LONDON--(BUSINESS WIRE)--According to Technavio, Global Infrastructure as a Service (IaaS) Market by deployment (public cloud, and hybrid cloud) and geographic regions (APAC, Europe, MEA, North America, and South America) is expected to grow by USD 101.56 billion, at a post a CAGR of close to 28% during 2019-2023. However, the market’s momentum will decelerate in the coming years because of the decrease in year-over-year growth.
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Global IaaS market: Simplification of disaster recovery with cloud
Organizations have traditionally been using a separate site for disaster recovery. This required additional investments, which had a significant impact on organization’s IT budget. The IaaS model allows organizations to use public cloud platforms for disaster recovery purposes. Moreover, IaaS providers offer a more flexible pricing model than traditional on-premise solutions. IaaS vendors are undertaking various strategies and entering into partnerships to provide enhanced services and better disaster recovery systems. Thus, the simplification of disaster recovery with the cloud will fuel the adoption of IaaS during the forecast period.
“Apart from the simplification of disaster recovery with cloud, other factors such as the ease of deployment and scalability of platforms, along with the growing shift toward server virtualization will have a significant impact on the growth of the infrastructure as a service (IaaS) market size during the forecast period,” says a senior analyst at Technavio.
Global IaaS market: Segmentation analysis
This market research report segments the global IaaS market by deployment (public cloud, and hybrid cloud) and geographic regions (APAC, Europe, MEA, North America, and South America).
The North American region led the market in 2018, followed by APAC, Europe, South America, and MEA respectively. The infrastructure as a service (IaaS) market growth in North America can be attributed to the growing investments in communication network infrastructure, the rising deployment of 4G/5G networks, and the increasing demand for IaaS in the region. The growing investment in communication network infrastructure is driven by the rising adoption of IoT devices, and the advent of big data analytics.
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Global IaaS market: Increase in cloud adoption across several industry verticals
A key factor driving the growth of the global infrastructure as a service (IaaS) market size is the increase in cloud adoption across several industry verticals. Cloud infrastructure adoption has increased significantly among several industry verticals including retail, healthcare, manufacturing, telecommunication and IT, BFSI, media, and entertainment. This is mainly because the cloud offers advantages such as enhanced uptime, enriched IT service, reliability, increased flexibility of data access, and fast operational speed. Various government agencies are focusing on the use of IaaS model as it helps them to solve numerous challenges while managing different types, sizes, and formats of data. Therefore, the growing adoption of cloud will stimulate the IaaS market growth during the forecast period.
Few Major Players for the Global IaaS market are:
- Alibaba Cloud
- Amazon Web Services Inc.
- Google LLC
- IBM Corp.
- Microsoft Corp.
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