The global bare metal cloud market is expected to skyrocket in the coming years, jumping from $1.32 billion last year to $26.21 billion by 2025, as more businesses switch from conventional cloud services to this public cloud service.
That’s according to a new report by Grand View Research, which predicts a compound annual growth rate of 38.4 percent.
Factors such as high demand for cloud-based services and automated storage adoption by SMBs are expected to be the key trends influencing the market growth.
The rapid uptake of internet and networking has increased demand for more storage space, advanced networking offerings and high computing power in cloud services. Currently, the market is driven by telecom and IT due to increasing big data and growing demand for effective storage. However, advertising is the most lucrative end-use segment and this trend is expected to continue through 2025, according to the report.
The maintenance service segment is expected to grow substantially due to the need for regular maintenance after installation. The increasing advancements in cloud services are encouraging providers to introduce new updates in minimal time with better quality.
The U.S. government is investing a considerable amount of monetary and non-monetary resources to encourage the adoption of cloud services across various sectors and to carry out initiatives such as smart cities, according to the report.
The increasing use of cloud and internet-based technology in Canada has triggered the adoption of bare metal cloud services in businesses of all sizes.