According to the NIST definition of cloud computing, Infrastructure as a Service (IaaS) is a cloud service model that provides “the capability to provision processing, storage, networks, and other fundamental computing resources where the consumer is able to deploy and run arbitrary software, which can include operating systems and applications” 1. The consumer does not manage or control the underlying cloud infrastructure but has control over operating systems, storage, and deployed applications; and possibly limited control of select networking components (e.g., host firewalls) 1. In other words, IaaS gives the user access to cloud-hosted physical and virtual servers, storage, and networking, as stated in the question. References: 1: SP 800-145, The NIST Definition of Cloud Computing | CSRC 2