Global bare metal cloud market will reach $12.28 billion by 2025, from just $1.43 billion in 2016, according to a report by Research and Markets.
The bare-metal cloud is a type of public cloud service in which the consumer rents hardware resources from a remote service provider. Enterprises across several industries use bare-metal cloud to reduce costs and to have flexibility in IT environment.
The bare-metal market growth is driven by adoption of technology in several prominent industries including BFSI, IT & telecommunication, government and others.
Further, the demand of opening own data center space by enterprises will also significantly drive the market growth. According to the report, the telecom and OTT service providers were already investing in bare metal cloud to establish their own data center space and increase market share.
Small and medium sized enterprises rely on third-parties for cloud hosting systems, but the large enterprises would opt for their own space in future for better security measures.
With datacenters being used in almost all the industries, the bare-metal cloud technology finds its applications majorly in BFSI, manufacturing, government, technology, IT and telecom, retail, and healthcare.
Also read: Global modular data center market expected to touch $59 billion by 2023: KBV Research