Asia-Pacific Bare Metal Cloud Market: Rapid Growth and High Potential | At a CAGR of 26.1%
The bare metal cloud market is growing due to its cost efficiency, increased use in the BFSI sector, and the integration of big data and IoT by organizations.
PORTLAND, PORTLAND, OR, UNITED STATES, May 20, 2024 /EINPresswire.com/ — According to a recent report by Allied Market Research titled “Bare Metal Cloud Market,” the market for bare metal cloud services was valued at $5.6 billion in 2021 and is projected to reach $56.6 billion by 2031, growing at a compound annual growth rate (CAGR) of 26.1% from 2022 to 2031.
A bare metal server is a physical computer designed to run dedicated services without interruptions over extended periods. These servers are known for their stability, durability, and reliability. They offer significant benefits, including direct access to the server and full utilization of the underlying hardware. While virtualized computing instances provide flexibility and cost advantages, they also have downsides such as resource competition, known as the “noisy neighbour problem,” and inadequate segregation of edge devices and virtual networks.
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Bare metal cloud addresses these issues by offering customers dedicated physical resources. Additionally, multinational organizations that prioritize efficiency, reliability, compliance, and security are increasingly adopting bare metal cloud solutions. The demand for integrating big data and IoT into business operations is expected to drive substantial profit margins during the forecast period. Furthermore, bare metal cloud provides the security and resource control of a dedicated data center without the extra costs and labor associated with maintaining an on-site legacy data center. Bare metal hardware is pre-built and ready for on-demand provisioning.
The market growth is driven by the increasing use of bare metal cloud services and their expanding applications in the BFSI (Banking, Financial Services, and Insurance) sector. The cost-efficiency of bare metal cloud solutions also fuels market growth. However, the rise of lightweight hypervisors and certain negative aspects of bare metal cloud could limit market expansion. Conversely, growing investments in emerging technologies are expected to create numerous opportunities for market growth during the forecast period.
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Covid-19 scenario:
• The COVID-19 crisis caused a sharp increase in the demand for bare metal cloud services among businesses for load balancing to improve workload allocation, provide multiple database homes on a single server, offer customized networks for high performance, maximize IT resource access & physical security, facilitate high data security, and achieve strategic business initiatives.
• Key market participants worked together and improved bare metal cloud services during the Covid-19 pandemic. For example, in September 2020, Oracle and Rescale’s launched turnkey bare-metal cloud to enterprises. Its platform helps engineers and scientists build, compute, analyze, and scale simulations with high performance computing. Oracle Cloud Infrastructure provides customers with the perfect platform for high performance computing that can be deployed in minutes with maximized control, transparency, and security. Such developments are also expected to contribute to the bare metal cloud market growth in the post-pandemic.
Based on industry vertical, the BFSI segment accounted for the highest share in 2021, holding more than one-fifth of the global bare metal cloud market revenue. On the other hand, the IT and telecom segment is expected to rule the market during the forecast period and the same segment would portray the fastest CAGR of 29.3% from 2022 to 2031, owing to increasing digitalization amongst different industries.
Based on service type, the networking services segment has garnered the major share in 2021, generating more than one-fourth of the global bare metal cloud market revenue, owing to the complete control over user’s hardware, network, and server architecture. It is the best choice for security-oriented applications that need a dedicated compute environment because of company policy, law, or compliance. The compute services segment is expected to dominate the market by 2031 in terms of revenue. The same segment would display the fastest CAGR of 28.8% throughout the forecast period. The rise in need of most secure cloud servers driving the segment’s growth.
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Based on enterprise size, the large enterprises segment held the highest share in 2021, holding more than two-thirds of the global bare metal cloud market revenue, and is projected to maintain its dominance by 2031. On the other hand, the small and medium enterprise (SMEs) segment would showcase the fastest CAGR of 27.8% during the forecast period. The growth of segment is driven by the need of continuing scalability and quick deployment, to avoid capital expenditures for the subsequent equipment lifestyle.
By region, North America accounted for the highest share in 2021, holding nearly one-third of the global bare metal cloud market revenue. On the other hand, Asia-Pacific is expected to rule the market during the forecast period and would portray the fastest CAGR of 28.3% from 2022 to 2031, owing to rapid increase in adoption of new technology in every sector across the region.
Leading Market Players-
• LUMEN TECHNOLOGIES
• Dell Technologies Inc.
• Google LLC
• Oracle Corporation
• Alibaba Cloud
• RACKSPACE TECHNOLOGY
• Internap Holding LLC
• Amazon Web Services, Inc.
• International Business Machines Corporation
• Microsoft Corporation
The report analyzes these key players in the global bare metal cloud market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report helps determine the business performance, operating segments, developments, and product portfolios of every market player.
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