August 2024
07 Jun 2023
The global infrastructure as a service market size surpassed USD 68.58 billion in 2022 and is projected to rise to USD 485.1 billion by 2030, anticipated to grow at a strong CAGR of 27.7 percent during the projection period from 2022 to 2030.
The growing need by organizations to offload IT and reduce data center deployment costs and hire skilled resources to manage IT infrastructure is driving IaaS adoption. The main areas of opportunity for IaaS are the growing demand from the growing number of SMEs, the need to deploy enterprise-class computing capabilities to compete in the marketplace, and digitalization. Government initiatives to encourage the adoption of the Internet and other advanced technologies in their economies are supporting the growth of this market.
Report Highlights:
The hybrid segment is the largest contributor to the market based on the type of deployment. Advanced hybrid deployment skills include workload mobility, cross-cloud accessibility, load balancing in private/public environments, and centralized monitoring. Datacenter and standard orchestration are the main factors influencing the growth of the market. Accelerating the transition to the public cloud, IaaS service providers are constantly improving their self-service capabilities and services, including dynamic resource scaling, which is also a supporting factor in segment growth. However, security and service reliability issues in public hosting are some of the factors hindering the growth of the market.
Based on type, the computer segment holds the largest market share. Growing demand for consistent performance, on-demand application programming interfaces (APIs), and security for physically isolated networks is expected to drive the market. Additionally, a growing preference for on-the-go payments and cloud orchestration services across multiple verticals including government and education, manufacturing, healthcare, and retail, is expected to drive the growth of the market.
Many companies in the industry, including Rackspace US, Inc., IBM Corporation, Oracle Corporation, and many others, offer scalable cloud network solutions to facilitate the flexibility and availability of a network. In addition, several strategic developments including product innovation and business expansion in the cloud network market are expected to create a niche space for market growth in the coming years.
Infrastructure as a Service Market Report Scope:
| Report Coverage | Details |
| Market Revenue in 2023 | USD 87.58 Billion |
| Projected Forecast Revenue in 2030 | USD 485.1 Billion |
| Growth Rate from 2022 to 2030 | CAGR of 27.7% |
| Largest Market | North America |
| Base Year | 2022 |
| Forecast Period | 2022 To 2030 |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Regional Snapshot:
The North American geographic region has emerged as the largest surgical suture market due to the large number of surgeries performed in this region.
North America provides the full infrastructure development to adopt IaaS technology. In addition, major vendors are focusing on developing new solutions, strategic alliances and geographical expansion to strengthen their presence in the global market. BFSI and government industries are expected to dominate the IaaS market during the forecast period. Key factors driving the North American market include growing demand for low-cost cloud infrastructure development and faster network access. In addition, the growing demand for large data storage and the increasing use of IaaS gateways are driving the growth of this market.
The IaaS market in Europe is growing at a significant growth rate, driven by the increasing adoption of IaaS through cost-effective solutions and the growing awareness of the benefits of IaaS among players. Furthermore, the high awareness of various types of cloud computing services is continuing to drive the growth of this market in Europe. Also, the high internet penetration in the European region is driving the growth of the market. The European Commission is also undertaking initiatives to develop relevant regulations for the transition of cloud services.
Market Dynamics:
These web services provide high-level APIs that can be used to refer to various low-level features of the network infrastructure, such as physical computing resources, data partitioning, scale, location, security, backup, etc. IaaS allows users to run any operating system or application on leased servers without paying for server operation and maintenance. The rising inclination towards low-cost IT infrastructure is boosting the growth of the market.
Additionally, the adoption of cloud services in diverse industry verticals is also impacting the growth of the IaaS market positively. However, security issues associated with private cloud implementations are hindering the growth of the market. On the contrary, the growth in cloud adoption by small and medium enterprises is expected to present a favorable opportunity for the expansion of the IaaS market during the forecast period.
Driver:
Most organizations face privacy and data protection issues, high initial investment costs, and other operational challenges. They try to make the most of IaaS and other cloud technologies, which has significantly hindered the growth of the market.
Opportunities:
The main areas of opportunity for IaaS are the growing demand from the growing number of SMEs, the need to deploy enterprise-class computing capabilities to compete in the marketplace, and digitalization. Government initiatives to encourage the adoption of the Internet and other advanced technologies in their economies are supporting the growth of this market.
Challenge:
Due to the lack of proper infrastructure, this market will face many problems during development because in order for something to work properly, the components used in that thing must be present with the user otherwise the system will not work properly. Therefore, this is one of the main factors that can hinder the growth of this market. Second, the data security issues associated with cloud-based systems is another factor that may limit the expansion of this industry to some extent.
Recent Developments:
Major Key Players:
Market Segmentation:
By Type
By Deployment Model
By Enterprise Size
By Vertical
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