The Cloud Infrastructure as a Service (CIaaS) market is forecasted to grow at a high rate owing to the changing market trends and agility with increasing IaaS benefits
The Global Cloud Infrastructure as a Service (CIaaS) Market is growing at a CAGR of 18.1% and is projected to reach USD 275.2 Bn by 2027.
According to the global Cloud Infrastructure as a Service (CIaaS) market analysis, the CIaaS market is majorly attributed to the rapid adoption of edge computing as a mainstream to bring computation and data storage closer to the sources of data. Edge computing is expected to improve response time and save bandwidth. Several companies are increasingly focussing on providing edge computing solutions to increase speed, scalability, and security among others. For instance, in October 2021, Lenovo Limited partnered with VMware, Inc., an American cloud computing and virtualization technology company to launch a first-to-market edge-to-cloud and AI solutions. New solutions are expected to provide management simplicity, greater scalability, and cost savings, allowing organizations customers with large SAP HANA databases to leverage hyper-converged infrastructure for their SAP HANA platform.
Based on organization size, the small and medium-sized enterprises are holding a major segment of the global cloud infrastructure as a service market. The small and medium scaled enterprises are shifting to cloud infrastructure owing to benefits provided by the cloud infrastructure such as flexible storage, CRM management, data security, omnipresent resource mapping, and 0% downtime among others.
The IT and telecommunications sector based on the end-use industry is estimated to use cloud infrastructure services as the IT industry generates huge financial, personal, and healthcare data, the cloud infrastructure enables IT companies to store that data with security assurance, at a low cost. Many companies are adopting cloud infrastructure services and solutions to lessen operational costs and prevent data losses. For instance, in October 2021, TelcoDR has announced approximately USD 1.0 billion Telco Transformation Fund to shift to the public cloud.
Global Cloud Infrastructure as a Service (CIaaS) Market by Region Outlook (Revenue, USD Billion, 2021-2027)
North America held the largest market share for global cloud infrastructure as a service market in the year 2020 and is estimated to observe a high growth rate throughout the forecast period owing to the increasing focus on the adoption of digital business strategies. According to the article published by McKinsey, the CIOs and CTOs are needed to adopt the cloud platforms to accelerate the digital transformation of the business. Companies present in North America are observed to increasingly focus on digitally transforming their local bossiness and therefore the adoption of cloud infrastructure is estimated to grow in the region during the forecast period.
The Global Cloud Infrastructure as a Service (CIaaS) Market Segmentation:
Key Findings:
Company Profiles and Competitive Intelligence
The key players operating in the cloud infrastructure as a service market are:
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