The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Cloud Network Infrastructure Market Size. The growth sectors of the Cloud Network Infrastructure Market Size are identified with precision for a better growth perspective.
Cloud network infrastructure refers to an innovation in data storage and majorly consists of three services. These services include software-as-a-service (SaaS), platform-as-a-service (PaaS), and infrastructure as a service (Iaas). It is observed that organizations are shifting towards cloud computing services owing to the increased expense in information and communication technology (ICT) spending and a rise in data security threats. Cloud network infrastructure has enabled users by offering secure, standardized, and virtual storage service. It also delivers faster services, leads to improvement in manageability, increase in IT department’s value and reduction in the total cost of ownership.
Unlike other payment structures that enable users to subscribe to vendor services, cloud infrastructures are usually accessed using a pay-per-use model. Enterprises can build their cloud infrastructure on their premises, instead of purchasing them from a cloud vendor. A cloud infrastructure model is differentiated as enterprises using a public cloud, whereas when an organisation uses its on-premise infrastructure, also known as a private cloud. Some organizations also use cloud network infrastructures where some part of it comprises public cloud and other comprises private cloud. This is known as hybrid cloud. Market Research Future (MRFR), in their recently published report have mentioned that the global cloud network infrastructure market is estimated to witness a whopping 14% CAGR by the end of the forecast period. The report also states that the global cloud network infrastructure market is likely to reach a market valuation of USD 212 billion by the end of 2023.
The global cloud network infrastructure market is segmented by components, end-users, and regions. Based on components, the global cloud network infrastructure market is segmented into hardware and services. The hardware component segment is further studied for the segments of services, Ethernet switches, and disk storage. The service segment is sub-segmented into infrastructure as a service, platform as a service, managed hosting, content delivery networks/application, and collocation services.
The global cloud network infrastructure market is studied for the segments of private, public, and hybrid, based on deployment. Based on end-user application, the global cloud network infrastructure market is segmented into consumer goods, BFSI, retail, telecommunications, healthcare, energy, education and research, government, media and entertainment, business and consulting services, and manufacturing.
Detailed Regional Analysis
The global cloud network infrastructure market is studied for the regional segments of North America, South America, Asia Pacific, Europe, and the Middle East & Africa. North America was observed to hold the largest share of the global cloud network infrastructure market at the beginning of the forecast period. The regional market is also expected to retain its stance in the market over the review period, as per the report by MRFR. This dominant stance in the market can be owed to the early adoption of cloud network infrastructure in large as well as small & medium sized enterprises. Further, presence of major market players in the region are also expected to contribute to the ascension of the global cloud network infrastructure market.
MRFR has profiled major cloud network infrastructure market players in the latest report including Hewlett-Packard (U.S.), IBM Corporation (U.S.), Alphabet Inc. (Google) (U.S.), Oracle Corporation (U.S.), EMC Corporation (U.S.), NetApp, Inc. (U.S.), Dell, Inc. (U.S.), Amazon Web Services (AWS) (U.S.), Cisco Systems, Inc. (U.S.), and Microsoft Corporation (U.S.).
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