Cloud Infrastructure Services Market to Reach USD 446.275 Billion by 2032, at 17.63% CAGR - Market Research Future (MRFR)
Market Research Future
Updated 6 min read
Market Research Future
Cloud Infrastructure Services Market is growing due to the recent infiltration of smartphones, smart devices, and other consumer electronic products has dramatically pushed the need for public cloud services.
New York, US, May 20, 2023 (GLOBE NEWSWIRE) -- According to the research report published by Market Research Future (MRFR), “Cloud Infrastructure Services Market By Offering, By Type, By Technology, By Application - Forecast to 2030”, the market is predicted to thrive substantially during the assessment era from 2023 to 2032 at a healthy CAGR of approximately 17.63% to attain a valuation of around USD 446.275 billion by the end of 2032.
The most significant business benefits of a successful cloud infrastructure are improved flexibility & scalability, business continuity, cost efficiency, collaboration, and automatic software updates. Implementing cloud infrastructures also helps these businesses gain enhanced mobility, automation-enabled agility, and UX. Cloud infrastructure provides organizations with high flexibility and unlimited storage space, enabling them to scale up or down to meet demand.
Data stored in the cloud helps maintain business continuity, mirroring across another server/location. Organizations are increasingly implementing cloud infrastructures to achieve data center modernization, agile engineering environments, resilient web platforms, intelligent data platforms, enterprise cloud applications, and workplace cloud solutions.
Scope of the Report - Cloud Infrastructure Services Market:
Report Metrics
Details
Cloud Infrastructure Services Market Size by 2032
USD 446.275 billion
Cloud Infrastructure Services Market CAGR during 2023-2032
17.63%
Base Year
2022
Forecast
2023-2032
Report Coverage
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Key Market Dynamics
The recent infiltration of smartphones, smart devices, and other consumer electronic products has dramatically pushed the need for public cloud services.
Cloud infrastructure services are proven viable solutions for services or products on demand through delivery models preferred increasingly. This, as a result, drives the cloud infrastructure services market size. The rising adoption of public cloud system infrastructure services and cloud computing services majorly defines the growing market landscape. The market perceives rampant growth, demonstrating a vast growth potential in the future.
Increasing investments and spending on cloud deployment of enterprise storage systems, networking hardware, databases, applications, and firewalls boost the market share. Additional factors substantiating the market size include increasing usages of cloud-based applications for data storing and growing numbers of businesses. Cost-effective, cloud-based applications are increasingly adopted among enterprises due to their economical data storage advantage.
The growing usage of the cloud-based application has been encouraging the uptake of this technology among businesses to efficiently manage their IT operations, which, in turn, drives the market growth. On the flip side, factors such as high bandwidth costs, frequent monitoring & control needs, and security & performance management concerns impede market growth in a slow cloud provider network.
Market Segmention:
The cloud infrastructure services market report is segmented into design services, deployments, verticals, and regions. The design service segment is sub-segmented into IaaS, PaaS, SaaS, BpaaS, content delivery network/application delivery network, managed hosting, and colocation hosting.
The deployment segment is sub-segmented into public, private, and hybrid. Of these, the public segment dominates the market due to increased penetration of connected devices and growing digital transformation & automation among small & medium-sized businesses.
On the other hand, the hybrid cloud segment witnesses rapid growth due to the increasing use of cloud-based solutions among SMEs to increase productivity and reduce operational costs. The private cloud segment perceives huge adoption across large enterprises due to the rising demand for scalable, secure, and cost-effective solutions.
The vertical segment is sub-segmented into BFSI, manufacturing, retail, energy, logistics, research & development, media & entertainment, education, healthcare, and others. Of these, the BFSI segment dominates the market due to the increased deployment of cloud-based software and mobile applications.
Also, retail, manufacturing, energy, logistics, research & development segments are growing significantly due to increased government and cloud provider initiatives and investment plans to support the adoption of cloud professional services among start-ups. By regions, the cloud infrastructure services market is sub-segmented into the Americas, Europe, APAC, and Rest-of-the-World.
North America dominates the global cloud infrastructure services market. The increased adoption of cloud-based IT services among many organizations in this region boosts the cloud infrastructure services market size. Moreover, the presence of major technology providers and heavy investments in IT infrastructure development and R&D Centers for cloud technologies drive the regional market growth.
Europe accounts for the second-largest market for cloud-Infrastructure services globally. The region shows positive signs towards cloud infrastructure service adoption owing to the availability of some of the best cloud services. Additional factors positively impacting the cloud infrastructure services market growth include the proliferation of advanced technologies, Internet, IoT devices, and smart connected devices in the region.
The cloud infrastructure services market in the Asia Pacific region is growing briskly. Factors such as the increasing demand for cloud managed services and managed infrastructure like cloud-based enterprise resource planning (ERP) in China, India, and Japan boost the regional market size. Furthermore, redesigning of network and deployment of cloud-based services across various industries in the APAC countries influence the market growth.
Ask For Customization - Submit a request to customize the report according to your unique requirements.
The cloud infrastructure services market appears fragmented due to the competitive landscape formed by many notable players and new entrants. Product launch, agreement & partnership, M&A, and expansion are some of the strategic initiatives traced from the recent proceedings in the market.
Leading global digital ecosystem enablers partner with cloud companies to drive their cloud adoption and transform businesses.Suchpartnerships help these players expand their managed public cloud services portfolio with cloud capabilities.
For instance, on May 16, 2023, Oracle announced that FedRAMP has approved new Oracle cloud infrastructure (OCI) services, making more cloud services available to US government agencies, including civilians, defense, and the intelligence community.
Oracle is committed to providing innovative cloud services to its government customers, enabling them to modernize services and infrastructure by delivering the highest security features available on the market. Government agencies can now leverage FedRAMP-authorized cloud services to meet their needs, ensuring extensive measures to protect their technology, processes, and people.
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
