Dublin, Nov. 15, 2024 (GLOBE NEWSWIRE) -- The "Saudi Arabia Cloud Infrastructure Services Market, By Region, Competition, Forecast and Opportunities, 2019-2029F" report has been added to ResearchAndMarkets.com's offering.
The Saudi Arabia Cloud Infrastructure Services Market was valued at USD 3.46 Billion in 2023, and is expected to reach USD 8.97 Billion by 2029, rising at a CAGR of 17.03%.
Saudi Arabia Cloud Infrastructure Services market has seen significant growth. Saudi Arabia's Cloud Infrastructure Services (CIS) market is on the rise, driven by strategic government initiatives, digital transformation efforts, and substantial investments from global tech giants. Central to this growth is the Saudi Vision 2030 initiative, which aims to diversify the economy and foster digital transformation across sectors. The government has introduced supportive policies and regulatory frameworks, such as cloud-first policies for government entities and the establishment of the National Cybersecurity Authority, creating a secure environment conducive to cloud infrastructure development.
Businesses in Saudi Arabia are increasingly adopting cloud services to enhance operational efficiency, scalability, and agility, leveraging advanced technologies like AI, machine learning, and big data analytics without significant upfront investments. The country boasts one of the highest internet penetration rates in the region, with widespread mobile device usage fueling demand for cloud-based applications and services.
Major global cloud providers, including AWS, Google, and Huawei, are investing heavily in the region by establishing data centers in Saudi Arabia, enhancing local cloud infrastructure, and bringing cutting-edge technology and expertise to the market. Additionally, there is a strong focus on developing local talent in cloud computing and related technologies, with educational institutions and training programs equipping the workforce with the necessary skills to drive cloud adoption. These factors collectively underpin the robust growth of the CIS market in Saudi Arabia, positioning it as a key player in the Kingdom's economic diversification and technological advancement.
Increased Adoption of Hybrid Cloud Solutions
A significant trend in the Saudi Arabia Cloud Infrastructure Services market is the increased adoption of hybrid cloud solutions. Hybrid cloud combines private and public cloud environments, allowing businesses to leverage the benefits of both. This trend is driven by the need for greater flexibility, scalability, and control over sensitive data. Many organizations in Saudi Arabia, especially those in highly regulated industries like finance and healthcare, prefer hybrid cloud to balance their security and compliance requirements with the agility and cost-efficiency of public cloud services.
Hybrid cloud solutions enable businesses to optimize their IT resources, moving workloads between private and public clouds as needed to meet changing demands. This approach not only enhances operational efficiency but also provides a more robust disaster recovery strategy. As businesses continue to modernize their IT infrastructure, the hybrid cloud model offers a strategic advantage by facilitating a smoother transition to cloud computing while maintaining control over critical assets. Additionally, advancements in hybrid cloud technologies and improved interoperability between different cloud platforms are making it easier for organizations to implement and manage hybrid environments, further driving this trend in the Saudi market.
Focus on Artificial Intelligence and Machine Learning
Another notable trend in the Saudi Arabia Cloud Infrastructure Services market is the growing focus on integrating artificial intelligence (AI) and machine learning (ML) capabilities. Businesses are increasingly leveraging AI and ML to gain actionable insights from their data, automate processes, and enhance decision-making. Cloud infrastructure plays a crucial role in this trend by providing the computational power and scalability needed to run complex AI and ML algorithms efficiently.
Cloud service providers are investing in AI and ML platforms and tools to cater to the rising demand. These offerings enable businesses to develop, train, and deploy AI models without the need for significant upfront investments in hardware and software. In sectors such as finance, retail, and healthcare, AI and ML applications are driving innovation by enabling predictive analytics, personalized customer experiences, and improved operational efficiency.
Expansion of Edge Computing
The expansion of edge computing is another emerging trend in the Saudi Arabia Cloud Infrastructure Services market. Edge computing involves processing data closer to the source, rather than relying solely on centralized cloud data centers. This approach reduces latency, enhances real-time data processing capabilities, and improves overall network performance. As the adoption of Internet of Things (IoT) devices and applications continues to grow, the need for edge computing solutions becomes increasingly critical.
In Saudi Arabia, industries such as manufacturing, oil and gas, and smart cities are driving the demand for edge computing. These sectors require real-time data analytics and decision-making capabilities to optimize operations, ensure safety, and enhance efficiency. For instance, in the oil and gas industry, edge computing can enable predictive maintenance by analyzing equipment data on-site, thereby reducing downtime and operational costs. Similarly, smart city initiatives, which are a cornerstone of Vision 2030, rely on edge computing to manage vast amounts of data from various sensors and devices, ensuring timely responses to urban challenges.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 86 |
| Forecast Period | 2023 - 2029 |
| Estimated Market Value (USD) in 2023 | $3.46 Billion |
| Forecasted Market Value (USD) by 2029 | $8.97 Billion |
| Compound Annual Growth Rate | 17.0% |
| Regions Covered | Saudi Arabia |
Company Profiles: Detailed analysis of the major companies present in the Saudi Arabia Cloud Infrastructure Services Market
- Amazon.com, Inc
- Microsoft Corporation
- Alphabet Inc
- SAP SE
- Oracle Corporation
- International Business Machines Corporation
- Alibaba Group Holding Limited
- STC Group
- Huawei Technologies Co., Ltd.
- Broadcom, Inc
Saudi Arabia Cloud Infrastructure Services Market, By Service Type:
- Computing as a Service (IaaS)
- Storage as a Service (STaaS)
- Disaster Recovery and Backup as a Service (DRaaS)
- Networking as a Service (NaaS)
- Desktop as a Service (DaaS)
Saudi Arabia Cloud Infrastructure Services Market, By Deployment Model:
- Public Cloud
- Private Cloud
- Hybrid Cloud
Saudi Arabia Cloud Infrastructure Services Market, By Vertical:
- BFSI
- Government
- IT & Telecom
- Healthcare & Life Sciences
- Retail & Consumer Goods
- Manufacturing
- Energy & Utilities
- Others
Saudi Arabia Cloud Infrastructure Services Market, By Region:
- Riyadh
- Makkah
- Madinah
- Jeddah
- Tabuk
- Eastern Province
- Rest of Saudi Arabia
For more information about this report visit https://www.researchandmarkets.com/r/3ng2ug
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