Global Bare Metal Cloud Market 2019-2023|37% CAGR Projection over the Next Five Years | Technavio
LONDON--(BUSINESS WIRE)--Apr 11, 2019--The global bare metal cloud market is expected to post a CAGR of more than 37% during the period 2019-2023, according to the latest market research report by Technavio. However, the market is expected to decelerate as the year-over-year growth is projected to decrease over the forecast period.
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The global bare metal cloud market will post a CAGR of more than 37% during the period 2019-2023 (Graphic: Business Wire)
With the rising cost pressure owing to certain business and economic conditions, several companies are compelled to use flexible IT solutions. The cost of on-premises deployment model is highest as it includes the cost of licensing, system design and customization, implementation, training, and maintenance. Organizations also need to spend a considerable amount on its proper implementation, which increases the overall OPEX. Bare metal cloud is flexible in terms of the deployment model and allows clients to build their cloud-based infrastructure as per their business requirements. The critical advantage of implementing bare metal cloud services is the pay-per-use pricing model in which clients pay for what they use on a monthly or an hourly basis. Hence, the demand for bare metal cloud is expected to increase during the forecast period.
As per Technavio, the rise in the adoption of hybrid bare metal cloud storage systems will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global bare metal cloud market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global bare metal cloud market: Rise in the adoption of hybrid bare metal cloud storage systems
The adoption of hybrid bare metal cloud systems is increasing at a significant rate globally as it provides organizations flexibility in choosing the right cloud deployment model for each workload. The deployment of hybrid bare metal cloud system contains three significant benefits such as improved data management, better security, and compliance, and enhanced IT infrastructure management and flexibility. The hybrid bare metal cloud systems provide both on-premises and cloud-based bare metal data center storage systems for efficient operations. The rising implementation of hybrid bare metal cloud infrastructure is expected to fuel the growth of the global bare metal cloud market in the future.
“With the significant increase in the penetration rate of the Internet, the personal content going on online platforms, especially social media, is increasing. Also, the private and public sectors are increasingly storing their data on the cloud. Further, payment card companies are encouraging customers to make online transactions using the Internet. As a result, cases such as data theft and phishing are on the rise, and new forms of attack are emerging. Hence, end-users are increasingly adopting bare metal cloud solutions to secure their systems from cyber threats,” says a senior research analyst at Technavio.
Global bare metal cloud market: Segmentation analysis
This market research report segments the global bare metal cloud market by end-user (BFSI, government, IT and telecom, healthcare, and others) and geographic regions (APAC, Europe, MEA, North America, and South America).
The BFSI segment held the largest bare metal cloud market share in 2018. The growth of the BFSI segment can be attributed to the growing investment in cloud infrastructure and the inherent benefits of using the bare metal cloud in the BFSI sectors.
The North America region led the market in 2018, followed by Europe, APAC, South America, and MEA respectively. The market in North America is driven by the growing adoption of secured cloud services. The adoption of bare metal cloud in countries such as the US and Canada is the highest in the region.
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