Hosting Infrastructure Services Market Size Expands as Cloud Adoption Drives Robust Growth in Data Centers
Rising demand for cloud computing, edge computing, and data security fuels growth in the hosting infrastructure services market.
PORTLAND, OREGON, UNITED STATES, November 6, 2023 /EINPresswire.com/ — The hosting infrastructure services market was valued at $14.5 billion in 2021, and is estimated to reach $32.5 billion by 2031, growing at a CAGR of 8.4% from 2022 to 2031.
Hosted services are applications, IT infrastructure components or functions that organizations access from external service providers, typically through an internet connection. Hosted services cover a wide spectrum of offerings, including web hosting, off-site backup and virtual desktops. Cloud services also fall within the hosted services category, although not every hosted service resides in the cloud. A customer, for example, may access an application from a hosting provider’s dedicated server. A hosting infrastructure services provides a combination of IT solutions such as web development, web hosting and email, infrastructure, and application, over the internet. It helps organizations to reduce operational cost that they incur to set up enterprise infrastructure.
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Furthermore, growth in demand for low-cost IT infrastructure and faster data accessibility, increase in number of small & medium businesses is boosting the growth of the global hosting infrastructure services market. In addition, rapid growth of cloud technology is positively impacts growth of the hosting infrastructure services market. However, security concerns over private cloud deployment is hampering the hosting infrastructure services market growth. On the contrary, growth in cloud adoption among SMEs is expected to offer remunerative opportunities for expansion during the hosting infrastructure services market forecast.
On the basis of end user, the energy and utilities segment dominated the hosting infrastructure services market in 2021, and is expected to maintain its dominance in the upcoming years. In the energy and utilities sector, legacy systems relying on human involvement are extensively being replaced by automated systems. In addition, rise in demand for web applications in this sector is increasing adoption of hosting infrastructure services in this segment.
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Surge in need for networking infrastructure fuels demand for hosting infrastructure services in the energy and utilities sector. In addition, unique requirements of petroleum seismic processing energy production and oil & gas data management have boosted the demand for hosting infrastructure that offers specific energy industry expertise. Moreover, hosting infrastructure services reliably support software applications as well as huge data volume behind critical activities, such as well-path planning seismic interpretation, and unconventional systems engineering. Hence the energy & utility industry players are collaborating with hosting infrastructure services providers to improve stability of and networks, which augments growth of the hosting infrastructure services market.
Depending on the region, North America dominated the Hosting Infrastructure Services Market Sharein 2021. North America offers adequate infrastructural development to adopt hosting infrastructure services technology. In addition, leading vendors are focused on the development of novel solutions, strategic alliances, and geographical expansion to strengthen their market presence globally. The BFSI and government industries are expected to dominate the hosting infrastructure services market during the forecast period.
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The key factors that drive the North American market include growth in demand for low-cost cloud infrastructure development and faster network accessibility.
Asia-Pacific is expected to witness highest growth in hosting infrastructure services market, owing to increase in adoption of fast internet connectivity including 4G connections, large population base, rise in competition among telecom& IT service providers, increase in GDP.
The COVID-19 outbreak has high impact on the growth of hosting infrastructure services market, as increasing number of smartphone users, growing adoption of connected devices, and surging e-commerce sector provide lucrative opportunities for the growth of the hosting infrastructure services market. COVID has caused crises in social, economic, and energy areas and medical life worldwide throughout 2020. This crisis had many direct and indirect effects on all areas of society.
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This report gives an in-depth profile of some key market players in the hosting infrastructure services market include AT &T Inc., CoreSite, Google, llc., Hewlett Packard Enterprise (HPE), IBM Corporation, Microsoft Corporation, Equinix Inc., GoDaddy Operating Company llc., Netapp, and Rackspace. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which propel growth of the Hosting Infrastructure Services Industry globally.
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