Infrastructure As-A-Service Market is Estimated to Witness High Growth Owing to Opportunity of Cost Reduction

Infrastructure As-A-Service Market


 Infrastructure as a service (IaaS) provides virtualized computing resources such as servers, storage, networking components etc over the internet. IaaS helps organizations to avoid upfront capital costs required to buy hardware for owning the infrastructure. IaaS allows on-demand provisioning of servers and other resources as per the business needs. The global Infrastructure as-a-Service Market is estimated to be valued at US$ 64.42 Bn in 2023 and is expected to exhibit a CAGR of 8.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

 Market Opportunity:

 The opportunity for cost reduction is driving the growth of infrastructure as-a-service market. IaaS solutions help reduce infrastructure costs by eliminating the need to purchase servers, hardware, data storage, and other equipment required to manage on-premises infrastructure. With IaaS, enterprises pay for only the resources they consume which significantly reduces upfront capital expenditure. IaaS providers offer pay-per-use pricing models which allow customers to avoid overprovisioning of infrastructure and only pay for what they use. This utility based pricing and scalability of cloud infrastructure enables organizations to avoid wasteful spending and optimize infrastructure costs which is fueling the adoption of IaaS.

 

Porter's Analysis

Threat of new entrants: The infrastructure as-a-service market is characterized by significant barriers such as high initial infrastructure costs, requirement of strong technical expertise, and established brand reputation which collectively limit threat of new entrants.

Bargaining power of buyers: Buyers have moderate to high bargaining power as they can easily switch between different vendors. However, switching costs incurred act as limitation on buyer's power.

Bargaining power of suppliers: Suppliers have moderate bargaining power due to relatively low differentiation in core technology and services across the market. Their bargaining power is also limited due to availability of substitute components.

Threat of new substitutes: Threat of substitutes is moderate as there are limited direct substitutes. However, hybrid computing models like PaaS, SaaS etc. pose potential threat by targeting similar needs.

Competitive rivalry: The market is highly competitive with organizations continuously investing in new technologies to gain competitive edge. Intense price wars and frequent mergers & acquisitions characterize the competitive environment in this market.

 SWOT Analysis

Strengths: High scalability and flexibility, low upfront costs, focus on innovation are the key strengths.

Weaknesses: Security & privacy concerns, vendor lock-in, compliance & regulatory challenges are weaknesses.

Opportunities: Emerging technological trends like edge computing, 5G, AI and growing demand for cloud-based infrastructure present opportunities.

Threats: Cyber threats, dependency on internet connectivity, and natural/geopolitical events pose threats.

 Key Takeaways

The Global Infrastructure As-A-Service Market Demand is expected to witness high growth during the forecast period of 2023 to 2030. The market size for 2024 is US$ 64.42 Bn and projected to reach over US$ 130 Bn by 2030, registering a CAGR of around 8%.

 

Regional analysis: North America dominates currently due to advanced cloud adoption and significant presence of major IaaS providers like AWS, Microsoft, Google. Asia Pacific is envisioned to grow at the fastest pace owing to rising digitalization, increasing investments in cloud infrastructure by countries like China and India.

 

Key players operating in the Infrastructure As-A-Service market are Rubicon Technology Inc., KYOCERA Corporation, Saint-Gobain, SCHOTT AG, Monocrystal, Rayotek Scientific Inc., CRYSTALWISE TECHNOLOGY INC., ILJIN Display CO. Ltd, Namiki Precision Jewel Co., Ltd., Juropol Sp. z o.o. Rubicon Technology Inc., Microsoft, Amazon Web Services, and Google are some of the dominant players in the market.

 

For more details on the report, Read- https://www.pressreleasebulletin.com/infrastructure-as-a-service-market-trends-size-and-share-analysis/

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