Market Trends of Cloud Infrastructure Services Industry
This section covers the major market trends shaping the Cloud Infrastructure Services Market according to our research experts:
Public Cloud Holds a Dominant Market Share
- The public cloud-based deployment model sees growing 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 several businesses depending on their demand.
- Public cloud-based solutions need fewer physical setups and low maintenance and provide 24/7 accessibility from any time, anywhere. Due to various benefits of public clouds, such as scalability, reliability, flexibility, utility-style costing, and location independence services, public cloud-based deployments are expected to record a high growth rate.
- Among the public cloud infrastructure service providers, Visual Capitalist states that AWS has over a million active users spread across 190 countries, supporting that AWS covers 41.5% of the entire public cloud market.
- Market vendors are constantly enhancing their products and services to meet the rising demand for public cloud infrastructure. For instance, in June last year, Oracle Cloud Infrastructure (OCI) announced the launch of a new offering - OCI Dedicated Region - that would enable it to offer public cloud services to customers on its premises.
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North America to Drive the Cloud Infrastructure Services Market
- At present, North America is commanding the global cloud infrastructure services market share due to an escalation in the adoption of cloud-based IT services and huge investments by organizations in IT infrastructure in the research and development of cloud infrastructure.
- The U.S. dominates the cloud infrastructure services industry due to the attendance of principal vendors and the soaring adoption rate of cloud-based services to decrease costs for data centers and improve business continuity. The market growth is also connected to the presence of major technology players such as Google, Amazon, and Microsoft.
- This area is also a principal center for technology start-ups. Favorable business conditions and supportive government policies have encouraged businesses to develop advanced cloud platforms. Moreover, prominent tech players' increasing venture capital in cloud technology has also driven market growth.
- The availability of skilled labor and the keen focus of SMEs and large enterprises to enter and grow in North America are also primary driving factors for adopting cloud infrastructure services in the region.
- The increasing adoption of advanced application development technologies and data volumes will also drive significant market growth during the forecast period. The public cloud is gaining massive approval in this region due to its low costs, on-demand availability, and improved security.
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