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2023 IaaS Market Report Revealed: $150B and Counting


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HG has identified 2.1 million businesses buying Infrastructure as a Service (IaaS), with a total value of $150 billion.

HG Insights recently released its latest report on the 2023 Infrastructure as a Service (IaaS) market and revealed significant insights into a highly competitive industry. The report, gleaned from proprietary data on over 7 million cloud buyers worldwide and the 67.6 million cloud applications currently deployed, was conducted by HG Insights’ Global Sensor Network.

A key finding to note from the report was the data itself — The number of cloud applications on the market represents a 252% increase over the last five years. This shows that the space is growing in leaps and bounds as new cloud application services join the ranks.

Over the past five years, we have seen 252% growth in cloud applications.

Gartner forecasts that out of all public cloud sectors, IaaS will experience the highest growth in end-user spending at 29.8% in 2023. Vice President Analyst at Gartner Sid Nag predicts that the coming phase of growth in IaaS will be driven by customer experience, the virtual-first world, as well as digital and business outcomes.

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Insights from the 2023 Infrastructure as a Service (IaaS) Market Report

Beyond the ballooning of cloud application services, HG Insights uncovered that the market is experiencing unprecedented buyer growth. The IaaS buyer landscape shot up 29.8% in 2023, marking a significant increase in global spend. Currently, the IaaS market is valued at over $150 billion.

In addition to these key takeaways, the fifth annual HG Insights IaaS Market Report (previously the Intricately Cloud Hosting Report) unveils: 

  • The kinds of businesses buying IaaS, and their locations
  • The rate of multi-cloud adoption among IaaS buyers
  • The IaaS industry leaders and startups to watch
  • The leading IaaS providers by customer satisfaction and G2 ratings

To take a deep dive into the numbers and read the report for yourself, download your copy now! The report is free and was created by Hg Insights to provide you with insights on the IaaS market. 

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About HG Insights

HG Insights, the provider of data-driven insights to 75% of tech companies in the Fortune 100, is your go-to-market Technology Intelligence partner.

We use advanced insights into Technology Intelligence — on IT spend, technographics, cloud usage, intent signals, Functional Area Intelligence, contract details, and AI maturity — to provide global B2B companies with a better way to analyze markets and target prospects. Our customers achieve unprecedented results in their marketing and sales programs thanks to the indexing of billions of unstructured documents each day with insights into product adoption, usage, spend data, and more to build high-resolution maps of activity across an organization’s entire digital infrastructure to power business decisions with precision and confidence.

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