27 May 2019, The global cloud
infrastructure services market is subject to witness a substantial
growth due to the advent of intelligent devices, for example, smart glasses and
smart watches. Cloud computing performs various business processes such as
accumulating, evaluating, and stacking real time data generated by the IoT
devices. Moreover, growing web users and rising implementation of digital
services are propelling the growth of the market in recent years.
Higher consummation of data services is likely to spur edge computing
market expansion with increase in the adoption of cloud infrastructure
services. Globally, the market is predicted to grow at CAGR of 28.21% in the
forecast period, providing numerous opportunities for market players to invest
for research and development in the cloud infrastructure services market.
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The factors attributing to the growth of the market are
highly secured cloud reserve of employee’s data, easily implementable system
enhancements and updates, alongside numerous advantages over traditional
services. The large organizations are significantly investing in cloud
infrastructure services for embedding into business processes. Though,
custom-based compliances and synchronized enterprise-level human resource
processes with international human resource standards limits the market growth.
The use of the cloud infrastructure services in various
business processes helps to store data and applications by using the web and
main remote servers. Cloud infrastructure services provide users and
organizations to access data and applications rather than installation of
software. In addition, cloud infrastructure services provides remote access to
the essential information at any computer with easy web access. The use of the
cloud infrastructure services offers efficient way of computing by unifying
storage, memory elements, processing power and bandwidth.
The market is broadly categorized into three major
segments based on the deployment type such as public cloud, private cloud and
hybrid cloud. The public cloud is considered as one of the fastest growing segment
in the cloud infrastructure services market with substantial revenue generation
in the last few years. Growing popularity of cloud infrastructure services in
the public cloud segment is attributed to the decline in the cost in comparison
with traditional data center and private clouds. The private cloud segment has
also witnessed substantial growth owing to the increasing demand from small and
medium-sized enterprises.
The market is divided by region as North America, Europe,
Asia-Pacific, Latin America and Africa. North America has shown major growth in
recent years owing to the rise in the implementation of latest technologies for
digitalization of various business processes, increase in the number of
research & development activities in the region and existence of
well-established IT infrastructure.
Asia-Pacific region is predicted to hold major market
share in the cloud infrastructure services market with massive growth in
forecast period. Countries such as India, China, Japan and Singapore are leading
the Asia-Pacific market with better security compliant offerings by vendors,
and need for enhanced control and visibility mechanisms and significant
investment by leading industry players considering potential growth
opportunities in the region. The key players in the cloud infrastructure
services market are Amazon Web Services, Inc., Microsoft Co., Google, Inc., and
IBM Co.
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