Albany, NY , April 05, 2016 (GLOBE NEWSWIRE) -- The global infrastructure as a service (IaaS) market is likely to exhibit a CAGR of 22.1% within a forecast period of 2015 to 2022. The market was valued at US$15.60 bn in 2014. According to a research report released by Transparency Market Research, the global IaaS market is expected to reach US$72.90 bn by the end of 2022. The report, titled “Infrastructure as a Service (IaaS) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2022” is available for sale on the company website. A growing number of applications of IaaS in large as well as medium enterprises will allow the global IaaS market to achieve a 305.6% growth in revenue over the report’s given forecast period.
The primary growth driver, as stated in the report, is the escalating demand for disaster recovery as a service (DRaaS). A large number of organizations are looking to DRaaS for a higher level of data protection. Other prominent factor that is propelling the global IaaS market is the increasing penetration levels of hybrid cloud solutions.
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The report also describes the factors that are restraining the global IaaS market, such as higher data security requirements, and increasing privacy protection concerns. Another major restraint for the global IaaS market is the evolution of the IT industry in terms of marketplace complexities and needs. The report predicts hybrid cloud IaaS to be the fastest-growing model of implementation from 2015 to 2022 owing to the introduction of a large number of enterprises, which are seeking cost-effective and flexible solutions while outsourcing their requirements of IT on to the cloud.
Geographically, the global IaaS market was led by North America in 2014. The region accounted for more than 40% of the global market in terms of revenue. The report expects North America to retain its dominance over the global IaaS market in the given forecast period. This region is expected to witness a high rate of growth due to the increasing rate of smartphone and tablet users, along with the increasing incorporation of hybrid cloud solutions.
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Europe is expected to witness a steady growth since the region is home to a matured IT industry, while Asia Pacific is expected to be the fastest-growing region in the global IaaS market for the forecast period. Latin America IaaS market is expected to expand rapidly due to an increasing use of smartphones, a trend of using low bandwidth applications, and a growing use of social networking portals.
Key players of the global IaaS market are Verizon Communications, Inc., Google, Inc., Hewlett-Packard Development Company, L.P., Interoute Communications Ltd., Dimension Data Plc, Joyent, Inc., Datapipe, Inc., CenturyLink, Inc., Virtustream, Inc., Computer Sciences Corp., VMware, Inc., Amazon Web Services, Inc., NTT Communications Corp., Fujitsu Ltd., Rackspace, Inc., Microsoft Corporation, Oracle Corporation, and IBM Corporation.
Key segments of the Global Infrastructure as a Service (IaaS) Market:
Global Infrastructure as a Service (IaaS) Market: By Implementation Type
- Public Cloud
- Private Cloud
- Hybrid Cloud
Global Infrastructure as a Service (IaaS) Market: By Service Type
- Application Hosting as a Service
Global Infrastructure as a Service (IaaS) Market: By End-users
- Large Enterprises
- Small and Medium Enterprises/Businesses
- Others (Public Sector, Hospitality, Retail, Etc.)
Global Infrastructure as a Service (IaaS) Market: By Geography
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
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Source:Transparency Market Research