IaaS, PaaS market revenues exceed $2 billion in first quarter
During the past several years, all factions of the cloud computing landscape have been experiencing significant growth. This occurrence has largely been due to the fact that businesses of all sizes are becoming more comfortable with the cloud and have developed new strategies to implement the hosted services in the workplace.
While all aspects of the cloud are gaining momentum, Infrastructure as a Service (IaaS) in particular is being deployed at an increasingly rapid rate. A recent report by Synergy Research Group highlighted this change, noting that the revenues for IaaS and Platform as a Service (PaaS) in the first quarter of 2013 exceeded $2 billion, representing a growth of more than 50 percent from the first quarter of last year.
The report highlighted how several service providers are dominating the IaaS market, though the growing demand for the technology as a whole has introduced many new vendors. For this reason, the IaaS market is forecast to continue expanding during the next five years as organizations seek out partnerships with firms that share similar goals, the report noted.
Synergy Research Group stated that the ongoing growth of IaaS in the business world will cannibalize other similar technological markets, pushing the cloud to the top of the food chain.
"The success of IaaS and PaaS will also take away some growth opportunity from managed hosting and colocation, causing some specialists in those segments to diversify into cloud services," said John Dinsdale of Synergy Research Group.
Gartner reported that the overall public cloud computing market is forecast to generate more than $131 billion in revenue worldwide and will largely be driven by IaaS, which is expected to be the fastest growing segment of the industry. By implementing a cloud infrastructure, decision-makers from all industries can improve storage, analytics and other computing strategies to ensure their organizations have the means to remain competitive and even grow in stature during the next several years.
Because the cloud landscape is so large, however, it is important that executives take the time to determine which vendors best align with their needs, as rushing into the market without first planning how to implement the cloud can introduce significant challenges. By working with a trusted service provider, decision-makers can find the solutions that align with long-term corporate objectives to ensure they can meet and exceed internal and external expectations.
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