26 December 2018 – The Global Infrastructure as a Service Market is expected to witness an exponential growth by 2022 with a double digit CAGR. Several growth drivers such as faster implementation, scalability, flexibility, agility as provided by the market, increased competition in the market, increased demand for reducing investments on information technology dependent infrastructures, hardware, increased skilled resources are expected to bolster the growth of this market from 2015 to 2022.
Infrastructure as a service is a type of cloud computing. Iaas came into picture to pool the resources related to physical computers to virtualization such as servers, load balancers, bandwidth, network connections. For the past two years organizations and enterprises are shown heavy adoption of “service” in the form of cloud infrastructure. These are called cloud service providers or CSPs. Organizations have shown increased adoption because of growing volume of sensitive data which includes several financial transactions, customer details, order requests, invoices to mention a few. In order to manage these huge volume of data organizations have shown increased dependency on next generation technologies such as infrastructure as a service.
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IT and telecom sector is expected to project robust growth in the infrastructure as a service market because these two sectors generates huge volume of data every day. 360-degree customer oriented sectors such as BFSI have shown the highest usage of infrastructure as a service platform to store financial and business data with tight security. So high usage of different managed services such as hosting, StaaS, DRaaS help business with flexible strorage capacities and cost effective operations.
The global market for service as an infrastructure is segmented on the basis of solutions, end users, deployment, vertical and geography. By solution the market is divided into managed hosting, disaster recovery as a service, storage as a service, collocation, network management, content delivery and high performance computing as a service. By end users the market is classified based on enterprises and SMBs. By deployment type the market is further divided into public cloud, private cloud and hybrid cloud. Infrastructure as a service has application on different verticals such as Information Technology and Telecom, Banking and Financial services (BFSI), healthcare domain, retail and e commerce domain, government and defense sector, media and entertainment sector, energy and utilities, manufacturing and others.
Increase in the trend of digitalization, internet adoption of smart devices will act as growth drivers from this region. The main contributing countries identified are India, china, brazil, Australia, South Korea and Japan.The key players in the market are technological giants such as IBM, CISCO, Wipro, Infosys, AWS, Google, Amazon, CSC, VMware, Rackspace and others.
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Market segment by Type, the product can be split into
- Private Cloud
- Public Cloud
- Hybrid Cloud
Market segment by Application, Infrastructure as a Service can be split into
- IT and Telecom
- Banking, Financial Services, and Insurance (BFSI)