Growing demand for recovery in disaster situation and rising demand for hybrid cloud solutions as a service across the globe is the noticeable factor boosting the adoption of IaaS globally. However, higher data security, and privacy issues are anticipated to hinder the global IaaS market. Industries and companies are increasingly adopting IaaS system solutions owing to the rising volume of financial and business data information and other critical data in various verticals. The need for decreasing the operational cost and IT administration, in order to emphasize further on their core business operations, is the primary factor driving the global IaaS market, especially within small & medium enterprises (SMEs).
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The global IaaS market is segmented on the basis of deployment model into public cloud, private cloud and hybrid cloud. In addition, the global IaaS market is segmented based on service into compute as a service (CaaS), storage as a service (STaaS), application hosting as a service, disaster recovery as a service (DRaaS), desktop as a service (DaaS), and data center as a service (DCaaS). The global IaaS market is further segmented by end-user verticals, namely: large enterprises, small & medium enterprises/businesses, public sector, BFSI, and others (which include hospitality, retail, etc.).
IaaS provides a competitive cloud computing platform to the enterprises by enabling shared pool of storage and computing applications for end-users on on-demand basis. Moreover, the technological developments have led to growing mobility, bring your own device (BYOD), and similar digitalization trends in several fields. Flexibility, ease in deployment, and scalability of services with economic benefits are the factors boosting the global IaaS market.
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