Cloud Infrastructure Services Market Growing at a CAGR 18.0% | Key Player Microsoft, Google, Alibaba Cloud, Rackspace, Oracle

Cloud Infrastructure Services Market Growing at a CAGR 18.0% | Key Player Microsoft, Google, Alibaba Cloud, Rackspace, Oracle

“IBM (US), Microsoft (US), AWS (US), Oracle (US), Google (US), Alibaba (China), Fujitsu (Japan), Rackspace (US), DigitalOcean (US), Verizon (US), VMware (US), CenturyLink (US), Bluelock (US), Dimension Data (South Africa), OVH (France), Joyent (US), Skytap (US), Virtuestream (US), ProfitBricks (Germany), Tencent (China), DXC Technology (US)”
Cloud Infrastructure Services Market by Service Type (Storage as a Service, Compute as a Service, Disaster Recovery and Backup as a Service), Deployment Model, Organization Size, Vertical, and Region – Global Forecast to 2024

MarketsandMarkets expects the Cloud Infrastructure Services Market to grow from USD 73.0 billion in 2019 to USD 166.6 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 18.0% during the forecast period (2019–2024). Increasing digitalization across industries, changing perception toward the cloud, initiatives, and investment by government for adoption of technologies, and the growing awareness of the benefits of the cloud is expected to increase the adoption of cloud infrastructure services across the globe during the forecast period.

Storage as a service segment to hold the largest market size during the forecast period

Enterprises that lack the budget to implement and maintain their storage infrastructure or hardware generally avail this service. The demand for this service is growing as it helps minimize the operational and capital expenditure incurred. Enterprises are rapidly adopting the storage as a service, owing to its pay-as-you-go pricing model. This pricing model helps reduce the cost to a great extent, as the organization needs to pay only for what it has used.

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Public cloud deployment model is estimated to hold the largest market size

The public cloud-based deployment model is witnessing an increasing demand, due to its cost effectiveness and easy availability. The public cloud is based on the cloud computing model, which shares resources (such as CPU, servers, and racks) among various businesses depending on its demand. Public cloud-based solutions require less physical setup and low maintenance, and provides 24/7 accessibility from any time, anywhere. Due to various benefits of public cloud, such as scalability, reliability, flexibility, utility-style costing, and location independence services, public cloud-based deployments are expected to record a high growth rate.

The cloud infrastructure services market includes significant vendors, such as IBM (US), Microsoft (US), AWS (US), Oracle (US), Google (US), Alibaba (China), Fujitsu (Japan), Rackspace (US), DigitalOcean (US), Verizon (US), VMware (US), CenturyLink (US), Bluelock (US), Dimension Data (South Africa), OVH (France), Joyent (US), Skytap (US), Virtuestream (US), ProfitBricks (Germany), Tencent (China), DXC Technology (US), AT&T (US), NEC (Japan), and Navisite (US). These players have embraced various growth strategies to expand their global presence in the market and increase their market shares. New product launches, acquisitions, and partnerships/collaborations are some of the significant strategies deployed by the major players to grow further in the cloud infrastructure services market.

AWS, a business unit of Amazon, is one of the significant providers of cloud infrastructure services across the globe. The company has a strong customer base across 190 countries in the region of North America, Europe, APAC, and MEA. The company provides a broad range of cloud infrastructure services including compute, storage, network, database, and other services to its global commercial clientele. AWS has focused on organic growth through product innovations. These products enable efficient management of the cloud infrastructure on AWS. The company provides cloud infrastructure offerings which provide easy and secure access to critical data at low costs with the flexibility to optimize resources as per the business needs. For instance, in July 2018, AWS released EC2 compute instances for its Snowball Edge appliance. The availability of EC2 compute instances is expected to give the system an edge over other appliances that target such environments AWS is emerging as the worldwide leader in cloud services with data center expansions in APAC, providing customers with a choice in data locality and even lower latency. In the coming years, the company is expected to reinforce its current leadership position in the cloud market through long-term investments for developments rather than aggressive short-term investment.

Microsoft is a leading provider of platforms for enterprise solutions, such as mobile and cloud-based environments. The company offers a vast array of services, including cloud-based solutions, which provides its commercial clientele with software, services, and platforms. Microsoft also provides its users with economic and convenient products that are integrated with the latest technological solutions and services. Microsoft offers its products and solutions to a plethora of industry verticals, such as automotive, consumer packaged goods, education, energy, financial services, government, healthcare, and hospitality. The company is globally present in the region of North America, APAC, MEA, Europe, and Latin America

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Microsoft’s strategy requires it to continuously invest in data centers and other infrastructure to support devices and services. It primarily focuses on developing and marketing both software and hardware services. The company has focused its strategic efforts on partnerships to strengthen its position in the market further.

  • In July 2019, Microsoft collaborated with AT&T to offer innovation with the advanced technologies including cloud, AI, and 5G. As per this strategic alliance, Microsoft is offering its cloud services to AT&T for achieving its broader public cloud-first strategy. The global scale of Microsoft’s Azure cloud and AT&T’s domestic 5G capabilities would enable unique solutions for their mutual customers. Moreover, the companies would bring to market integrated industry solutions in the areas of voice, collaboration and conferencing, intelligent edge and networking, Internet of Things (IoT), public safety, and cybersecurity.
  • Furthermore, In May 2018 Microsoft partnered with Red Hat to introduce the first jointly managed OpenShift offering in the public cloud, combining the power of Red Hat OpenShift and Azure, Microsoft’s public cloud.

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