The Global Cloud Infrastructure market is segmented based on deployment, services, service type and industrial verticals. Deployment (public and private cloud) and desktop printer), services (software as a service, platform as a service, infrastructure as a service, business process as a service and cloud advertising), service type (managed hosting and co-location) and industry verticals such as banking, financial services and insurance, retail, telecom and IT, healthcare, media and entertainment, government agencies, education, energy, manufacturing and other industry verticals are considered while analyzing and defining the penetration of cloud infrastructure services in different geographies and countries. In 2017, deployment segment dominated the Global cloud infrastructure market with public cloud capturing maximum share in terms of revenue. Based on estimation, the segment accounted for around 80.9% share in 2017. However, fostering information technology in terms of increased IT spending, substantial surge in adoption rate of cloud among small and medium enterprises is projected to contribute remarkably in propelling the growth of cloud infrastructure at an exponential rate during the forecast period (2018-2024).
Cloud infrastructure market was accounted at US$ 292.4 Billion during 2017 and is projected to derive US$ 680.2 Billion by 2024 showcasing optimistic CAGR of 12.1% during the forecasted period.
The pace of IT innovation has always been faster contradicting the innovation of other industries. Its transformation started with computers, then moved to microcomputers and transited to PC and webs. Now the next wave of transformation in the IT industry has been cloud computing. Cloud computing has become one of the key part of business digital transformation strategies owing to cost efficiency and its scalability. Moreover, banking, financial services and insurance, retail and telecom and IT have increasingly adopted cloud services. IT cloud spending has also been increasing and is anticipated to display uptrend through 2020 from more than US$ 75 Billion during 2015 to US$ 200 Billion in 2020. Based on services, market is bifurcated into software as a service, platform as a service, infrastructure as a service, business process as a service and cloud advertising. In 2017, cloud advertising service dominated the market, and is expected to maintain its dominance throughout the analyzed period. Banking, financial services and insurance, retail, telecom and IT, Education, healthcare and manufacturing encompass as major industrial verticals where cloud infrastructure opened lot of opportunities in terms of business model. In telecom and IT, the use of cloud infrastructure technology has been successful in bringing a paradigm shift in IT industry. Based on estimation, the telecom and IT generated revenue of US$ 51 Billion in 2017.
Burgeoning information technology, reliability, cost efficiency, high speed and scalability paired with greater economies of scale and reduced network latency for applications and the proliferation of Internet of Things have contributed phenomenally towards the potential of the cloud infrastructure market at global scale. Moreover, enhanced mobility and Bring Your Own Device policy coupled with growing acceptance of cloud services among small and medium enterprises present strategic opportunities for business organizations to develop and deploy innovative processes and hence become more competitive. Cloud technology also aims to reshape IT into more effective and responsive business service.
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Also, for better understanding of cloud infrastructure market penetration, the market is analyzed in different geographies and countries including North America (U.S., Canada, Mexico and Rest of North America), Europe (Germany, France, UK, Spain, Russia, Italy and Rest of Europe), Asia Pacific (China, Japan, India, Singapore, South Korea, Australia and Rest of APAC), Latin America (Brazil, Argentina, Chile and Rest of Latin America) and Middle East Asia (UAE, Saudi Arabia, Algeria, Egypt, Kuwait, Qatar and Rest of Middle East Asia). Based on estimation,
North America accounted for revenue share of 47.3% in 2017.
Influx of numerous players and spur in their investments to expand their outreach has led to the mushrooming growth of the cloud infrastructure market. Although North America and Europe occupied the largest share in cloud revenues, global cloud infrastructure adoption rate is also witnessing rapid rise due to growing prominence among emerging markets such as Asia Pacific, Latin America and Middle East Asia. The major players in this industry are Cisco System Inc., Equinix Inc., Google Inc., International Business Machines Corporation (IBM), Salesforce.com, AT&T Inc., DXC Technology, AWS (Amazon Web Services), HP Inc. and Rackspace Hosting Inc. With an objective to enhance their geographical presence, the major market players have entered into various acquisitions and collaborations which further offers them growth opportunities in cloud domain.
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