Middle East Cloud Computing Market by Service Model (Infrastructure as a Service, Platform as a Service, and Software as a Service), By Deployment Model, By Organisation Size and By Industry Vertical and By Countries – Opportunities and Forecast, 2020-2027
Cloud computing is the on-demand availability of computer system resources, especially data storage and computing power, without the direct active management by the user. Cloud computing has significantly shifted the way businesses think about IT resources. It has eliminated the capital expenses of buying hardware and software and setting up and running on-site data centers, including the rack of servers, the round-the-clock electricity for power and cooling.
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The Middle East Cloud Computing Market is predicted to witness strong demand during the forecast period. This is mainly due to the increasing adoption of cloud technology, followed by the continuous improvement in technologies, particularly in UAE, Saudi Arabia, and Egypt. In addition to this, the outbreak of the COVID-19 has surged the demand for cloud computing in healthcare and various other sectors. Numerous large organizations are emphasizing on allowing work from home to safeguard their employees from catching coronavirus. This factor has accelerated the demand for Software-as-a-Service (SaaS) based solutions and tools. For example, the Microsoft Team platform experienced an increase of 44 million due to the increasing demand for collaboration solutions. Additionally, the surging demand for streaming platforms, such as Netflix, Amazon, Disney +, and various other emerging platforms, is attracting a large number of customers towards the market.
The government of the Middle East countries are focusing on supporting the adoption of advanced technologies such as IoT, cloud computing, and AI. Various government initiatives, such as Smart city Neom, Saudi Vision 2030, and other projects in the Middle East region, is increasing the number of connected devices, thus, energizing the market growth. Thus, the increasing focus of the government of various major economies is further opening new doors for the growth of the market. The rising requirement to Control And Decrease Capital Expenditure (CAPEX) and Operational Expenditure (OPEX) is propelling the growth of advanced technologies such as Artificial Intelligence (AI), and Machine Learning (ML), thereby surging the adoption of cloud computing. However, on the other hand, the increasing concern related to data security, the rising risk of cyber-attack, and the lack of skilled workforce is the major factor that is likely to hamper the market growth.
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On the basis of organisation size, the Small and Medium-sized Enterprises segment is anticipated to dominate the market over the forecast period. The rising adoption of cloud technologies among small and medium-sized enterprises to decrease operational cost & time is a major factor that is increasing the growth of the segment. Data security and recovery is an important concern of every company. The large-scale enterprises need secure and reliable services to deploy their data. Hence, several leading players are moving towards the adoption of cloud solutions to safeguard their data and use big data analytics tools in order to provide the best services to their consumers.
Based on the industry vertical, the Banking, Financial Services, and Insurance (BFSI) segment is projected to witness a faster CAGR during the forecast period. This is mainly due to the strong demand for cloud computing to offer improved customer satisfaction and decrease operational costs. Furthermore, the increasing adoption of blockchain in the BFSI sector is further boosting segment growth. With the introduction of various initiatives such as the Fifth Generation – 5G, Smart Dubai, and other projects, various global banks and financial institutions are increasingly opting for cloud-based software and solution to cater to the customer expectations and sustain in the highly competitive market.
On the basis of service model, the Software as a Service (SaaS) segment is projected to dominate the market during the forecast period owing to the accelerating demand for Software as a Service (SaaS), particularly among the Small and Medium Enterprises (SMEs). Nowadays, SMEs are moving towards the adoption of SaaS products in order to avoid large-up front licensing fees and huge capital costs. The SaaS offers beneficial cost saving owing to its ability to decrease license cost of hardware and software. All these factors are further attracting a new customer base into the market.
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Based on the region, Saudi Arabia region is predicted to dominate the market during the forecast period owing to the increasing number of projects such as Saudi Vision 2030 and various other projects in the country. Additionally, the growing digitalization and the increasing volume of data generated through smart devices including smart phones and tablets is further boosting the market growth in the coming years.
Key Developments:
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- In 2018, SAP announced to launch its first Public Cloud Data Center in Saudi Arabia, which is a part of the Saudi Vision 2030. Through this SAP Public Cloud Data Center, organizations can adopt for OPEX-friendly and scalable cloud solutions for around 25 industries and 12 lines of business.
The Middle East Cloud Computing Market has been segmented based on Service Model, Organisation Size, and Industry Vertical. Based on Service Model, the market is segmented into Infrastructure as a Service, Platform as a Service, and Software as a Service. Based on organisation size, the market is segmented into Small and Medium-Sized Enterprises, and Large Enterprises. Based on industry vertical, the market is segmented into Banking, Financial Services and Insurance, IT and Telecommunications, Government and Public Sector, Retail and Consumer Goods, Manufacturing, Energy and Utilities, Media and Entertainment¸ Healthcare and Life Sciences, and Others.
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Key questions answered in this research report:
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- At what pace is Middle East Cloud Computing market growing? What will be the growth trend in the future?
- What are the key drivers and restraints in Middle East Cloud Computing market? What will be the impact of drivers and restraints in the future?
- Which organization size generated maximum revenues in 2019 and identify the most promising organization size during the forecast period?
- What are the various industry verticals of Middle East Cloud Computing market and how they are poised to grow?
- What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?
Report Coverage |
Details |
Market Base Year |
2019 |
Market Forecast Period |
2020-2027 |
Market Revenues Currency |
USD Million |
Base Year & Forecast Units |
Revenues (USD Million) |
Market Segment | By Service Model, By Deployment Model, By Organisation Size, By Industry Vertical, By Countries |
Regional Coverage | Middle East |
Companies Profiled | Profiles of Top 10 Major Companies Operating in “Middle East Cloud Computing Market” |
25% Free Customization Available | We will customize this report up to 25% as a free customization to address our client’s specific requirements |
Market Segmentation
Middle East Cloud Computing Market by Service Model
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- Infrastructure as a Service
- Platform as a Service
- Software as a Service
Middle East Cloud Computing Market by Deployment Model
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- Public Cloud
- Private Cloud
- Hybrid Cloud
Middle East Cloud Computing Market by Organisation Size
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- Small and Medium-Sized Enterprises
- Large Enterprises
Middle East Cloud Computing Market by Industry Vertical
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- Banking, Financial Services and Insurance
- IT and Telecommunications
- Government and Public Sector
- Retail and Consumer Goods
- Manufacturing
- Energy and Utilities
- Media and Entertainment
- Healthcare and Life Sciences
- Others
Middle East Cloud Computing Market by Countries
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- UAE Cloud Computing Market All-Up (Option 1: Free 25% Customization)
- Saudi Arabia Cloud Computing Market All-Up (Option 2: Free 25% Customization)
- Egypt Cloud Computing Market All-Up (Option 3: Free 25% Customization)
- Rest of Middle East Cloud Computing Market All-Up (Option 4: Free 25% Customization)
- Published Date: Jan - 2021
- Report Format: Excel/PPT
- Report Code: UP547A-00-0620
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The report is used by the purchaser (One Individual) only
Multi-User License:Report is shared with maximum 5 users (employees) including the purchaser of the purchasing corporation only
Corporate License:
Report is shared with unlimited user (employees) of the purchasing corporation only
Middle East Cloud Computing Market by Service Model (Infrastructure as a Service, Platform as a Service, and Software as a Service), By Deployment Model, By Organisation Size and By Industry Vertical and By Countries – Opportunities and Forecast, 2020-2027
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