Cloud infrastructure is a virtual space that is accessed using network or the internet. This majorly refers to the services-on-demand. Which means the product delivery or service delivery is developed through a model infrastructure-as-a-service (IaaS), which is a cloud computing delivery model.
The demand in the global cloud infrastructure services is expected to observe a surge in the coming years due to the security, flexibility, agility, and accessibility of these services at an extremely minimal effort. The rising pressure inferable from fluctuating business scenarios and economic conditions are compelling various organizations to select versatile IT solutions, consequently moving to OPEX model given by cloud infrastructure services. This model used to save money and time for the company if appropriately carried out, encouraging the end-users to go for it.
In addition, the organizations of all sizes are continuously settling on cloud infrastructure services to bring down the expense of working space, improve productivity alongside access of information anywhere. Moreover, the backup-as-a-service is relied upon to observe development in the coming years. Companies that need sufficient assets and have less funds to allot in various office heads are choosing cloud infrastructure services to keep up their capacity equipment or infrastructure. The rising support and infrastructure cost are boosting the demand for the market as it helps in reducing the expenses and operational use.
The global cloud infrastructure services market is broadly classified into deployment, service, vertical, organization size, and region. Based on deployment, the market is divided into hybrid cloud, public cloud, and private cloud, where the market is likely to be led by the public cloud. It provides the resources such as CPU, racks, and servers with various other businesses as per the demand. In terms of service, the market is segmented into Compute As A Service, Storage As A Service, Backup As A Service, Networking As A Service, Desktop As A Service, and Managed Hosting. On the basis of vertical, the global cloud infrastructure services market is segregated into BFSI, IT & telecommunications, retail, manufacturing, energy, media & entertainment, healthcare, and others. Based on organization size, the market is categorized into large enterprises and SMEs.
Geographically, North America is estimated to lead the global cloud infrastructure services market over the forecast period. This is credited to the faster process of services delivery and low cost of the services with complete security during the operation of cloud services.
The key players leading the global cloud infrastructure services market are Google, IBM, Oracle, AWS, Microsoft, Verizon, VMware, AT&T, Verizon, and others. Recently, Hana Financial Group migrated its crucial application over the public cloud, in tie-up with Oracle. It aims to improve the operational efficiency and business agility of the application with better fulfillment of the customer demand cost-effectively.