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Infrastructure-as-a-service (IaaS) market to reach $859.67 billion by 2031, TMR study

ALBANY, NY, March 4, 2022 /PRNewswire/ — Analysts at Transparency Market Research believe that infrastructure as a service market to expand at a CAGR of 28.5% during the forecast period, 2021 to 2031. The growing practice of enterprises to rent or lease cloud servers for computing and data storage is fueling the growth of the IaaS market .

IaaS is a cloud computing service that allows users to run any operating system or applications on rented servers without incurring their maintenance and operating costs. Infrastructure as a service also offers the benefit of providing server access to customers who are geographically closer to their end users. IaaS automatically scales up and down based on demand and provides a guaranteed service level agreement during times of uptime and performance.

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Infrastructure as a Service Market – Key Findings of the Report

  • The increasing adoption of hybrid cloud systems in a range of industries such as healthcare, e-commerce and manufacturing due to data security limitations of public and private cloud models is creating many opportunities in the IaaS market
  • The surge in the number of data centers to support the explosion in commercial data volume of IT and telecommunications companies is driving the IaaS market. The establishment of small and medium-sized data centers is bolstering the growth of the IaaS market.
  • The increasing digitization of economies in which governments support information and communication systems, resulting in the increasing use of cloud systems, is driving the demand for infrastructure as a service. This attracts small and medium enterprises for the adoption of infrastructure services.
  • The immense upside of expanding network services from the underlying digital transformation bodes well for the demand for infrastructure services. Leading companies in the IaaS market are harnessing the potential of digital transformation to extend their service networks, thereby amplifying their infrastructure services. For example, in September 2021Google Inc. has extended its network services to four new locations, namely Germany, Chile, Saudi Arabiaand Israel, in which six new submarine cables were announced to expand its infrastructure-as-a-service offerings. In another case, in June 2021, NTT Communication Corporation – NTT Group’s international communications and ICT solutions business has extended its flexible interconnection service to overseas markets to create opportunities in its infrastructure services. Flexible Interconnect provides private and secure connections to various cloud service providers as well as interconnection between NTT Group’s global data centers.
  • Monumental growth of e-commerce sector involving a large amount of transactional data leads companies to adopt infrastructure services. Infrastructure as a service is cost-effective and can be extended according to the needs of e-commerce service providers. This confirms the dominance of the retail and e-commerce segment in the infrastructure as a service market in 2020.
  • Asia Pacific is becoming a key region in the IaaS market. The exponential growth of the e-commerce industry, along with the increase in data traffic in the healthcare, telecommunications, and manufacturing sectors, is creating lucrative opportunities in the region’s IaaS market.

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Infrastructure as a Service Market – Growth Drivers

  • Rapid adoption of hybrid cloud systems by organizations due to data security limitations of private and public cloud models is driving the infrastructure as a service market
  • Widespread support from governments in several countries for digitalization that is increasing the use of cloud systems is propelling the infrastructure-as-a-service market

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Infrastructure as a Service Market – Key Players

Some of the major players operating in the IaaS market are;

  • Fujitsu Ltd.
  • Rackspace inc.
  • Dimension Data Plc
  • Google Inc.
  • VMware Inc.
  • Microsoft Corporation
  • Oracle Corporation
  • Amazon Web Services Inc.
  • NTT Communications Corp.
  • IBM Corporation
  • Verizon Communications Inc.
  • Hewlett-Packard Development Company
  • datapipe inc.

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The infrastructure as a service market is segmented as follows;

Infrastructure as a Service (IaaS) Market, by Solution

  • Managed Hosting
  • Storage as a Service
  • Disaster Recovery as a Service (DRaaS)
  • Flatsharing
  • Network management
  • Content Delivery
  • Others

Infrastructure as a Service (IaaS) Market, by Deployment Type

  • public cloud
  • Private cloud
  • hybrid cloud

Infrastructure as a Service (IaaS) Market, by Application

  • IT & Telecom
  • Health care
  • Retail and e-commerce
  • Energy and Utilities
  • Manufacturing
  • Others

Infrastructure as a Service (IaaS) Market, by End User

Infrastructure as a Service (IaaS) Market, by Region

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • South America

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