The major growth drivers for the market include low costs, flexibility, scalability, and security. The cloud infrastructure service offerings provide accelerated Time-to-Market (TTM) and speedy application development and running processes.
Organizations across all size and industries are leveraging cloud infrastructure services for improving efficiency, lowering the cost of server space and access to data anywhere.
The disaster recovery and backup as a service segment is expected to grow at the highest CAGR during the forecast period, whereas the storage as a service segment is estimated to hold the largest market size in 2019. The cloud infrastructure services have become a central part of business processes, due to their ease of use, low operating costs, and flexibility.
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The initial investment required for the deployment is minimum, and there are no responsibilities involved in managing the infrastructure. The public cloud offers scalability, reliability, flexibility, utility-style costing, and location independence services.
Enterprises that lack the budget to implement and maintain their storage infrastructure or hardware generally avail this service. The demand for this service is growing as it helps minimize the operational and capital expenditure incurred.
Significant vendors providing cloud infrastructure services include 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).