The latest market report published by Credence Research, Inc. is “Middle East Public Cloud Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028”. The Middle East Public Cloud Market generated revenue of around USD 3.5 million in 2021 and is anticipated to grow a CAGR of over 20.5% during the forecast period from 2022 to 2028 to reach around USD 10.71 million in 2028.
Cloud computing uses the internet to transmit cloud-based resources such as databases, storage, servers, software, networking, and analytics. Cloud providers are businesses that offer cloud computing services. Services offered over a public network are referred to as public cloud services. It is a set of virtual resources automatically provided and distributed among numerous clients using a self-service interface based on hardware owned and managed by a third-party company. It is a straightforward method for scaling workloads with fluctuating demand. The exponential increase in IT investment for cloud computing is fueling the expansion of the Middle East public cloud industry. They would require a platform to demonstrate their digital business capabilities as the next-generation industrial solutions will be cloud-based. Moreover, the emergence of edge computing, the internet of things (IoT), real-time analytics enabled by AI, 5G, and machine learning (ML) is predicted to boost the value of computing technology among enterprises. However, the increasing number of clouds cyberattack and security breach incidents limits the market growth.
is bifurcated into Computing, Service, Organization Size, Industry, and Geography. Based on computing, the market is categorized into cloud billing, a cloud communication platform, cloud access security, high-performance computing, and cloud infrastructure. Based on the service, the market is divided into SaaS, PaaS, and IaaS. Based on organization size, the market is segmented into small & medium enterprises and large enterprises. Based on the industry, the market is categorized into manufacturing, BFSI, healthcare, retail, government, aerospace & defense, IT & telecommunication, and others.
In 2021, Saudi Arabia dominated the middle east public cloud market and accounted for a major market revenue share. The government's top objective is building cloud services as the nation's digitization process moves further. As a result, Saudi Vision 2030 has encouraged foreign investment, especially in the technology sector. In addition, implementing a cloud-first policy has sped up digital transformation by promoting the adoption of cutting-edge tools like AI and those from the 4th Industrial Revolution, among others.
There are several major challenges that the public cloud market faces:
· Security concerns: Many organizations are hesitant to move sensitive data and workloads to the cloud due to concerns about data security and privacy.
· Complexity: Managing a multi-cloud or hybrid cloud environment can be complex, as it requires organizations to integrate and manage multiple platforms and tools.
· Integration with on-premises systems: It can be challenging to integrate cloud-based systems with on-premises systems, which can limit the ability of organizations to fully leverage the benefits of the cloud.
· Cost: While the pay-as-you-go model of the cloud can be cost-effective in some cases, it can also result in unexpected or higher-than-expected costs for some organizations.
· Vendor lock-in: Depending on the services and infrastructure used, organizations may become reliant on a specific vendor, which can be a concern if that vendor raises prices or experiences service disruptions.
· Lack of skilled personnel: There is a shortage of skilled personnel with experience in cloud computing, which can make it difficult for organizations to find and hire the necessary staff to manage cloud deployments.
Why to Buy This Report-
· The report examines the middle east public cloud market by segment, current trends, drivers, restraints, opportunities, challenges, and market dynamics from 2016 to 2020, with 2021 as the base year and 2022-2028 as the projected period.
· The report provides competitive landscape information, such as how the market's key players operate at the regional and country levels.
· In-depth analysis of the middle east public cloud market segmentation by computing, service, organization size, and industry.
· The report includes detailed and reliable statistics on all factors, including CAGR, consumer purchasing trends, and supply and demand.
· The middle east public cloud market report includes regional and country-level market analysis, key market trends, major players analysis, market growth strategies, and key application areas.
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