The Saudi Arabia Cloud Computing market was estimated to be USD xx Million in 2019 and is anticipated to touch USD xx Million by the end of 2027, while increasing at a CAGR of 35% to 40% during the forecast period (2020-2027).

Introduction of the Saudi Arabia Cloud Computing Market Report

Saudi Arabia Cloud Computing market is witnessed to grow at faster rate over the forecast period. There are several government initiatives, which include the Saudi Vision 2030, Cloud First Policy, among others which is supporting the cloud adoption.

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Market Dynamic

Key Drivers and Emerging Trends

Growing digitalization has shifted the focus of government towards implementing the cloud services. Saudi Vision 2030 has encouraged foreign investment particularly in the technology sector. Moreover, the implementation of cloud first policy has accelerated the digital transformation by pushing the adoption of leading edge technologies, which includes Artificial Intelligence, 4th Industrial Revolution Technologies, among others.

Growing implementation of cloud computing across different industries is surging the demand for cloud computing in the country. The Saudi Arabian Monetary Authority is working with local banks and other stakeholders to implement an integrated payment strategy, which aims to increase electronic transactions to around 30% of total transactions by 2021. Cloud service provider companies are rapidly increasing their offerings in the Kingdom of Saudi Arabia. For instance, in 2020, Saudi Aramco Development Co., a subsidiary of Aramco, has collaborated with Google Cloud to offer cloud services to customers in Saudi Arabia. This is expected to encourage various industries to implement cloud services.

Restraint in the Saudi Arabia Cloud Computing Market

There are various security issues involved with cloud computing, which can place data in danger and make it vulnerable to attacks. The danger of cyber criminals entry increases with the increase in the number of people and devices having access to the cloud.

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Service Model – Segment Analysis

Based on service model, Software as a service (SaaS) dominated the market and is expected to retain its market position during the forecast period. The overall growth of the SaaS will continue to remain consistent during the forecast period as more companies continue to adopt SaaS solutions for different business functions such as customer relationship management (CRP), ERP, Marketing Automation, Financial Accounting, Project Management, Business Intelligence among others. Some of the key players operating in the enterprise SaaS market include Microsoft, Salesforce, Adobe, SAP, IBM among others. The demand for subscription-based pricing model further encouraged such companies to rapidly migrate their software solution to a SaaS model.

Deployment Model – Segment Analysis

Based on the deployment model, the hybrid cloud segment is expected to witness a faster growth during the forecast period. One of the major factors helping the growth hybrid cloud market is that it provides businesses with wider flexibility by shifting workloads between cloud solutions as needs and costs fluctuate. Hybrid cloud is a service offering that combines a private cloud with one or more public cloud services with proprietary software enabling communication between each distinct service. Hybrid cloud services provides businesses with better control over their data. For instance, an organization can store their sensitive data on private cloud and simultaneously leverage the wider computational resources of a managed public cloud.

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Key Developments:

• • In 2020, Oracle announced the general availability of its Cloud Region in Saudi Arabia. This aims to provide partners and customers with access to all Oracle Cloud Services, which include Oracle Autonomous Database and Oracle Autonomous Linux, along with Oracle Cloud Applications to unlock innovation and drive the business growth.
  • In 2020, Alibaba Cloud announced its collaboration with the state-owned Saudi Telecom Company (STC) to provide high-performance public cloud services in the Kingdom. This collaboration is a significant milestone for STC to contribute to the Saudi Arabia’s Vision 2030 by introducing a trusted cloud service partner.

Segments covered in the Report:

The Saudi Arabia Cloud Computing market is segmented into service model, deployment model, organization size, workload and industry vertical. Based on the service model, the market has been segmented into Infrastructure as a Service, Platform as a Service, Software as a Service. Based on the deployment model, the market has been segmented into Public Cloud, Private Cloud and Hybrid Cloud. Based on the organization size, the market has been segmented into Small and Medium Enterprises and Large Enterprises. Based on the workload, the market has been segmented into Storage, Backup, and Disaster Recovery, Application Development and Testing, Database Management, Business Analytics, Integration and Orchestration, Enterprise Resource Management, Collaboration and Content Management. Based on industry vertical, the market has been segmented into Manufacturing, Healthcare and Life Sciences, IT & Telecom, Retail and Consumer Goods, Energy and Utilities, Media and Entertainment, BFSI, Government and Public Sector.

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Key questions answered in this research report:

• • At what pace is Saudi Arabia Cloud Computing market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Saudi Arabia Cloud Computing market? What will be the impact of drivers and restraints in the future?
  • Which deployment type generated maximum revenues in 2019 and identify the most promising deployment type during the forecast period?
  • What workload segment in leading in Saudi Arabia Cloud Computing market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Saudi Arabia Cloud Computing Market by Service Model

• • Infrastructure as a Service
  • Platform as a Service
  • Software as a Service

Saudi Arabia Cloud Computing Market by Deployment Model

• • Public Cloud
  • Private Cloud
  • Hybrid Cloud

Saudi Arabia Cloud Computing Market by Organisation Size

• • Small and Medium Enterprises
  • Large Enterprises

Saudi Arabia Cloud Computing Market 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

Saudi Arabia Cloud Computing Market by Industry Vertical

• • Manufacturing
  • Healthcare and Life Sciences
  • IT & Telecom
  • Retail and Consumer Goods
  • Energy and Utilities
  • Media and Entertainment
  • BFSI
  • Government and Public Sector
  • Others