Global Cloud Infrastructure Market is expected to reach $206.93 billion by 2020, Finds New Report

Global cloud infrastructure market is expected to reach $206.93 billion, mainly dominated by North America, particularly the US, will be the largest market among Latin America, Western Europe, Central Eastern Europe (CEE),Middle East & Africa and Asia-Pacific.

“Global cloud infrastructure market is expected to reach $206.93 billion by the end of 2020 driven by all segments of the industry,” according to new report. The high growth has come mainly from the manufacturing industry followed by banking & financial services industry. The manufacturing industry is expected to reach $72.84 billion by 2020 at a CAGR of 13.7% for the forecast year 2015-2020.

Cloud infrastructure will bring in a new era of functionality and opportunity by enabling organizations to do things which were not possible before. 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. Cloud services along with Software Defined Network (SDN) help to develop cost effective service offerings, which help in reducing the organisation's network cost.

"The ever-changing innovation environment in the internet of things (IoT) market gives a lot of scope to start-ups to offer new devices and services to its customers, which in turn helps in the growth of the cloud infrastructure market as the majority of these start-ups will use cloud services as it is cost effective and start-ups get access to the latest technology," opined Pavan Mudholkar, senior analyst. Lot of changes are expected to be seen during the forecast year 2015-2020. Cloud infrastructure is one the important technology trends that has marked its way in the last 10 years. Software development will shift to the cloud and software companies will build the majority of the applications on cloud technologies. Cloud infrastructure services will help organizations to shift focus from their local technology maintenance to a business and customer satisfaction oriented tasks. Hybrid cloud service is set to be imperative with time. Hybrid cloud services will deploy unified integrated cloud model, which consists of internal and external cloud platforms that can be leveraged based on particular organization’s requirements.

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