Bare Metal Cloud Market Anticipated to Grow $56.6 Billion By 2028, at 26.1% CAGR
Bare Metal Cloud Market Research
The cost-efficient benefits of bare metal cloud, & integration of big data and IoT by several organizations drive the growth of the bare metal cloud market.
PORTLAND, PORTLAND, OR, UNITED STATES, February 13, 2024 /EINPresswire.com/ -- Bare Metal Cloud offers dedicated, single-tenant cloud servers managed uniquely through a centralized dashboard. This setup ensures enhanced performance and heightened security for cloud deployments, as there are no shared resources accessible to other customers inadvertently. Ideal for IT professionals seeking reliability, adaptability, and scalability in a cloud service while prioritizing control and performance, bare metal cloud enables users to rent specific hardware components from remote service providers.
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Unlike traditional cloud services, bare metal cloud does not come with preinstalled operating systems or virtualization infrastructure. While conventional cloud services allow for the virtualization and partitioning of compute, storage, and database resources, leading to resource sharing among multiple clients, this approach may encounter drawbacks such as resource competition, commonly referred to as the "noisy neighbor problem." Furthermore, insufficient segregation of edge devices and virtual networks can pose security risks. Bare metal cloud mitigates these concerns by providing consumers access to isolated physical resources.
According to a new report published by Allied Market Research, the bare metal cloud market share was valued at $5.6 billion in 2021, and is estimated to reach $56.6 billion by 2031, growing at a CAGR of 26.1% from 2022 to 2031.
The global bare metal cloud market is anticipated to experience growth as more organizations demand that big data and IoT be integrated into their operations. As a result, these growth factors are projected to provide sizable quantities of profit margin during the forecast period. Furthermore, bare metal cloud gives the security and resource control of having own data center without the extra expenses and labor of having to maintain own on-site legacy data center. Bare metal hardware comes pre-built and is ready to provision on-demand.
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Intensifying utilization of bare metal cloud and expanding application in the BFSI sector are driving the growth of the market. In addition, the cost-efficient benefits of bare metal cloud is fueling the growth of market. However, the renewed attention in lightweight hypervisors and negative aspects of bare metal cloud limit the growth for bare metal cloud market forecast. Conversely, investment in emerging technologies Is exploding is anticipated to provide numerous opportunities for the expansion of bare metal cloud market analysis during the forecast period.
Based on service type, the networking services segment has garnered the major share in 2021, generating more than one-fourth of the global bare metal cloud market revenue, owing to the complete control over user's hardware, network, and server architecture. It is the best choice for security-oriented applications that need a dedicated compute environment because of company policy, law, or compliance. The compute services segment is expected to dominate the market by 2031 in terms of revenue. The same segment would display the fastest CAGR of 28.8% throughout the forecast period. The rise in need of most secure cloud servers driving the segment's growth.
Depending on the industry vertical, BFSI segment dominated the market in 2021 and is expected to continue this trend during the forecast period, owing to the adoption of paperless storage, virtualization, and electronic banking by the BFSI sector has raised demand for safe, affordable, and energy-efficient data storage. In addition, a sizable amount of private information is generated and needs to be processed before being stored in a safe place. Concerns regarding the safety and security of client information are also rapidly expanding. However, the IT and telecom are expected to witness the highest growth in the upcoming years, owing to increasing digitalization amongst different industries. Moreover, telecom operators have significantly increased their efforts to virtualize portions of their mobile networks, known as virtualized radio access network (vRAN), which is mainly seen as a step forward in the evolution of mobile networks as 5G rollouts gain steam.
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Based on enterprise size, the large enterprises segment held the highest share in 2021, holding more than two-thirds of the global bare metal cloud market revenue, and is projected to maintain its dominance by 2031. On the other hand, the small and medium enterprise (SMEs) segment would showcase the fastest CAGR of 27.8% during the forecast period. The growth of segment is driven by the need of continuing scalability and quick deployment, to avoid capital expenditures for the subsequent equipment lifestyle.
Region wise, the bare metal cloud market was dominated by North America in 2021 and is expected to retain its position during the forecast period, owing to rise in number of IoT applications hosted on bare metal clouds and increasing investments in emerging technologies such as big data, social media, and due to mobility. As a result, rapid implementation of these technologies is creating opportunities for the growth of bare metal cloud market. However, Asia Pacific is expected to witness significant growth during the forecast period, owing to the increasing investment for the development of cloud infrastructure with the installation of smart technologies such as AI and ML.
The growth of bare metal cloud market is attributed to the growing government initiatives and activities for the adapting cloud-based services. Government is taking constant efforts for the deployment of cloud to support end-users to enhance services across a range of verticals. Key players are collaborating with government to provide enhanced services. For instance, in August 2021, Oracle and Indian government collaborated to deploy cloud regions in Hyderabad and Mumbai. The empanelment, which was granted by the Ministry of Electronics and Information Technology, designates Oracle as an approved cloud service provider in India. This will help fulfill the digital India vision the watershed government initiative that is spreading high-speed digital infrastructure, digital government services, and digital literacy to even the most remote areas in the country.
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The COVID-19 crisis had caused a sharp increase in the demand for bare metal cloud services among businesses for load balancing to improve workload allocation, provide multiple database homes on a single server, offer customized networks for high performance, maximize IT resource access & physical security, facilitate high data security, and achieve strategic business initiatives. Key market participants worked together and improved bare metal cloud services during the Covid-19 pandemic. For instance, in September 2020, Oracle and Rescale's launched turnkey bare-metal cloud to enterprises. Its platform helps engineers and scientists build, compute, analyze, and scale simulations with high performance computing. With Oracle Cloud Infrastructure it also provides customers with the perfect platform for high performance computing that can be deployed in minutes with maximized control, transparency, and security. Such developments during covid-19 pandemic helped the bare metal cloud market growth.
Leading Market Players-
• LUMEN TECHNOLOGIES
• Dell Technologies Inc.
• Google LLC
• Oracle Corporation
• Alibaba Cloud
• RACKSPACE TECHNOLOGY
• Internap Holding LLC
• Amazon Web Services, Inc.
• International Business Machines Corporation
• Microsoft Corporation
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