TechNavio's new report projects the public sector's demand for low-cost infrastructure maintenance to drive a 31.0 percent compound annual growth rate of the global information technology-as-a-service market from 2014 through 2019.
Reportlinker notes that companies have been expanding their virtualization usage through the ITaaS model, which the market research vendor says comprises the software-, platform- and infrastructure-as-a-service models.
Reportlinker also cites standardization of products and services delivery, lower consumption cost and improved financial transparency as some of ITaaS' benefits.
TechNavio took account of the revenue generated from IaaS, SaaS and PaaS markets when it calculated the global ITaaS market size.
The report predicts data security issues to present market restraints.