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(MoneyNewsWire.Net, October 27, 2017 ) Middle East Cloud Infrastructure Services Market worth 7.46 Billion USD by 2021
According to a new market research report " Middle East Cloud Infrastructure Services Market by Service Type (PaaS, IaaS, CDN/ADN, Managed Hosting, Colocation Services, and DRaaS), Service Provider, Organization Size, Deployment Model, Industry Vertical, and Country - Forecast to 2022", published by MarketsandMarkets™, the Middle East Cloud Infrastructure Services Market size is expected to grow from USD 2.66 Billion in 2017 to USD 8.79 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 27.0%
Browse 64 Market Data Tables and 34 Figures spread through 139 Pages and in-depth TOC on "Middle East Cloud Infrastructure Services Market"
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The key factors driving the Middle East Cloud Infrastructure Services Market include initiatives by governments and corporates to promote technologies such as cloud and analytics, increasing use of cloud dependent technologies such as Bring Your Own Device (BYOD) and Internet of Things (IoT), and business continuity requirements resulting in high demand for disaster recovery services.
The BFSI vertical is expected to hold the largest market share during the forecast period
Among industry verticals, BFSI is expected to continue to hold the largest market share during the forecast period. The vertical is going through a massive transformation as advancements in solutions and services in the cloud-based infrastructure are terminating odds of data confidentiality, data security, regulatory compliance, and quality of service. Furthermore, BFSI is rapidly leveraging online platforms to facilitate services and improve customers’ experience while simplifying access related to accounts and finances. Cloud infrastructure services are also helping banks and other financial institutions to boost their performance and increase their efficiency.
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The public cloud deployment model is expected to grow at a high CAGR during the forecast period
The public cloud-based deployment model is witnessing an increasing demand due to its cost effectiveness and easy availability. Public cloud is based on the cloud computing model which shares resources (such as CPU, servers, and racks) among various businesses depending on its demand. Public cloud-based solutions require less physical setup, incur low maintenance costs, and provide 24/7 accessibility from anytime, anywhere. Due to various benefits of public cloud such as scalability, reliability, flexibility, utility style costing, and location independence services, public cloud-based deployments are expected record a high growth rate, as compared with private or hybrid cloud deployments.
Other countries in the Middle East are expected to contribute the largest market share/Qatar to grow at the highest CAGR during the forecast period
Other countries, including Bahrain, Turkey, Egypt, Israel, Oman, Iran, and Kuwait, are expected to hold the largest market share in the Middle East Cloud Infrastructure Services Market. The growth can be attributed to increasing government initiatives and various cloud-related developments. Also, the establishment of offices of global cloud service providers in these countries are contributing to the promotion of cloud-based services. The market in Qatar is expected to grow at the highest CAGR during the forecast period. The primary driving forces for this growth are technological advancements, along with mandatory regulations imposed by government regulatory authorities to adopt the best-in-class technologies and standards.
Major vendors providing Middle East cloud infrastructure services include IBM (US), Microsoft (US), Fujitsu (Japan), Oracle (US), Cisco Systems (US), and Etisalat (UAE),
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