LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global cloud infrastructure services market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio market research analysts, the global cloud infrastructure services market will grow at a CAGR of over 28% during the forecast period. The need to optimize project management and business processes is a major factor driving the market’s growth.
In the current market scenario, enterprises have been concentrating on enhancing the overall efficiency of the organization. The organizations need strategic planning, which is aligned with their operational strategy to innovate their product and service offerings. Cloud infrastructure services are assisting organizations in aligning their project management planning with their business objectives for innovations and sustainable development. Cloud infrastructure services aid enterprises in the strategic planning process and provide them with a solution to allocate available resources efficiently.
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In this report, Technavio highlights the rise in the adoption of hybrid cloud storage systems as one of the key emerging trends driving the global cloud infrastructure services market:
Rise in the adoption of hybrid cloud storage systems
The hybrid cloud-based systems provide the organization flexibility to select a flexible solution, to choose the right cloud deployment model for each workload or workgroup. The three key benefits of deploying a hybrid cloud system are enhanced data management, greater IT infrastructure management and flexibility, and better security and compliance. Organizations are realizing the applications of cloud computing and are paving the way to integrate true cloud capability. Subsequently, business processes, applications, and cloud services go hand in hand to provide a better business solution and quantifiable benefits that will give a competitive edge to the cloud service vendors.
The cloud application vendors will give a competitive advantage to organizations. This will allow them to precisely move the heavy workloads between the in-house cloud and the public cloud without changing any essential business functions or by increasing the CAPEX. Hybrid cloud-based systems will have the highest implementation rate and growth rate. Primarily, the hybrid cloud-based systems will concentrate on the in-house cloud, focusing more on modernizing the applications and retaining the business functionality while developing an elastic, scalable model.
“Hybrid cloud-based systems will focus on the public cloud as it is cheaper to implement. Therefore, the public cloud will have more features and will be secure to provide the same capabilities as an internal private cloud at a considerably lower cost during the forecast period,” says a senior analyst at Technavio for research on cloud computing.
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Global cloud infrastructure services market segmentation
This market research report segments the global cloud infrastructure services market into the following end-users (BFSI, government and education, healthcare, telecom and IT, and retail) and key regions (the Americas, APAC, and EMEA).
The BFSI industry dominated the global cloud infrastructure services market in 2017, accounting for a market share of approximately 22%. It is expected to dominate the market throughout the forecast period. The government and education and retail segments will be the fastest-growing segments during the forecast period due to the growth of the e-commerce industry and the increase in the number of online education and government applications.
In 2017, the Americas accounted for more than 51% of the total market share. The Americas is an early adopter of modern technologies. The dominance of the Americas is mainly because of the overall maturity and growth of the industrial and private sectors and the high adoption of cloud services in these sectors.
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