A new analysis estimates that the Middle East Public Cloud market would produce USD 2,660 million in 2020. Moreover, it is expected that the market would grow at a CAGR of 20.7% between 2021 and 2027, reaching USD 9,965 million. The exponential rise in Cloud Computing investment in the Middle East has been beneficial for the area’s Public Cloud industry. The Middle East’s market for Public Clouds 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).
Technological Advancement in the Middle East Public Cloud Industry
Investments in Cloud Computing Technology are driven by businesses’ progress toward becoming fully digitalized corporations. Because they are crucial for enabling and acting as a platform for such technologies, digital technologies have had a substantial impact on the Public Cloud industry in the Middle East. The use of the Public Cloud is vital because of the Middle East’s common economic goal of becoming more data and technology-centric. The Middle East now has a shared economic goal of becoming a data and technology-driven region, which must be worked toward. Also, Middle Eastern SMEs have focused on implementing Cloud services that would enable them to complete tasks requiring Artificial Intelligence and Business Analytics more quickly, which are significant growth drivers for the region’s Public Cloud industry. The regional Public Cloud market has grown thanks to the incorporation of ML and AI into Public Cloud services, which has benefited enterprises. For data tracking and analytics, Middle Eastern companies frequently use these technologies. Cloud Computing, which provides the foundation and enables the rapid and on-demand handling of enormous volumes of data, is the sole technology that makes widespread adoption of these technologies viable.
Also Read: How the Middle East Transformation goals are affected by Cloud Computing
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The Middle East’s Public Cloud market is highly competitive
Several well-known companies dominate the highly fragmented Middle East Public Cloud market. Based on the security, scalability, and ease of access to all of the region’s data centers given by the Cloud, the Middle East Public Cloud companies compete with one another for clients. The firms also aim to invest in mergers to reduce competition and boost their market share in the Middle Eastern Public Cloud industry.
Worth of Middle East Cloud Market
In the following years, the Public Cloud market in the Middle East is projected to expand at a sizable CAGR of 20.5%. The Public Cloud market in the Middle East is predicted to be valued at USD 3.5 million in 2021 and USD 10.71 million by 2028.
Significant investments made by Middle Eastern Public Cloud market companies
A knowledge-based economy is being developed and established in Middle Eastern nations through investments in Cloud Computing projects and apps. The adoption of Public Clouds in the Middle East has been fueled by the region’s shared economic objective of becoming more technologically and data-centric. In addition, Middle Eastern SMEs have concentrated on installing Cloud services that would allow them to complete Business Analytics and Artificial Intelligence activities more quickly, which are important growth drivers for the region’s Public Cloud industry. Businesses that have adopted Al and ML technologies have profited from the fact that Public Cloud services already include these technologies, which has aided in the growth of the Public Cloud market in the Middle East. Modern technologies like Artificial Intelligence, 5G, and Machine Learning are being quickly adopted by businesses in the Middle East as part of their digital transformation strategy. These technologies are being used more frequently by Middle Eastern businesses to track data and perform analytics. Only Cloud Computing Services provides the foundation and allows for the speedy and on-demand handling of vast amounts of data, making the widespread adoption of these technologies conceivable.
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Main Forces Fueling the Middle East Public Cloud Market
Throughout the forecast period, the government’s increasing IT investments and initiatives are anticipated to drive the middle east Public Cloud market. As organizations become more aware of the advantages of the Cloud and its technologies and as demand for data protection and analytics rises, the market is expected to be pushed by these factors. Two more emerging Cloud-based technologies, the Internet of Things and Bring Your Device, are anticipated to have a big impact on the market in the future.
Future of Cloud Computing Technology in the Middle East
Over the past ten years, the Middle East has seen a tremendous rise in Cloud Computing, and “non-cloud” IT settings are now a thing of the past. Given the Cloud Computing industry’s fast expansion, it is reasonable to conclude that most sectors may employ one or more Cloud Computing tactics in their daily operations. Governments in the Middle East area are only now catching up to Cloud usage, although this trend affects every industry. We now have Cloud-based government data storage, government services enabled by apps, online services stored in the Cloud, web interactions, and more. A few benefits of using the Cloud include increased flexibility, increased productivity, and significant cost savings.
Also Read: Era of Cloud Computing technology rolls out in MENA region
Biggest Threats to the Middle East Public Cloud Market
Growing market expansion is being hampered by concerns about data loss. The protection of data is one of the most important aspects of business continuity. Accessing crucial information might be challenging in today’s digital age for various reasons. Cybercriminals routinely target businesses that keep sensitive data, which is just one of the numerous challenges they confront. Sadly, sensitive client data is not an exception when it comes to data centers. A common reason for data center disruptions is cyberattacks. By interfering with corporate processes, ransomware and cyberattacks lengthen downtime. Despite all of the advancements and innovations in Public Cloud Technology, achieving high levels of interoperability and Cloud Computing Security has proven to be a considerable problem.
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