ID: MRFR/ICT/1458-HCR | December 2022 | Region: Global | 100 pages
Impact of COVID-19 on the Global Web-Scale IT Market
Web-scale IT refers to an architectural approach or a global-class of computing used to deliver extensive cloud capabilities of large service providers to an enterprise. IT organizations are progressively adopting a portfolio of cloud services, including platform as a service (PaaS), infrastructure as a service (IaaS), and software as a service (SaaS) during the COVID-19 crisis. The implementation of cloud computing has profited organizations by substantially reducing infrastructure costs and allowing them to focus on their core strengths. However, cloud users have a few concerns, such as data agility, which affect business performance. Thus, the need for delivering cloud computing infrastructure to large cloud-based companies has propelled the growth of the web-scale IT market during the COVID-19 pandemic. New opportunities in cloud computing are emerging with the growth of IT and web-scale IT worldwide.
The demand for web-scale IT has been on the surge during the COVID-19 pandemic. However, this requirement is anticipated to be hindered by the decline in IT expenditure budgets owing to full/partial lockdowns imposed worldwide. The lockdowns have also resulted in serious losses to global businesses. The implementation of the lockdown in numerous countries of the world to suppress the spread of the epidemic has placed restrictions on public gatherings at international events, concerts, theatres, and music festivals, which is hampering the market growth. However, supportive government policies for the industries are projected to stimulate the growth of the web-scale IT market over the forecast timeframe.
Moreover, the market is showing a significant recovery rate, which can be attributed mainly to the remote working policies adopted by several companies to prevent the spread of COVID-19 at workplaces. However, the industry is certainly expected to face challenges in the future, owing to the effects of COVID-19. According to the MRFR analysis, the global web-scale IT market is expected to stabilize by Q1 of 2021.