Infrastructure as a Service (IAAS) Market Analysis to 2024 and Forecasts
Growing need for high speed interaction between various networks, fast access to data, running real time queries may cater to the growth of IaaS market. Moreover, the growing volume of business and financial data is creating the demand for wide adoption of IaaS by organizations.
High price of the software and the network complexity concerns needs to be addressed. Moreover, lack of awareness about the technology may curb the IaaS market growth. Factors such as dependency on a single network of servers may prove to be risky in crucial times. Moreover, to protect confidential information of business entities against any misdemeanors, strong encryption techniques must be implemented.
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Stringent regulatory compliances might hinder the IaaS market growth. For instance, the EU Data protection act seeks to keep personal information with the European union. Furthermore, multi tenancy and de-provisioning might pose challenges such as violation of protocol, compromising data with other business entities along with growing complexity in the password authentication methods.
Based on deployment, the global IaaS market can be segmented into public, private and hybrid cloud services. Growing popularity of public cloud services from small and medium businesses owing to the high operational efficiency offered by these services followed by low set-up cost is expected to propel the industry demand over the forecast timeline. For instance, IBM Blue Cloud, based on open standards and open source software enable data centers to operate as internet allowing computing across accessible and distributed resources worldwide.
Private cloud services are developed by enterprises for their internal use for the purpose of storage and regulation of sensitive data. In addition, private cloud services have a high growth rate owing to its flexibility and scalability and resource sharing advantages among large number of networks. For instance, Pearson established private cloud network to transform the way it delivers education worldwide.
Hybrid Cloud market is anticipated to grow at a significant rate in the IaaS market owing to its widescale applications and providing integrated services utilizing both private and public cloud computing services in the same organization. Having access to hybrid cloud, enterprises will have the capability to perform fast data exchange, with increased security features. Moreover, the technology can perform quick data processing securely, sharing of huge amount of data over the cloud network which will augment the IaaS market growth. Moreover, it also helps organizations in lowering the overhead costs. Architectural flexibility of hybrid cloud technology helps enterprises in organizing the workload in an efficient manner. Moreover, quick recovery of data is one of the attractive features contributing to the growing industry size.
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Based on services, the IaaS market can be segmented into Disaster recovery as a Service(DraaS), Communication as a Service(CaaS), Database as a Service(DbaaS). DraaS is anticipated to witness high growth owing to its capability to replicate virtual servers by a third party to recover data in an event of natural data failure and any security breach.
By end use, the IaaS market can be segmented into small, medium and large enterprises. Furthermore, the segments can be classified into various industries such as banking financial and insurance sector (BFSI), IT, Telecom, Hospitality, Healthcare, Manufacturing. IT &Telecom and BFSI industry are anticipated to dominate the industry in a view to the rising demand for virtualization of data center and efficient data management. SMBs owing to its cost efficiency and operationally efficient services.
Presence of huge IT infrastructure in the U.S may drive the demand for IaaS market growth. Technological advancements and innovations in cloud computing is expected to contribute to the regional growth. Economies such as India, China, North Korea in the Asia Pacific region is anticipated to witness high growth in IaaS market owing to the integration of increasing internet accessibility with various technological advancements in the wireless technology. In Latin American IaaS market growth is characterized by increasing demand for infrastructure virtualization, various cloud based solutions and efficient data management.
IaaS market is very competitive owing to the presence of many industry participants. Industry players include Amazon, IBM, Google, CSC Corp., Microsoft and Rackspace. Amazon Elastic Compute Cloud (EC2) finds its use in accessing servers, software’s, storage devices. Moreover, elastic load balancing is one of the attractive features owing to distributing traffic in multiple instances. Other notable players in the IaaS market are.
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