The MEA Cloud Infrastructure Services Market is expected to grow at a Compound Annual Growth Rate (CAGR) of 11.0% during the forecast period (2018–2023) to reach a market size of USD 4.72 billion by 2023. Cloud infrastructure service providers help an enterprise achieve scalability and improve businesses continuity by providing for high availability. Such benefits are expected to spur the demand for cloud infrastructure services in the MEA.
Cloud infrastructure service providers will witness major technological changes along with evolving technological advancements. Enterprises are increasingly setting up cloud services with third-party assistance. Moreover, the integration of cloud services with on-premises systems may further result in a higher demand for cloud infrastructure services.
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The disaster recovery and backup as a service segment is expected to grow at the highest rate during the forecast period. It is very critical for enterprises and consumers to protect their data to ensure business continuity at all times. Disaster recovery and backup as a service helps protect and recover data from any man-made or natural disaster. Moreover, these service provided through the cloud minimizes the operational and capital expenditure incurred.
The private cloud segment is expected to grow at the highest rate during the forecast period. Organizations in the MEA are having data security and privacy concerns opt for the private cloud deployment model as it is offered within the corporate firewall. Private cloud deployments enable these companies to have better control over their data and also reduce the risks of data loss and issues related to regulatory compliance.
The Small and Medium-sized Enterprises (SMEs) segment is expected to grow at a higher CAGR during the forecast period. Cloud infrastructure services are being increasingly adopted by SMEs in the MEA due to the ease and flexibility they offer. Moreover, cloud infrastructure services provide all these features to incorporate resource changes and provide pay-as-you-go payment models beneficial to SMEs.
The MEA cloud infrastructure services play an important role in the retail and consumer goods industry vertical. Retail organizations deal with a large amount of data which is collected through various Point of Sale (POS) terminals and websites. Cloud infrastructure provides opportunities for retailers regardless of their size to accelerate innovation, liberating their focus over developing competitive advantages without the weight of back-end reconciliations and framework maintenance.
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