Cloud Infrastructure Service Market to Reach USD 262.13 billion by 2028
Cloud Infrastructure Services market was valued at USD 89.46 billion in 2019 and is expected to reach USD 262.13 billion by the year 2028, at a CAGR of 16.60%.
Cloud infrastructure are a kind of software and hardware components that includes virtualization software, storage, management tools, networking, servers as well as services that support the computing necessities of a cloud computing model. Whereas, the cloud infrastructure services are primarily type of services that are used for cloud computing. Cloud infrastructure also involves an abstraction layer which virtualizes and further presents services to the end users through API-enabled command-line, application programming interfaces and graphical interfaces. Now-a-days, cloud computing has turned to be an important platform through which many small, medium or large organizations can conceive digitization in the IT infrastructure. Furthermore, the major vendors who provide the cloud infrastructure services are planning and executing strategies for advancement of cloud disaster recovery and backup, hybrid or multi-cloud, and serverless modern cloud computing which is thereby expected to drive the market growth of cloud infrastructure services in the forthcoming years.
Major Key Players for Cloud Infrastructure Service Market:
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Market Dynamics and Factors:
Over the past few decades, it has been observed that there has been an immense development in the cloud-based IT services and infrastructures. The low costs, reliability, agility, high-level security, flexibility and vast scalability are the key factors that drives the growth of cloud infrastructure service market. Furthermore, increasing awareness among the large, small or medium enterprises regarding the benefits of cloud, rising government investments in digital transformation, high demand from business for cloud storage, backup and disaster recovery are other major factors that fuel the market growth. However, fear among businesses that the confidential data maybe vulnerable to cyberattacks may hinder the market growth.
Cloud Infrastructure Service Report Highlight:
- By services, the disaster recovery and backup as a service is the most dominating segment of the cloud infrastructure services market. Organizations may face loss of data by any means, which can negatively impact the business growth, and thus the disaster recovery and backup segment helps in accessing the data anywhere by maintaining a backup.
- By deployment model, the public cloud segment holds the largest market share in the cloud infrastructure service market. The key features such as flexibility, ease of deployment, utility-style costing and scalability drives the growth of this segment.
- By industry verticals, the IT & Telecom segment dominates the market growth of cloud infrastructure services in the recent years. IT sector experts find it more convenient as they get speed to the market, the efficiency is increased, data security levels are high and flexibility is maintained.
- By region, North America is the major dominant region in the cloud infrastructure service market. Owing to the rise in cloud-based IT services as well as increasing acceptance and investments by major companies, this segment will further witness a rapid growth.
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Key Industry Development:
- In March, 2022, Oracle Cloud Infrastructure announced the launch of new Services and capabilities that are focused on giving their customers even more flexibility
- In July, 2021, Confluera declared the launch of industry’s first Cloud extended Detection and Response (CxDR) solution that protects cloud-native environments from modern threats.
Cloud Infrastructure Service Segmentation:
- Computing as a service
- Storage as a service
- Disaster recovery and backup as a service
- Networking as a service
- Desktop as a service
- Managed hosting
By Deployment model
- Public cloud
- Private cloud
- Hybrid cloud
By Industry Vertical
- IT & Telecoms
- Government & Public Sector
- Retail & Consumer Goods
- Healthcare & Life Sciences
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Scope of the Report:
The objective of the research is to provide the market knowledge and strategic insights to assist decision-makers in making informed investment decisions and identifying potential gaps and growth opportunities. Historical revenue and sales volume are reported, and additional data is triangulated using top-down and bottom-up methodologies to predict forecast numbers for important regions covered in the research, as well as classified and well-known Types and end-use industries. Cloud Infrastructure Service study explores the competitive landscape of the global market. In addition to rival market share research, in-depth profiling, product/service, and business overviews, the study focuses on BCG matrix, heat map analysis, and SWOT analysis to better correlate market competitiveness. Five forces analysis, Ansoff matrix, PESTEL analysis, and value chain analysis are used to better understand market conditions.
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