2024 IaaS and PaaS Market: Opportunities in Sovereign Cloud, Cost Savings, and AI Integration

Overview of the IaaS and PaaS Market in 2024

This report examines the development of IaaS (Infrastructure-as-a-Service) and PaaS (Platform-as-a-Service) solutions in the cloud, looking at the factors that will either drive or hold back market growth in 2024. It also explores the challenges and opportunities for companies providing public cloud infrastructure and platforms, as well as the market’s size and expected growth.

Importance of Cloud Infrastructure and Platforms

Cloud infrastructure and platforms are the backbone of the digital economy. For over ten years, businesses around the world have focused on updating and moving their applications and data to the cloud. However, in 2023, the growth of the IaaS and PaaS market slowed down due to high interest rates, inflation, and a slow recovery from the pandemic.

Market Growth Projections for 2024

Looking ahead to 2024, the market is expected to see stronger growth, driven by economic recovery and the expanding use of generative AI. The rapid growth of generative AI is anticipated to continue at an even faster pace in 2024. Given that training large language models requires massive data storage and processing power—something only the large data centers of major cloud providers can handle—the IaaS and PaaS industry is in a prime position to benefit greatly from this technological shift.

Opportunities for Growth

1. Sovereign Cloud: Governments and organizations are increasingly interested in sovereign clouds to keep data secure within national borders.
2. Cost Optimization: Businesses focus on optimizing their cloud costs, seeking efficient ways to manage expenses.
3. AI-Cloud Integration: Integrating AI with cloud services is becoming a major growth area, offering new ways to process and analyze data.

Key Topics Covered in the Report
Strategic Imperatives

• Why is it Becoming Harder to Grow?
• The Strategic Importance of Adapting to Changes
• Impact of the Top Three Strategic Priorities on the Global IaaS and PaaS Market

Growth Opportunities and Analysis

• Growth Metrics and Overview of Market Growth
• Definitions and Landscape of the Global Cloud IaaS and PaaS Market
• Market Segmentation by Region
• Research Scope and Analysis of Competitors
• Drivers and Restraints of Growth in the Market
• Forecasts for Market Growth

Market Forecast
Global Revenue Forecasts

• Assumptions for the Forecast
• Revenue Forecasts for North America, Latin America, EMEA (Europe, Middle East, and Africa), and Asia-Pacific
• Discussion on Revenue Forecasts and Market Share Analysis
• Provider Market Share and Regional Breakdown