UAE Cloud Computing Market - Opportunities and Forecast, 2019-2026

UAE Cloud Computing Market By Service Model (Infrastructure as a Service, Platform as a Service, and Software as a Service), By Deployment Model (Public Cloud, Private Cloud, and Hybrid Cloud), By Organization Size (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, and Others) – Opportunities and Forecast, 2019-2026

 

Cloud computing is the delivery of on-demand computing services such as a server, database, storage, analytics, intelligence, and software through the internet. Cloud computing eliminates the capital expenses of purchasing hardware or software, enhances the overall productivity, is highly reliable, and strengthens the security by protecting the data, apps, and infrastructure from potential threats. Most cloud computing services fall into three categories: Infrastructure as a Service (IaaS), Platform as a Service (PaaS), and Software as a Service (SaaS). Cloud computing is widely used for testing and building different applications, storing and analyzing data, and streaming audios & videos.

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The primary factor driving the growth of the UAE Cloud Computing market during the forecast period includes the growing demand for cloud computing technology driven by its data value extraction capabilities using advanced technologies such as blockchain and Artificial Intelligence (AI) in the UAE. The rising adoption of cloud computing across numerous industries such as BFSI, media & entertainment, hospitality, and retail & consumer goods, will drastically drive the demand for cloud computing technologies in the UAE over the coming years. In addition to this, the government has launched several initiatives, including the National Innovation Strategy aims to develop a culture of innovation among individuals and organizations, and the TRA Vision focuses on promoting electronic transformation while encouraging innovation across the UAE. These initiatives are mainly focusing on technological innovation, thereby boosting the usage of cloud computing technologies in the region. Moreover, the other initiatives such as UAE Vision 2021, Dubai Smart City, and Abu Dhabi Vision 2030, will accelerate the demand for real-time operations to transform public services & experience, thus increasing the adoption of cloud computing across the UAE. The increasing volume of data generation on website and mobile applications and the rising need to control and reduce Capital Expenditure (CAPEX) and Operational Expenditure (OPEX) will fuel the growth of emerging technologies including Artificial Intelligence (AI) and Machine Learning (ML). The increasing focus of multinational giants towards enhanced customer experience will propel technological development in the customer-centric applications for driving better customer satisfaction. This emerging demand for technological advancement will encourage the usage of cloud computing technologies in customer apps over the coming years. On the other hand, the rising data security concerns and the lack of skilled workforce in the market will hamper the growth of the UAE Cloud Computing market during the forecast period.

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Based on the deployment model, the hybrid cloud segment is expected to grow at a higher CAGR during the forecast period owing to the increasing adoption of hybrid cloud in numerous industries, especially in the Small & Medium Enterprises (SMEs) across the UAE. Moreover, the expanding user and resource mobility and the growing application of cloud migration will encourage the adoption of hybrid cloud. Various multinational giants such as IBM have launched different cloud services in UAE to capture the changing demand of the end-users.

Based on organisation size, the Small and Medium-sized Enterprises segment is projected to grow at a higher CAGR during the forecast period due to the increasing adoption of cloud computing technologies by small and medium sized enterprises driven by its remarkable advantages such as high flexibility, easy to use, and cost-effective. It also offers pay-for-what-you-use payment models and reduces operational cost along with customized options as per the end-user needs.

Based on the Vertical, the Banking, Financial Services and Insurance (BFSI) segment is expected to grow at a higher CAGR during the forecast period owing to the increasing adoption of latest technologies such as Artificial Intelligence (AI), Machine Learning and blockchain in the BFSI sector across the UAE. These technologies are mainly used for networking, databases and storing a large amount of data generated by the banks and financial institutes. For instance, the government of Dubai is planning to transform the transactions to the blockchain-based platform for improving efficiency across different industries. Moreover, the BFSI is mainly focussing on enhancing customer experience, providing quick response, and better security to their customers at an affordable cost.

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Various notable players operating in the UAE Cloud Computing market include Amazon Web Services, Inc., Microsoft Corporation, Google LLC, Oracle UAE, IBM Middle East FZ LLC, Alibaba Cloud, Rackspace Inc., Salesforce.com, Inc., Adobe Inc., VMware, Inc., SAP Middle East FZ LLC, Fujitsu United Arab Emirates, among others.

Key questions answered in this research report:

1- At what pace is the UAE Cloud Computing market growing? What will be the trend in growth in the future?

2- What are the key drivers and restraints in the UAE Cloud Computing market? What will be the impact of drivers and restraints in the future?

3- What are the various industry vertical areas of the UAE Cloud Computing market, and how are they poised to grow?

4- What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

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