According to the report, the global infrastructure as a service (IaaS) market generated $51.3 billion in 2020, and is estimated to reach $481.8 billion by 2030, witnessing a CAGR of 25.3% from 2021 to 2030.
Rise in demand for low-cost IT infrastructure, surge in cloud adoption across several industry verticals, and the requirement for rapid data accessibility drive the growth of the global infrastructure as a service market. However, concerns of security over private cloud deployment restrain the market growth. On the other hand, surge in need to manage data throughout its lifespan, from storage to archiving, is expected to present opportunities during the forecast period.
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The hybrid segment to offer lucrative opportunities
Based on deployment model, the hybrid segment held the highest market share in 2020, accounting for more than two-thirds of the global infrastructure as a service market, and is projected to continue its leadership status during the forecast period. Moreover, this segment is projected to witness the highest CAGR of 25.5% from 2021 to 2030. This is due to rise in generation of data from social media, big data, internet of things (IoT), and other applications, that led to the need for data storage and cost saving through the hybrid environment. The research also analyzes the segments including private and public.
The telecom and IT segment accounted for the highest market share in 2020
Based on industry vertical, the telecom and IT segment accounted for the highest market share in 2020, contributing to nearly one-fifths of the global infrastructure as a service market. This is attributed to complex network and computing requirements. However, the government and education segment is estimated to manifest the largest CAGR of 26.7% from 2021 to 2030. This is due to rise in investments by government and public sector companies.
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North America to maintain its dominance in terms of revenue by 2030
Based on region, North America contributed to the largest market share in terms of revenue in 2020, accounting for nearly two-fifths of the global infrastructure as a service industry, and is expected to maintain its dominance in terms of revenue by 2030. This is due to presence of huge number of specialized IaaS vendors in the region. However, Asia-Pacific is projected to portray the fastest CAGR of 27.5% during the forecast period, owing to ongoing digital transformation in the region.
Leading Market Players
- Alibaba Group Holding Limited
- Amazon Web Services, Inc.
- Dell Technologies, Inc.
- Google Corporation
- Hewlett Packard Enterprise Development LP
- IBM Corporation
- Microsoft Corporation
- Oracle Corporation
- Rackspace Technology, Inc.
- Redcentric Plc.
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Key Findings of the Big Data Analytics in Healthcare Market:
- By component type, the compute segment accounted for the largest infrastructure as a service market size in 2020.
- By region, North America generated highest revenue in 2020.
- By deployment model, the hybrid segment generated the highest revenue in 2020.
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