According to a new market report published by Transparency Market Research “Infrastructure as a Service (IaaS) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2022”, the global IaaS Market was valued at US$15.6 bn in 2014 and is expected to grow at a CAGR of 22.1% from 2015 to 2022, reaching US$73.9 bn by the end of forecast period.
Increasing demand for disaster recovery as a service across the world is the most prominent factor encouraging the adoption of IaaS worldwide. In addition, rising penetration of hybrid cloud solutions is bolstering the demand for IaaS, globally. However, privacy issues, higher data security, and evolving needs and growing complexities of the marketplace are expected to restrict the market growth during the forecast period.
The IaaS market is providing a highly competitive cloud computing platform to the companies by enabling shared pool of storage and compute for end-users on on-demand basis. Rising mobility and Bring Your Own Device (BYOD) trends within various end-use sectors are further creating demand for IaaS by facilitating enhanced ease and accessibility to the usage of these solutions. The global IaaS market is expected to witness lucrative growth opportunities in the APAC region due to rising investments and economic growth of emerging markets, which is further driving technology adoption. Hybrid cloud IaaS model is expected to be the fastest growing implementation model for the IaaS market. This is due to the introduction of more enterprises which may look for solutions that are more cost-efficient and ensure better flexibility in outsourcing their IT requirements to the cloud. Thus, the global IaaS market; with its rising applications in large and small and medium enterprises is expected to record 305.6% revenue growth over the forecast period 2015 to 2022.
Geographically, North America led the global IaaS market in 2014, accounting for over 40% of the global market revenue share and it is expected to continue its dominance throughout the forecast period. This is owing to the introduction of cloud-based IaaS solutions which are expected to be mostly adopted by the SMBs as it helps meet their low capital requirements and budgets constraints. Moreover, the introduction of new IaaS applications for different smartphones and tablets is further anticipated to propel the demand for IaaS solutions in this region. The region is also expected to witness high growth due to the evolution of hybrid cloud solutions which offers advantages, such as ease of access, large data storage ability, and security. The growth of the IaaS market in Europe is mainly attributable to demand from Western Europe which is currently witnessing a mature IT market, where companies are investing heavily on software and services. Asia Pacific is expected to be among the fastest growing regions for IaaS, owing to the growing number of small and medium enterprises. In MEA, the market is anticipated to grow due to increasing demand on strengthening ICT capabilities from industry verticals such as oil & gas, construction, healthcare, public institutions and telecommunications. Furthermore, in the Latin America region, the growing usage of social networking, low bandwidth applications, and mobile phones along with the rising private sector demand are seen as dominant factors fueling the growth of IaaS market throughout the forecast period.
>>>>>The Full report can be seen here.