A growing number of industries, including manufacturing, healthcare, telecom & IT, retail, BFSI, media & entertainment, and others, are adopting cloud solutions. Due to an increasing requirement for data protection and disaster services recovery, the banking sector is seeing strong demand for cloud services. A new set of componentized, composable cloud native services called Oracle Banking Cloud Services was introduced by Oracle in February 2023. It enables the processing of scalable corporate demand deposit accounts, the management of enterprise-wide limits and collateral, the processing of worldwide real-time ISO20022 payments, the management of APIs, the enrollment and origination of retail customers, and the development of novel self-service digital experiences. The market is being updated with new products from major companies. For instance, in May 2022, Akamai released a number of improvements and new products for its security and compute product lines, as well as its debut into the infrastructure as a service (IaaS) market. The Linode managed database, Akamai's first IaaS offering, will simplify database deployment and help developers lower risk, boost productivity, and reduce complexity related to manually managing production database clusters.
According to Coherent Market Insights, The market for Infrastructure As A Service is anticipated to reach a value of US$ 52.5 billion in 2022 and is projected to grow at a CAGR of 22.7% from 2023 to 2030.
Key Companies of Infrastructure As A Service Industry:
1. Alibaba Group Holding Limited
The company was started in 1999 and is based in Hangzhou, China. Through its subsidiaries, the company offers services for internet content, electronic commerce, and financial transactions online. The business stated in March 2023 that it will become a holding company and that its subsidiaries would split up into six different businesses.
2. Redcentric Plc.
The company was started in 1997 and is based in United Kingdom. The business offers managed services that are network-based and comprehensive. The business provides network services, data center services, end point services, cloud services, and application services. Redcentric is pleased to announce the successful launch of the new NHS Peering Exchange Service in December 2022. This service is an essential part of the Health and Social Care Network's (HSCN) central infrastructure.
3. Amazon Web Services, Inc.
The company was started in 2006 and is based in Seattle, Washington, United States. The business offers metered, pay-as-you-go on-demand cloud computing platforms and APIs to people, businesses, and governments. AWS announced in June 2022 that the Axiom Mission 1 had successfully launched the AWS Snowcone, a compact, reliable, and secure edge computing device, to the International Space Station.
4. Rackspace Hosting, Inc.
The company was founded in 1998 and is based in Windcrest, Texas, United States. The business provides services for virtualization, web and application servers, storage and backup, email, databases, voice over IP, and data communications. In August 2020, Rackspace Technology began trading on the Nasdaq under the ticker symbol "RXT" following their initial public offering (IPO).
5. Oracle Corporation
The company was started in 1977 and is based in Austin, Texas, U.S. The company provides enterprise business applications, application development and decision support tools, relational databases, and relational servers. The purchase of Cerner, a provider of health information technology, was announced by Oracle on December 20, 2021. Oracle declared on March 31, 2020, that it has signed a contract to buy LiveData Utilities.
6. Google LLC
The company was started in 1998 and is located in California, United States. The Company specializes on search engines, cloud computing, software, hardware, and web-based solutions for display advertising and search. Google announced in May 2022 that it had purchased the California-based startup Raxium, which developed and produced MicroLED display technology.
7. Microsoft Corporation
The company was started in 1975 and is based in Redmond, Washington, United States. The business provides apps, more cloud storage, and cutting-edge security options. Microsoft announced on January 18, 2022, that it will buy American video game developer and holding company Activision Blizzard for $68.7 billion in cash. Microsoft and ChatGPT creator OpenAI announced a new multi-year, multi-billion dollar investment agreement on January 23, 2023.
Definition: A cloud services provider provides computing resources using the infrastructure as a service cloud computing service model. The storage, network, servers, and virtualization are offered by the IaaS vendor. By using this service, consumers can avoid having to operate an on-site data center.
