of 29.2% in 2019-2025".
Factors such as growing digital transformation among industries, rising penetration of internet and mobile devices across the world, and an increase in consumption of big data are the primary drivers for the growth of Cloud computing market size.
Furthermore, the rise in adoption of Internet of Things (IoT), edge computing, 5G, use of real-time analytics enabled by Artificial Intelligence (AI) and Machine Learning (ML) is likely to boost the Cloud Computing market size during the forecast period.
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