The global public cloud system infrastructure services market is expected to reach approximately US$ 110,350 Mn in 2022 and to grow at a rapid CAGR during the assessment period.
The benefits of public cloud services are driving the need for infrastructure services for public clouds. People can use public cloud infrastructure services to access data, services, and applications online.
As a result, servers and costly hardware such as hard drives are no longer required.
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Additionally, it provides the convenience of a location because these services are easily accessible online. The public cloud services are elastic because they can be scaled up or down instantly to meet the demand for computing at that specific moment in time.
Users just pay for the services they really use, which makes public cloud services more affordable and reduces the need for hardware and other IT-related expenses. Additionally, since customers are relieved of the hassle of operating servers and updating software, public cloud services are easy to utilise.
Storage Segment Poised to Touch a Value of Nearly US$ 75,610 Mn in 2022
According to the projections of Persistence Market Research, the storage segment is expected to reach a value of about US$ 75,610 Mn in the year 2022. This represents a robust CAGR during the forecast period of 2017-2022. The storage segment is estimated to account for more than half of the revenue share of the function segment by the end of the year 2017 and is expected to gain in market share by 2022 over 2017.
Government Segment to exhibit a CAGR of 28% During the Assessment Period
As per the assessment of Persistence Market Research, the government segment is poised to touch a figure of about US$ 17,000 Mn in the year 2022. This represents a CAGR of 28% during the assessment period from 2017 till the year 2022. The government segment is estimated to account for nearly one-fifth of the revenue share of the vertical segment by the end of the year 2017 and is projected to lose market share by 2022 over 2017.
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