According to a comprehensive research report released by Gartner on July 18th, the global revenue generated by cloud infrastructure, known as Infrastructure-as-a-Service (IaaS), reached an impressive $120.3 billion in CY2022. This marks the first time the IaaS segment has surpassed the significant $100 billion mark, showcasing the rapid growth and adoption of cloud-based computing solutions worldwide.
The remarkable growth of 30% compared to the previous year is particularly noteworthy, as CY2021 witnessed $92.8 billion spent on IaaS services. This surge in revenue reflects the increasing reliance of businesses and organizations on cloud-based computing resources to meet their diverse and evolving technological needs.
IaaS offers a transformative approach to computing services by delivering processing power, storage, and networking resources through the cloud, rather than relying on physical hardware. This revolutionary paradigm effectively eliminates the necessity for in-house data centers, presenting businesses with cost-effective, flexible, and scalable computing solutions.
It is essential to note that IaaS is one of the three primary public cloud computing services, the others being Software-as-a-Service (SaaS) and Platform-as-a-Service (PaaS). While SaaS focuses on delivering software applications over the internet, PaaS provides a platform for developers to build, deploy, and manage applications without the burden of managing underlying infrastructure.
The momentous achievement of surpassing $100 billion in global revenue for IaaS signifies the accelerated pace of digital transformation and highlights the growing recognition of the potential benefits that cloud-based services can offer across various industries. As the demand for agile and efficient computing solutions continues to surge, the cloud infrastructure market is poised for even more remarkable growth in the foreseeable future.