Global Cloud Infrastructure as-a-Service Market Growing at CAGR 20.5% by 2020-2026

The global cloud infrastructure-as-a-service market was valued at USD XX Bn in 2018 and is expected to reach USD Bn by 2026, growing at a CAGR of 20.5% during the forecast period.

Infrastructure-as-a-service (IaaS), also known as the hardware as a service (HaaS), is an instant computing infrastructure that provides virtualized computing resources over the internet. It offers several benefits to users such as time and cost efficiency, increased safety, and remote monitoring. It also helps in gathering evidence in legal cases. The growing adoption of cloud-based and multi-cloud IaaS platform is one of the major factors in driving the growth of the cloud infrastructure-as-a-service market.

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Apart from these, the rising focus of businesses on improving governance to prevent data losses is a major driving factor for the market. Owing to rising security issues and concerns, governments are focusing on implementing the cloud infrastructure-as-a-service system for the protection of financial and business information and other critical data. Further, rapid technological advancements and innovations are going to drive the shift towards cloud infrastructure-as-a-service during the forecast period.

Additionally, companies are developing advanced security systems for providing enhanced safety and security on premises. For instance, in September 2019, Oracle has partnered with VMware to offer support to customers in implementing hybrid cloud strategies by running VMware Cloud Foundation on Oracle Cloud Infrastructure. It has enabled customers to easily transfer VMware vSphere workloads to Oracle’s Generation 2 Cloud Infrastructure and take advantage of consistent operations and infrastructure.

However, the growing concern about application performance and reliability and lack of technical expertise to manage IT infrastructure are expected to impede the growth of the cloud infrastructure-as-a-service market.

Key Findings:

  • Based on deployment, the public cloud deployment segment is expected to have the highest market share during the forecast period.
  • Based on type, the storage-as-a-service segment is expected to hold the largest share in the market during the forecast period.
  • Based on the organization Size, SMEs are expected to hold the highest market share during the forecast period.
  • Based on applications, the IT & telecom segment is anticipated to have the highest share in the market during the forecast period.
  • Based on regions, the North America is anticipated to capture a significant portion of the global cloud infrastructure-as-a-service market during the forecast period.

Recent News:

  • In April 2019, AWS has opened a new data centre in Hong Kong to expand its global presence and allow its commercial customers to run applications and store their content in data centres in Hong Kong while connecting to the global AWS network.
  • In October 2018, IBM launched an open technology solution named “IBM Multicloud Manager” designed to supervise, transfer, and assimilate apps across various cloud computing infrastructures. The platform is based on Kubernetes container orchestration technology, which enables governance and safety, visibility, and steady application management via a single platform.

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