Global Infrastructure-as-a-Service (IaaS) Market to Grow at 22.4% During 2024-2032, Spurred by Rising Adoption of Hybrid Cloud Services

March 15, 2021 | Technology & Media

According to the latest report by IMARC Group, titled "Infrastructure-as-a-Service (IaaS) Market Report by Deployment Type (Public Cloud, Private Cloud, Hybrid Cloud), Solution (Managed Hosting, Disaster Recovery as a Service, Storage as a Service, Colocation, Network Management, Content Delivery, High Performance Computing as a Service, and Others), End-User (SMBs, Large Enterprises), Vertical (IT and Telecom, Banking, Financial Services, and Insurance (BFSI), Healthcare, Retail and E-commerce, Government and Defense, Energy and Utilities, Manufacturing, and Others), and Region 2024-2032," the global infrastructure-as-a-service (IaaS) market reached a value of US$ 103.9 Billion in 2023. Infrastructure-as-a-Service (IaaS) refers to an instant computing infrastructure service that involves the use of the cloud and internet to provide infrastructural tools and services to enterprises. It involves several computing resources, including servers, bandwidth, network connections and load balancers, that are provided virtually by the cloud service providers (CSPs). It delivers fundamental network and storage resources to the consumers on-demand on a pay-as-you-go basis. It also enables access to the servers across vast geographical locations that consequently eliminate the need for on-site data centers. IaaS consequently aids the end users in scaling their resources depending upon their requirements, ultimately minimizing high and up-front capital expenditures and unnecessary infrastructural investments.


Global Infrastructure-as-a-Service (IaaS) Market Trends:

The global market is majorly driven by the increasing digitization across several industry verticals. This is supported by a considerable rise in the demand for cost-effective information technology (IT) infrastructure with faster data accessibility. IaaS provides computing resources over the internet that eliminate the need for expensive infrastructure, thereby significantly reducing the operational costs of the end user. As a result, it is widely utilized in numerous organizations, especially small and medium-sized enterprises (SMEs). Moreover, there has been an increase in the demand for disaster recovery-as-a-service (DraaS) by multiple organizations. It is widely employed for replicating virtual servers by a third party in order to recover sensitive data in the event of a security breach or natural data failure. Furthermore, the increasing deployment of the hybrid cloud is acting as another major growth-inducing factor as it provides integrated services using both the private and public cloud computing services in the same enterprise. This facilitates faster data exchange and offers numerous improved security features. Some of the other factors contributing to the market growth include the increasing volume of financial and business data across several industries and continual advancements in wireless technology. On account of the aforementioned factors, the market is expected to grow at a CAGR of 22.4% during 2024-2032.

Market Summary:

  • On the basis of the deployment type, the market has been divided into the public, private and hybrid cloud.
  • Based on the solution, the market has been classified into managed hosting, disaster recovery as a service, storage as a service, colocation, network management, content delivery, high performance computing as a service, and others.
  • On the basis of the end-user, the market has been bifurcated into SMBs and large enterprises.
  • Based on the vertical, the market has been categorized into IT and telecom, banking, financial services, and insurance (BFSI), healthcare, retail and e-commerce, government and defense, energy and utilities, manufacturing, and others.
  • On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
  • The competitive landscape of the industry has been examined in the report with the detailed profiles of the key players. Some of these players include Amazon Web Services, Inc, Cisco Systems Inc., DXC Technology Company, Dell Technologies, Inc., Fujitsu Limited, Google LLC, International Business Machines (IBM) Corporation, Microsoft Corporation, Oracle Corporation, IONOS Cloud Inc., Rackspace Technology Global, Inc., Red Hat Inc., Redcentric plc, and VMware, Inc.

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Deployment Type, Solution, End-User, Vertical, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Amazon Web Services, Inc, Cisco Systems Inc., DXC Technology Company, Dell Technologies, Inc., Fujitsu Limited, Google LLC, International Business Machines (IBM) Corporation, Microsoft Corporation, Oracle Corporation, IONOS Cloud Inc., Rackspace Technology Global, Inc., Red Hat Inc., Redcentric plc, and VMware, Inc.
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Global Infrastructure-as-a-Service (IaaS) Market to Grow at 22.4% During 2024-2032, Spurred by Rising Adoption of Hybrid Cloud Services
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