The cloud infrastructure market, comprising hardware as well as services, is growing at a rapid pace.
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The cloud infrastructure market is expected to be valued at USD 209.66 billion by 2022, growing at a CAGR of 12.9% between 2016 and 2022.
The growth of this market is mainly caused by increasing ICT spending and trend of big data and analytics; rising demand from various organizations for agile, scalable, and cost-effective computing; increasing number of digital services and their applications; and high penetration of hybrid cloud.
The BFSI industry comprises banks, insurance companies, & stock-brokers, and deals with large workforce, assets in different locations, and diverse customer profiles.
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This has transformed not only the operating environment for banks and financial institutions but also played a significant role in structuring and strengthening the economy of the countries such as Brazil, the UAE, and India. Thus, the cloud infrastructure hardware market for the BFSI industry is growing significantly.
In Latin America, cloud services are increasing adopted across various sectors such as healthcare, banking and financial services, insurance, retail, manufacturing, and others. In this region, countries such as Brazil, Argentina, Colombia, Chile, and Peru have huge market opportunities for cloud-based services such as consulting, deployment and system integration, and support & maintenance.
The driving factor for the rising adoption of cloud-based services in this region is the nascence of IT digitalization, which means huge volume as well as high velocity of digital data generation in the coming time. This would require high-end and secured cloud-based solutions to be deployed using superior quality cloud services.
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In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key industry people. Breakup of profile of primary participants is given below:
- By Company Type: Tier 1 – 34%, Tier 2 – 40%, and Tier 3 – 26%
- By Designation: C-Level Executives – 32%, Directors – 28%, and Others – 40%
- By Region: Americas – 40%, Europe – 30%, APAC – 20%, and RoW – 10%
Key Points From Table Of Content:
The key market players profiled in the report are:
- IBM Corporation (U.S.)
- Hewlett-Packard (U.S.)
- Cisco Systems, Inc. (U.S.)
- Dell, Inc. (U.S.)
- EMC Corporation (U.S.)
- NetApp, Inc. (U.S.)
- AWS (Amazon Web Services) (U.S.)
- Alphabet Inc. (Google) (U.S.)
- Salesforce.com (U.S.)
- Intel Corporation (U.S.)
- Lenovo Group Limited (U.S.)
- AT&T, Inc. (U.S.)
- Rackspace (U.S.)
- Oracle Corporation (U.S.)
- Quanta Computer Inc. (Taiwan)
- Foxconn Technology Group (Hon Hai Precision Industry Co., Ltd.) (Taiwan)
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