Cloud Infrastructure Services Market Projected to Hit USD 447.53 Billion at a 17.63% CAGR by 2030 – Report by Market Research Future (MRFR)
Cloud Infrastructure Services Market Growth Boost by Increased Use of Cloud-Based Technologies to Improve Data Security
New York, US, Nov. 18, 2022 (GLOBE NEWSWIRE) — According to a comprehensive research report by Market Research Future (MRFR), “Cloud Infrastructure Services Market Research Report, by Services, Deployment, Verticals, Industry – Forecast till 2030”, The cloud infrastructure services market will touch USD 447.53 billion at a 17.63% CAGR by 2030, as per the new Market Research Future report.
Cloud Infrastructure Services Market Analysis
In order to enhance integrity, data security, and service delivery, consumers are increasingly adopting cloud-based technologies. These trends, together with rising internet usage & smartphone adoption rates globally, all support market expansion.
Opportunities
Growing Popularity of Technology to offer Robust Opportunities
The technology is getting more popular as a result of its capacity to reduce setup costs, which helps with managing and maintaining backend infrastructure, as well as growth in cost-savings and ROI. This will provide robust opportunities for this market over the forecast period.
Cloud Infrastructure Services Market Key Players
Eminent industry players profiled in the global cloud infrastructure services market report include,
- Microsoft Corporation (U.S.)
- com Inc. (U.S.)
- Fujitsu Limited (Japan)
- International Business Machines Corporation (U.S.)
- Cisco Systems Inc. (U.S.)
- VMware Inc. (U.S.)
- Oracle Corporation (U.S.)
- Google Inc. (U.S.)
- and Hewlett-Packard Enterprise (U.S.).
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Cloud Infrastructure Services Market Restraints
Employee Reluctance to act as Market Restraint
The employee reluctance for refreshing existing skills as well as concerns regarding data loss may act as market restraints over the forecast period.
Cloud Infrastructure Services Market Challenges
Compatibility Concerns to act as Market Challenge
Compatibility concerns related to legacy systems, the need for addressing compliance & regulatory policy needs, high bandwidth costs, unwillingness to retreat controls, security concerns, frequent monitoring and control, & performance management in case of slow cloud provider network may act as market challenges over the forecast period.
Cloud Infrastructure Services Market Report Scope:
| Report Metrics | Details |
| Cloud Infrastructure Services Market Size by 2030 | USD 447.53 Billion |
| CAGR during 2020-2030 | 17.63% |
| Base Year | 2019 |
| Forecast | 2020-2030 |
| Key Market Opportunities | The Cloud Infrastructure Market is a highly competitive market. Moreover, the encouragement by the native Government for spreading and grasping digital services represents a scalable opportunity for the public cloud market to spread its reach. rn The reliance on modern devices for commercial and personal purposes can drive the market need or expectation over the estimated period. |
| Key Market Drivers | The infiltration of smartphones, smart devices, and other consumer electronic products of recent times has dramatically pushed the need for public cloud services. Public cloud services enable organizations and common individuals for storing pertinent information in a safe and secure manner without any hassles. |
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Cloud Infrastructure Services Market Segmentation
The global cloud infrastructure services market has been bifurcated based on verticals, deployment, and services.
By services, IaaS will lead the market over the forecast period.
By deployment, public will dominate the market over the forecast period.
By vertical, BFSI will spearhead the market over the forecast period.
COVID-19 Analysis
Cloud infrastructure services and support services are impacted globally as a result of COVD-19. As businesses utilize service partners for supporting home working arrangements, which in turn gives the market a lift, the current crisis brought on by the pandemic may see work volume grow for many contracts in the short run. One of the prominent factors fuelling the growth of the Cloud Infrastructure Services Market is the increase in data quantities throughout the globe. The market growth is accelerated by rising consumer use of cloud-based technologies to enhance data security, integrity, and service delivery, as well as by widespread smartphone and high internet penetration.
Cloud Infrastructure Services Market Regional Analysis
North America to Head Cloud Infrastructure Services Market
Due to the increased exposure and acceptance of cloud-based IT services as well as the significant investments made by businesses in IT infrastructure in the research and development of contemporary cloud infrastructure, North America currently holds the global market share for cloud infrastructure services.
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Due to the presence of major vendors and the rapid adoption of cloud-based services to reduce the costs of data centers and ensure business continuity, the U.S. is the market leader for cloud infrastructure services. Due to a rise in the usage of cloud-based IT services and significant investments made by businesses in information technology infrastructure for research and development of cloud infrastructure, North America currently controls the majority of the global market for cloud infrastructure services.
Due to the presence of major manufacturers and the rapid use of cloud-based services to reduce the cost of data centers and enhance business continuity, the U.S. dominates the market for cloud infrastructure services. The expansion of the market is related to the presence of significant technology companies like Amazon, Google, and Microsoft. Additionally, a major hub for technology start-ups is located here. Businesses have been encouraged to create cutting-edge cloud platforms by supportive government regulations and favorable economic conditions. Additionally, rising venture capital investments in cloud technology by major players in the tech industry have fueled market expansion. The use of cloud infrastructure services in the region is also primarily driven by the availability of trained labor and the focused emphasis of SMEs and major businesses to enter and grow in North America. The considerable growth market during the projection period will also be driven by rising data volumes and increasing usage of innovative application development technologies. Due to its low pricing, on-demand availability, and enhanced security, the public cloud is rapidly gaining acceptance in this region.
APAC to Have Admirable Growth in Cloud Infrastructure Services Market
Due to the rising demand for well-managed cloud-based infrastructure services like contemporary cloud-based enterprise resource planning (ERP) in nations like India, China, and Japan, the Asia Pacific region’s market for cloud infrastructure services is expected to grow significantly during the forecasted period. During the projected period, the Asia Pacific market is anticipated to post a considerably strong rate of revenue growth. This is because so many governments in the region have launched digital transformation efforts, and because the number of IT service providers has expanded quickly. In order to assure infrastructure usage and promote the quick development and deployment of eGov apps, the MeiTY in India has created MeghRaj, a GI Cloud initiative.
In different places, GI Cloud has a number of distinct cloud computing environments that are built on already-existing infrastructure and adhere to a set of norms established by the Indian government. The National Informatics Centre (NIC) is offering SaaS, PaaS, STaaS, and other national cloud services as part of the MeghRaj project. Similar to this, on August 28, 2021, the Chinese government issued an order requiring Chinese businesses to transfer their data from private cloud service providers like Alibaba and Tencent to the government’s own cloud infrastructure. Such activities are anticipated to fuel market revenue growth in the area.
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Due to the rising demand for managed cloud-based infrastructure services like cloud-based enterprise resource planning (ERP) in countries like China, India, and Japan, the Asia Pacific regional market for cloud infrastructure services is likely to experience the highest growth throughout the forecast period. The redesign of the network and deployment of cloud-based services across a number of industries in the APAC nations are projected to increase the market’s potential for growth.
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