Infrastructure as a Service Market 2023 | Latest Update, Trends & International News In One Place - Analysis & Forecast
December 13, 2019 by Market-NewsFlash
Global Infrastructure As A Service (IaaS) Market Research Report — By Solution (Network Management, Content Delivery Services), Deployment Type (Private Cloud), End User (Large Enterprises), Verticals (Telecommunications), By Regions — Forecast Till 2023
Infrastructure as a Service Market Overview
Acknowledging the kind of growth, the IaaS market is witnessing currently, Market Research Future (MRFR) in its recently published study report asserts that the global Infrastructure as a Service market will reach approx. 59 BN USD by 2023, registering a whopping CAGR over 23 % from 2017 to 2023.
Infrastructure as a service (IaaS) governance demand is growing with IaaS mis-configurations and inadvertent sensitive data storage exposure causing some of the biggest breaches over the past couple of years. Demand for sustainable security assessment and monitoring, effective data loss prevention, and malware and threat protection is increasing. As a result, businesses are increasingly focusing on improving governance to prevent data loss.
Simultaneously, factors such as the increasing demand for hybrid computing, faster implementation, scalability, and accessibility of the IT system are defining the market landscape for IaaS, increasing the demand and uptake of IaaS. Moreover, the increasing adoption of multi-cloud and cloud-based IaaS platform is escalating the IaaS market on the global platform.
Augmenting uptake of cloud computing among various verticals including IT & telecom, BFSI, healthcare, retail & e-commerce due to maximum utilization of IT resources and cost-effective cloud computing services among organizations
On the flip side, factors such as the lack of technical expertise to manage IT infrastructure and data security on the cloud are expected to restrict the market growth of IaaS over the assessment period. Nevertheless, the cloud-based IaaS platform owing to its capability to enhance the IT services and fast data accessibility, witnesses a vast demand in large enterprises, which in turn, will support the market growth over the forecast period.
Global Infrastructure as a Service Market-Regional Analysis
The North American region leads the global Infrastructure as a Service market with the largest market share. Factors such as the wide uptake of IaaS & advancement of technology coupled with the increasing investments transpired in the cloud-based solutions are driving the market growth in the region. Furthermore, attributing to the increasing penetration of hybrid cloud and advanced IT infrastructure, the region is likely to retain its dominance over the forecast period.
The European region accounts for the second largest market for Infrastructure as a Service, globally. IaaS market in the region offers lucrative opportunities owing to the rapidly growing enterprises. Countries such as the UK, France, Germany, and Italy, backed with the technological advancement positively impact the market growth in the region. Continuing with the same growth trends, the IaaS market in Europe is expected to register the highest CAGR over the review period.
The Asia Pacific region is another promising market for Infrastructure as a Service, accounting for a substantial market share. Countries such as China, Japan, and India are rapidly advancing due to the improving economy, which, in turn, supports the growth of the regional market. Furthermore, spurting industrialization across the region is acting as a key driving force driving the growth of the IaaS market in the region.
Global Infrastructure as a Service Market- Competitive Analysis
The embryonic market of IaaS appears to be fiercely competitive and fragmented. Several large and small players are churning the competition to gain competitive edge accounting for a substantial market share. Collaboration, acquisition, partnership, product/ technology launch & expansion, remain the prevailing strategies of market players.
Fervent players driving the market for the Infrastructure as a service include Google LLC (U.S.), Amazon Web Services Inc. (U.S.), Microsoft Corporatio ( U.S.), Cisco Systems Inc (U.S.), International Business Machines Corporation (U.S.), HCL Technologies Limited (India), Computer Sciences Corporation (U.S.), Accenture (Republic of Ireland), VMware, Inc. (U.S.), Oracle Corporation (U.S.), Fujitsu Ltd (Japan), and Rackspace Inc. (U.S.).
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