IaaS Market Expected to Reach USD 481.8 Billion by 2030 | Top Players such as – Alibaba, AWS and Dell
Reducing physical infrastructure to save IT cost and technological advancements in Edge computing are the main growth factors driving the IaaS market
PORTLAND, PORTLAND, OR, UNITED STATE, March 23, 2023 /EINPresswire.com/ — Allied Market Research published a new report, titled, “IaaS Market Expected to Reach USD 481.8 Billion by 2030 | Top Players such as – Alibaba, AWS and Dell.” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The global infrastructure as a service (iaas) market was valued at USD 51.3 billion in 2020, and is projected to reach USD 481.8 billion by 2030, growing at a CAGR of 25.3% from 2021 to 2030.
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Rise in demand for low-cost IT infrastructure, surge in cloud adoption across several industry verticals, and the requirement for rapid data accessibility drive the growth of the global infrastructure as a service market. However, concerns of security over private cloud deployment restrain the market growth. On the other hand, surge in need to manage data throughout its lifespan, from storage to archiving, is expected to present opportunities during the forecast period.
The global infrastructure as a service market is segmented on the basis of component type, deployment mode, enterprise size, industry vertical, and region. By component, it is divided into storage, network, compute, and others. By deployment model, it is divided into private, public, and hybrid models. According to enterprise size, it is categorized into small & medium enterprises (SMEs) and large enterprises. As per industry vertical, it is divided into banking, financial services and insurance (BFSI), government & education, healthcare, telecommunication & IT, retail, manufacturing, media & entertainment, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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Based on industry vertical, the telecom and IT segment accounted for the highest market share in 2020, contributing to nearly one-fifths of the global infrastructure as a service market. This is attributed to complex network and computing requirements. However, the government and education segment is estimated to manifest the largest CAGR of 26.7% from 2021 to 2030. This is due to rise in investments by government and public sector companies.
Based on deployment model, the hybrid segment held the highest market share in 2020, accounting for more than two-thirds of the global infrastructure as a service market, and is projected to continue its leadership status during the forecast period. Moreover, this segment is projected to witness the highest CAGR of 25.5% from 2021 to 2030.
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Based on region, North America contributed to the largest market share in terms of revenue in 2020, accounting for nearly two-fifths of the global infrastructure as a service industry, and is expected to maintain its dominance in terms of revenue by 2030. This is due to presence of huge number of specialized IaaS vendors in the region. However, Asia-Pacific is projected to portray the fastest CAGR of 27.5% during the forecast period, owing to ongoing digital transformation in the region.
Key players that operate in the infrastructure as a service market include Alibaba Group Holding Limited, Amazon Web Services, inc., Dell Technologies, Inc., Google Corporation, Hewlett Packard Enterprise Development LP, IBM Corporation, Microsoft Corporation, Oracle corporation, RACKSPACE TECHNOLOGY, INC., and Redcentric Plc.
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Covid-19 Scenario:
● Owing to the Covid-19 pandemic, the adoption of the remote working culture and cloud services led to increased implementation of IaaS. The closure of commercial activities and lockdown measures presented challenges in daily operations of businesses and increased implementation of IaaS.
● According to a survey conducted by Manage Engine, nearly 97% of Indian enterprises raised their reliance on the cloud technology and raised deployment of hybrid cloud.
● The need to process the data at high speed, share huge amount of information over cloud, and lowering overall operational costs led to adoption of IaaS during the pandemic.
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