Dublin, Feb. 14, 2024 (GLOBE NEWSWIRE) -- The "MEA Cloud Computing Market by Offering (Service Model (laaS, PaaS, and SaaS)), Deployment Mode (Public Cloud, Private Cloud, and Hybrid Cloud), Vertical (BFSI, Energy and Utilities, and Manufacturing) and Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The MEA Cloud Computing Market is expected to grow at a Compound Annual Growth Rate (CAGR) of 18.6 % during the forecast period, to reach USD 49.5 billion by 2028 from USD 21.1 billion in 2023. Governments in the MEA region were promoting cloud adoption as part of their digital transformation agendas. They were often investing in cloud infrastructure and encouraging public and private sector organizations to embrace cloud technologies.
The report segments the MEA cloud computing market by offering (service model), deployment mode, vertical, and region. The MEA cloud computing market has been segmented into service model and service type. The service model segment is further segmented into IaaS, PaaS, and SaaS. By the deployment model, the MEA cloud computing market has been segmented into public cloud, private cloud and hybrid cloud. By verticals, the MEA cloud computing market is segmented into BFSI, energy and utilities, government and public sector, healthcare and life sciences, manufacturing, IT/ITeS, retail and consumer goods, telecommunications, media and entertainment, and other verticals. By region, the market has been segmented into Middle East and Africa.
By service model, IaaS segment to have the largest CAGR during the forecast period
Infrastructure as a Service (IaaS) in the Middle East and Africa (MEA) is a rapidly growing segment of cloud computing that offers a range of infrastructure resources over the internet. In MEA, like in other regions, IaaS is transforming the way businesses and organizations manage their IT infrastructure. IaaS is a cloud computing model that provides virtualized computing resources over the internet. These resources typically include virtual machines (VMs), storage, networking, and sometimes additional services like load balancers, firewalls, and databases.
By deployment mode, hybrid cloud segment to have the largest CAGR during the forecast period
Hybrid cloud adoption in the Middle East and Africa (MEA) region is witnessing significant growth, driven by a desire for flexible and scalable IT solutions. Organizations in MEA are increasingly leveraging a combination of on-premises infrastructure and public or private cloud services to optimize their workloads and data management. This approach allows them to maintain control over sensitive data while benefiting from the agility, cost-efficiency, and scalability offered by cloud computing.
By vertical, retail and consumer goods segment to have the largest CAGR during the forecast period
The retail and consumer goods industry in the Middle East and Africa (MEA) region has undergone a significant transformation with the adoption of cloud computing. Retailers and consumer goods companies in MEA are leveraging cloud technologies to enhance their operations, streamline supply chain management, improve customer engagement, and optimize inventory management. Cloud computing solutions enable these businesses to access scalable computing resources, analyze vast amounts of data for market insights, and deploy innovative e-commerce platforms, mobile apps, and digital marketing strategies.
Middle East to hold the largest market size during the forecast period
The Middle East's cloud computing market has experienced rapid growth in recent years, driven by increasing digitalization, a burgeoning startup ecosystem, and government initiatives promoting digital transformation. Major cloud providers have established a strong presence in the region, offering a wide array of services to meet the demands of enterprises, governments, and small businesses. This section of the report segments the cloud applications industry in the Middle East, based on countries such as Saudi Arabia, UAE, Qatar, Israel, Turkey and other countries (Oman, Kuwait, and Bahrain).
Market Dynamics
- Drivers
- Adoption of Cloud Computing Solutions Across Middle East and Africa
- Business Expansion by Market Leaders in Middle East and Africa to Cater to Untapped Clientele
- Growing Investments in Cutting-Edge Technologies and Government Initiatives Toward Digital Transformation
- Restraints
- Lack of Technical Expertise Among Enterprises in Technologically Developing Geographies
- Difficulty in Addressing Governance and Compliance Requirements
- Opportunities
- Increase in Adoption of Hybrid Cloud Services
- Rising Number of SMEs to Create Revenue Opportunities for Cloud Vendors
- Telecom Service Providers Leveraging Existing Infrastructure to Offer Cloud-based Services
- Incorporation of AI and ML in Cloud Computing Solutions
- Challenges
- Fear of Vendor Lock-In
- Rising Number of Cloud Cyberattacks and Security Breach Incidents
- Compatibility Complexities with Legacy Systems
Case Study Analysis
- Cloud Service Deployment
- Connectivity
- Cloud Migration
- Performance Enhancement with Cloud Platform
Technology Analysis
- Key Technologies
- AI & ML
- Edge Computing
- IoT
- Augmented Reality
- Adjacent Technologies
- Blockchain
- Big Data & Analytics
- DevOps
Key Attributes
| Report Attribute | Details |
| No. of Pages | 290 |
| Forecast Period | 2023-2028 |
| Estimated Market Value (USD) in 2023 | $21.1 Billion |
| Forecasted Market Value (USD) by 2028 | $49.5 Billion |
| Compound Annual Growth Rate | 18.6% |
| Regions Covered | Africa, Middle East |
Companies Profiled
- Alibaba Cloud
- AWS
- Cisco
- Cloud4Rain
- Cloudbox Tech
- Comprehensive Computing Innovations
- Compro
- Ehosting Datafort
- Etisalat
- Fujitsu
- Gulf Business Machines
- Huawei
- IBM
- Infosys
- Injazat Data Systems
- Insomea Computer Solutions
- Intertec Systems
- Liquid Intelligent Technologies
- Malomatia
- Microsoft
- Ooredoo
- Oracle
- Orixcom
- Salesforce
- SAP
- STC Cloud
- TCS
- Teraco Data Environments
- Zonke Tech
For more information about this report visit https://www.researchandmarkets.com/r/gnk7ji
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