Middle East and Africa Cloud Infrastructure Services Market Worth $4.72 billion by 2023
PUNE, India, August 3, 2018 /PRNewswire/ --
According to a new market research report "Middle East and Africa Cloud Infrastructure Services Market by Service Type (Storage as a Service, Compute as a Service, Disaster Recovery & Backup as a Service, Managed Hosting), Deployment Model, Organization Size, Vertical & Country - Forecast to 2023", published by MarketsandMarkets™, the MEA cloud infrastructure services market size is expected to grow from USD 2.80 billion in 2018 to USD 4.72 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 11.0% during the forecast period.
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The key factors driving the market include initiatives by governments and corporates to promote emerging technologies, such as cloud and analytics; an increasing use of cloud dependent technologies, such as Bring Your Own Device (BYOD) and Internet of Things (IoT); and business continuity requirements resulting in high demand for disaster recovery services.
Disaster recovery and backup as a service segment is expected to grow at highest rate during forecast period
Disaster recovery and backup as a service very critical for enterprises and consumers to protect its data to ensure business continuity at all times. The demand for this service is growing as it minimizes the operational and capital expenditure incurred. Moreover, it had been observed that the disaster recovery and backup as a service is being rapidly adopted by enterprises due to its pay-as-you-go pricing model. This pricing model reduces the total cost of the organization to a great extent, as the organization needs to pay only for what it used.
Public cloud deployment model is expected to hold largest market size in 2018
The public cloud-based deployment model is witnessing an increasing demand, due to its cost effectiveness and easy availability. The public cloud is based on the cloud computing model which shares resources (such as CPU, servers, and racks) among various businesses depending on its demand. Public cloud-based solutions require less physical setup, requires low maintenance, and provides 24/7 accessibility from anytime, anywhere. Due to various benefits of public cloud, such as scalability, reliability, flexibility, utility style costing, and location independence services, public cloud-based deployments are expected record a high growth rate, as compared with private or hybrid cloud deployments.
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Qatar is expected to grow at the highest rate during the forecast period
The growth of the cloud infrastructure services market in Qatar has started to gain momentum and is expected to grow at the highest growth rate over the next 5 years. Significant economic growth and the aspiring visions by the government of Qatar could help in driving the significant adoption of cloud infrastructure services in the country. Furthermore, to support this increasing adoption, major market players are also making investments in Qatar.
Major vendors providing cloud infrastructure services in the MEA include Microsoft (US), AWS (US), IBM (US), Oracle (US), Google (US), Alibaba (China), Fujitsu (Japan), Injazat Data Systems (UAE), eHosting DataFort(UAE), BIOS Middle East Group(UAE), Orixcom (UAE), STC Cloud (Saudi Arabia), Mobily (Saudi Arabia), Batelco (Bahrain), Emirates Integrated Telecommunications Company (UAE), Ooredoo (Qatar), and Cloud4C (India).
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