Technavio has been monitoring the global IaaS market since 2018 and the market is poised to grow by USD 101.56 billion during 2019-2023, decelerating at a CAGR of nearly 28% during the forecast period.
Read the 122-page report with TOC on "Infrastructure as a Service Market Analysis Report by Deployment (public cloud, private cloud, and hybrid cloud), Geography (APAC, Europe, MEA, North America, and South America), and the Segment Forecasts".
The market is driven by the increased cloud adoption across several industry verticals. In addition, simplification of disaster recovery with cloud is anticipated to boost the growth of the infrastructure as a service market.
Many end-users across industries such as government agencies, BFSI, retail, healthcare, manufacturing, telecommunication and IT, and media and entertainment are rapidly adopting cloud services. This is due to the advantages offered by cloud services such as reliability, enhanced uptime, enriched IT service, improved flexibility, and fast operational speed. For example, government agencies are increasingly adopting IaaS cloud to overcome various challenges associated with maintaining different file types, sizes, and formats. The IaaS cloud model also helps government agencies to optimize their existing and new services. The rising adoption of cloud-based solutions is expected to fuel market growth during the forecast period.
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Major Five IaaS Companies:
The company's ApsaraDB for Redis offers database services and data read-write capabilities at high-speed by retrieving data from in-memory caches.
Amazon Web Services Inc.
Amazon EC2 is one of the popular product offerings of the company. The Amazon EC2 is a simple web service that provides resizable compute capacity which is secure in the cloud.
COMPUTE ENGINE is one of the popular product offerings of the company. It offers virtual machines that run in Google's data centers.
IBM Corp. offers a wide range of IaaS cloud servers. The company offers bare metal and virtual servers that enable customers to customize the services as per their requirements.
Microsoft Corp. owns and operates its business across various segments such as productivity and business processes, intelligent cloud, and more personal computing. Azure infrastructure as a service (IaaS) is one of the popular product offerings of the company. Azure IaaS offers a bare-metal infrastructure, which can be scaled according to the user requirement.
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Infrastructure as a Service Deployment Outlook (Revenue, USD Billion, 2019 - 2023)
Infrastructure as a Service Regional Outlook (Revenue, USD Billion, 2019 - 2023)
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