Middle East public cloud market reached USD 26600 million in 2020 The market is further expected to reach USD 99650 million by 2027 and is projected to grow at a CAGR of 207 during 20212027 ID: 835693
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Middle East public cloud market is expected to remain sturdy: Poised to reach USD 9,965.0 Million by 2027 Middle East Public Cloud Market - Industry Trends & Forecast Report 2027 Summary Middle East Public Cloud Market - By Computing (Cloud Billing, Cloud Communication Platform, Cloud Access Security, Cloud High - Performance Computing, Cloud Infrastructure), By S ervice (SaaS, PaaS, IaaS), By Organization Size (Small & Medium Enterprise, Large Enterprise), By Industry (Manufacturing, BFSI, Healthcare, Retail, Government, Aerospace & Defence, IT & Telecommunication, Others), By Countries (Bahrain, Cyprus, Egypt, Ira q, Iran, Israel, Jordan, Kuwait, Libya, Oman, Qatar, Saudi Arabia, Syria, UAE, Yemen, Others); Trend Analysis, Competitive Ma rket Share & Forecast, 2017 - 2027. A study recently conducted by the strategic consulting and market research firm BlueWeave Consult ing revealed that the Middle East public cloud market reached USD 2,660.0 million in 2020. The market is further expected to reach USD 9,965.0 million by 2027 and is projected to grow at a CAGR of 20.7% during 2021 - 2027 (forecast period). The growth of the Middle East public cloud market has been positively impacted by the exponential rate of IT spending for cloud computing in the Middle East. Additionally, the rising adoption of technologies like the internet of things (IoT), edge computing, 5G, real - time analytics enabled by AI, and ML have also contributed to the growth of the Middle East public cloud market . View report Press release Sample report Middle East public cloud market is expected to remain sturdy: Poised to reach USD 9,965.0 Million by 2027 Middle East Public Cloud Market - Industry Trends & Forecast Report 2027 Middle East public cloud market reached USD 2,660.0 million in 2020. The market is further expected to reach USD 9,965.0 million by 2027 and is projected to grow at a CAGR of 20.7% during 2021 - 2027 (forecast period). The exponential ra te of IT spending for cloud computing is increasing tremendously, which is favorably contributing to the growth of the Middle East public cloud market. Since the next - generation industrial solutions will be cloud - based, they would need a platform to show o ff their digital business capabilities. Moreover, the rise of the internet of things (IoT), edge computing, 5G, real - time analytics enabled by AI, and ML is expected to increase the value of this computing technology among organizations. Middle East Public Cloud Market Overview Cloud computing is a type of computing that utilizes the internet to deliver services such as servers, storage, databases, networking, software, analytics, and other cloud - based resources over the inte rnet. Cloud providers are companies that provide cloud computing services. Public cloud, private cloud, and hybrid cloud are the three types of cloud deployment models. Public cloud services are cloud services that are provided over a network that is open to the public. It is a collection of virtual resources that are automatically provisioned and allocated among several clients via a self - service interface, based on hardware, and owned and managed by a third - party organization. It is a simple approach to s cale out workloads that have unpredictable demand fluctuations. Growth Drivers Increasing penetration of cloud services among SMEs is contributing to the growth of the Middle East public cloud market In the Middle East, SMEs (Small and Medium Enterprises) have started to expand their spending on public cloud services. SMEs in the region are concentrating their efforts on cloud deployments that would enable faster business analytics and artificial intelligence, both of which are major growth drivers for the Middle East public cloud market. SMEs make up more than 94% of companies in the UAE, employing 86% of the private sector's workforce and accounting for 52% of the country's non - oil GDP. The United Arab Emirates and Saudi Arabia are two major countries that are expected to have substantial growth in the coming years as a result of the growing adoption trend among various SME sectors. Increasing demand for AI and Machine Learning across the Middle East is propelling the market growth Since the beginning of th e fourth industrial revolution, businesses in the Middle East have begun to shift their focus to emerging and in - demand technologies such as artificial intelligence (AI) and machine learning (ML). It is worth mentioning that Middle Eastern countries have s een a fast surge in the development and use of AI and ML applications last year. The growing demand for technologies such as big data, AI, ML, the Internet of Things (IoT), and others is expected to propel the Middle East public cloud market. These technol ogies are transforming the Middle Middle East public cloud market is expected to remain sturdy: Poised to reach USD 9,965.0 Million by 2027 East public cloud market by enabling users to monitor, analyze, and visualize unprocessed data. Middle East Public Cloud Market Restraints Data Security and Data Compliance Iss ues might prove to be a bottleneck for the market Users utilize cloud services to save confidential data and information about their business and personal activities. Privacy and security concerns about data loss, data breaches, unforeseen emergencies, app lication vulnerabilities, and online cyber - attacks associated with cloud - based solutions are projected to impede the Middle East public cloud market growth. A few of the cloud - based security services available to handle information security and data privac y challenges include authorization administration, access control, data encryption and integration, and communication security, among others. Due to the increased client potential and escalating digital transformation initiatives, major cloud vendors are o pening data centers and commercial operations in this country to address the restraints in the Middle East public cloud market. Impact of COVID - 19 on the Middle East Public Cloud Market Prior to the advent of COVID - 19, the Middle East public cloud market was witnessing tremendous growth and acceptance of data center services. The region was starting from a low base and received many small investments and power capacities in the beginning of the pandemic. As a result of the pandemic, it is believed the IT market will grow faster than predicted given the pressing needs to bolster IT performance, flexibility, and security across the Gulf region. As businesses in the Middle East embrace remote working, the onset of the coronavirus pandemic has contributed to a n acceleration of cloud adoption. The COVID - 19 pandemic and its economic consequences have expedited digital transformation in the region, resulting in an extraordinary demand for contactless services, cloud solutions, and collaborative apps. The epidemic spurred a significant shift toward remote work, boosting the use of digital communications technologies and emphasizing the critical role that cloud technology can play in business continuity. Spending on digital transformation (DX) is expected to accelera te following the pandemic. The coronavirus pandemic has prompted businesses to raise their spending. With most workplaces closed, many businesses realized that the only option to keep people productive while working from home was to shift to cloud - based se rvices. Many workers will continue to raise their overall use of cloud services for the near future. Some of them had raised their usage of cloud services at the beginning of the pandemic but had subsequently leveled out as the weeks passed Middle East Pub lic Cloud Market - By Computing Based on category, the market is bifurcated into cloud billing, cloud communication platforms, cloud access security, cloud high - performance computing, and cloud infrastructure. The cloud infrastructure segment accounted for the largest market share in 2020. The cloud high - performance computing segment was the second - largest market in 2020. Cloud Infrastructure is leading the market due to cloud providers' focus on building up appropriate hardware to address the needs of clien ts and organizations. Over the projected period, Middle East public cloud market is expected to remain sturdy: Poised to reach USD 9,965.0 Million by 2027 virtualization of servers and other hardware components, as well as the resulting reduction in operational costs, may boost segment expansion. Middle East Public Cloud Market - By Service Based on services, t he Middle East public cloud market is categorized into three segments: SaaS (Software as a Service), PaaS (Platform as a Service), and IaaS (Infrastructure as a Service). Among these, the SaaS segment is likely to dominate and carve out a large portion of the Middle East public cloud market. Furthermore, it is expected to register a strong CAGR during the forecast period. Rising government initiatives and digital transformation in the Middle Eastern countries, such as the United Arab Emirates, Saudi Arabia, and Kuwait, is one of the primary drivers driving the Middle East SaaS industry demand over the projection period, thereby positively contributing to the Middle East public cloud market. Middle East Public Cloud Market - By Countries Based on country, the Middle East public cloud market has been segmented into Cyprus, Syria, Israel, Iraq, Iran, Jordan, Egypt, Libya, Saudi Arabia, Kuwait, Yemen, Oman, Bahrain, Qatar, United Arab Emirates, an d the rest of Middle East. Among these, Saudi Arabia holds the largest share and is expected to grow at a faster rate over the forecast period. As the country's digitization progresses, the government's priority has shifted to establishing cloud services. As a result, foreign investment, particularly in the technology sector, has been encouraged under Saudi Vision 2030. Furthermore, the establishment of a cloud - first policy has accelerated the digital transformation by encouraging the adoption of cutting - ed ge technologies such as AI and 4th Industrial Revolution technologies, among others. Middle East Public Cloud Market Competitive Landscape The Middle East public cloud market is highly fragmented with many key players holding a good stake in the market. The key players in the Middle East public cloud market are AWS Inc., IBM Corporation, Microsoft Corporation, Google LLC, VMWare Inc., Oracle, Cisco Systems Inc., Salesforce.com, Inc., Fujitsu Limited, CoreSite Realty Corporation, Hewlett Packard Enterprise Company, Citrix Systems, Inc., Cloudflare, Inc., Rackspace Technology, Inc., Equinix Inc., and other prominent players. These companies are operating in the Middle East Public Cloud market and are competing intensively against each other on the basis of b est cloud security, easier migration services, scalability, and accessibility of data centers across the region. Companies are also looking forward to mergers and acquisitions for cutting the competition and increasing their market share in the Middle East Public Cloud market. Middle East Public Cloud Market Recent Developments · In May 2021, Arada, the UAEâs fastest - growing property developer partnered with Microsoft to leverage Microsoft Cloud to accelerate its digital transformation and enhance e xperiences for its customers and business managers. · In April 2021, Abu Dhabi Islamic Bank (ADIB) announced its collaboration with IBM to accelerate its transition to become a digitally - led Islamic bank, by using IBM Hybrid cloud solutions based o n Red Hat OpenShift. This Middle East public cloud market is expected to remain sturdy: Poised to reach USD 9,965.0 Million by 2027 paradigm shift will enhance the bankâs efficiency to deliver operational and financial benefits. Scope of Report Attribute Details Years considered Historical data - 2017 - 2020 Base Year - 2020 Forecast - 2021 - 2027 Facts covered Revenue in USD Million Market coverage Cyprus, Syria, Israel, Iraq, Iran, Jordan, Egypt, Libya, Saudi Arabia, Kuwait, Yemen, Oman, Bahrain, Qatar, United Arab Emirates, and the rest of the Middle East Market Segmentation By Computing, By Service, By Organization Size, By Industry, By Countries Key Players AWS Inc., IBM Corporation, Microsoft Corporation, Google LLC, VMWare Inc., Oracle, Cisco Systems Inc., Salesforce.com, Inc., Fujitsu Limited, CoreSite Realty Corporation, Hewlett Packard Enterprise Company, Citrix Systems, Inc., Cloudflare, Inc., Rackspace Technology, Inc., Equinix Inc., and other prominent players By Computing Ø Cloud Billing Ø Cloud Communication Platform Ø Cloud Access Security Ø Cloud High - Performance Computing Ø Cloud Infrastructure By Service Ø SaaS Ø PaaS Ø IaaS By Organization Size Ø Small & Medium Enterprise Ø Large Enterprise Middle East public cloud market is expected to remain sturdy: Poised to reach USD 9,965.0 Million by 2027 By Industry Ø Manufacturing Ø BFSI Ø Healthcare Ø Retail Ø Government Ø Aerospace & Defence Ø IT & Telecommunication Ø Others By Countries Ø Bahrain Ø Cyprus Ø Egypt Ø Iraq Ø Iran Ø Israel Ø Jordan Ø Kuwait Ø Libya Ø Oman Ø Qatar Ø Saudi Arabia Ø Syria Ø UAE Ø Yemen Others Middle East public cloud market is expected to remain sturdy: Poised to reach USD 9,965.0 Million by 2027 About us Blueweave Consulting offers a one - stop solution for your market intelligence needs for any service or product. 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