SaaS segment to dominate the Saudi Arabia Cloud Computing market till 2026 – TechSci Research
According to TechSci Research report, “Saudi Arabia Cloud Computing Market By Service (SaaS, IaaS, PaaS) By Type (Public, Private, Hybrid) By Organization Size (Small & Medium-Sized Enterprises (SMEs), Large Enterprises) By Application (App Hosting, E-mail, Storage & Backup, CRM, Business Analytics, Database & Content Management and Others) By End User (IT & Telecom, BFSI, Manufacturing, Government, Healthcare and Others), By Region, Company Forecast & Opportunities, 2026”, The Saudi Arabia Cloud Computing market is expected to grow at a steady rate during the forecast period. High internet penetration and proliferation of smart devices are contributing to the Cloud Computing market growth. The rise in implementation of advanced technologies such as machine learning, artificial intelligence, among others coupled with the preference shift of organizations towards cloud technology is fueling the growth of the Cloud Computing market.
The COVID-19 outbreak across the world which has been declared as a pandemic by World Health Organization has affected several countries adversely. Leading authorities of Saudi Arabia imposed lockdown restrictions and released a set of precautionary measures to contain the spread of novel coronavirus. Coronavirus-affected patients started suffering from shortness of breath along with coughing and sneezing. Organizations imposed work from home policy to ensure employees protection which urged the organization to transform their business models into digital which in turn increased the demand for cloud technology in the region. Cloud technology enables remote access of the applications that are the major reason the companies started to invest to adopt cloud-based technology. Due to the presence of strict restrictions, disruption in the supply chain was observed leading to pending business decisions that adversely affected the Cloud Computing market.
However, lack of skilled IT professionals may create a hindrance in the Saudi Arabia Cloud Computing market growth.
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Saudi Arabia Cloud Computing market is segmented into service, type, organization size, application, end user, regional distribution, company. Based on type, the market can be divided into public, private, and hybrid. The hybrid type segment is expected to witness growth in the forecast period, 2022-2026. Hybrid cloud offers services of both the public and private cloud by integrating them with proprietary software which enables smooth communication between each separate service. Hybrid cloud can provide wider flexibility than its other two counterparts by managing the workload between public and private cloud types. Based on organization size, the market is divided into small & medium-sized enterprises (SMEs), and large enterprises. The large enterprise organization size is expected to hold a major market share in the next five years owing to the widespread adoption of digitalization across various industry verticals. Due to the presence of a large working population, the organizations prefer to adopt mobile technology and wide bandwidth as they cannot afford to lose customers due to network or connectivity issues. Based on end user, the market can be divided into IT & telecom, BFSI, manufacturing, government, healthcare, and others. The BFSI end user segment is expected to account for a major market share in the predicted period. The adoption of cloud technology by the banking sector to provide safe payment gateways is the major driving factor for the growth of this segment. The surge in customer preference for personalized banking services coupled with the advancements in technology is contributing to high market growth.
Press Release: https://www.techsciresearch.com/news/6620-saudi-arabia-cloud-computing-market.html
Saudi Aramco Development Co., Oracle Systems Limited - Saudi Arabia, Saudi Telecom Company, Alibaba Cloud, IBM Saudi Arabia, Microsoft Corporation, Nournet, Wafai CLOUD, CloudSigma AG, Etihad Etisalat Company, and others are some of the leading players operating in Saudi Arabia Cloud Computing market. Companies operating in the market are using strategies such as joint ventures, product launches, mergers, and research collaborations to boost their share and increase their geographic reach.
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“With the onset of the National Transformation Program, the government started digital implementation in all the prominent industries including manufacturing, healthcare, BFSI, among others to digitize the operational process and provide e-services to the consumers to enhance the experience and increase transparency in the system. Also, the growing demand for e-commerce channels as they offer a wide variety of options and enhance the experience of shopping or exploring through online channels. Companies are offering lucrative discounts to attract more customers on their online platforms. Market players are preferring cloud-based technology for their online channels as they are scalable, affordable, and can be accessed remotely which are the major reasons contributing to propel the market growth till 2026” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
According to TechSci Research Report “Saudi Arabia Cloud Computing Market By Service (SaaS, IaaS, PaaS) By Type (Public, Private, Hybrid) By Organization Size (Small & Medium-Sized Enterprises (SMEs), Large Enterprises) By Application (App Hosting, E-mail, Storage & Backup, CRM, Business Analytics, Database & Content Management and Others) By End User (IT & Telecom, BFSI, Manufacturing, Government, Healthcare and Others), By Region, Company Forecast & Opportunities, 2026”, has evaluated the future growth potential of Saudi Arabia Cloud Computing market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Saudi Arabia Cloud Computing market.
We Cover following topics in this report
· Saudi Arabia Cloud Computing Market Outlook
· Saudi Arabia Cloud Computing Market Size
· Saudi Arabia Cloud Computing Market Share
· Saudi Arabia Cloud Computing Market Growth
· Saudi Arabia Cloud Computing Market Forecast
· Saudi Arabia Cloud Computing Market Future
· Saudi Arabia Cloud Computing Market Trends
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