by The infrastructure as-a-service (IaaS) delivers computer infrastructure like servers, storage, networking, software and other resources as an online service on demand. IaaS allows businesses to avoid upfront infrastructure costs and focus on projects that differentiate their firms. The global infrastructure as-a-service Market provides on-demand infrastructure solutions including data storage, virtual servers, firewall protection, identity management, and more. The global Infrastructure As-A-Service Market is estimated to be valued at US$ 64.42 Bn in 2023 and is expected to exhibit a CAGR of 8.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The rising adoption of cloud services is one of the major trends driving the growth of the infrastructure as-a-service market. Cloud services provide scalability, accessibility and affordability which is encouraging more organizations to adopt cloud-based solutions. According to recent surveys, nearly all organizations now leverage cloud services in some form. This widespread reliance on cloud is propelling the demand for IaaS as it allows cloud deployment without huge upfront investments.
SWOT Analysis
Strength: Infrastructure as a Service (IaaS) offers flexiblity and scalability enabling businesses to scale resources up or down depending on requirements. This enables optimizing infrastructure costs.
Weakness: Managing IaaS infrastructure requires specialised skills that some organisations may lack. There are also concerns around vendor lock-in and data security.
Opportunity: Growing demand for cloud services provides opportunities for IaaS providers to expand offerings and customer base. Many organisations are moving workloads to cloud to optimize IT costs.
Threats: Competition in the market from other cloud providers poses pricing pressure. Strict data regulations in some countries pose compliance challenges.
Key Takeaways
The Global Infrastructure As-A-Service Market Demand is expected to witness high growth. With increasing cloud adoption across industries, especially amongst small and medium enterprises, the demand for scalable and flexible IaaS solutions is growing steadily.
Regional analysis: North America currently dominates the global IaaS market owing to high technology adoption. The US and Canada are the largest markets. The Asia Pacific region is expected to grow at the fastest pace during the forecast period supported by ongoing digital transformation initiatives across industries in emerging nations such as China, India. Countries in this region offer lower costs of operations which attracts global IaaS providers to expand presence.
Key players: Key players operating in the Infrastructure as a Service (IaaS) market are Rubicon Technology Inc., KYOCERA Corporation, Saint-Gobain, SCHOTT AG, Monocrystal, Rayotek Scientific Inc., CRYSTALWISE TECHNOLOGY INC., ILJIN Display CO. Ltd, Namiki Precision Jewel Co., Ltd., Juropol Sp. z o.o. The players focus on expanding service offerings and presence globally by partnering with other players to address diverse customer needs. They also undertake mergers and acquisitions to strengthen capabilities.
Note:
Source: Coherent Market Insights, Public sources, Desk research
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