The infrastructure as a service (IaaS) was estimated to be US$ 54.01 billion in 2020. The global market is expected to reach approximately 54.01 billion in 2020. The total industry is expected to grow at a CAGR of 31.2% over the forecast period. Although public cloud solutions tend to be more cost-effective than on-site infrastructure investment, the granular nature of their billing which reflects specific usage across different resource types can contribute to the cloud bill being higher than anticipated. With a hybrid cloud solution, organizations can ensure their workload is held in the right place, based on their needs. This may mean that not all data sets need to be in the cloud, ensuring greater control over cost management. Hybrid cloud solutions allow organizations to balance usage across multiple systems in order to maintain data sovereignty where it’s required, while still leveraging the flexibility and scalability of the public cloud in other circumstances.
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AWS, Microsoft and Google have benefited significantly from the COVID-19 pandemic situation prevailing across the globe as companies scrambled to adopt technologies that enable remote work at scale, and enterprises are more likely to enjoy flat costs or price cuts. Enterprises likely don’t need to brace themselves for profiteering on the part of hyperscalers, even as the pandemic gives them more leverage and influence. And a hike in prices in the current conditions may prove disastrous to a provider’s reputation and trust level among customers. However, the public cloud services rose by 19% in 2020 with cloud-based telephony and messaging growing by 9% and cloud-based conferencing up 26%. AWS reduced the price of its Macie data security service by 80%. Oracle, which runs a distant fourth place in market share behind AWS, Microsoft and Google for cloud services, used its recent virtual Cloud Day conference to tout its 50% percent cost savings compared to AWS. Cloud platform provider named DigitalOcean is dwarfed in size by the hyperscalers. But it also saw a jump in business during the pandemic.
Infrastructure as a Service (IaaS) Market:
By Solution
- Managed hosting
- Disaster Recovery as a Service
- Storage as a Service
- Colocation
- Network management
- Content delivery
- High Performance Computing as a Service
- Others
By Deployment Type
- Public cloud
- Private cloud
- Hybrid cloud
By End User
- Small and Medium Businesses
- Enterprises
By Vertical
- IT and Telecom
- Banking, Financial Services, and Insurance (BFSI)
- Healthcare
- Retail and E-commerce
- Government and Defense
- Energy and Utilities
- Manufacturing
- Others
By Geography
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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