Cloud Infrastructure Market is expected to register the highest CAGR by 2022
Posted by Tom C on March 11th, 2021
According to the new research report on "Cloud Infrastructure Market by Type (Hardware: Server, Storage, Switch, Services: Platform as a Service, Infrastructure as a service, Content/Application Delivery Network, Managed Hosting, Colocation), End-User Industry & Geography - Global Forecast to 2022", the market is expected to be worth USD 209.66 Billion by 2022, at a CAGR of 12.9% between 2016 and 2022.
The growth of this market is majorly driven by increasing ICT spending and trend of big data and analytics; rising demand from organizations for agile, scalable, and cost-effective computing; increasing number of digital services and their applications; and high penetration of hybrid cloud.
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Cloud infrastructure services held the largest market size
Currently, most organizations are investing heavily in developing software and applications that are deployed on-premises. By embracing the cloud services, the storage infrastructure and equipment costs within the organizations are getting optimized due to the faster deployment capabilities, along with business activities and productivity at employees’ end. This fact is increasing the adoption trends of infrastructure as a service (IaaS) and platform as a service (PaaS) in various industries, thereby driving the growth of the market for cloud services.
The cloud infrastructure market for the healthcare industry expected to grow at the highest CAGR during the forecast period
Several healthcare organizations are progressively automating their IT infrastructure to unify the complex IT infrastructures by combining storage, applications, network, and data. Having their IT infrastructure automated, it simplifies healthcare organizations’ patient care and facility management data, which help to optimize the flow of information between the facilities’ equipment, medical systems, and applications. The automation of healthcare organizations’ IT infrastructure can help in simplify command and control through their own protocol and reduce the facilities’ overall cost of operation.
North America accounted for the largest share of the cloud infrastructure market
North America held the largest share of the cloud infrastructure market, owing to the increasing IT capacity requirements and growing adoption of new data center technologies. The market in the U.S. is expected to experience a greater traction as a significant number of organizations would opt for cloud services to save their upfront cost of building new data centers for business continuity. Therefore, cloud providers have an opportunity to expand their customer base by offering solutions according to their growth strategies. The major trends influencing the growth of this market include cost benefits of cloud-based solutions and improving disaster recovery and business continuity across various organizations.
The key players in this market include, IBM Corporation (U.S.), Hewlett-Packard (U.S.), Cisco Systems, Inc. (U.S.), Dell, Inc. (U.S.), EMC Corporation (U.S.), AWS (Amazon Web Services) (U.S.), Alphabet Inc (Google) (U.S.), Salesforce.com (U.S.).
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About the AuthorTom C
Joined: July 2nd, 2020
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