MarketsandMarkets expects the cloud infrastructure services market to grow from USD 73.0 billion in 2019 to USD 166.6 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 18.0% during the forecast period (2019–2024). Increasing digitalization across industries, changing perception toward the cloud, initiatives, and investment by government for adoption of technologies, and the growing awareness of the benefits of the cloud is expected to increase the adoption of cloud infrastructure services across the globe during the forecast period.
The cloud infrastructure services market includes significant vendors, such as IBM (US), Microsoft (US), AWS (US), Oracle (US), Google (US), Alibaba (China), Fujitsu (Japan), Rackspace (US), DigitalOcean (US), Verizon (US), VMware (US), CenturyLink (US), Bluelock (US), Dimension Data (South Africa), OVH (France), Joyent (US), Skytap (US), Virtuestream (US), ProfitBricks (Germany), Tencent (China), DXC Technology (US), AT&T (US), NEC (Japan), and Navisite (US). These players have embraced various growth strategies to expand their global presence in the market and increase their market shares. New product launches, acquisitions, and partnerships/collaborations are some of the significant strategies deployed by the major players to grow further in the cloud infrastructure services market.
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AWS, a business unit of Amazon, is one of the significant providers of cloud infrastructure services across the globe. The company has a strong customer base across 190 countries in the region of North America, Europe, APAC, and MEA. The company provides a broad range of cloud infrastructure services including compute, storage, network, database, and other services to its global commercial clientele. AWS has focused on organic growth through product innovations. These products enable efficient management of the cloud infrastructure on AWS. The company provides cloud infrastructure offerings which provide easy and secure access to critical data at low costs with the flexibility to optimize resources as per the business needs. For instance, in July 2018, AWS released EC2 compute instances for its Snowball Edge appliance. The availability of EC2 compute instances is expected to give the system an edge over other appliances that target such environments AWS is emerging as the worldwide leader in cloud services with data center expansions in APAC, providing customers with a choice in data locality and even lower latency. In the coming years, the company is expected to reinforce its current leadership position in the cloud market through long-term investments for developments rather than aggressive short-term investment.
Microsoft is a leading provider of platforms for enterprise solutions, such as mobile and cloud-based environments. The company offers a vast array of services, including cloud-based solutions, which provides its commercial clientele with software, services, and platforms. Microsoft also provides its users with economic and convenient products that are integrated with the latest technological solutions and services. Microsoft offers its products and solutions to a plethora of industry verticals, such as automotive, consumer packaged goods, education, energy, financial services, government, healthcare, and hospitality. The company is globally present in the region of North America, APAC, MEA, Europe, and Latin America
Microsoft’s strategy requires it to continuously invest in data centers and other infrastructure to support devices and services. It primarily focuses on developing and marketing both software and hardware services. The company has focused its strategic efforts on partnerships to strengthen its position in the market further.
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 2024
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