Dublin, Jan. 25, 2019 (GLOBE NEWSWIRE) -- The "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 2023" report has been added to ResearchAndMarkets.com's offering.

Growing adoption of geographically diverse cloud services and increasing need to automate the operational processes to drive the cloud infrastructure services market

The global cloud infrastructure services market size is expected to grow from USD 30.00 billion in 2018 to USD 81.29 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 22.1% during the forecast period.

Governments' increasing investments in digital transformation, increased awareness among enterprises about the benefits of cloud and its technologies, and business continuity requirements resulting in high demand for cloud storage, disaster recovery, and backup services are major growth drivers for the market. However, stringent government regulations, limited bandwidth providers, and lack of access to high-speed internet may affect the market growth.

Storage as a service segment to hold largest market size in 2018

Enterprises use storage as a service to mitigate the risks of disasters and enhance business continuity and availability. These services provide self-service portals that allow the provision of storage, transfer of data to different tiers of storage, and the option to add or remove storage as needed. To address the security needs of enterprise data, cloud-based storage offers security controls to ensure that all the data is stored securely in data center facilities and is available for quick access.

Hybrid deployment mode to grow at a highest CAGR during the forecast period

The hybrid cloud deployment mode is expected to grow at the highest rate, as it offers the benefits of both private and public deployment modes. Enterprises need a solution to exploit their data centers distributed across multiple environments, owing to the increasing business demands. Increased user and resource mobility, ongoing migrations of applications over the cloud, and the emergence of more sophisticated threats are driving organizations to adopt the hybrid cloud deployment mode.

North America to hold the largest market size, while Asia Pacific (APAC) to grow at the highest CAGR during the forecast period

North America is expected to hold the largest market size during the forecast period, as organizations are shifting toward innovative technologies with the increasing adoption of digital business strategies. Organizations have also invested in advanced technologies to gain a competitive edge and enhance their business operations. APAC is expected to be the fastest-growing region in the global cloud infrastructure services market, owing to the positive economic outlook in the region, increased spending on Information Technology (IT) infratructure, and benefits of cloud infrastructure services tools to drive user experience and improve continuous delivery issues.

Market Dynamics

Drivers

  • Increasing Investment in New Digital Transformation Initiatives By Governments
  • Increased Awareness Among Enterprises About the Benefits of Cloud and Its Adjacent Technologies
  • Business Continuity Requirements, Resulting in High Demand for Cloud Storage, Disaster Recovery, and Backup Services

Restraints

  • Strict Government Rules and Regulations
  • Limited Bandwidth Providers and Lack of Access to High-Speed Internet

Opportunities

  • Telecom Service Providers are Leveraging the Existing Infrastructure
  • Opportunities for MSPS

Challenges

  • Delivering Reliable Cloud Services to Certain Regions, Particularly Smaller Towns and Rural/Remote Areas

Companies Mentioned

  • IBM
  • Microsoft
  • AWS
  • Oracle
  • Google
  • Alibaba
  • Fujitsu
  • Rackspace
  • DigitalOcean
  • Verizon
  • VMware
  • CenturyLink
  • Bluelock
  • Dimension Data
  • OVH
  • Interoute
  • Joyent
  • Skytap
  • Virtuestream
  • ProfitBricks
  • Tencent
  • DXC
  • AT&T
  • NEC
  • Navisite

For more information about this report visit https://www.researchandmarkets.com/research/wmgvbg/cloud?w=12

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Related Topics: Cloud Computing and Storage