Global Bare Metal Cloud Market Overview
The global Bare Metal Cloud market size was valued at USD 2,250 MN in 2019 and is projected to grow rapidly with a CAGR of 38% during the forecast period 2020-2026. The market is mainly driven by the rising demand for high-performance, cost-effective, and flexible cloud service globally. In addition to this, the increasing need for data security, demand for storage data, and growing adoption of IoT and big data across diverse verticals is driving the growth of the bare metal cloud market. The latest trend in the bare metal cloud market is rising demand from the adverting sector is likely to create a lucrative window in the upcoming years. As per research, the market is estimated to reach around USD 21,446 MN by 2026.
The bare metal cloud service provides many advantages such as improved security, easy maintenance of records, monitoring activities in residential and commercial areas, and empowering nations against terrorist attacks and external threats at diverse locations. Increased demand for secure storage facilities and robust development in the cloud industry has boosted companies to switch to the bare metal cloud from traditional hosting service. The main benefits include data security, improved performance, and standardized hardware platforms. The factors mentioned above have propelled demand. Furthermore, the bare metal cloud is gaining traction and experiencing high demand from different industries, owing to the demand for secure platforms, streamlined data operations, etc. However, lack of knowledge and huge investment cost are the factors hampering the market growth.
Market leaders are more focus on partnership, collaboration, mergers and acquisitions, and new product launches For instance, In Nov 2020, Limestone Networks Launches New York Bare-Metal Hosting Service. Leading players ruling the market include Oracle Corporation, IBM Corporation, Internap Corporation, Rackspace Inc., Centurylink Inc., Packet, Limestone Networks Inc., Datapipe, Inc., Scaleway, and Bigstep Technologies Pvt. Ltd.
The global bare metal cloud market has been segmented into type, deployment, enterprise, end-use, and region.
Analysis by Type
The hardware segment is anticipated to grow rapidly during the forecast period due to the rising number of virtualized data centers. The deployment of these systems helps in the easy integration of system data with hardware, hence allowing the centralization of infrastructure with enhanced security. The augmented use of internet-based technologies and electronic devices is likely to drive bare metal cloud market growth further.
Analysis by Deployment
Owing to increased control over the implementation process, customization capabilities, and full ownership features of on-premise deployment, it makes the on-premise segment leading the market in 2019. Benefits such as easy accessibility and improved efficiency of integrated systems, many industries prefer on-premise deployment.
Analysis by Enterprise
In 2019, the small and medium segment led the market owing to the rising demand for streamlining data operations. The bare metal cloud provides data storage facilities with security and easy access to all types of enterprises. Furthermore, medium-scale enterprises use cloud-based data storage to store and network a large volume of information created by various industries.
Analysis by End-Use
In 2019, the telecom & IT segment led the segment due to the rising demand for a globally virtual storage facility. Rising concerns for storing and computing a large volume of data are the rising factors for the bare metal cloud in the telecom and IT sector.
Analysis by Region
Globally, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Among these, North America held the maximum market share in 2019. Factors such as rising investment and growing adoption of cloud service in North America is expected to grow during the forecast period. The rising demand for virtual data storage and secured host service is considered a driving factor for the market. In addition to this, the establishment of a large number of key players and well-aware about the technology midst of small and medium businesses are also boosting the market growth at the regional level.
Asia Pacific region has exhibited the tremendous potential to grow over the forecast period due to the government's focus on infrastructural development. Rising investment in emerging economies such as India and China to improve data protection and related services.
Market Segmentation covered in the Report:
By Type
By Deployment
By Enterprise
By End-Use
By Region