According to the report published by Allied Market Research “Hosting Infrastructure Services Market Reach USD 32.5 Billion by 2031 Globally.” These players have adopted different strategies such as new product launches collaborations expansion joint ventures agreements and others to increase their market share and maintain dominant shares in different regions.
Driving Factors of Hosting Infrastructure Services Market
Surge in demand for low-cost IT infrastructure, rise in need of faster data accessibility and reliability, increase in the number of small & medium businesses in various countries across the globe, and rapid growth of cloud technology are expected to drive the growth of the global hosting infrastructure services market. Increase in the number of smartphone users, surge in internet penetration, and growth of the e-commerce sector during the pandemic had a positive impact on the market.
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The global hosting infrastructure services market was valued at USD 14.5 billion in 2021, and is projected to reach USD 32.5 billion by 2031, growing at a CAGR of 8.4% from 2022 to 2031.
Definition of Hosting Infrastructure Services Market
Hosted services are applications, IT infrastructure components or functions that organizations access from external service providers, typically through an internet connection. Hosted services cover a wide spectrum of offerings, including web hosting, off-site backup, and virtual desktops. Cloud services also fall within the hosted services category, although not every hosted service resides in the cloud. A customer, for example, may access an application from a hosting provider’s dedicated server. Hosting infrastructure services provides a combination of IT solutions such as web development, web hosting and email, infrastructure, and application, over the internet. It helps organizations to reduce operational cost that they incur to set up enterprise infrastructure.
Key Players of Hosting Infrastructure Services Market
The key players analyzed in the global hosting infrastructure services market report include AT&T Inc., International Business Machines Corporation, Microsoft Corporation, HPE, Google, NetApp, Inc., Equinix Inc., GoDaddy Operating Company, LLC, CoreSite, Rackspace Inc.
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Based on offering, the solution segment held the largest market share in 2021, holding nearly four-fifths of the global market, and is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 8.8% during the forecast period. The report also analyses other segments such as the services segment.
Based on end-user, the telecom segment held the dominating market share in 2021, holding nearly one-third of the global market, and is expected to maintain its leadership status during the forecast period. The manufacturing segment, on the other hand, is expected to cite the fastest CAGR of 11.4% during the forecast period.
Based on region, the market across North America held the dominating market share in 2021, holding nearly two-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The Asia-Pacific region, on the other hand, is expected to cite the fastest CAGR of 9.7% during the forecast period. The report also analyses other regions of the market such as the LAMEA region and Europe.
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COVID-19 Scenario:
● The outbreak of COVID-19 pandemic had a positive impact on the growth of the global hosting infrastructure services market, owing to the occurrence of lockdowns in various countries across the globe.
● Lockdowns resulted in increased use of smartphones, particularly among the millennials, which boosted the growth of the market.
● In addition, immaculate rise in internet penetration and rapid inclination towards work from home mode among people further increased the growth of the market.
● Besides that, growing adoption of connected devices, and surging e-commerce sector provided lucrative opportunities for the growth of the hosting infrastructure services market.
● Thus, the market is further expected to grow exponentially in the coming years.
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