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Infrastructure-as-a-Service Market to Be Worth $512.4 Billion by 2031 – Exclusive Report by Meticulous Research®

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REDDING, Calif., July 3, 2024 /PRNewswire/ — According to a new market research report titled, ‘Infrastructure-as-a-Service Market by Offering (Compute, Storage, Others), Deployment (Public, Private, Hybrid), Organization Size, Application (Hosting, Others), Sector (IT & Telecommunications, BFSI, Others), and Geography – Global Forecast to 2031,’ the infrastructure-as-a-service market is projected to reach $512.4 billion by 2031, at a CAGR of 23.1% from 2024–2031.

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In cloud computing, there are three main categories of services, namely, Infrastructure-as-a-Service (IaaS), Platform-as-a-Service (PaaS), and Software-as-a-Service (SaaS). Infrastructure as a service (IaaS) is a form of cloud computing that provides access to cloud infrastructure resources from cloud service providers (CSPs), including servers, virtual machines, networking resources, and storage. Organizations use the IaaS to migrate IT infrastructure to the cloud. It helps to reduce the maintenance of on-premises data centers, save money on hardware costs, and gain real-time business insights. It also helps to provision new applications and adopt advanced technologies such as AI, ML, and big data.

Enterprises are adopting the IaaS model to eliminate the complexity and costs associated with building and maintaining physical infrastructure in an on-premises data center. The CSPs are responsible for managing and maintaining the infrastructure. The IaaS model is a pay-as-you-go basis that only allows for a particular resource that the consumer uses. IaaS gives flexibility to easily increase or decrease resources, allowing consumers to pay less when needed or instantly provision and scale out resources to meet new demands.

The infrastructure-as-a-service market is segmented by offering (compute, network, storage, other offerings), deployment mode (public cloud, private cloud, hybrid cloud), organization size (large enterprises, small & medium-sized enterprises), application (testing and development, hosting, storage, backup, and recovery, high performance computing, other applications), sector (IT & telecommunications, BFSI, healthcare, retail & e-commerce, government & defense, manufacturing, transportation & logistics, other sectors). The study also evaluates industry competitors and analyzes the market at the regional and country levels.

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Based on offering, the infrastructure-as-a-service market is segmented into compute, network, storage, and other offerings. In 2024, the compute segment is expected to account for the largest share of above 42% of the infrastructure-as-a-service market. The large market share of this segment is attributed to the increasing use of virtualized computing resources by SMEs due to limited IT budgets and increasing digital transformation by various sectors to transfer their workload to the cloud.

Based on deployment mode, the infrastructure-as-a-service market is segmented into public cloud, private cloud, and hybrid cloud. In 2024, the public cloud segment is expected to account for the largest share of above 50% of the infrastructure-as-a-service market. The large market share of this segment is attributed to the increasing use of the public cloud by small and medium-sized enterprises due lower cost of subscription-based or pay-per-usage pricing models in the public cloud.

Based on organization size, the infrastructure-as-a-service market is segmented into large enterprises and small & medium-sized enterprises. In 2024, the large enterprises segment is expected to account for the larger share of the infrastructure-as-a-service market. The large market share of this segment is attributed to the growing adoption of advanced technologies such as cloud computing, AI, and blockchain, and the rapid migration of IT infrastructure in the cloud.

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Based on application, the infrastructure-as-a-service market is segmented into testing and development, hosting, storage, backup and recovery, high performance computing, and other applications. In 2024, the storage, backup, and recovery segment is expected to account for the largest share of around 38% of the infrastructure-as-a-service market. The large market share of this segment is attributed to the increasing use of cloud storage applications in large enterprises due to the increasing volume of data and growing demand across SMEs to avoid the complexity of storage management, the lack of skilled professionals, and reduce cost.

Based on sector, the infrastructure-as-a-service market is segmented into IT & telecommunications, BFSI, healthcare, retail & e-commerce, government & defense, manufacturing, transportation & logistics, and other sectors. In 2024, the IT & telecommunications segment is expected to account for the largest share of around 32% of the infrastructure-as-a-service market. The large market share of this segment is attributed to the increasing adoption of advanced technologies, including cloud computing, and the increasing use of the IaaS model to reduce data centers and increase storage capacity. Telecommunications operators are migrating to cloud infrastructure to decrease operational costs and increase deployment times. For instance, Deutsche Telekom AG (Germany) is using Amazon Web Services, Inc. (U.S.) and Microsoft Corporation (U.S.) cloud infrastructure to reduce its data centers from 89 to 13 across the globe and increase computing and storage capacity by around 25%.

Based on geography, the infrastructure-as-a-service market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, North America is expected to account for the largest share of around 46% of the infrastructure-as-a-service market. The market growth in North America is driven by the increasing government initiatives for the implementation of cloud computing technologies, the presence of major technology companies in the region, the high acceptance & extensive adoption of cutting-edge technologies in the region, and growing cloud adoption to manage security, infrastructure, network, business continuity, mobility, and regulatory standards within the cloud infrastructure. Companies are increasingly adopting cloud infrastructure to improve business productivity and decision-making capabilities by migrating their on-premise workload to the cloud. For instance, in April 2022, Amazon Web Services, Inc. (U.S.) extended its partnership with Boeing (U.S.), the leading manufacturer of airplanes, rotorcraft, rockets, satellites, and telecommunications equipment, to migrate Boeing’s applications from on-premises data centers to AWS cloud to strengthen their engineering and manufacturing processes.

The key players operating in the infrastructure-as-a-service market are Amazon Web Services, Inc. (U.S.), Microsoft Corporation (U.S.), Alibaba Cloud (China), Google LLC (U.S.), Huawei Technologies Co., Ltd. (China), Oracle Corporation (U.S.), IBM Corporation (U.S.), Cisco Systems, Inc. (U.S.), SAP SE (Germany), VMware, Inc. (U.S.), Rackspace Technology, Inc. (U.S.), DigitalOcean LLC (U.S.), Hewlett Packard Enterprise Company (U.S.), Tencent Cloud (China), Linode LLC (U.S.), NTT Communications Corporation (Japan), Utho (India), and Vultr (U.S.).

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Scope of the Report:

Infrastructure-as-a-Service Market Assessment—by Offering

StorageComputeNetworkOther Offerings

Infrastructure-as-a-Service Market Assessment—by Deployment Mode

Public CloudPrivate CloudHybrid Cloud

Infrastructure-as-a-Service Market Assessment—by Organization Size

Large EnterprisesSmall & Medium-sized Enterprises

Infrastructure-as-a-Service Market Assessment—by Application

Storage, Backup, and RecoveryHigh Performance ComputingHostingTesting and DevelopmentOther Applications

Infrastructure-as-a-Service Market Assessment—by Sector

IT & TelecommunicationsRetail & E-commerceBFSIManufacturingHealthcareTransportation & LogisticsGovernment & DefenseOther Sectors

 Infrastructure-as-a-Service Market Assessment—by Geography 

North AmericaU.S.CanadaAsia-PacificChinaJapanIndiaSouth KoreaRest of Asia-PacificEuropeU.K.GermanyItalySpainFranceRest of EuropeLatin AmericaMiddle East & Africa

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Related Reports:

Platform-as-a-Service Market by Type (Application PaaS, Integration PaaS, Database PaaS, Other PaaS), Deployment Mode (Private PaaS, Public PaaS, Hybrid PaaS), Organization Size (SMEs and Large Enterprises), Sector (IT & Telecom, Retail & E-commerce, Healthcare, BFSI, Manufacturing, Government & Defense, Energy & Utility) – Global Forecast to 2030

Cybersecurity-as-a-Service Market by Application (Network Security, Cloud Security, Endpoint Security, Application Security), Organization Size, Sector (BFSI, IT & Telecommunications, Retail, Healthcare), and Geography – Global Forecast to 2030

Cloud Computing Market by Service Model (Infrastructure as a Service, Platform as a Service, and Software as a Service), Deployment Mode, Organization Size, End User (BFSI, Retail, and Healthcare), and Geography – Global Forecast to 2030

Cloud Managed Services Market by Type, Deployment Mode, Organization Size, Sector (IT & Telecommunications, BFSI, Retail & Consumer Goods and Healthcare & Life Sciences)—Global Forecast to 2030

About Meticulous Research®

Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.

Contact:
Mr. Khushal Bombe
Meticulous Market Research Inc.
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California, 96001, U.S.
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Visit Our Website: https://www.meticulousresearch.com/
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IMTEX, Tooltech & Digital Manufacturing 2025: An exhibition of India’s manufacturing prowess

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Indian Machine Tool Manufacturers’ Association (IMTMA) to Organise the 22nd Edition of IMTEX

Over 1,100 Exhibitors from 23 Countries Set to Showcase Cutting-Edge Manufacturing Technologies Across 90,000 Square Metres

BENGALURU, India, Dec. 26, 2024 /PRNewswire/ — India’s manufacturing ecosystem is undergoing rapid changes with the onset of new and emerging technologies to meet domestic and global needs. A technology enthusiast’s quench gets satisfied when he sees and experiences an innovative and revolutionary technology. IMTEX is where every technology enthusiast will have something to see, experience, and carry. 

Being a part of IMTEX is an amazing experience, as the exhibition creates a welcoming atmosphere for its visitors, showcasing the machine tool industry in a grand light. Every business visitor who attends IMTEX considers it a privilege to do business, and importantly, it is one of those top-notch exhibitions that showcases a new and confident India.

Organized by Indian Machine Tool Manufacturers’ Association (IMTMA), IMTEX, Tooltech & Digital Manufacturing 2025 will be held at Bangalore International Exhibition Centre (BIEC) in Bengaluru, Karnataka, from 23 to 29 January 2025.

IMTEX 2025 is very special as it is set to surpass all its previous editions, occupying 90,000 square meters of space in eight halls. Over 1,100 exhibitors from 23 countries showcasing new products and technologies in the form of live machines are expected to participate. Countries like Germany, Italy, Japan, Korea, Spain, Taiwan, and the United States of America have separate pavilions. IMTMA anticipates participation from around 2,000 trade delegations representing various user industries.

Tooltech, focusing on tools and dies, and Digital Manufacturing, showcasing Industry 4.0 and additive manufacturing advancements, will be held as concurrent shows. International Seminar on Machining Technologies, to be held on 24 and 25 January, will throw light on the emerging technologies in metal cutting technologies. International experts from various countries will deliberate upon the innovations and global best practices. 

The exhibition will have interesting parallel events, such as i2 Academia Square comprising Academia Pavilion with institutions presenting innovative projects undertaken by students, helping bridge the gap between academic and industrial circles. Manufacturing Technology Quiz Contest along with TechTalk will be added attractions.  

IMTMA will be holding the ‘Engagement with Overseas Buyers’ on 25 and 26 January, as part of the buyer-seller meet promoting exports of the Indian machine tool industry. Further, the Jagruti-IMTMA Youth Programme, an initiative to raise awareness about the latest advancements in the manufacturing industry, would help students stay updated with technological developments.

Two new seminars will be organized in IMTEX 2025 for the first time.

IMTMA, along with ACMA (Automotive Component Manufacturers Association of India), will be holding an Auto Components Industry Transformation Summit on 26 January. The seminar is expected to further buttress machine tool and auto component industry relations.

JMTBA Seminar on Export Controls for Japanese Machine Tools will be held at IMTMA Technology Centre in Bengaluru on 27 January 2025. The seminar will help strengthen business relations between India and Japan.

Engineering at its best

The kind of innovation that exists in industry at every level, small, medium, or large, finds its place in IMTEX. The exhibition has consistently showcased advancements in technologies, from traditional machines to cutting-edge CNC and digital manufacturing solutions, giving a first-hand view of the capabilities and potentials of technologies that are on display.

This results in facilitating technology transfer and collaborations and encourages foreign investments, driving innovation and development in the Indian and Asian machine tool and manufacturing industries.

In this edition, exhibitors are expected to display cutting-edge technologies that are vital in addressing the need for quality and precision manufacturing in every industry sector, according to Mr. Jibak Dasgupta, Director General & CEO, IMTMA. There is renewed enthusiasm among exhibitors and visitors to forge relations, enhance opportunities, and advance manufacturing to new levels, he adds.

For more information about IMTMA, please visit: https://www.imtma.in/

About IMTEX, Tooltech & Digital Manufacturing 2025

IMTEX, Tooltech & Digital Manufacturing 2025, organized by the Indian Machine Tool Manufacturers’ Association (IMTMA), is one of India’s premier exhibitions showcasing the country’s manufacturing prowess. Scheduled from 23–29 January 2025 at the Bangalore International Exhibition Centre (BIEC), Bengaluru, the event will feature over 1,100 exhibitors from 23 countries, across 90,000 square meters in eight halls. The exhibition will highlight cutting-edge technologies in machine tools, automation, and digital manufacturing, alongside concurrent events such as the Tooltech and Digital Manufacturing shows, international seminars, and buyer-seller meet programs. IMTEX serves as a global platform for technology exchange, fostering business collaborations, innovation, and export opportunities within the machine tool and manufacturing sectors.

For more information about IMTEX, please visit: https://www.imtex.in/

 

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World’s Largest Modular Student Residence Opens in Hong Kong CIMC Sets Benchmark for Construction Efficiency and Sustainability

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News Lead: The opening of the world’s largest modular student residence has attracted widespread attention from public. The project was completed two years ahead of schedule, showcasing groundbreaking efficiency and advanced construction technology in educational infrastructure.

SHENZHEN, China, Dec. 26, 2024 /PRNewswire/ — A Benchmark in Global Educational Infrastructure

Recently, the City University of Hong Kong (CityU) held an opening and naming ceremony for the Lee Shau Kee Student Residence Village (hereinafter referred to as “the Residence Village”).

Recognized as the world’s largest modular student residence (calculated by the number of bed spaces), the Residential Village was built in partnership with main contractor Gammon Construction Limited and module supplier CIMC Modular Building Systems (CIMC MBS), a subsidiary of CIMC Group.

The Residential Village was opened in the third quarter of 2024 after commencing the construction work in 2022. Utilizing CIMC volumetric modular construction technology, completion was achieved two years ahead of the original schedule, setting a new benchmark for efficient construction speed and advanced technology in the field of global educational infrastructure.

The Residence Village covers a total construction area of approximately 48,000 square meters, consisting of six buildings ranging from 13 to 18 stories. The overall building complex involves over 1,300 modules and provides more than 2,000 bed-spaces for CityU’s undergraduate and graduate students.

In addition to hostel rooms, there are communal rooms, corridors, rest rooms and plant rooms constructed using the CIMC modular construction technology.

During the construction process, innovative MiMEP (Multi-trade Integrated Mechanical, Electrical and Plumbing) technology was adopted. The pre-assembled MEP cassettes were integrated and installed in the CIMC factory within the modules before being transported to the site for installation. This approach reduced overall installation time by 50%.

Up to 90% of the aluminum cladding system was also prefabricated and installed in the factory, including the projecting horizontal and vertical fins. The aluminum feature fins were designed to conceal all the external pipe works providing an attractive appearance whilst also providing access for future maintenance.

In addition, CIMC Modular utilizes its self-developed digital systems, such as project management cockpit and quality digital monitoring systems, to provide a “smart brain” for project construction. Through these systems, multiple production processes are monitored, achieving full digital management and process traceability for module production, transportation, and installation, thereby providing strong support for quality project delivery.

Modular Construction Technology Is Addressing Hong Kong’s Urban Development Challenges

For a long time, Hong Kong has faced multiple challenges, including restricted land resources, diversified construction demands, and an urgent desire for efficient and environmentally friendly building methods. Traditional construction methods have gradually revealed issues such as long construction periods, significant noise pollution, and excessive construction waste, making it difficult to meet Hong Kong’s rapidly evolving needs. The emergence of volumetric modular construction technology has brought new hope to address these challenges.

Off-site volumetric modular construction technology adopts the concept of ” factory assembly followed by on-site installation,” transfers 90% of on-site construction processes to a controlled factory environment. In this method, free-standing integrated modules (completed with finishes, fixtures, and fittings) are manufactured and assembled in a factory, buildings can be substantially completed off-site.

This significantly reduces construction time and minimizes the impact of weather conditions and site constraints, while also providing a great degree of production quality control, and can improve construction productivity, cost-effectiveness, safety, and sustainability.

In the construction of the Residence Village, this on-site installation method resulted in a 75% reduction in construction noise and a 68% decrease in construction waste. By using low-carbon concrete and rebar as building materials and replacing diesel generators on-site with grid-powered facilities, the project also significantly reduced the carbon footprint generated during its construction period. These figures clearly reflect the substantial environmental benefits of this technology, effectively minimizing its impact on the surrounding environment and residents’ lives and providing a successful example of green construction for global building projects.

It is worth noting that the successful implementation of the Residence Village project is an important milestone in promoting the development of volumetric modular construction technology in Hong Kong, offering valuable experiences for construction projects in Hong Kong and the worldwide, guiding the industry toward a more efficient, environmentally friendly, and intelligent future.

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SOURCE CIMC

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India’s Thriving Tech Hub Fuels Kimberly-Clark’s Digital Transformation

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Kimberly-Clark Expanding Investments in India

BENGALURU, India, Dec. 26, 2024 /PRNewswire/ — Kimberly-Clark, a global leader in essential personal and family care products, continues to increase its commitment to India through its Global Digital Technology Center (GDTC) in Bengaluru.

Established in 2018 with an initial investment of $2.5 million, the Bengaluru GDTC has seen remarkable growth, expanding its size by eight times in just five years. The center focuses on key areas and digital capabilities such as Data and Analytics, Artificial Intelligence (AI) including Generative AI, Machine Learning (ML), Cloud Transformation, Global Digital Operations & Automation, Digital Sales and Marketing, and Digital Supply Chain – all of which help drive efficiencies and improve customer experiences. Over the next three years, the GDTC plans to continue its expansion, focusing on advancing AI/ML capabilities and developing innovative digital solutions to boost operational efficiency and customer engagement. These capabilities further enhance Kimberly-Clark’s ability to deliver on its global Powering Care strategy – shared earlier this year – and, in turn, strengthen its longstanding commitment to consumer-centricity.

While the Bengaluru GDTC is driving Kimberly-Clark’s technological advancements, it’s also contributing to India’s broader tech and innovation ecosystem. By collaborating with local startups, academic institutions, and industry partners, the center aims to foster cutting-edge solutions.

“Our Bengaluru GDTC is a testament to Kimberly-Clark’s deep-rooted commitment to innovation and the immense breadth of Indian talent,” said Zack Hicks, Chief Digital and Technology Officer, Kimberly-Clark. “In just five years, the center has evolved into a key growth engine for our digital strategies, delivering AI-powered commercial and supply chain solutions, and pioneering advancements in modern manufacturing. Looking ahead, we remain focused on further investing in India, leveraging the country’s outstanding talent and technological expertise to shape the future of Kimberly-Clark and pioneer industry-leading innovation in our core categories.”

The integration of data and advanced analytics is at the core of the Bengaluru GDTC’s success. By leveraging AI/ML algorithms built on their enterprise data lake, the team is also optimizing sales predictions, refining pricing strategies for e-commerce, and automating routine tasks such as order entry and invoice processing. In 2024, efforts in Gen AI platforms originating from the GDTC improved the employee productivity by up to 25%, and the development of AI-powered sales and revenue analytics drove a 10% improvement in sales execution across regions like Europe, the Middle East, and Africa. These innovations not only streamline operations and reduce costs but also boost accuracy and efficiency.

One of the center’s major achievements is the development of Maestro, an AI-powered supply chain orchestration platform that has delivered more than $20 million in global savings for Kimberly-Clark. Another transformative innovation is the Warehouse Automation Platform, which seamlessly integrates warehouse robotics with supply chain systems, reducing new solution deployment timelines from 18 months to 4 months, and generating savings exceeding $50 million. The GDTC’s collaborative efforts have also resulted in the creation of Procuree 3.0, an inhouse Source-to-Pay chatbot powered by Generative AI that enhances Kimberly-Clark’s procurement processes across 42 countries and 14 languages.

Recently, the GDTC held its third Digital Hackathon under the theme ‘UNLOKC 2024,’ bringing together Kimberly-Clark employees and technology partners to develop digital solutions that contribute to business opportunities in areas such as supply chain, marketing, and finance. Over 130 innovative ideas were submitted within four weeks, and the 7 project finalists were awarded by the Digital Technology global leadership team during the Hackathon’s final event in Bangalore. These finalists will receive support to develop their projects in the near future.

As Kimberly-Clark’s largest technology hub, the Bengaluru GDTC is positioned to remain a critical driver of growth and innovation on a global scale. With plans to continue attracting top-tier talent and expanding its technological capabilities, the center is set to play a pivotal role in shaping the future of the company and its global tech ecosystem.

About Kimberly-Clark:

Kimberly-Clark (NYSE: KMB) and its trusted brands are an indispensable part of life for people in more than 175 countries. Fueled by ingenuity, creativity, and an understanding of people’s most essential needs, we create products that help individuals experience more of what’s important to them. Our portfolio of brands, including Huggies, Kleenex, Scott, Kotex, Cottonelle, Poise, Depend, Andrex, Pull-Ups, GoodNites, Intimus, Plenitud, Sweety, Softex, Viva and WypAll, hold No. 1 or No. 2 share positions in approximately 70 countries. We use sustainable practices that support a healthy planet, build strong communities, and ensure our business thrives for decades to come. We are proud to be recognized as one of the World’s Most Ethical Companies(R) by Ethisphere for the sixth year in a row and one of Fortune’s Most Innovative Companies in America in 2024. To keep up with the latest news and to learn more about the company’s 150-year history of innovation, visit the Kimberly-Clark website.

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