Cloud Infrastructure Services Market size is predicted to grow significantly in the coming years, North America to be major revenue contributor
Cloud Infrastructure Services Market in Asia Pacific is anticipated to grow at the fastest pace due to the growing demand from developing economies. The supportive government initiatives and policies across the region also promote the demand for cloud services. For instance, in 2017, China launched the Digital China Initiative to enable the rapid commercialization of digital business models on a large scale.
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Cloud Infrastructure Services Market in private cloud deployment model is anticipated to grow significantly over 2018 to 2024 . This private cloud market has been widely used by large and small businesses as it provides better control over data and information assets. It also provides better security and superior performance as compared to other deployment models. The public clouds are preferred by organizations that use application systems or web servers in which security is not a prime concern. The public clouds are most suitable for start-ups as there are minimal setup costs.
Top Key Players:
3. Dimension Data
Cloud Infrastructure Services Market is estimated to witness lucrative growth from 2018 to 2024 propelled by increasing digitalization and growing need for more scalable models. As the internet penetration and smartphone adoptions across the globe are increasing, customers are becoming more empowered. This is encouraging organizations to opt for more dynamic and advanced delivery models to connect to their customers and provide personalized experiences. Moreover, the growing need to reduce the operational costs and maintenance of the IT infrastructure also encourages the adoption of cloud infrastructure services by several organizations.
The companies operating in the cloud infrastructure services market are AT&T, Alibaba, Dimension Data, AWS, IBM, InterVision, Oracle, Microsoft, Google, Rackspace, Fujitsu, Verizon, Bluelock, VMware, DigitalOcean, NEC, CenturyLink, OVH, Interoute, Tencent, Joyent, Skytap, Virtuestream, ProfitBricks, and NaviSite. The vendors in the market are conducting strategic acquisitions to increase their market share. In 2018, InterVision acquired Bluelock to own its Disaster Recovery as a Service (DRaas) and Infrastructure as a Service (IaaS) solutions. This acquisition positions InterVision to address the changing needs of its business in a better manner.
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The Storage as a Service (SaaS) market holds the largest market share in the cloud infrastructure services market. This is a business model in which large businesses lend storage space to smaller companies. SaaS vendors are promoting the service as a convenient way to store the backup data. Compute as a Service (CaaS) market is anticipated to grow at a rapid pace over the forecast timespan. This service is used to allow access to raw computing resources on demand. Most of the CaaS services are priced through a consumption-based model.
The growing demand for agility, flexibility, and control has accelerated the growth of the hybrid cloud sector in cloud infrastructure services market. The hybrid cloud allows organizations to respond to fluctuating demands and helps balance the high subscription costs associated with private cloud platforms. Vendors are focusing on expanding their hybrid cloud product portfolio. For instance, VMware has joined forces with Amazon to offer a complete hybrid platform on AWS. Some vendors are also offering on-premise platforms to extend their public cloud offerings.
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