Cloud Infrastructure Services Market Size to Hit US$ 784.2 Billion by 2032, Driven by Data Volumes Increase and Cost Optimization Needs | Research by SNS Insider

The cloud infrastructure services market is growing with an increase in the volume of global data and the increasing adoption of cloud technology for improved data security, reliability, and service delivery.

Pune, July 10, 2024 (GLOBE NEWSWIRE) — Cloud Infrastructure Services Market Analysis:

“The report of SNS Insider states in 2023, the Cloud Infrastructure Services Market was valued at USD 289.7 billion and predicts the market will reach USD 784.2 billion by 2032, with an increasing CAGR of 11.7% Over the Forecast Period of 2024-2032.”

Growing Demand and Market Opportunities

Increasing internet and smartphone penetration across the world is a key driver for the global cloud infrastructure services market. Growing application of data storage and security solutions, effectively addressed by cloud infrastructure services. The adoption of cloud infrastructure services is driven by edge computing, urbanization, and digitization in every industry. Low costs, scalability, flexibility, and security are the main factors driving growth in the market. The cloud infrastructure services speed up time-to-market (TTM) and rapid application development and deployment processes. Furthermore, the rising demand to reduce IT infrastructure operational expenses is driving many businesses to adopt cloud infrastructure services.  The global surge in data volumes and increasing use of cloud-based technologies by consumers for enhancing data security, integrity, and service delivery, along with the global increase in internet penetration and smartphone usage rates, are all factors driving market expansion. Globally, cloud infrastructure spending surged, and IDC investment in third-party cloud infrastructure products in both dedicated and shared environments grew nearly 18% y/y to $11. This further accelerated the growth of cloud ahead from the non-cloud segment, which grew around 16% year-over-year in a period. the shared cloud remains the top choice, responsible for 44% of overall infrastructure spending in Q4 2023. investments in shared cloud infrastructure resumed, increasing 27.0% year over year to $22 billion for the quarter.

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Major Players Analysis Listed in this Report are:

  • AWS
  • Microsoft
  • Google
  • IBM
  • Alibaba
  • Salesforce
  • Rackspace
  • Fujitsu
  • Digitalocean
  • Dell Technologies
  • Vmware
  • Hewlett Packard Enterprise (HPE)
  • Red Hat
  • Oracle
  • SAP
  • Cisco Systems
  • Adobe
  • Other Players

The prediction in 2024 is that European cloud infrastructure services spending will see an overall mainstream price drift, growing worldwide by around 20 percent. Adjusting for seasonality, the numbers are still good, although insufficiently since it attributes this growth to nothing more than cloud migration and an unprecedented demand in AI applications.

Microsoft collaborated with LSEG in December 2022 to develop advanced data and analytics solutions. this collaboration involves LSEG transferring its data platform and main technology infrastructure to Microsoft’s Azure cloud platform.

Cloud Infrastructure Services Market Report Scope:

Report Attributes Details
Market Size in 2023  US$ 289.7 Bn
Market Size by 2032  US$ 784.2 Bn
CAGR   CAGR of 11.7 % From 2024 to 2032
Base Year  2023
Forecast Period  2024-2032
Historical Data 2020-2022
Key Regional Coverage North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America)
Key Growth Drivers • Cloud infrastructure services are cost-effective through pay-as-you-go models, Reducing the need for initial hardware investments.
• Cloud services allow companies to scale their infrastructure up or down primarily based on demand, offering flexibility and agility.

Segment Analysis

Based on the Deployment Model, the public cloud segment dominated the market and held the highest revenue share of more than 39% and maintaining its dominant position. Public cloud services provide convenience, and ease of use, and investment will be initially reduced. Businesses gain scalability, reliability, flexibility, and value based on usage without the burden of managing their businesses.

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By Vertical, in 2023, the IT and telecom sectors dominated the market and accounted the revenue share of more than 20% of cloud infrastructure services market. The IT and telecom sectors utilize cloud services for developing flexible and productive infrastructure. Hybrid cloud models are gaining traction, allowing agencies to combine cloud and on-premises resources for security and overall performance. This is important for the dynamic IT and telecom industries. Alternatively, it is anticipated that the retail sector will experience a substantial yearly expansion of 11.96% between 2024 and 2032. Retailers are utilizing cloud services to enhance customer experience in supply chain operations and e-commerce systems. Cloud-based answers assist them to manage stock, customise advertisements, and deliver a continuing omnichannel experience. Cloud offerings permit shops to scale resources based totally on demand fluctuations and enhance operational efficiency.

Cloud Infrastructure Services Market Key Segmentation:

By Service

  • Compute Service
  • Storage Service
  • Disaster Recovery and Backup Service
  • Networking Service
  • Desktop Service
  • Managed Hosting

By Deployment model

  • Public Cloud
  • Private Cloud
  • Hybrid Cloud

By Organization Size

  • Small and Medium-sized Enterprises (SMEs)
  • Large Enterprises 

By Vertical

  • Banking, Financial Services, and Insurance (BFSI)
  • IT and Telecommunications
  • Government and Public Sector
  • Retail and Consumer Goods
  • Manufacturing
  • Energy and Utilities
  • Media and Entertainment
  • Healthcare and Life Sciences
  • Others

Regional Analysis

North America region dominated the cloud infrastructure services market, with the highest revenue share of more than 38% in 2023. This development is driven by the increasing utilization of cloud-based IT administrations and reliably expanding interests in research and development exercises. organizations are progressively utilizing cloud-based IT administrations rather than customary on-premises arrangements. The organizations consistently make significant investments in cloud infrastructure research and development (R&D). This makes much more remarkable and flexible cloud arrangements.  The focus on cost-effective service delivery and robust cloud security measures is driving the fastest growth in the Asia Pacific (APAC) region.

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Key Takeaways

  • The cloud infrastructure services market is experiencing significant growth driven by growing data volumes, cost optimization needs, and the increasing adoption of AI-powered solutions.
  • The report provides a detailed analysis of the segment.
  • The APAC region is anticipated to experience the highest growth rate in the future despite the North American region’s dominant position.
  • cloud infrastructure services provide important advantages for companies, such as enhanced data security, increased operational efficiency, and quicker application deployment.

Table of Contents – Major Key Points

1. Introduction

2. Industry Flowchart

3. Research Methodology

4. Market Dynamics

5. Porter’s 5 Forces Model

6. Pest Analysis

7. Cloud Infrastructure Services Market Segmentation, By Service

8. Cloud Infrastructure Services Market Segmentation, By Deployment model

9. Cloud Infrastructure Services Market Segmentation, By Organization Size

10. Cloud Infrastructure Services Market Segmentation, By Vertical

11. Regional Analysis

12. Company Profiles

13. Competitive Landscape

14. Use Case and Best Practices

15. Conclusion

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