Cloud Infrastructure Services Market to reach $81.29 Bn by 2023

According to a report, the Cloud Infrastructure Services market is expected to bloom from a $30.00 Bn industry to an $81.29Bn industry by 2023 with a compound annual growth rate of 22.1%.

The growth is expected to be derived by the increasing investments and transformations to Cloud and Analytics on behalf of Government Agencies across the world. An increased awareness of Cloud Computing technologies and the Internet of Things has also increased a demand for higher backup and disaster recovery in addition to cloud storage services. These factors point to a significant rate of growth for the Cloud Infrastructure Services industry in the recent and upcoming years.

Businesses tend to look for continuity at all times, and hence, Disaster Recovery and Backup are one of their primary concerns when it comes to Cloud Computing which is based on sharing resources among different participants as per demand. They also provide other additional benefits such as scalability, reliability, flexibility, utility style costing, and location independence services. Hence, cloud-based deployments are expected to turn over to a higher rate in the recent future.

Among the world, the Asia Pacific region is expected to have the highest adoption rates of Cloud Computing facilities and Public Cloud Services due to the increasing adoption of advanced application development technologies and growing data volumes. Even now, the public cloud is gaining huge adoption in this region due to its low costs, on-demand availability, and improved security.

Major vendors providing Cloud Infrastructure Services Market include IBM, Microsoft, AWS, Oracle, Google, Alibaba, Fujitsu, DigitalOcean, Verizon, VMware, OVH (France), Interoute, and Tencent among many others.

Due to the driving needs of the world including public organisations and government agencies alike, as well as the security and reliability offered by cloud computing technologies and distributed systems, the cloud infrastructure market is soon expected to grow rapidly, especially in the Asia Pacific region, along with the rest of the world.