The Public Cloud Market in the Middle East is growing and is anticipated to to grow at a CAGR of over 20.5% during the forecast period from 2022 to 2028 to reach around USD 10.71 million in 2028, according to the latest market report published by Credence Research, a market research and counseling firm. The market growth is growing as a result of the spread of technologies like Edge Computing, 5G, real-time analytics powered by AI, Machine Learning (ML), and the internet of things (IoT).
The Middle East’s public cloud industry has benefited from the region’s exponential growth in cloud computing investment. Businesses’ journey toward becoming completely digital enterprises is what motivates investments in cloud computing technology. Digital technologies, which are essential for enabling and serving as a platform for such technologies, have had a significant impact on the Middle Eastern Public Cloud industry.
Due to the Middle East’s shared economic objective of becoming more data and technology-centric, the utilization of the public cloud is important. The region now has a shared economic goal of becoming a data and technology-driven region, which must be worked toward.
The highly fragmented Middle East Public Cloud industry is dominated by several well-known companies. The Middle East Public Cloud providers compete with one another for customers based on the security, scalability, and ease of access provided by the Cloud to all of the region’s data centers. In order to lessen competition and increase their market share in the Middle Eastern Public Cloud industry, the companies also plan to invest in mergers.
Moreover, the Middle East’s shared economic goal of becoming more technologically and data-centric has encouraged the development of public clouds in the region.
Since Business Analytics and Artificial Intelligence are significant growth drivers for the Middle Eastern Public Cloud business, Middle Eastern SMEs have focused on deploying Cloud services that would enable them to fulfill these tasks more rapidly.
Companies who have embraced ML and Al have benefited from the fact that Public Cloud services already integrate these technologies, which has contributed to the expansion of the Public Cloud industry in the Middle East.
Businesses in the Middle East are embracing contemporary technology like artificial intelligence, 5G, and machine learning rapidly as part of their digital transformation strategy. Middle Eastern organizations are using these technologies more frequently to track data and do analytics.
Furthermore, the government’s expanding IT initiatives and investments are also predicted to fuel the Middle East Public Cloud market throughout the forecast period. These factors are anticipated to drive the market as enterprises become more aware of the benefits of the Cloud and its technologies and as demand for data protection and analytics increases.
Two more developing Cloud-based technologies, the Internet of Things and Bring Your Device, are projected to have a large impact on the market in the future.
The Middle East is the newfound love of the e-commerce giants like Alibaba, AWS and others. For they have concrete data to substantiate their confidence in the region. Hence, it is grabbing headlines for carving a space for itself in the realm of data centers and cloud computing.