Services Segment To Take Center Stage In The Cloud Infrastructure Market As It Surges Past Us$ 465 Billion By 2032, Persistence Market Research

The cloud infrastructure market revenues were estimated at US$ 188.4 billion in 2021 and are anticipated to expand at 8.3% CAGR from 2023 to 2033, according to a Persistence Market Research (PMR) report. Private infrastructure dominates the cloud infrastructure market with a projected CAGR of 8.1% from 2022 to 2032 due to its enhanced control and security over sensitive data and applications. Big data, artificial intelligence (AI), and machine learning (ML) are being used increasingly, which is causing the industry to grow. Businesses that embrace cutting-edge technology and cloud solutions improve their ability to visualize information and make challenging data accessible and usable. The broad use of AI and ML technologies has controlled data usage and reduced the difficulties associated with data storage. Increasing adoption of hybrid and multi-cloud infrastructure or leveraging cloud-based solutions are also driving the growth of the cloud infrastructure market.