Platform as a Service - Saudi Arabia

Saudi Arabia

Revenue in the Platform as a Service market is projected to reach €0.68bn in 2024.
0 dominates the market with a projected market volume of 0 in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 16.99%, resulting in a market volume of €1.49bn by 2029.
In global comparison, most revenue will be generated in the United States (€84,400.00m in 2024).

Key regions: United States, Italy, Australia, Netherlands, Japan

Marché

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Analyst Opinion

The Platform as a Service market within the Public Cloud Market in Saudi Arabia is experiencing substantial growth, driven by factors such as increasing adoption of digital technologies, rising awareness about the benefits of PaaS, and the convenience of accessing services online. This rapid growth is primarily influenced by the increasing demand for cost-effective and scalable solutions in the region.

Customer preferences: With the increasing focus on digital transformation, businesses in Saudi Arabia are turning towards Platform as a Service (PaaS) solutions to streamline their operations and improve efficiency. This trend is driven by the growing demand for cloud-based services and the need for agile and scalable IT infrastructure. Additionally, the government's initiatives to promote digitalization and innovation are further propelling the adoption of PaaS in the public cloud market.

Trends in the market: In Saudi Arabia, the Platform as a Service (PaaS) market within the Public Cloud market is experiencing a surge in demand, driven by the increasing adoption of digital transformation initiatives by businesses. This has led to the emergence of a trend towards using PaaS solutions for application development and deployment, as well as for data management and analytics. Furthermore, there is a growing emphasis on leveraging PaaS for managing complex and large-scale IT projects. This trend is expected to continue, with PaaS becoming an essential tool for businesses to improve their agility and efficiency in the rapidly evolving digital landscape. The implications of this trend for industry stakeholders include the need for PaaS providers to constantly innovate and enhance their offerings to meet the diverse needs of businesses, as well as the opportunity for businesses to leverage PaaS to gain a competitive edge in the market.

Local special circumstances: In Saudi Arabia, the Platform as a Service market within the Public Cloud Market is influenced by the country's strong investment in technology and digital transformation. The government's Vision 2030 initiative has created a favorable environment for the growth of cloud computing, with a focus on building a knowledge-based economy. Additionally, the country's strict data privacy laws and cultural preference for local data storage have led to the emergence of local cloud service providers catering to these unique regulatory requirements.

Underlying macroeconomic factors: The Platform as a Service Market within the Public Cloud Market in Saudi Arabia is influenced by macroeconomic factors such as the country's strong investment in technology and supportive regulatory environment. This has led to a growing demand for cloud-based solutions, especially in the public sector. Additionally, the country's stable economy and favorable fiscal policies have created a conducive environment for businesses to adopt cloud services. Furthermore, the increasing digital transformation initiatives and rapid growth of the IT sector in Saudi Arabia are expected to drive the demand for Platform as a Service solutions, as more organizations seek to modernize their operations and enhance their digital capabilities.

Methodology

Data coverage:

The data encompasses B2B and B2C enterprises. Figures are based on the money spent at manufacturer price level (excluding VAT).

Modeling approach / Market size:

The segment size is determined through a top-down approach. We use financial statements such as annual reports, quarterly earnings, and expert opinions to analyze the markets. To estimate the segment size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as GDP and level of telecommunications infrastructure.

Forecasts:

We use a variety of forecasting techniques, depending on the behavior of the relevant segment. The main drivers are the GDP and the level of digitization.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.