South Africa Cloud Computing Market is estimated to grow at a robust CAGR during the forecast period 2022-2029 | Research Report

The South Africa Cloud Computing Market is estimated to grow at a robust CAGR over the forecast period (2022-2029).

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The factors driving growth of the South Africa Cloud Computing Market includes increasing internet penetration rates across South Africa, roll-out of 5G technology, rapid economic growth, rising demand for video streaming platforms such as Amazon Prime, Disney+ and Netflix and improvements in the living standards. Moreover, growing adoption of advanced technologies such as Artificial Intelligence (AI), Internet of Things (IoT) and Big Data Analytics, Government initiatives to promote digitalization and rapid urbanization, are some of the additional factors supplementing the market growth. In addition, the increasing investments by leading players on research and development, rise in the launch of new products and growing awareness about the benefits of using cloud services, are further contributing towards the market growth.

However, growth of the South Africa Cloud Computing Market is hindered due to rising concerns related to cyberattacks.

Based on Service Model, the Infrastructure as a Service segment is predicted to grow at a significant CAGR during the forecast period

Infrastructure as a service model enhances overall performance, reduces capital costs, and provides flexibility and scalability along with rising penetration of hybrid cloud platforms, are some of the factors propelling segment's growth.

Based on Organization Size, the Small and Medium-Sized Enterprises is projected to grow at a robust CAGR over the forecast period

Growing adoption of cloud computing services by small and medium enterprises to enhance business operations related to financial management, project management and marketing, is pushing growth of the segment.

Based on Industry Verticals, the Banking, Financial Services, and Insurance segment is anticipated to expand at a remarkable CAGR during the forecast period

As per the South Africa Cloud Computing Market Analysis, cloud-based services offer secured storage facilities, 24*7 uptime and are increasingly used in payment gateways, digital wallets, and online fund transfer, are some of the important factors augmenting segment's growth.

Key Developments

In 2021, Oracle developed its cloud region in countries including Brazil, the UAE, Saudi Arabia, Italy, Spain, France, Singapore, South Africa, Israel, among other countries.
In 2021, IBM and Junior Achievement (JA) South Africa launched OPEN P-TECH for Africa program which will offer South Africa's youth with skills related to the digital era and marketplace.

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-Sized 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 Verticals

Banking, Financial Services and Insurance
IT and Telecommunications
Government and Public Sector
Retail and Consumer Goods
Manufacturing
Energy and Utilities
Media and Entertainment
Healthcare and Life Sciences
Others

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