A report, initially published in April of last year, has suggested that the cloud infrastructure market will be worth more than $225 Billion by 2021. Compiled by global market research and consulting organization
Market Research Engine, the report provided details of trends until the end of 2020, looking at areas such as equipment (storage, computing systems, network infrastructure), services (IaaS, PaaS, managed hosting, colocation services), and deployment models (private cloud, public cloud, community cloud, hybrid cloud).
Market Research Engine, which has headquarters in Florida, United States, prides itself on being “the experts who offer total support for researchers and analysts“. The company sees growth being mainly generated by the manufacturing industry ($72.84 billion by 2020) with the banking and global financial services industry close behind. The report goes on to suggest the cloud infrastructure market will be dominated by North America (led by the United States) and reach $206.93 billion by the end of the period.
“Cloud infrastructure will bring in a new era of functionality and opportunity by enabling organizations to do things which were not possible before,” explained the report. “The cloud infrastructure will help smaller organizations to gain access to computing capabilities that were beyond their reach and budget in the past. Cloud infrastructure gives opportunity to large organizations to plan and support a broader portfolio of applications.”
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