Egypt Cloud Computing market is predicted to reach a higher CAGR

Egypt Cloud Computing market

The Egypt Cloud Computing market is estimated to grow at a higher CAGR over the forecast period (2020-2027).

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The factors driving growth of the Egypt Cloud Computing market includes increase in the number of Healthtech start-ups across Egypt such as Smart Medical Services, Yodawy and Rology, Government initiatives to build Data center clusters, growing popularity of video streaming platforms and improvements in the living standards. According to the report published by Trescon Cloud, the Ministry of Communications, and Information Technology (MCIT) in Egypt is planning to build a giant Data center cluster, located at the 60,000m2 Borg El Arab Technology Park, which will accelerate the Egypt Cloud Computing Market share in the approaching years. Moreover, growing adoption of advanced technologies such as Artificial Intelligence (AI), Machine Learning (ML) and Internet of Things (IoT), commercialization of 5G technology, rising emphasis on digital transformation and rapid urbanization, are some of the additional factors supplementing the market growth. In addition, the increasing investments by leading players on research and development, strategic collaborations between enterprises, rise population growth rates and growing disposable incomes, are further contributing towards the market growth.

However, growth of the Egypt Cloud Computing market is hindered due to rising concerns related to cyber-attacks.

Based on Service Model, the Software as a Service segment is predicted to capture the largest market share during the forecast period

Growing adoption of cloud computing services to eliminate high up front licensing fees and huge capital costs, is pushing segment’s growth.

Based on Organization Size, the Small and Medium-Sized Enterprises segment is projected to grow at a significant CAGR over the forecast period

Cloud computing services helps small and medium enterprises to eliminate repetitive operations, prioritize work, and enhance team collaboration, is propelling growth of the segment.

Based on Industry Verticals, the Banking, Financial Services, and Insurance is anticipated to expand at a remarkable CAGR during the forecast period

Rising focus by banks on reducing operational costs and enhancing consumer’s experience along with growing adoption of advanced technologies such as Machine Learning (ML), Blockchain and Internet of Things (IoT), are some of the important factors augmenting the segment’s growth.

key development

In 2020, VMware, Inc., inaugurated its first office in Egypt to help the country in driving digital transformation across various industries such as education, healthcare, government, and other sectors, with respect to Egyptian government’s ambitious Vision 2030 agenda.

Market segmentation

Segmentation by Service Model

Infrastructure as a Service
Platform as a Service
software-as-a-service

Segmentation by Deployment Model

Public Cloud
Private cloud
hybrid clouds

Segmentation by organization size

Small and Medium-Sized Enterprises
Large Enterprises

Segmentation by workload

Storage, Backup, and Disaster Recovery
Application development and testing
database management
Business Analytics
Integration and Orchestration
Enterprise resource management
Collaboration and content management

Segmentation by industry verticals

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
Others

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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This release was published on openPR.

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