Bare Metal Cloud Market Global Report 2023-2028: Superior Performance for Workloads Requiring High Computational Power, Low Latency, and Resource Isolation to Drive Market
DUBLIN, Dec. 6, 2023 /PRNewswire/ -- The "Bare Metal Cloud Market by Service Type (Compute, Networking, Database, Security, Storage, Managed), Organization Size (Large, SMEs), Vertical (BFSI, Healthcare & Life Sciences, Manufacturing) and Region - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The bare metal cloud market size is expected to grow from USD 8.5 billion in 2023 to USD 19.1 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 17.4% during the forecast period.
The market study covers the bare metal cloud market across segments. It aims to estimate the market size and the growth potential of this market across different segments, such as service types, organization size, vertical, and region. It includes an in-depth competitive analysis of the key players in the market, their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
The emergence of AI and ML applications offers opportunities for the bare metal cloud market growth. Lack of isolation in multi-tenant environments represents a significant challenge for the growth of the bare metal cloud market.
The report also delves into the market shares, growth strategies, and service offerings of leading players like IBM (US), Oracle (US), AWS (US), Lumen (US), Rackspace (US), Internap (US), Dell (US), Equinix (US), Google (US), Microsoft (US), among others in the bare metal cloud market.
As per service type, the storage services segment to hold the second largest market share in 2023
Bare metal cloud storage services offer a robust and high-performance solution for organizations seeking dedicated and scalable storage resources in the cloud. Bare metal cloud storage eliminates the overhead of virtualization, resulting in low-latency, high-speed access to storage resources.
This is essential for applications that rely on fast and consistent data retrieval and storage, such as big data analytics, high-resolution media processing, and database operations. Organizations can quickly scale their storage infrastructure up or down based on their specific needs without the constraints of shared virtualized storage.
Whether managing growing datasets or accommodating fluctuating storage demands, bare metal cloud storage services provide the flexibility to ensure optimal resource utilization. Further, bare metal cloud storage services typically offer data redundancy and backup options to enhance data durability and availability. This is crucial for maintaining data integrity and ensuring business continuity during hardware failures or unexpected incidents.
As per vertical, the manufacturing vertical is to hold second second-largest market shae in 2023
The manufacturing industry is undergoing a digital transformation, often referred to as Industry 4.0. Key technological trends aligning with bare metal cloud adoption include IoT integration, big data analytics, AI, and edge computing.
For instance, General Electric, a global manufacturing company, utilized a bare metal cloud to optimize its operations by harnessing dedicated, high-performance servers. These servers facilitate real-time data analysis from sensors and IoT devices embedded within their equipment, enabling predictive maintenance. The bare metal cloud finds applications in quality control within the manufacturing domain.
This real-time analysis detects defects and inconsistencies, ensuring that only high-quality products reach the market. Supply chain optimization is another vital application, allowing manufacturers to track inventory, forecast demand accurately, and cost-effectively optimize logistics.
Latin America region is projected to witness the second-highest CAGR during the forecast period
Due to several compelling factors, Latin America has emerged as a favorable destination for the growth of the cloud industry. These include the region's unmet demand for cloud services, its substantial population, often concentrated in major urban centers, and its openness to both US and Chinese cloud service providers.
As Latin America increasingly becomes an emerging market for major cloud providers, the local tech sectors could reap the most significant benefits. Cloud-related activities have already boosted various related industries in the region, including the leased data center sector. As Latin American businesses invest more in cloud computing, they are increasingly seeking ways to improve the performance of their applications and workloads. Bare metal cloud solutions provide dedicated physical servers without virtualization layers, ensuring consistent and high-performance computing resources.
Case Study Analysis
For more information about this report visit https://www.researchandmarkets.com/r/ahizvl
Research and Markets
For E.S.T Office Hours Call +1-917-300-0470
U.S. Fax: 646-607-1907
View original content:https://www.prnewswire.com/news-releases/bare-metal-cloud-market-global-report-2023-2028-superior-performance-for-workloads-requiring-high-computational-power-low-latency-and-resource-isolation-to-drive-market-302007412.html
SOURCE Research and Markets