Infrastructure as a Service (IaaS) is a form of cloud computing that offers virtualized computing resources such as software, storage, servers, and other infrastructure components over the internet. Organizations are widely implementing IaaS solutions to handle huge volume of financial data, and critical information related to the various verticals and thereby reduce IT administration cost. Moreover, IaaS enables to quickly scale-up resources to accommodate spikes in demand and helps organizations to focus on their core business.
The Global Infrastructure as a Service (IaaS) Market is estimated to witness a CAGR of 18.6% during the forecast period 2017-2023. The Infrastructure as a Service (IaaS) Market is analyzed by deployment model, solutions, verticals, and regions. Many organizations are heavily investing in IaaS solutions to expand their market, improve user experience, and increase revenue. Further, the increasing penetration of hybrid cloud, rising demand from small and medium-sized enterprises (SMEs) and governments, economic growth, and scalable resources are the prime factors driving the IaaS market growth.
The Infrastructure as a Service (IaaS) Market has been segmented and analyzed by North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is the leading region followed by Europe for Disaster Recovery as a Service (DRaaS) adoption. Asia Pacific is an emerging market for IaaS. More than 60% of the companies are planning to adopt both on-premises and cloud-based models in this region. More than 40% of the IT leaders will be moving their applications to the cloud by the end of 2017. Latin America is the fourth fastest growing region across the world. Brazil is the fastest growing country in Latin America and more than 40% of the IT spending is from Brazil. Moreover, MEA is an emerging market for IaaS adoption due to the transition from traditional on-premises deployment to the cloud-based deployment of various solutions across myriad industries.
The major verticals covered in the report include IT & Telecom, Banking, Financial Services, and Insurance (BFSI), Healthcare, Retail, Manufacturing, Government, Utility Sector, and Others. Globally, the leading cloud players in the market are showing increased interest toward IaaS adoption. The IT & Telecom and BFSI sectors are the leading contributors in the Infrastructure as a Service (IaaS) Market after the government and healthcare sector. The market for retail is estimated to reach $6.59 billion by 2023. Rising prominence of mobile commerce, digital business, and online marketing are expected to support the growth of IaaS applications in the retail segment. In the Asia Pacific region, more than 30% of the retailers are projected to adopt cloud technologies.
Oracle Corp., IBM Corp., Microsoft Corp., Google Inc., Amazon.com, Inc., Cisco Systems Inc., VMware Inc., Computer Science Corp. (CSC), Citrix Systems, Inc., ProfitBricks, Giant Swarm, and Unitas Altas are the major players in the market.
IaaS is becoming a pervasive technology in the cloud environment. There exist huge untapped business opportunities in this market. Many SMEs are entering into the market and collaborating with large players to provide various solutions and services. New start-ups are coming with new applications and services in the market and they are expecting to see double-digit growth in the next 5–6 years. In this space, collaboration and M&A are expected to continue.