Saudi Arabia Data Center Market expected to Grow at high CAGR through 2028
Increase in Internet penetration
and rising online platforms in the country is expected to drive the Saudi Arabia Data
Center market.
According to
TechSci Research report, “Saudi Arabia Data Center
Market - By Region, Competition, Forecast & Opportunities, 2028F”, The Saudi
Arabia Data Center market is growing at a rapid rate in the forecast period as
market players like IBM, SAP, Amazon Web Services, Microsoft Azure, and other
major global cloud service providers are making a strong presence in the
country. For instance, the Oracle Cloud Console lists the new Jeddah cloud data
center that Oracle opened in 2020. Moreover, Cloud service provider, Google,
announced a partnership with Saudi Aramco to establish a cloud in Saudi Arabia
and provide customers with cloud services which is currently in the planning
stages, Moreover, STC (Saudi Telecommunication Company) plans to
invest USD500 million in cloud development in Saudi Arabia in partnership with
eWTP Arabia Capital and Alibaba Cloud. All these initiatives are boosting the
in the Saudi Arabia Data center market.
Moreover, the cloud
technology has been adopted by a number of industries, including BFSI,
healthcare, education, hospitality, government, and transportation. For
instance, to provide simpler partner and customer services, the Saudi
Investment Bank deployed IBM hybrid cloud solutions in their banking system.
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With several Saudi Arabian
enterprises investing in Big Data and IoT technology due to the rising
acceptance of smart devices, the rising demand for analytics, the adoption of
the cloud, and the development of wireless networking technologies. These factors
are creating demand for data centers in Saudi Arabia.
The Saudi Arabia Data Center
Market is divided into solution, type, end user industry. Based on Solution,
the market is divided into IT Infrastructure, General Infrastructure,
Electrical Infrastructure, Mechanical Infrastructure and Others. Based on Type,
the market is segmented into Corporate and Web Hosting. Based on end user
industry, the market is divided into IT & Telecom, Government, BFSI,
Healthcare and Others.
In terms of regional
analysis, the Saudi Arabia Data Center Market is segmented into Eastern Region,
Northern & Central Region, Western Region, Southern Region. The Central
Region is dominant as most of the market players are present in this region.
Based
on solution, the IT infrastructure holds the largest market share in 2022 as rising
investment in data centers and the arrival of international cloud service
providers in the nation are projected to be key drivers of the IT
infrastructure market's expansion. Moreover, due to the expansion of
5G deployment and IoT-related technology, high-performance server systems are anticipated
to dominate the market.
Recently
in other to expand cloud services in Saudi Arabia, Saudi Aramco and Saudi
Telecom Company (STC) launched Dammam 7, one of the world's fastest
supercomputers, that uses Nvidia Tesla V100 GPUs, 2.5GHz Intel Xeon Gold
6248 CPUs, and InfiniBand networking that provides better computing solutions.
The
BFSI vertical in fastest growing segment in the forecast period as there are
major investments for digital transformation of the banks. For instance, in April 2022, Red Hat Inc., a provider of open-source solutions,
announced that Riyad Bank, a leading financial institution
in Saudi Arabia (KSA) has deployed a hybrid cloud strategy based on Red Hat's
portfolio of open hybrid cloud technologies, including Red Hat OpenShift. The
bank's efforts to accelerate innovation and time-to-market for digital services
and products are primarily based on Red Hat's open innovation strategy. Riyad
Bank is undergoing a digital
transformation to increase its competitiveness in the growing fintech sector
and is in the process of helping the Kingdom realize Vision 2030. The bank is
working to promote financial inclusion and the banking industry's expansion,
growth, and diversity to accomplish the goal. These efforts are partly
motivated by emerging IT advancements. Riyad Bank additionally uses Red Hat
OpenStack Platform as a basis for private cloud, Red Hat OpenShift Data
Foundation, and Red Hat Ceph Storage for its storage requirements to support
cloud architecture, driving the growth of the market. All these factors would
create higher demand for Data centers in Saudi Arabia.
Key market
players in the Saudi Arabia Data Center Market include:
- Google LLC
(Alphabet Inc.)
- Amazon Web Services
Inc. (AMAZON.COM, Inc.)
- Alibaba Cloud
(Alibaba Group Holding Limited)
- Microsoft
Corporation, Oracle Corporation
- CloudSigma AG
- VMware, Inc.
- Salesforce Inc.
- Saudi Telecom
Company
- IBM Corporation.
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“The Saudi Arabia
Data Center Market is expected to expand during the projected period. IoT and
big data markets have seen rapid expansion in the recent years. The expansion
of IoT and big data in Saudi Arabia will also increase investment in data
centers as all these services would run over cloud. The use of smartphones is
the main contributor to data generation among internet-enabled devices. A range
of IoT-enabled gadgets are being adopted by the market at a moderate and steady
rate. During the forecast period, it is anticipated that the notion of
connected homes and cars would expand dramatically. Moreover, there is an
increasing need for data centers in the area since the data created by social
media users is retained for additional data analytics and marketing purposes.
The data created by online video content is projected to enhance the need for
data storage and attract new investments from data center operators during the
projection period.” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based global management consulting firm.
“Saudi Arabia Data Center Market– Segmented By Solution
(IT Infrastructure, General Infrastructure, Electrical Infrastructure,
Mechanical Infrastructure and Others), By Type (Corporate and Web Hosting), By
End User Industry (IT & Telecom, Government, BFSI, Healthcare and
Others),By Region, Share, Trends, Opportunity, and Forecast, 2018-2028F”, has evaluated the future growth potential of Saudi Arabia
Data Center Market and provides statistics and information on market structure,
size, share, and future growth. The report is intended to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities present in the Saudi Arabia Data
Center Market.
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