The global cloud infrastructure market is expected to more than double in size over the next five years, according to a new research report by MarketsandMarkets, a B2B researcher.
The market is expected to grow from $73 billion to $166 billion by 2024.
According to the report, organizations across all sizes and industries are leveraging cloud infrastructure services, with the public cloud deployment model estimated to hold the largest market size this year. North America is estimated to hold the largest market size in 2019, whereas Asia Pacific is expected to grow at the highest CAGR during the forecast period.
The expansion will be spurred by governments’ increasing investments in digital transformation initiatives, in addition to low costs, flexibility, scalability and security, among other drivers.
Major players in the global cloud infrastructure services market
