MEA Cloud Computing Market worth $49.5 billion by 2028 - Exclusive Report by MarketsandMarkets™

CHICAGO, Sept. 21, 2023 /PRNewswire/ -- Growth, innovation, and growing integration of cloud services into numerous industries and corporate processes will characterise the MEA Cloud Computing Market's future. In the region, cloud computing will continue to be a crucial enabler of digital transformation and agility.

The MEA Cloud Computing Market size 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, according to a new report by MarketsandMarkets™.

Browse in-depth TOC on "MEA Cloud Computing Market"

300 - Tables
47 - Figures
289 - Pages

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Scope of the Report

By service model ,SaaS segment to hold the largest market size during the forecast period

Software as a Service (SaaS) in cloud computing refers to a delivery model where software applications are hosted and provided over the internet by third-party cloud service providers. Users access these applications through web browsers, eliminating the need for local installations and maintenance. SaaS offers scalability, flexibility, and cost-effectiveness, as users can subscribe to services on a pay-as-you-go basis, receive regular updates, and benefit from centralized data storage and security measures, making it a popular choice for businesses seeking to streamline IT operations and enhance accessibility while minimizing infrastructure investments.

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By PaaS ,data management  segment to hold the largest market size during the forecast period

Data management in Platform as a Service (PaaS) within cloud computing refers to the comprehensive suite of tools, services, and infrastructure provided by cloud providers to efficiently store, process, and analyze data. PaaS offerings enable businesses to leverage scalable databases, data warehouses, and analytics platforms without the burden of managing underlying hardware and software infrastructure. This allows organizations to focus on developing and deploying applications, ensuring data security, and harnessing data-driven insights, ultimately streamlining their operations and enhancing decision-making capabilities in a cost-effective and agile manner.

By vertical, BFSI segment to hold the largest market size during the forecast period

The BFSI (Banking, Financial Services, and Insurance) sector has increasingly embraced cloud computing to revolutionize its operations. Leveraging the scalability, agility, and cost-efficiency of cloud services, BFSI organizations are able to enhance customer experiences, streamline data analytics for risk assessment and fraud detection, and ensure robust data security and compliance. Cloud solutions enable rapid deployment of new financial services, facilitate remote access to critical applications, and reduce infrastructure costs, ultimately enabling BFSI institutions to stay competitive in a dynamic and data-driven industry while adhering to stringent regulatory requirements.

Africa to hold the second largest market size during the forecast period

Africa is experiencing a burgeoning interest in cloud computing, marked by heightened investments and widespread adoption throughout the continent. This surge is driven by both businesses and governments eager to leverage the advantages of digital transformation, with cloud services serving as a pivotal tool in providing scalable, cost-efficient, and accessible computing resources. This section of the report segments the cloud applications industry in the Africa, based on countries such as South Africa, Egypt ,Nigeria, and other countries.

Top Key Companies in MEA Cloud Computing Market:

 The MEA Cloud Computing Market is dominated by companies such as Microsoft (US), AWS (US), IBM (US), Google (US), Alibaba Cloud (China), Oracle (US), SAP (Germany), Salesforce (US), Etisalat (UAE), eHosting DataFort (UAE), Injazat Data Systems (UAE), STC Cloud (Saudi Arabia), Insomea Computer Solutions (Tunisia), CloudBox Tech (SA), Ooredoo (Qatar), Gulf business Machines (UAE), Intertec Systems (UAE), Fujitsu (Japan),Huawei (China), Comprehensive Computing Innovations (Lebanon), Compro (Turkey), Teraco Data Environment (SA).

Recent Developments

• In May 2023, Microsoft announced a suite of new AI solutions and enhancements to Microsoft Cloud for Nonprofit. These advancements are specifically crafted to revolutionize the nonprofit industry, redefining how fundraisers engage with donors, manage campaigns, and optimize operations.
• In May 2023, SAP collaborated with IBM and announced that IBM Watson technology would be embedded into SAP solutions to offer new AI-driven insights and automation. It also helps to fuel innovation and create more efficient and effective user experiences across SAP solution portfolios.
• In September 2022,At Dreamforce, Salesforce introduced Salesforce Customer 360 to provide companies with powerful automation and intelligence technologies to drive efficient growth and deliver personalized customer experiences.
• In September 2022, IBM announced the general availability of IBM LinuxONE Bare Metal Servers. With this new solution, the LinuxONE platform may now be deployed in an off-premises Infrastructure as a Service (IaaS) model while enjoying all the advantages, including core consolidation, resultant software license savings, and decreased energy consumption to support sustainability goals.
• In September 2022, A new feature from Google Cloud allows users to significantly reduce the cold start time of Cloud Run and Cloud Functions. This is named startup CPU boost for Cloud Run and Cloud Functions 2nd gen.

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MEA Cloud Computing Market Advantages:

• Cloud computing eliminates the need for sizable upfront expenditures in IT infrastructure and enables businesses to pay for services on an as-needed, scalable basis, saving money.
• Cloud services provide quick scaling up or down to meet shifting business needs, ensuring that organisations always have the resources they require.
• Based on unique requirements, cloud computing gives users the freedom to select from a number of services, such as Infrastructure as a Service (IaaS), Platform as a Service (PaaS), and Software as a Service (SaaS).
• Cloud solutions speed up application and service deployment, lowering the time it takes for new projects and products to get off the ground.
• The availability of cloud services from any location with an internet connection encourages remote work and company continuity.
• Leading cloud service providers use redundant data centres and service-level agreements (SLAs) to deliver high levels of reliability and availability.
• In order to improve overall security posture, cloud providers heavily invest in security measures such data encryption, access controls, and threat detection.
• Data and applications can be cost-effectively protected from unexpected disruptions with the help of cloud-based backup and disaster recovery solutions.

Report Objectives

• To describe and forecast the MEA Cloud Computing Market based on offering, deployment mode , verticals, and regions
• To forecast the market size of regional segments: Middle East (United Arab Emirates, Saudi Arabia, Qatar, Turkey, Israel,and Rest of Middle East) and Africa (South Africa, Egypt, Nigeria and Rest of Africa)
• To strategically analyze the market's subsegments with respect to individual growth trends, prospects, and contributions to the total market
• To provide detailed information related to major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the market
• To analyze opportunities in the market for stakeholders and provide details of the competitive landscape for major players
• To comprehensively analyze the core competencies of key players

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