Mea Cloud Computing Market Overview
Mea Cloud Computing Market Size was estimated at 7.65 (USD Billion) in 2022.The MEA cloud Computing Market Industry is expected to grow from 9.66(USD Billion) in 2023 to 78.8 (USD Billion) by 2032. The Mea Cloud Computing Market CAGR (growth rate) is expected to be around 26.27% during the forecast period (2024 - 2032).
Key Mea Cloud Computing Market Trends Highlighted
The MEA cloud computing market is experiencing significant growth driven by the increasing adoption of cloud-based services by businesses and governments across the region. Digital transformation initiatives and need for efficient, and cost-effective IT infrastructure are key market drivers. Emerging technologies, such as artificial intelligence (AI), machine learning (ML) and the Internet of Things (IoT) are also driving demand for cloud computing solutions. Opportunities for growth in MEA cloud computing market lie in the untapped potential of cloud adoption in various sectors, including healthcare, education and manufacturing. A rise of cloud-native applications and the increasing availability of reliable and affordable connectivity infrastructure are further fueling market growth.
Trends in the MEA cloud computing market include the adoption of hybrid and multi-cloud strategies by organizations, empowering them to manage workloads across multiple cloud platforms. The growing adoption of cloud security solutions is also a notable trend as businesses prioritize data protection and compliance. Additionally, the emergence of cloud-based managed services is gaining traction, offering organizations flexibility and cost optimization.
Figure 1: Mea Cloud Computing Market, 2018 - 2032 (USD Billion)
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Mea Cloud Computing Market Drivers
Growing Demand for Cloud-Based Solutions
The rapidly increasing adoption of cloud-based services such as Infrastructure-as-a-Service, Platform-as-a-Service, and Software-as-a-Service is one of the key drivers of the MEA cloud Computing Market Industry. This is primarily due to the fact that companies are increasingly taking advantage of cloud computing, which improves the cost-effectiveness, scalability, and flexibility of their business by migrating their IT infrastructure and IT applications supported by the cloud.
This trend is expected to continue in the future as the number of businesses that go cloud will grow, making companies more efficient and competitive. In the coming years, cloud computing in the MEA region will reach substantial market growth despite the current year, when cloud activity was in the "experimental" zone. Growth of the market will be facilitated by the increase in the adoption of cloud-based solutions by the commercial and public sectors.
Despite the fact that the MEA region's market share is only about 1.5%, the market value based on 2023 is USD 9.66 billion and, according to the expansion scenario, will grow by at a CAGR of 26.27% to become USD 78.8 billion by 2032. Currently, there are a set of factors that drive the growth of cloud computing in the MEA region. They include the increase in the number of cloud-based solutions adopted by the commercial and public sectors, insufficiency of the IT infrastructure quality, the need to reach reliable data center services, and the growing amount of data that is created and analyzed.
In addition to those factors, the growth is also influenced by the increasing popularity of smartphones and other mobile devices. Another factor for the market's growth is the constantly increasing number of companies in the region starting to drive their businesses in the cloud. The MEA region is home to one of the youngest populations on the globe and is characterized by a growing economy. This, in turn, nurtures the accelerated dissemination of cloud-based solutions. Moreover, in the coming years, the noticeably large market growth will be triggered by the considerable amount of government investments in cloud computing.
Government Initiatives and Investment
Another driver of the Mea Cloud Computing Market Industry that will positively affect the growth of the latter is a collaboration between different governments. For example, the Saudi Arabian government is currently working on several initiatives to promote the adoption of this technology. The government has already created a cloud computing center and announced the cloud computing strategy. In addition to that, the government has promised to provide financial rewards to companies that implement these solutions.
Expansion of Data Centers and Connectivity
Expansion of data centers and connectivity In addition to the factors described above, the expansion of data centers and the increase in connectivity are also driving the growth of the Mea Cloud Computing Market Industry. The increase in the number of data centers allows companies to choose from a greater number of deployments for their cloud applications and data. Furthermore, the increase of fiber optics network expansion is also increasing connectivity and reducing latency, making cloud computing more lucrative for businesses.
Mea Cloud Computing Market Segment Insights
Mea Cloud Computing Market Service Model Insights
The growth of this segment can be attributed to the increasing adoption of SaaS solutions by businesses of all sizes. SaaS solutions provide businesses with a cost-effective and flexible way to access software applications without having to invest in hardware or software licenses. The PaaS segment is expected to grow at a CAGR of 25.8% during the forecast period. The growth of this segment can be attributed to the increasing adoption of PaaS solutions by businesses looking to develop and deploy applications quickly and easily. PaaS solutions provide businesses with a platform on which they can develop, test, and deploy applications without having to worry about the underlying Infrastructure.
The IaaS segment is expected to grow at a CAGR of 24.9% during the forecast period. The growth of this segment can be attributed to the increasing adoption of IaaS solutions by businesses looking to reduce their IT costs and improve their agility. IaaS solutions provide businesses with access to computing resources, storage, and networking on a pay-as-you-go basis. The FaaS segment is expected to grow at a CAGR of 23.6% during the forecast period. The growth of this segment can be attributed to the increasing adoption of FaaS solutions by businesses looking to develop and deploy applications quickly and easily without having to manage the underlying Infrastructure.FaaS solutions provide businesses with the ability to develop and deploy functions without having to worry about the underlying Infrastructure.
Overall, the Mea Cloud Computing Market is expected to grow at a CAGR of 26.27% during the forecast period. The growth of the market can be attributed to the increasing adoption of cloud computing solutions by businesses of all sizes. Cloud computing solutions provide businesses with a cost-effective and flexible way to access computing resources, storage, and networking.
Figure 2: Mea Cloud Computing Market, By Service Model, 2023 & 2032
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Mea Cloud Computing Market Deployment Model Insights
The Mea Cloud Computing Market is segmented based on deployment model into public cloud, private cloud, and hybrid cloud. Among these segments, the public cloud segment is expected to hold the largest market share during the forecast period. The growth of the public cloud segment can be attributed to the increasing adoption of cloud-based services by businesses of all sizes. Public cloud services offer a number of benefits, such as scalability, flexibility, and cost-effectiveness. The private cloud segment is expected to grow at a faster rate than the public cloud segment during the forecast period.
The growth of the private cloud segment can be attributed to the increasing adoption of cloud-based services by large enterprises. Private cloud services offer a number of benefits, such as security, control, and customization. The hybrid cloud segment is expected to grow at a moderate rate during the forecast period. The growth of the hybrid cloud segment can be attributed to the increasing adoption of cloud-based services by businesses that require a combination of public and private cloud services.
Mea Cloud Computing Market Organization Size Insights
The Mea Cloud Computing Market segmentation by Organization Size includes Small and Medium Enterprises (SMEs) and Large Enterprises. SMEs are expected to hold a significant market share due to the increasing adoption of cloud computing solutions to enhance operational efficiency and reduce costs. Large Enterprises are also expected to contribute significantly to the market growth, driven by the need for advanced cloud infrastructure and data analytics capabilities to support their complex business operations. The growing demand for cloud-based services, such as Infrastructure-as-a-Service (IaaS), Platform-as-a-Service (PaaS) and Software-as-a-Service (SaaS), is expected to fuel the growth of the MEA cloud Computing Market for both SMEs and Large Enterprises.
Mea Cloud Computing Market Industry Vertical Insights
The Industry Vertical segment is a crucial aspect of the Mea Cloud Computing Market segmentation. In 2023, the Healthcare vertical held a significant market share, driven by the increasing adoption of cloud-based healthcare solutions for data management, patient care, and research. The Financial Services vertical is expected to witness substantial growth in the coming years due to the rising need for secure and efficient cloud platforms for financial transactions and risk management. The Retail vertical is also projected to contribute significantly to the market growth as retailers leverage cloud computing for e-commerce, inventory management, and customer relationship management.
The Manufacturing vertical is anticipated to gain traction as cloud-based solutions enhance production processes, supply chain management, and predictive maintenance. Additionally, the IT and Telecom vertical is expected to play a vital role in the market, as cloud computing facilitates the delivery of advanced communication services, network management, and data analytics.
Mea Cloud Computing Market Regional Insights
A regional analysis of the Mea Cloud Computing Market reveals distinct growth patterns and market dynamics across various geographic regions. North America, with its established cloud infrastructure and high adoption rates, holds a significant market share. Europe follows closely with a strong presence of cloud service providers and a growing demand for cloud-based solutions. The APAC region is experiencing rapid market growth driven by the increasing adoption of cloud computing in emerging economies. South America, while still in its early stages of cloud adoption, presents growth potential as businesses and governments seek to modernize their IT infrastructure.
The MEA region is expected to witness steady growth in the coming years, driven by government initiatives and the increasing demand for cloud-based services in key sectors like healthcare and finance.
Figure 3: Mea Cloud Computing Market, By Regional, 2023 & 2032
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Mea Cloud Computing Market Key Players And Competitive Insights:
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Key Companies in the Mea Cloud Computing Market Include
Mea Cloud Computing Market Industry Developments
The MEA cloud computing market is projected to grow from USD 9.66 billion in 2024 to USD 78.8 billion by 2032, exhibiting a CAGR of 26.27% during the forecast period. The market growth is attributed to the increasing adoption of cloud-based services by enterprises, government organizations, and individuals. The region's governments are actively promoting cloud adoption through initiatives such as Saudi Arabia's Vision 2030 and the UAE's Smart Dubai 2021 strategy.
Moreover, the growing number of startups and SMEs in the MEA region is driving the demand for cloud-based solutions. Recent news developments include the launch of Microsoft Azure's first data center region in the UAE, expanding its cloud footprint in the region. Additionally, Amazon Web Services (AWS) has announced plans to invest USD 5 billion in the UAE to establish a new cloud region. These developments indicate the increasing importance of the MEA region in the cloud computing market.
Mea Cloud Computing Market Segmentation Insights
Mea Cloud Computing Market Service Model Outlook
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Software as a Service (SaaS)
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Platform as a Service (PaaS)
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Infrastructure as a Service (IaaS)
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Function as a Service (FaaS)
Mea Cloud Computing Market Deployment Model Outlook
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Public Cloud
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Private Cloud
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Hybrid Cloud
Mea Cloud Computing Market Organization Size Outlook
Mea Cloud Computing Market Industry Vertical Outlook
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Healthcare
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Financial Services
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Retail
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Manufacturing
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IT and Telecom
Mea Cloud Computing Market Regional Outlook
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North America
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Europe
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South America
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Asia Pacific
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Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
7.65(USD Billion) |
| Market Size 2023 |
9.66(USD Billion) |
| Market Size 2032 |
78.8(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
26.27% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Alibaba Cloud, Adobe Creative Cloud, AWS, IBM Cloud, Citrix, VMware, Dropbox, Microsoft Azure, SAP HANA Cloud Platform, Salesforce, ServiceNow, Oracle Cloud Infrastructure, Workday, Box, Google Cloud Platform |
| Segments Covered |
Service Model, Deployment Model, Organization Size, Industry Vertical, Regional |
| Key Market Opportunities |
Rapid Digital TransformationGovernment Cloud InitiativesGrowing Cybersecurity ConcernsAdoption of HybridMultiCloud SolutionsExpansion into Underserved Regions |
| Key Market Dynamics |
Growing demand for cloud-based solutionsIncreasing adoption by businesses and governmentsRising need for data storage and analyticsGovernment initiatives and regulationsCompetition from cloud providers |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The MEA Cloud Computing Market size is expected to reach USD 9.66 billion by 2023, exhibiting a CAGR of 26.27% during the forecast period (2024-2032). The market growth is attributed to the increasing adoption of cloud-based services, growing demand for data storage and analytics, and government initiatives to promote cloud adoption.
The key regions in the MEA Cloud Computing Market are the Middle East and Africa. The Middle East region is expected to hold a significant market share due to the presence of major oil and gas companies and government initiatives to develop smart cities. The African region is expected to witness significant growth due to the increasing adoption of cloud-based services by businesses and governments.
The major applications of Cloud Computing in the MEA region include Infrastructure as a Service (IaaS), Platform as a Service (PaaS), and Software as a Service (SaaS). IaaS is expected to hold the largest market share due to the high demand for cloud infrastructure services from businesses and governments. PaaS is expected to witness significant growth due to the increasing adoption of cloud-based development platforms. SaaS is expected to gain traction due to the growing popularity of cloud-based applications
The key competitors in the MEA Cloud Computing Market include Amazon Web Services (AWS), Microsoft Azure, Google Cloud Platform (GCP), Alibaba Cloud, and IBM Cloud. These companies offer a wide range of cloud-based services and solutions to businesses and governments in the region.
The MEA Cloud Computing Market faces several challenges, including a lack of awareness about cloud computing benefits, security concerns, and limited Infrastructure in some regions. However, government initiatives to promote cloud adoption and the growing demand for cloud-based services are expected to overcome these challenges and drive market growth.
The MEA Cloud Computing Market offers significant growth opportunities due to the increasing adoption of cloud-based services by businesses and governments, the growing demand for data storage and analytics, and government initiatives to promote cloud adoption. The market is also expected to benefit from the growing popularity of cloud-based applications and the increasing adoption of cloud computing by small and medium-sized businesses.
The MEA Cloud Computing Market is expected to witness significant growth in the coming years due to the increasing adoption of cloud-based services, the growing demand for data storage and analytics, and government initiatives to promote cloud adoption. The market is expected to reach USD 78.8 billion by 2032, exhibiting a CAGR of 26.27% during the forecast period (2024-2032).
The key trends in the MEA Cloud Computing Market include the increasing adoption of hybrid cloud models, the growing popularity of serverless computing, and the increasing demand for cloud-based security solutions. These trends are expected to drive market growth in the coming years.
The growth of the MEA Cloud Computing Market is driven by several factors, including the increasing adoption of cloud-based services by businesses and governments, the growing demand for data storage and analytics, and government initiatives to promote cloud adoption. The market is also expected to benefit from the growing popularity of cloud-based applications and the increasing adoption of cloud computing by small and medium-sized businesses.
The MEA Cloud Computing Market faces several challenges, including a lack of awareness about cloud computing benefits, security concerns, and limited Infrastructure in some regions. However, government initiatives to promote cloud adoption and the growing demand for cloud-based services are expected to overcome these challenges and drive market growth.
