According to The Business Research Company’s Bare Metal Cloud , The bare metal cloud market size has grown exponentially in recent years. It will grow from $8.46 billion in 2023 to $10.35 billion in 2024 at a compound annual growth rate (CAGR) of 22.4%. The growth in the historic period can be attributed to demand for high-performance computing, need for isolation and dedicated resources, growth in data-intensive applications, adoption of bare metal cloud for big data analytics, increased security and compliance requirements.
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The bare metal cloud market size is expected to see exponential growth in the next few years. It will grow to $24.8 billion in 2028 at a compound annual growth rate (CAGR) of 24.4%. The growth in the forecast period can be attributed to growth in hybrid cloud deployments, increased adoption by small and medium enterprises (smes), emphasis on bare metal cloud for artificial intelligence (ai) workloads, expansion of bare metal cloud for high-performance gaming, integration of bare metal cloud with edge computing. Major trends in the forecast period include bare metal cloud for containerized workloads, customizable bare metal instances and configurations, adoption of bare metal cloud in 5g networks, focus on sustainable and green bare metal cloud solutions, integration of bare metal cloud with network function virtualization (nfv).
The increasing adoption of cloud services is expected to propel the growth of the bare metal cloud market going forward. Cloud services refer to the set of services provided by the third-party organization on demand of client companies or customers via the internet to conduct smooth business operations. Bare metal cloud allows organizations to access to a dedicated server, without virtualization. For instance, in 2021, according to a US-based learning company’s O’Reilly Media, Inc survey, approximately 90% of organizations are using cloud computing in the year 2021 as compared to 88% last year. Also, nearly 37% respondents said that they plan to be cloud native within three or more years. Therefore, the increasing adoption of cloud services and enterprise mobility services is driving the bare metal cloud market growth.
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The bare metal cloud market covered in this report is segmented –
1) By Component Type: Hardware, Software, Services
2) By Organization Size: Large Enterprises, SMEs
3) By Vertical: Banking, Financial, Services, And Insurance (BFSI), Retail And Consumer Goods, IT And ITeS, Telecommunications, Healthcare And Life Sciences, Manufacturing, Media And Entertainment, Government
Technological advancements is a key trend gaining popularity in the bare metal cloud market. Major companies in the bare metal cloud market are focusing on advancing their new technologies to offer different automated platforms for control over edge deployments and accelerated private cloud deployments. For instance, in June 2023, Firmus, an Australian-based immersion cooling specialist, and ST Telemedia Global Data Centres (STT GDC), a Singapore-based data center service provider, joined forces and jointly launched the Sustainable Metal Cloud (SMC) in the Asia Pacific region. This technological innovation introduces a bare-metal cloud service tailored for high-performance AI clusters, utilizing Nvidia A100 and H100 GPUs. What sets SMC apart is its utilization of immersion cooling technology, with Firmus’ immersion tanks housed in 1MW shipping containers, known as ‘Hypercubes,’ strategically placed within STT GDC data centers across Singapore, India, and Australia. The aim is to provide sustainable and highly efficient solutions for AI and visual computing.
The bare metal cloud market report table of contents includes:
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Top 5 Major Key Players Are:
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