The infrastructure as a service (IaaS) market is expected to grow by $136.21 billion between 2021 and 2025, according to a report by Technavio.
IaaS is the term for cloud computing services where enterprises rent or lease servers for computing and storage in the cloud.
This market stands to witness a positive impact during the forecast period due to the COVID-19 pandemic. According to Technavio, market growth is likely to increase as compared to 2020.
“With the continuing spread of the novel coronavirus pandemic, organizations across the globe are gradually flattening their recessionary curve by leveraging technology,” stated the report. “Many businesses will go through response, recovery and renewal phases. Building business resilience and enabling agility will aid organizations to move forward in their journey out of the COVID-19 crisis toward the ‘next normal.’”
The IaaS market was valued at $38.94 billion in 2019, and is projected to reach
