HG Insights’ 2023 Infrastructure as a Service (IaaS) Market Report highlights a $150 billion global market driven by 2.1 million buyers and a 29.8% annual growth rate—the highest among cloud sectors. The number of deployed cloud applications reached 67.6 million, marking 252% growth in five years. North America leads in IaaS adoption, while APAC and LATAM show the fastest growth. Multi-cloud strategies are rising, especially among startups and mid-market firms. AWS, Microsoft Azure, and Google Cloud dominate market share, with AWS serving 2.5 million customers. Finance, manufacturing, and public administration lead IaaS-related IT spending.

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