Cloud Infrastructure as a Service (IaaS) Market Size, Share, Opportunities, And Trends By Deployment Model (Public, Private, Hybrid, Community), By Application (Testing and Development, Big Data Analytics, File Storage, Others), By End-Use Industry (BFSI, Healthcare, Education, Communication and Technology, Media and Entertainment, Retail, Government, Others), And By Geography - Forecasts From 2025 To 2030

The cloud infrastructure as a service (IaaS) market is projected to grow at a CAGR of 20.57% during the forecast period.

Infrastructure as a service (IaaS) is a standardised, highly automated cloud computing service in which a service provider's computer resources, supported by storage and networking capabilities, are made available to clients on demand. Under an IaaS service model, a cloud provider hosts the infrastructure components that would typically be found in an on-premises data centre. This includes the virtualization or hypervisor layer, as well as servers, storage, and networking equipment.

Low costs, scalability, flexibility, and security are the key growth drivers for the market. Cloud infrastructure service offerings provide faster Time-to-Market (TTM) and application development and deployment procedures. Furthermore, the growing demand for companies to reduce operating expenses and IT infrastructure maintenance is driving the use of cloud infrastructure services.

Growth Factors:

• Benefits of IaaS:

Several industries, including banking, financial services and insurance (BFSI), government and education, healthcare, information technology and telecommunications (IT&T), retail, manufacturing, media and entertainment, and others, are embracing IaaS due to benefits such as lower costs and increased reliability and scalability. Due to the huge benefits of cloud computing, such as data analytics, AI-driven analytics using machine and deep learning algorithms, agility, and scale, the banking sector, in particular, has seen a significantly higher rate of IaaS adoption. Banking companies can swiftly make adjustments and add new features owing to cloud computing.

Restrains:

• Rising Concerns of Data Losses:

Concerns regarding privacy and data protection are expected to hinder the expansion of the cloud IaaS market. Data leaks, compromised accounts, and authentication bypass, interface and API hacking, cyber-attacks, permanent data loss, lack of understanding of cloud capabilities, application vulnerability, and exploitation of cloud services are all common IaaS security risks. On June 20, 2021, A CVS Health cloud database misconfiguration left over a billion records exposed. A total of 1,148,327,940 records belonging to CVS Pharmacy and Aetna were identified which contained information like Visitor ID, Session ID, and device information.

Impact of Covid-19:

Due to the shift of business operations online, the COVID-19 pandemic has accelerated market growth for cloud IaaS. Businesses continued to invest in cloud infrastructure, platforms, and software in order to increase the stability of their business operations and prepare for future pandemic outbreaks. Work from home became the only efficient and safe method of conducting business due to the mandated lockdowns, thus necessitating cloud services for effective collaboration, communication, and processing of massive quantities of data between different enterprises and teams.

Competitive Insight:

• October 2021 - Microsec.ai released the first agentless multi-cloud infrastructure as a service runtime protection solution
• October 2021 - ActZero developed MDR, for controlled detection and monitoring of cloud-based services.

Market Segmentation

• By Deployment Model
  • Public
  • Private
  • Hybrid
  • Community
• By Application
  • Testing and Development
  • Big Data Analytics
  • File Storage
  • Others
• By End-Use Industry
  • BFSI
  • Healthcare
  • Education
  • Communication and Technology
  • Media and Entertainment
  • Retail
  • Government
  • Others
• By Geography
  • North America 
    • United States
    • Canada
    • Mexico
  • South America 
    • Brazil
    • Argentina
    • Others
  • Europe 
    • UK
    • Germany
    • Italy
    • Spain
    • Others
  • Middle East and Africa 
    • Israel
    • Saudi Arabia
    • Others
  • Asia Pacific 
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Taiwan
    • Thailand
    • Indonesia
    • Others

Amazon Web Services

Microsoft Azure

IBM

Google

Salesforce.com

Adobe

SAP

Rackspace

Alibaba

Huawei