According to a report published by UnivDatos, the Global Cloud Infrastructure Service Market is expected to reach USD 680.2 billion by 2024, expanding at a healthy CAGR of 12.1% during 2018–2024. The rise in adoption of cloud computing across industries, increasing IT spending, and the growing demand for cost-effective and scalable solutions are fueling the market’s growth.

Market Overview

Cloud infrastructure services have become a cornerstone of digital transformation, enabling businesses to scale operations, manage big data, and optimize IT costs. The widespread adoption of public and private cloud services, coupled with applications across diverse industries such as manufacturing, healthcare, retail, and government, has turned cloud technology into a game changer.

In 2017, the public cloud segment dominated the global market and is projected to generate USD 543.9 billion by 2024. Within public cloud services, cloud advertising is witnessing notable growth due to the rising demand for dynamic ad optimization in sectors like retail and media & entertainment. Meanwhile, Infrastructure as a Service (IaaS) is anticipated to grow at the fastest CAGR of 18.5%, thanks to its scalability and cost-efficiency.

On the private cloud side, managed hosting services are expected to dominate the market by 2024, driven by their advanced infrastructure, strong security features, and specialized service offerings.

Growth Drivers

• Cost efficiency & flexibility: Organizations are adopting cloud services to reduce IT expenses while gaining access to flexible computing resources.
• Data-driven transformation: The surge in online transactions and big data generation has increased the need for secure, scalable cloud platforms.
• IT spending growth: Global IT spending is projected to reach USD 2.65 trillion by 2020, up from USD 2.18 trillion in 2015, with significant contributions from cloud computing, Big Data, and IoT.
• SME adoption: Small and medium enterprises are increasingly adopting cloud solutions, opening new growth avenues for service providers.

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Market Segmentation

The market is segmented by deployment model, services, end-user industry, and region.

Deployment Model

• Public Cloud: SaaS, PaaS, IaaS, BPaaS, Cloud Advertising
• Private Cloud: Managed Hosting, Co-Location

End-User Industries

• BFSI (Banking, Financial Services & Insurance)
• Retail
• Telecom & IT
• Healthcare
• Media & Entertainment
• Government Agencies
• Education
• Energy
• Manufacturing
• Others

Telecom & IT currently holds the largest market share, while the energy sector is expected to witness the fastest CAGR of 13.5% during the forecast period.

Regional Insights

The global market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.

• North America held the largest market share in 2017, driven by intense competition, high SaaS adoption, and innovation.
• Europe and Asia-Pacific are expected to experience strong growth due to regulatory initiatives, government support, and increasing adoption among SMEs.
• Asia-Pacific, led by China, Japan, and India, is becoming a major hub for cloud investments and rapid digital transformation.

Competitive Landscape

The global cloud infrastructure service market is highly competitive, with leading players focusing on product development, partnerships, and global expansion. Key players include:

• Cisco Systems Inc.
• Equinix Inc.
• Alphabet Inc. (Google)
• IBM Corporation
• Salesforce.com
• AT&T Inc.
• Amazon Web Services Inc. (AWS)
• DXC Technology (CSC)
• Hewlett Packard (HP)
• Rackspace Hosting Inc.

These companies are investing in expanding their portfolios and forging strategic collaborations to strengthen their market positions.

Conclusion

The global cloud infrastructure service market is poised for significant growth, driven by the increasing demand for scalable IT solutions, rising cloud adoption across industries, and rapid advancements in SaaS, PaaS, and IaaS. With North America leading today and Asia-Pacific emerging as a fast-growing region, the cloud infrastructure market will continue to be a key enabler of digital transformation worldwide.

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