Portland, OR, Jan. 13, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global Infrastructure as a Service Market was pegged at $38.94 billion in 2019 and is estimated to hit $201.83 billion by 2027, registering a CAGR of 23.2% from 2020 to 2027. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.
Increase in demand for low cost IT infrastructure and faster data accessibility, and rise in cloud adoption across several industry verticals fuel the growth of the global infrastructure as a service market. On the other hand, security concerns over private cloud deployment restrain the growth to some extent. Nevertheless, surge in cloud adoption among SMEs is projected to create lucrative opportunities in the coming years.
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Impact of COVID-19 on Infrastructure as a Service Market:
- Organizations across the world have adopted the drift of ‘work from home’ and this, in turn, has impacted the global Infrastructure as a Service market positively.
- Along with providing core underlying infrastructure on rent to corporate networks, the front-runners in the industry are also offering lucrative discounts to their clients.
- With the IaaS companies providing customers with the option of renting remote computing power, there’s been a steep increase in the usage of cloud, and this has enabled the technology to grow during this crisis.
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The global Infrastructure as a Service market is analyzed across component type, deployment model, user type, industry vertical, and region. Based on component type, the compute segment contributed to more than two-fifths of the total market share in 2019, and is anticipated to lead the trail by the end of 2027. Simultaneously, the network segment would garner fastest CAGR of 23.7% during the forecast period.
Based on deployment mode, the hybrid segment accounted for more than two-thirds of the total market revenue in 2019, and is projected to maintain the lions share by 2027. The same segment is also expected to grow at the fastest CAGR of 23.6% from 2020 to 2027.
Based on geography, the market across North America held the major share in 2019, generating nearly two-fifths of the global market. Asia-Pacific, on the other hand, would exhibit the fastest CAGR of 26.5% by 2027. The other two regions studied through the report include Europe and LAMEA.
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The leading market players analyzed in the global Infrastructure as a Service market report include Amazon Web Services, Inc., Alibaba Group Holding Limited, Dell EMC, Google LLC, International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, Rackspace Hosting, Inc., Redcentric plc., and Hewlett Packard Enterprise. These market players have adopted different strategies including partnership, expansion, collaboration, joint ventures, and others to reinforce their status in the industry.
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