Report Description

Saudi Arabia Cloud Services Market is anticipated to grow at a rapid pace during the forecast period, 2023-2028, owing to growing demands for cheaper capital investment, expanding adoption of digital business strategies, escalating demand for the Internet of Things (IoT), and quickly and easily implemented cloud services.

The market for cloud services in Saudi Arabia is significantly influenced by the rising number of internet users. With the spread of the internet, data generation is dramatically increasing. It is difficult to store such a big amount of data securely. Many businesses continue to keep their corporate and client data in real data centers. Cloud server vendors anticipate supplying more cloud-based data centers at lower prices as more companies adopt cloud computing. Enterprises will profit from cloud service providers' ability to offer competitive costs. This innovation will enable the storage of data in less physical space.

Since implementing its Cloud First Policy in 2019, Saudi Arabia has experienced a 16% growth rate in cloud services, according to the International Trade Association. This policy was introduced to hasten the public and private sectors' use of the cloud. Saudi Arabia is a leader in the MENA area in terms of ICT readiness and cloud computing utilization. Saudi authorities provide a wider range of services and uphold higher standards of data privacy protection because they understand that embracing cloud computing is essential for economic advancement. Prioritization is given to techniques that match IT resources with business and application needs in order to enhance cloud performance and speed the accomplishment of ideal business goals.

Cloud services are a large range of on-demand services offered to customers and organizations online. These services are designed to make it easy and affordable to access applications and resources without the need for internal hardware or infrastructure. All aspects of cloud services are under the control of cloud computing vendors and service providers. Since consumers can access apps from the providers' servers, a firm does not need to host them on its own servers.

Economic Advantages Driving Cloud Adoption

The Kingdom of Saudi Arabia's economy is rapidly growing. The IMF (International Monetary Fund) estimates that Saudi Arabia's real GDP grew by 7.6% in 2022 as opposed to 3.2% in 2021. This year's economic growth aided by the oil sector, which is predicted to grow at the fastest rate since 2003. The country's oil production will rise by 14% as it continues to reverse the 2020 oil production cuts imposed by the current OPEC (Organization for Petroleum Exporting Countries) agreement. Increasing domestic demand and the advancement of programmes for economic diversification will benefit the non-oil sector, which will also contribute to economic growth. Furthermore, the Saudi Arabian Monetary Agency reports that in the first quarter of 2022, foreign direct investment in Saudi Arabia increased by USD 1965 million. Such a sharp increase in GDP and FDI implies that the country's overall revenue is rising and the technology sector is also expanding at a similar rate. Furthermore, it is expected that the rate of this structural transformation will continue in the upcoming years due to a number of investment projects under the Public Investment Fund and leading enterprises. It is also expected that information and creative ideas would localize. Such visionary initiatives are anticipated to propel the market's economy. The cloud service providers will greatly gain from this, allowing them to approach public enterprises to implement cloud services and increase their market share.

Increasing Technology Giants' Penetration

As Saudi Arabia has witnessed a demand for adaptable and scalable IT infrastructures and business solutions that are efficient and quick to adapt to changing circumstances, allowing for the seamless adoption of new technologies and promoting new business models. This is because the corporate climate across the country is changing significantly as a result of digital transformation. Local and multinational businesses are moving into the area to monitor the demand for cloud services. For instance, Saudi Cloud Computing Co. selected Riyadh as a regional hub for Alibaba Cloud operations in the Middle East in June 2022, and it subsequently began offering its services there. A joint venture dubbed (Saudi Cloud Computing Company)SCCC has been established by Alibaba Cloud, Saudi Telecom Co. Group, eWTP Arabia Capital, the Saudi Company for Artificial Intelligence, and the Saudi Information Technology Co. The freshly launched data centers offer a range of cloud computing options, including elastic computing and network to the database, to satisfy the needs of sectors such as retail, banking, and the internet.


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Market Segmentation

The Saudi Arabia Cloud Services Market is divided into offering, deployment, type, enterprise size, and vertical. Based on offering, the market is further bifurcated into software and solution. Based on deployment, the market is segmented into public cloud, private cloud, and hybrid cloud. Based on type, the market is divided into IaaS, SaaS, PaaS. Based on enterprise size, the market is segmented into large enterprise, small enterprise, and medium enterprise. Based on vertical, the market is further split into BFSI, IT & Telecom, government, retail, manufacturing, oil, gas, and utilities, healthcare, others.

Market Players

Major market players in the Saudi Arabia Cloud Services Market are 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, and IBM Corporation.

Recent Development

In July 2022, Foodics, one of the largest cloud-based fintech platforms for restaurants in Saudi Arabia, and Alinma Bank, one of the top banks for digital payments, teamed together. The partnership aims to empower small and medium-sized enterprises in the country by providing them the freedom to sell from any location at any time and take payments while on the road.

Attribute

Details

Base Year

2022

Historic Data

2018 – 2022

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Million, and CAGR for 2018-2022 and 2024-2028

Report coverage

Revenue forecast, company share, growth factors, and trends

Segments covered

Offering

Deployment

Type

Enterprise Size

Vertical Type

Regional scope

Eastern Region, Northern & Central Region, Western Region, Southern Region

Key companies profiled

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

Customization scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

 

Report Scope:

In this report, the Saudi Arabia Cloud Services Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

·         Saudi Arabia Cloud Services Market, By Offering:

o   Software

o   Solution

·         Saudi Arabia Cloud Services Market, By Deployment:

o   Public Cloud

o   Private Cloud

o   Hybrid Cloud

·         Saudi Arabia Cloud Services Market, By Type:

o   IaaS

o   SaaS

o   PaaS

·         Saudi Arabia Cloud Services Market, By Enterprise Size:

o   Large Enterprise

o   Small Enterprise

o   Medium Enterprise

·         Saudi Arabia Cloud Services Market, By Vertical Type:

o   BFSI

o   IT & Telecom

o   Government

o   Retail

o   Manufacturing

o   Oil, Gas, and Utilities

o   Healthcare

o   Others

·         Saudi Arabia Cloud Services Market, By Region:

o   Eastern Region

o   Northern & Central Region

o   Western Region

o   Southern Region

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Saudi Arabia Cloud Services Market.

Available Customizations:

With the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).
Saudi Arabia Cloud Services Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Service Overview

2.    Research Methodology

3.    Impact of COVID-19 on Saudi Arabia Cloud Services Market

4.    Executive Summary

5.    Voice of Customers

5.1.  Brand Awareness

5.2.  Factors Considered for Choosing Cloud Service Vendor

5.3.  Major Challenges Faced During Implementation

6.    Saudi Arabia Cloud Services Market Outlook

6.1.  Market Size & Forecast

6.1.1.    By Value

6.2.  Market Share & Forecast

6.2.1.    By Offering (Software, Solution)

6.2.2.    By Deployment (Public Cloud, Private Cloud, Hybrid Cloud)

6.2.3.    By Type (IaaS, SaaS, PaaS)

6.2.4.    By Enterprise Size (Large Enterprise, Small Enterprise and Medium Enterprise)

6.2.5.    By Vertical (BFSI, IT & Telecom, Government, Retail, Manufacturing, Oil, Gas, and Utilities, Healthcare, Others)

6.2.6.    By Region

6.2.7.    By Company

6.3.  Market Map

7.    Northern & Central Region Saudi Arabia Cloud Services Market Outlook

7.1.  Market Size & Forecast

7.1.1.    By Value

7.2.  Market Share & Forecast

7.2.1.    By Offering

7.2.2.    By Deployment

7.2.3.    By Type

7.2.4.    By Enterprise Size

7.2.5.    By Vertical Type

8.    Western Region Saudi Arabia Cloud Services Market Outlook

8.1.  Market Size & Forecast

8.1.1.    By Value

8.2.  Market Share & Forecast

8.2.1.    By Offering

8.2.2.    By Deployment

8.2.3.    By Type

8.2.4.    By Enterprise Size

8.2.5.    By Vertical Type

9.    Eastern Region Saudi Arabia Cloud Services Market Outlook

9.1.  Market Size & Forecast

9.1.1.    By Value

9.2.  Market Share & Forecast

9.2.1.    By Offering

9.2.2.    By Deployment

9.2.3.    By Type

9.2.4.    By Enterprise Size

9.2.5.    By Vertical Type

10. Southern Region Saudi Arabia Cloud Services Market Outlook

10.1.             Market Size & Forecast

10.1.1. By Value

10.2.             Market Share & Forecast

10.2.1. By Offering

10.2.2. By Deployment

10.2.3. By Type

10.2.4. By Enterprise Size

10.2.5. By Vertical Type

11. Market Dynamics

11.1. Drivers

11.1.1. Economic Advantages Driving Cloud Adoption

11.1.2. Increasing Technology Giants' Penetration

11.1.3. Technological Advancement

11.2. Challenges

11.2.1. High Dependence on External Sources To Balance The Skill Deficit

11.2.2. Compliance Issues, Migration Complexity, and Security Risks

12. Market Trends & Developments

12.1.   Government Initiative

12.2.   Internet Of Things

12.3.   3D Modeling & Visualizations

12.4.   Robotics & Automation

12.5.   Increasing Private Investment

13. Policy & Regulatory Landscape

14. PORTER Analysis

15. Company Profiles

15.1.              Google LLC (Alphabet Inc.)

15.1.1. Business Overview

15.1.2. Key Revenue and Financials (If Available)

15.1.3. Recent Developments

15.1.4. Key Personnel

15.1.5. Key Product/Services

15.2.             Amazon Web Services Inc. (AMAZON.COM, Inc.)

15.2.1. Business Overview

15.2.2. Key Revenue and Financials (If Available)

15.2.3. Recent Developments

15.2.4. Key Personnel

15.2.5. Key Product/Services

15.3.             Alibaba Cloud (Alibaba Group Holding Limited)

15.3.1. Business Overview

15.3.2. Key Revenue and Financials (If Available)

15.3.3. Recent Developments

15.3.4. Key Personnel

15.3.5. Key Product/Services

15.4.             Microsoft Corporation

15.4.1. Business Overview

15.4.2. Key Revenue and Financials (If Available)

15.4.3. Recent Developments

15.4.4. Key Personnel

15.4.5. Key Product/Services

15.5.             Oracle Corporation  

15.5.1. Business Overview

15.5.2. Key Revenue and Financials (If Available)

15.5.3. Recent Developments

15.5.4. Key Personnel

15.5.5. Key Product/Services

15.6.             CloudSigma AG

15.6.1. Business Overview

15.6.2. Key Revenue and Financials (If Available)

15.6.3. Recent Developments

15.6.4. Key Personnel

15.6.5. Key Product/Services

15.7.             VMware, Inc.

15.7.1. Business Overview

15.7.2. Key Revenue and Financials (If Available)

15.7.3. Recent Developments

15.7.4. Key Personnel

15.7.5. Key Product/Services

15.8.             Salesforce Inc

15.8.1. Business Overview

15.8.2. Key Revenue and Financials (If Available)

15.8.3. Recent Developments

15.8.4. Key Personnel

15.8.5. Key Product/Services

15.9.             Saudi Telecom Company

15.9.1. Business Overview

15.9.2. Key Revenue and Financials (If Available)

15.9.3. Recent Developments

15.9.4. Key Personnel

15.9.5. Key Product/Services

15.10.          IBM Corporation

15.10.1.              Business Overview

15.10.2.              Key Revenue and Financials (If Available)

15.10.3.              Recent Developments

15.10.4.              Key Personnel

15.10.5.              Key Product/Services

16. Strategic Recommendations

16.1.   Key focus on Eastern Region

16.2.   Key focus towards Hybrid Model

17. About Us & Disclaimer

Figures and Tables

Frequently asked questions

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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, and IBM Corporation are some of the main market players in the Saudi Arabia Cloud Services Market.

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The 3 types of cloud services are Infrastructure as a Service (IaaS), Platform as a Service (PaaS), Software as a Service (SaaS).

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The dominant region in Saudi Arabia Cloud Services Market is Central region as major companies have their head offices in the region.

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The main challenge faced in Saudi Arabia Cloud Services Market are high dependence on external sources to balance the skill deficit.

profile

Sakshi Bajaal

Business Consultant
Press Release

Saudi Arabia Cloud Services Market is Expected to Grow at high CAGR through 2028

Jan, 2023

Investments in technology as Saudi enterprises shift to a digital-first approach to drive the Saudi Arabia Cloud services market.