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Saudi Arabia Cloud Computing Market is expanding at a compound annual growth rate between 35% to 40% during the period 2022-2029 | Share, Size & Report

12-05-2022 11:33 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: GMI Research

Saudi Arabia Cloud Computing Market

Saudi Arabia Cloud Computing Market

The Saudi Arabia Cloud Computing Market is estimated to grow at a CAGR between 35%- 40% over the forecast period (2022-2029).

For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/product/saudi-arabia-cloud-computing-market/

The factors driving growth of the Saudi Arabia Cloud Computing Market includes increase in the number of internet users across Saudi Arabia, rising focus by companies on enhancing IT infrastructure, growing demand for cloud services by healthcare institutions across Saudi Arabia and improvements in the living standards. Moreover, growing adoption of advanced technologies such as Artificial Intelligence (AI), Big Data Analytics and Internet of Things (IoT), Government initiatives to improve the digital infrastructure and increase in the Foreign Direct Investment (FDI) in Saudi Arabia in Information Technology sector, are some of the additional factors supplementing the Saudi Arabia Cloud Computing Market size. In addition, the increasing investments by major corporations on research and development, rise in the launch of innovative products, strategic partnerships between enterprises, rapid urbanization, and growing population growth rates, are further contributing towards the market growth.

However, growth of the Saudi Arabia Cloud Computing Market is hindered due to growing concerns related to data breaches.

Based on Service Model, the Software as a Service segment captured the largest market share during the forecast period

Increasing adoption of Software as Service model by companies for managing various business processes such as customer relationship management (CRP), ERP, Marketing Automation and Financial Accounting, along with rising demand for subscription-based pricing model, are propelling Saudi Arabia Cloud Computing Market share.

Based on Deployment Mode, the Hybrid Cloud segment is projected to expand at a remarkable CAGR over the forecast period

Hybrid cloud services combines private cloud with one or more public cloud services, offers better control over data, stores sensitive data, and provides flexibility by shifting workloads between cloud solutions, are some of the features pushing growth of the segment.

Key Developments

In 2020, Oracle planned to provide partners and customers with access to all Oracle Cloud Services, which include Oracle Autonomous Database and Oracle Autonomous Linux, along with Oracle Cloud Applications to unlock innovation and drive the business growth.
In 2020, Alibaba Cloud collaborated with the state-owned Saudi Telecom Company (STC) to provide high-performance public cloud services in the Kingdom. This collaboration is a significant milestone for STC to contribute to the Saudi Arabia's Vision 2030 by introducing a trusted cloud service partner.

Market Segmentation

Segmentation by Service Model

Infrastructure as a Service
Platform as a Service
Software as a Service

Segmentation by Deployment Model

Public Cloud
Private Cloud
Hybrid Cloud

Segmentation by Organization Size

Small and Medium Enterprises
Large Enterprises

Segmentation by Workload

Storage, Backup, and Disaster Recovery
Application Development and Testing
Database Management
Business Analytics
Integration and Orchestration
Enterprise Resource Management
Collaboration and Content Management

Segmentation by Industry Vertical

Manufacturing
Healthcare and Life Sciences
IT & Telecom
Retail and Consumer Goods
Energy and Utilities
Media and Entertainment
BFSI
Government and Public Sector
Others

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe - +353 1 442 8820; US - +1 860 881 2270
Address: Dublin, Ireland
Website: https://www.gmiresearch.com/

Level 1, The Chase Carmanhall Road, Sandyford Industrial Estate, Dublin D18 Y3X2, Ireland

GMI Research's leadership team with extensive experience in research and consulting together with our research and domain expertise creates a strong value proposition to create solutions that addresses our clients business problems and add significant value to long lasting relationship.

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