New York, June 22, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Infrastructure as a service (IaaS) Global Market Report 2021: COVID-19 Impact and Recovery To 2030” – https://www.reportlinker.com/p06097038/?utm_source=GNW
, Cisco System Inc., Oracle Corporation, Alibaba Group Holding Limited, and Red Hat Inc.
The global infrastructure as a service (iaas) market is expected to decline from $56.94 billion in 2020 to $44.44 billion in 2021 at a compound annual growth rate (CAGR) of -22%. The high growth is mainly due to growth in online services due to COVID-19 that increased demand for IaaS. The market is expected to reach $74.63 billion in 2025 at a CAGR of 13.8%.
The infrastructure as a service (IaaS) market consists of sales of computer infrastructure by entities (organizations, sole traders and partnerships) that provide IaaS on-demand through an internet platform.IaaS refers to providing access to computer infrastructure through networked servers.
The market comprises of revenue generated by the establishments providing IaaS host hardware, software, servers, storage and other infrastructure components for their users.These components include networking features, computer hardware, space for data storage, system maintenance, backup and resiliency planning.
Only goods and services traded between entities or sold to end consumers are included.
The infrastructure as a service (IaaS) market covered in the report is segmented by deployment type into public cloud, private cloud, hybrid cloud; by application into managed hosting, storage as a service, disaster recovery as a service and backup, compute as a service (CaaS), network as a service (NaaS), content delivery services, high-performance computing as a service (HPcaaS); by end user into small and medium enterprises (SMEs), large enterprises; by industry into vertical: banking, financial services, and insurance (BFSI), government and education, healthcare, IT and telecom, retail, manufacturing, media and entertainment, others; by operation into rechargeable, non-rechargeable.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Privacy and data protection concerns are expected to hinder the growth of infrastructure as a service market during the forecast period.The typical IaaS security threats are data leaks, compromising accounts and authentication bypass, interface and API hacking, cyber-attacks, permanent data loss, lack of awareness about capabilities the cloud offers, vulnerability of applications and abuse of cloud services.
According to 2020 Global Networking Trends report published by Cisco, by 2022, more than 50% of enterprise data will be created and processed outside the data centre or cloud, an increase from less than 10% in 2019.With the increasing distribution of data, I&O organizations face challenges to provide data protection and management.
Thus the privacy and data protection concerns which pose challenges to the service providers are expected to hinder the market growth.
In July 2020, VMware, Inc., a US-based publicly traded software company that provides cloud computing and virtualization software and services, has acquired Datrium, Inc. for disaster recovery as a service (DRaaS) and hyperconverged infrastructure (HCI) capabilities for an undisclosed amount. The major advanatge from the acquisition is that an end-to-end cloud driven user experience is delivered by the Datrium DRaaS solution in VMware Cloud on AWS. Datrium, Inc., a US-based hybrid cloud computing and data management company which is a global provider of tier 1 hyperconverged infrastructure (HCI) for hybrid clouds that merges tier 1 HCI, scale-out backup and cloud disaster recovery for protection of hybrid cloud infrastructure, for easy administration and higher IO performance.
Rise in cloud adoption across several industry verticals such as banking, financial services and insurance (BFSI), government and education, healthcare, IT and telecom, retail, manufacturing, media and entertainment, and more at a rapid pace is expected to propel the market growth of infrastructure as a service market during the forecast period.Several industries are adopting IaaS owing to benefits such as low cost and improved reliability and scalability.
The banking sector is one such where a higher rate of Iaas adoption is witnessed due to the substantial benefits of cloud computing including data analytics, AI-driven analytics with machine and deep learning algorithms, agility and scale.Cloud computing allows banking organizations to make changes and add new functionality quickly.
In 2019, according to the Right Scale’s annual State of the Cloud Report, around 94% of enterprises use cloud services among which most enterprises utilize both public and private cloud services; the public cloud was used by 91% of businesses, the private cloud was used by 72%, and hybrid cloud solution was used by 69%.By 2020, 83% of enterprise workloads will be in the cloud.
Many organizations expect to increase their cloud spend budget by almost 50%. Thus, the rise in cloud services adoption due to the benefits they offer across various industry verticals is majorly driving the infrastructure as a service market growth.
Distributed cloud, referred to the availability of public cloud services in different physical solutions while the provider remains responsible for the operation, governance, updates and evolution of the services, is expected to be one of the major opportunities for the development of the infrastructure as a service market.This distributed cloud model is advantageous to the organizations that have faced issues related to the physical locations in the past.
This will allow infrastructure and operations organizations to place the public cloud services at the locations of their choice which will attract consumers who are willing to modernize using the public cloud.The rise of Edge cloud computing and multi-cloud computing will eventually result in the rise to the concept of distributed cloud.
By 2020, organizations such as Amazon Web Services Outposts, Google Cloud Anthos, and Microsoft Azure Arc., have initiated the edge cloud computing. With the increase in different industry verticals towards cloud-based services, the trend of distributed cloud which overcomes the challenges of physical location constraints will prove to be one of the major opportunities for the market growth during the forecast period.
The countries covered in the market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report: https://www.reportlinker.com/p06097038/?utm_source=GNW
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