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Bare Metal Cloud Market Segments 2024-2033 | Size, Share And Insights
Bare Metal Cloud Market Segments
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According to The Business Research Company's, The bare metal cloud market size has grown exponentially in recent years. It will grow from $8.46 billion in 2023 to $10.35 billion in 2024 at a compound annual growth rate (CAGR) of 22.4%. The growth in the historic period can be attributed to demand for high-performance computing, need for isolation and dedicated resources, growth in data-intensive applications, adoption of bare metal cloud for big data analytics, increased security and compliance requirements.
The bare metal cloud market size is expected to see exponential growth in the next few years. It will grow to $24.8 billion in 2028 at a compound annual growth rate (CAGR) of 24.4%. The growth in the forecast period can be attributed to growth in hybrid cloud deployments, increased adoption by small and medium enterprises (smes), emphasis on bare metal cloud for artificial intelligence (ai) workloads, expansion of bare metal cloud for high-performance gaming, integration of bare metal cloud with edge computing. Major trends in the forecast period include bare metal cloud for containerized workloads, customizable bare metal instances and configurations, adoption of bare metal cloud in 5g networks, focus on sustainable and green bare metal cloud solutions, integration of bare metal cloud with network function virtualization (nfv).
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Market Drivers and Trends:
The increasing adoption of cloud services is expected to propel the growth of the bare metal cloud market going forward. Cloud services refer to the set of services provided by the third-party organization on demand of client companies or customers via the internet to conduct smooth business operations. Bare metal cloud allows organizations to access to a dedicated server, without virtualization. For instance, in 2021, according to a US-based learning company's O'Reilly Media, Inc survey, approximately 90% of organizations are using cloud computing in the year 2021 as compared to 88% last year. Also, nearly 37% respondents said that they plan to be cloud native within three or more years. Therefore, the increasing adoption of cloud services and enterprise mobility services is driving the bare metal cloud market growth.
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
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Major Key Players of the Market:
International Business Machines Corp, Oracle Corporation., Internap Holding LLC., Rackspace Technology Inc., Amazon Web Services Inc., Ionos SE., Alibaba Cloud, Lumen Technologies Inc., DigitalOcean Holdings Inc., Equinix Inc., Google Cloud Platform, Hetzner Online GmbH, Hostinger International Ltd., Hostwinds LLC, InMotion Hosting Inc., Kamatera Inc., Linode LLC., CloudOne Digital LLC., OVH Groupe SA., PhoenixNAP LLC, SingleHop LLC., UpCloud Ltd., Vultr LLC., ZNet Technologies Pvt. Ltd., Zoho Corporation Pvt. Ltd.
Bare Metal Cloud Market 2024 Key Insights:
• The bare metal cloud market size is expected to see exponential growth in the next few years. It will grow to $24.8 billion in 2028 at a compound annual growth rate (CAGR) of 24.4%.
• Increasing Adoption Of Cloud Services Propels The Growth Of The Bare Metal Cloud Market
• Technological Advancements In Bare Metal Cloud Market
• North America was the largest region in the bare metal cloud market in 2023
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