Big Data, AI, machine learning driving growth of cloud infrastructure market

According to a report released by Verified Market Research, the global cloud infrastructure market is expected to grow at a compound annual growth rate of 18.1% between 2023 and 2030. The market was estimated to be worth $241.9 billion in 2021, and by the end of the projection period, it is anticipated to be worth $1083.5 billion.

The market for cloud infrastructure is expanding due to more people using big data, AI, machine learning, and cloud platforms. There is an increasing need for dependable and scalable cloud infrastructure solutions to manage and store massive volumes of data as more enterprises move towards digital transformation.

Additionally, data security and privacy issues are becoming more crucial for firms of all kinds. The cloud infrastructure market offers cutting-edge security features for businesses wishing to secure their data, including data encryption, multi-factor authentication, and access controls.

The main market participants for cloud infrastructure are also highlighted in the study, including IBM Corporation, Amazon Web Services, Salesforce.com, Alphabet Inc., NetApp Inc., Intel Corporation, Lenovo Group Limited, AT&T Inc., Oracle Corporation, and Quanta Computer Inc. These businesses are making significant investments in R&D to enhance their cloud infrastructure offerings, which will further the market’s expansion.

The rising use of big data, artificial intelligence, machine learning, cloud platforms, and data security and privacy will all contribute to the tremendous rise that the market for cloud infrastructure is predicted to have in the upcoming years. The market will increase if companies rely on cloud infrastructure solutions to manage their data and digital assets.

The “Global Cloud Infrastructure Market” is primarily segmented into sub-segments that may offer detailed information on the most recent market trends.

Cloud Infrastructure Market by Type

Software
Services
Hardware

Market by Cloud Type

Public Cloud
Private Cloud
Hybrid Cloud

Market by End-Users

BFSI
IT and Telecommunications
Government
Consumer Goods and Retail
Healthcare
Manufacturing
Others

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