Global Bare Metal Cloud Market - Segmented by Service Type (Networking Services, Compute Services, Database Services, Identity and Access Management Services), Organization Size, End-User Vertical (Telecom and IT, BFSI, Healthcare, Retail), and Region - Growth, Trends, and Forecast (2018 - 2023)
The global bare metal cloud market was valued at USD 1.37 billion in 2017 and is expected to reach a value of USD 7.96 billion by 2023 at a CAGR of 34.04%, during the forecast period (2018 - 2023).
Bare metal cloud is emerging as an alternative to the Infrastructure-as-a-Service (IaaS), and playing a major role in combining the features of both traditional hosting and IaaS for delivering high-performance capabilities. Bare metal cloud offers key features, like self-automated service, pay-as-per pricing, and on-demand capacity, to the customers. Additionally, growing advancements in the big data applications and artificial intelligence are further expected to drive the market over the forecast period. Moreover, bare metal cloud offers on-demand access to high-performance-dedicated servers by deploying instance via a web portal or application-programming interface, which is flexible in nature and easy to deploy and manage over the web.
Identity and Access Management Service to Witness the Fastest Adoption Rate
Changing business processes have started to manage more digital identities coupled with IoT, further bringing in millions of new devices. Moreover, Security in the past was only limited to locking up the business to protect the businesses from the risks. Nowadays, organizations are focusing on collaboration. In recent years, companies have invested significantly in IAM solutions to perform the job that is out of the reach for humans, since hackers, and malicious employees are mostly unknown. The impact of an identity management cybersecurity breach from organized crime, state-sponsored militaries, and others is packed with implications, which can impact staff productivity and morale, the IT network, and company reputation. These threats demand a new level of identity and access management solutions. Advancements in this segment have led to machine learning algorithms being used in these solutions. It is expected that the bulk of the authentications will be performed by machine learning technology, as IAM is increasingly relying on physical and behavioural biometrics to geolocation data. As these additions are anticipated to enhance the IAM solutions, the demand for these solutions is expected to increase.
North America to Hold the Largest Share in the Market
The North American market is growing at a steady pace, owing to the major cloud initiatives taken by established economies, like the United States. The North American region has a significant dominance with sustainable and well-established economies, empowering them to actively invest in the R&D activities, and thereby contributing to the development of new technologies, such as Internet of Things (IoT), big data, mobility, DevOps, and social media. The rapid growth of start-up culture and cloud computing initiatives taken by major countries, such as the United States and Canada, are also responsible for the growth of the bare metal cloud market in North America.
Key Developments in the Market
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