by The infrastructure as a service (IaaS) model delivers fundamental compute and storage capabilities as a service via the cloud. IaaS allows enterprises to outsource the equipment used to support operations, including hardware, storage, networking components, and servers. Customers are able to access virtualized computing resources such as software, storage, infrastructure, platforms via the internet. IaaS enables enterprises to use shared infrastructure resources on a pay-as-you-go model to address busy workloads in a flexible and cost-effective manner. For small and medium enterprises with minimal capital budgets for setting up on-premises infrastructure, IaaS is an attractive option as it allows them to utilize advanced IT infrastructure at lower upfront costs. The global infrastructure as a service (IaaS) Market is estimated to be valued at US$ 64.42 Bn in 2024 and is expected to exhibit a CAGR of 8.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Shift towards hybrid cloud models is a key trend in the IaaS market. Hybrid cloud utilizes a combination of both on-premises private cloud and third-party public cloud services. It allows enterprises to optimize workloads between private and public clouds as per requirements providing flexibility and cost savings. Hybrid cloud adoption has gained traction among enterprises as it helps leverage benefits of both private and public clouds including greater control over sensitive data and operations along with scalability benefits of public clouds. Growing hybrid cloud deployments are expected to drive further growth in the IaaS market during the forecast period.
Porter’s Analysis
Threat of new entrants: The infrastructure as-a-service market requires large upfront investments and has strong economies of scale which pose significant barriers for new entrants.
Bargaining power of buyers: Buyers have high bargaining power due to the availability of numerous providers and product substitutes in the market.
Bargaining power of suppliers: Leading technology companies that provide infrastructure services have considerable bargaining power over buyers.
Threat of new substitutes: Edge computing and hybrid multi-cloud solutions pose a potential threat of substitution to infrastructure as a service.
Competitive rivalry: The market comprises numerous global and regional players resulting in high competitive rivalry.
Key Takeaways
The Global Infrastructure As-A-Service Market Demand is expected to witness high growth over the forecast period owing to increasing demand for scalable and efficient cloud-based solutions.
Regional Analysis: North America dominated the market and is expected to continue its lead, supported by heavy investments in building cloud infrastructure and presence of leading technology players in the region.
Key players operating in the infrastructure as-a-service market are Rubicon Technology Inc., KYOCERA Corporation, Saint-Gobain, SCHOTT AG, Monocrystal, Rayotek Scientific Inc., CRYSTALWISE TECHNOLOGY INC., ILJIN Display CO. Ltd, Namiki Precision Jewel Co., Ltd., Juropol Sp. z o.o.
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Source: Coherent Market Insights, Public sources, Desk research
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