Public Cloud - Albania

Albania

Revenue in the Public Cloud market is projected to reach US$50.21m in 2024.
Software as a Service dominates the market with a projected market volume of US$21.52m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 19.39%, resulting in a market volume of US$121.80m by 2029.
The average spend per employee in the Public Cloud market is projected to reach US$36.32 in 2024.
In global comparison, most revenue will be generated in the United States (US$388.50bn in 2024).

Key regions: United States, Germany, China, Japan, United Kingdom

Definition:

A public cloud is defined as the digital infrastructure and computing resources that are managed by a service provider. Examples of public cloud computing resources include virtual machines, storage, and services, all of which are available for purchase with flexible (e.g., pay as you go and subscription) business models. Such payment options make it possible for customers to access, scale, and utilize resources as needed. Public cloud solutions make it possible for users to save on IT costs, increase their efficiency, and take advantage of advanced technologies without having to invest in long-term IT solutions. Public cloud service providers own and maintain the physical infrastructure, hardware, and software. Users only need to pay for the computing resources that they require. The Public Cloud market refers to the companies that provide these cloud computing resources and services to individuals, businesses, and organizations.

Structure:

The Public Cloud market is structured into five markets based on the type of service models provided by the companies.

The Infrastructure as a Service (IaaS) market covers the resources and services related to the data center infrastructure.
The Platform as a Service (PaaS) market covers the resources and services related to the virtual environments used for software development.
The Software as a Service market (SaaS) market covers the resources and services related to software applications that can be accessed via a web browser.
The Business Process as a Service (BPaaS) market covers the resources and services related to the various business processes such as finance and accounting, human resources, customer service, and supply chain management, all delivered through the cloud.
The Desktop as a Service (DaaS) market covers the resources and services related to virtual desktop environments, which are accessible from any device with an internet connection.

Additional Information:

The public cloud market comprises revenue, revenue change, average spend per employee, and key player market shares as key performance indicators. Only revenues that are generated by primary vendors at the manufacturer price level either directly or through distribution channels (excluding value-added tax) are included, and revenues generated by resellers are excluded. Revenues are generated through both online and offline sales channels and include spending by consumers (B2C), enterprises (B2B) as well as governments (B2G). Detailed definitions of each market can be found on the respective page where the market data is displayed.

Key players of the public cloud market include companies such as Amazon (Amazon web services), Microsoft (Azure), Google (Cloud), and IBM (Cloud).

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Market

Region

Region comparison

Currency

Analyst Opinion

The Public Cloud market in Albania is experiencing considerable growth, driven by factors such as increasing adoption of digital technologies, rising awareness of the benefits of cloud services, and the convenience of online services. This growth can be attributed to the various sub-markets, each offering unique solutions to businesses and individuals. Factors such as cost-effectiveness, scalability, and flexibility are impacting the growth rate of the market in Albania.

Customer preferences: Consumers in Albania are increasingly adopting public cloud solutions for their businesses, driven by the growing need for remote work and collaboration tools. This trend is also influenced by the country's young and tech-savvy population, who are accustomed to using digital platforms for communication and productivity. Additionally, the rise of e-commerce and online banking has led to a higher demand for secure and reliable cloud storage and processing services. These factors are expected to continue driving the growth of the public cloud market in Albania.

Trends in the market: In Albania, the Public Cloud Market is experiencing a surge in demand, with businesses and organizations increasingly adopting cloud-based solutions for data storage, communication, and collaboration. This trend is expected to continue as companies realize the cost-effectiveness and scalability of public cloud services. Additionally, the government's efforts to improve internet infrastructure and promote digitalization are further driving the growth of the market. This trajectory indicates a shift towards a more digital and connected economy in Albania, with implications for industry stakeholders such as cloud service providers, IT companies, and businesses looking to streamline their operations through cloud technologies.

Local special circumstances: In Albania, the Public Cloud Market is experiencing significant growth due to the country's increasing adoption of digital technologies and the government's support for digital transformation. The market is also influenced by the country's geographical location, which allows for easy access to neighboring European markets. Additionally, Albania's unique cultural landscape, with a young and tech-savvy population, has created a demand for cloud-based solutions in various industries. The regulatory environment, with favorable policies and incentives for digital innovation, further drives the growth of the Public Cloud Market in Albania.

Underlying macroeconomic factors: The Public Cloud Market in Albania is impacted by a variety of macroeconomic factors, including the country's overall economic health, government fiscal policies, and global economic trends. As the country continues to develop and modernize, there is an increasing demand for cloud-based solutions to improve efficiency and productivity in various industries. Additionally, the government's efforts to improve digital infrastructure and promote technological advancements also play a role in driving the growth of the public cloud market in Albania. However, challenges such as limited internet connectivity and cybersecurity concerns may hinder market growth in the country. Overall, the market is expected to see steady growth in the coming years, driven by the increasing adoption of cloud computing technologies and the country's efforts towards digital transformation.

Methodology

Data coverage:

The data encompasses B2B, B2G, and B2C enterprises. Figures are based on the money spent at manufacturer price level (excluding VAT).

Modeling approach / Market size:

Market sizes are determined through a top-down approach with a bottom-up validation, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and reports from our primary research. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP and level of telecommunications infrastructure. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. The main drivers are the GDP and the level of digitization.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.