The demand within the global infrastructure as a service (IaaS) market is expected to rise on account of advancements in the field of hardware outsourcing. The uniqueness of service-provision within the domain of infrastructure as a service (IaaS) has played a key role in market growth. The advent of infrastructure as a service (IaaS) revolutionized the growth of several companies that lacked hardware and software capabilities.
The relevance of infrastructure as a service (IaaS) for start-ups has also played a vital role in propelling market demand. It is expected that the popularity of infrastructure as a service (IaaS) in the field of telecommunications would play stellar role in market growth. Several Business Process Outsourcing (BPOs) units have emerged across the world. This factor has generated a humongous amount of revenues within the global infrastructure as a service (IaaS) market.
The need for data centers has been rising at an unprecedented pace in recent times. This majorly owes to the relevance and utility of big data for growing organisations. Hence, the availability of outsourced infrastructure is expected to become a panacea for growth-oriented firms. The need for ensuring seamless control over the resources of a firm or organisation necessitates proper functioning of software and hardware nodes. This need can be fulfilled at an economical rate by inducting infrastructure as a service (IaaS).
Transparency Market Research (TMR) predicts that the global infrastructure as a service (IaaS) market would accumulate revenues worth US$72.90 bn by 2024-end, rising up from a value of US$15.60 bn in 2014. Furthermore, the infrastructure as a service (IaaS) market is expected to grow at a CAGR of 22.1% over the period between 2015 and 2024. The dynamic growth of the IT sector is behind this stellar rate of market growth.
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Need for Global Connections within Business
The demand for establishing new units is a recurring need for all types of companies and businesses. Outsourcing of infrastructure offers a convenient option to businesses willing to setup new units at affordable prices. Hence, the global infrastructure as a service (IaaS) market is expected to grow at the back of increasing business complexities. The need for data storage facilities across new start-ups has also created tremendous demand within market.
Asia Pacific to Lead Market Growth
On the basis of geography, the global infrastructure as a service (IaaS) market has been segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. The infrastructure as a service (IaaS) market in Asia Pacific is expected to accumulate humongous revenues in the years to follow. This majorly owes to the presence of several data centers, upcoming start-ups, and outsourced business units in India and China.
Leading Market Players to Target Small Businesses
Although infrastructure as a service (IaaS) offers utility to businesses of all scales, its relevance for new ventures is greater. Hence, the vendors within the global infrastructure as a service (IaaS) market are expected to capitalise on the need for fata storage and hardware facilities across small businesses. Moreover, the leading vendors are projected to develop new systems for maintain the integrity and safety of operations within the outsourced space. Some of the leading vendors in the global infrastructure as a service (IaaS) market are Dimension Data Plc, IBM Corporation, Amazon Web Services, Inc., Fujitsu Ltd., Rackspace, Inc., and Interoute Communications Ltd.
