Cloud Infrastructure Services Market is growing due to the recent infiltration of smartphones, smart devices, and other consumer electronic products has dramatically pushed the need for public cloud services.
New York, NFAPost: According to the research report published by Market Research Future (MRFR), “Cloud Infrastructure Services Market By Offering, By Type, By Technology, By Application – Forecast to 2030”, the market is predicted to thrive substantially during the assessment era from 2023 to 2032 at a healthy CAGR of approximately 17.63% to attain a valuation of around USD 446.275 billion by the end of 2032.
The most significant business benefits of a successful cloud infrastructure are improved flexibility & scalability, business continuity, cost efficiency, collaboration, and automatic software updates.
Implementing cloud infrastructures also helps these businesses gain enhanced mobility, automation-enabled agility, and UX. Cloud infrastructure provides organizations with high flexibility and unlimited storage space, enabling them to scale up or down to meet demand.
Data stored in the cloud helps maintain business continuity, mirroring across another server/location. Organizations are increasingly implementing cloud infrastructures to achieve data center modernization, agile engineering environments, resilient web platforms, intelligent data platforms, enterprise cloud applications, and workplace cloud solutions.
Key Players – Cloud Infrastructure Services Market:
Microsoft (US)
Amazon Web Service (US)
IBM (US)
Salesforce (US)
Google (US)
Citric Systems (US)
Equinix (US)
AT&T Inc. (US)
HP (US)
Rackspace Inc. (US)
Industry Trends:
Cloud infrastructure services are proven viable solutions for services or products on demand through delivery models preferred increasingly. This, as a result, drives the cloud infrastructure services market size. The rising adoption of public cloud system infrastructure services and cloud computing services majorly defines the growing market landscape. The market perceives rampant growth, demonstrating a vast growth potential in the future.
Increasing investments and spending on cloud deployment of enterprise storage systems, networking hardware, databases, applications, and firewalls boost the market share. Additional factors substantiating the market size include increasing usages of cloud-based applications for data storing and growing numbers of businesses. Cost-effective, cloud-based applications are increasingly adopted among enterprises due to their economical data storage advantage.
The growing usage of the cloud-based application has been encouraging the uptake of this technology among businesses to efficiently manage their IT operations, which, in turn, drives the market growth. On the flip side, factors such as high bandwidth costs, frequent monitoring & control needs, and security & performance management concerns impede market growth in a slow cloud provider network.
Market Segmention:
The cloud infrastructure services market report is segmented into design services, deployments, verticals, and regions. The design service segment is sub-segmented into IaaS, PaaS, SaaS, BpaaS, content delivery network/application delivery network, managed hosting, and colocation hosting.
The deployment segment is sub-segmented into public, private, and hybrid. Of these, the public segment dominates the market due to increased penetration of connected devices and growing digital transformation & automation among small & medium-sized businesses.
On the other hand, the hybrid cloud segment witnesses rapid growth due to the increasing use of cloud-based solutions among SMEs to increase productivity and reduce operational costs. The private cloud segment perceives huge adoption across large enterprises due to the rising demand for scalable, secure, and cost-effective solutions.
The vertical segment is sub-segmented into BFSI, manufacturing, retail, energy, logistics, research & development, media & entertainment, education, healthcare, and others. Of these, the BFSI segment dominates the market due to the increased deployment of cloud-based software and mobile applications.
Also, retail, manufacturing, energy, logistics, research & development segments are growing significantly due to increased government and cloud provider initiatives and investment plans to support the adoption of cloud professional services among start-ups. By regions, the cloud infrastructure services market is sub-segmented into the Americas, Europe, APAC, and Rest-of-the-World.
The cloud infrastructure services market appears fragmented due to the competitive landscape formed by many notable players and new entrants. Product launch, agreement & partnership, M&A, and expansion are some of the strategic initiatives traced from the recent proceedings in the market.
Leading global digital ecosystem enablers partner with cloud companies to drive their cloud adoption and transform businesses. Such partnerships help these players expand their managed public cloud services portfolio with cloud capabilities.
For instance, on May 16, 2023, Oracle announced that FedRAMP has approved new Oracle cloud infrastructure (OCI) services, making more cloud services available to US government agencies, including civilians, defense, and the intelligence community.
Oracle is committed to providing innovative cloud services to its government customers, enabling them to modernize services and infrastructure by delivering the highest security features available on the market. Government agencies can now leverage FedRAMP-authorized cloud services to meet their needs, ensuring extensive measures to protect their technology, processes, and people.
