LONDON--(BUSINESS WIRE)--According to the latest procurement intelligence report from Technavio, the global IaaS market is expected to grow at a CAGR of over 29% over the next five years due to the increase in data volume that drives the demand for virtualized storage facilities and systems.
The research report titled ‘Global IaaS Market: Procurement Intelligence Report 2017-2021’ provides an in-depth analysis of category spend, best procurement practices and cost saving opportunities, aimed at helping organizations achieve superior business performance. The report also provides insights on pricing, supplier positioning, and top companies, enabling sourcing professionals to improve their competitive advantage through procurement excellence.
“Many organizations, especially small and medium-sized firms, rely on IaaS as it offers greater flexibility, scalability, and agility of services by providing the solutions via cloud environment, which reduces the CAPEX for organizations,” says lead Technavio procurement specialist Angad Singh for category spend intelligence. “IaaS helps buyers to reduce operational complexity by eliminating the need for installation and maintenance of dedicated servers, disaster recovery systems, and data storage systems,” added Angad.
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Cost saving opportunities in the IaaS
The adoption of cost optimization levers can help buyers of IaaS realize cost savings and achieve category management and value benefits, including a reduction in procurement complexities.
Technavio procurement experts have segmented the cost saving opportunities in the IaaS market into the following value-enhancement opportunities:
- Adoption of technology
- Supplier Competition
- Adoption of negotiation strategies
- Optimization of procurement practices
- Bundling of services
Adoption of technology saving aspects
Hybrid cloud is a combination of public and private cloud using services where management of cloud services is done by the public cloud provider and the organization. Hyperscale computing refers to the use of COTS computing equipment, which uses millions of virtual servers to cater to the increasing computing requirements without extending the existing physical space.
SDN refers to various networking technology intended to make the network flexible and agile. It allows the network administrators to control the network traffic from a centralized console without having to control the individual network switches.
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Optimization of procurement practices saving aspects
Automated monitoring of infrastructure utilization rate allows buyers to track information on the effectiveness of digital and cloud platforms. Also, automation in monitoring helps buyers to improve application performance and sustainability without manual intervention.
Bundling of services saving aspects
Buyers should engage with suppliers that embed dynamic infrastructure solutions such as proprietary tools for data center resources that can automatically adjust itself when the workload demand changes.
As the critical workload increases on cloud platforms, optimization of the workflow is required to ensure uninterrupted operations. The dynamic infrastructure is dependent on the identification, classification, virtualization, and tracking of data resources.
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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