Infrastructure as a Service (IaaS) Market Size & Share Analysis, Growth Trends & Forecasts (2021-2030)

According to a new report published by Allied Market Research, titled, "Infrastructure as a Service (IaaS) Market Size, Share, Competitive Landscape and Trend Analysis Report by Component Type, by Deployment Model, by Enterprise Size, by Industry Vertical : Global Opportunity Analysis and Industry Forecast, 2020-2030"

The infrastructure as a service (iaas) market was valued at $51.3 billion in 2020, and is estimated to reach $481.8 billion by 2030, growing at a CAGR of 25.3% from 2021 to 2030.

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Infrastructure as a service (IaaS) refers to online services that provide high-level APIs for accessing different low-level features of underlying network infrastructure, such as physical computer resources, location, data partitioning, scaling, security, and backup. Increase in knowledge of various cloud computing services, such as public, private, and hybrid cloud services, as well as increase in internet penetration in emerging nations and desire for cost-effective and flexible computing services propel the market growth. Furthermore, market expansion is expected to be aided by integration of artificial intelligence and demand for IaaS from SMEs.

Furthermore, growth in demand for low-cost IT infrastructure and faster data accessibility propels growth of the global infrastructure as a service market. In addition, increase in cloud adoption across several industry verticals is also positively impacting growth of the market. However, security concerns over private cloud deployment hampers the market growth. On the contrary, growth in cloud adoption among SMEs is expected to offer remunerative opportunities for expansion of the market during the forecast period.

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Competitive Analysis:
The competitive environment of Infrastructure as a Service (IaaS) Industry is further examined in the report. It includes details about the key players in the market's strengths, product portfolio, Infrastructure as a Service (IaaS) Market share and size analysis, operational results, and market positioning. It comprises the actions taken by the players to grow and expand their presence through agreements and entering new business sectors. Mergers and acquisitions, joint ventures, and product launches are some of the other techniques used by players.

Key Players:
Alibaba Group Holding Limited
Amazon Web Services, inc.
Dell Technologies, Inc.
Google Corporation
Hewlett Packard Enterprise Development LP
IBM Corporation
Microsoft Corporation
Oracle corporation
RACKSPACE TECHNOLOGY, INC.
Redcentric Plc and Many More

Region wise, the infrastructure as a service market was dominated by North America in 2020 as it is home to some of the major players in IaaS, which makes it a lucrative hub for innovation in the market. Amazon Web Services, Inc., a major player in the IaaS market in North America is investing heavily in solutions in the region. However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to high adoption of cloud technology, growth in need to access to new refined functionality, and rise in need to provide business units more direct control over sourcing of their own IT solutions in the region.

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Covid-19 and disruption in workplace environments during the pandemic drove increased demand from existing Microsoft Azure customers to migrate mission-critical workloads, such healthcare applications with AI-assisted bots, digital twins in manufacturing and e-commerce in retail. In addition, companies such as AWS, Microsoft and Google have benefited greatly from the COVID-19 pandemic as companies worldwide scrambled to adopt technologies that enable remote work at scale.

Moreover, there is an economic reason for the uptick in cloud spending amid COVID-19, since they typically involve installment payments and not large up-front purchases. Therefore, it expected to affect the infrastructure as a service industry growth initially along with the opportunity to expand.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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