Public Cloud - Armenia

Armenia

Revenue in the Public Cloud market is projected to reach US$118.00m in 2024.
Software as a Service dominates the market with a projected market volume of US$50.61m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 21.35%, resulting in a market volume of US$310.50m by 2029.
The average spend per employee in the Public Cloud market is projected to reach US$85.17 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).

For more information on the data displayed, use the info button right next to the boxes.

Market

Region

Region comparison

Currency

Analyst Opinion

The public cloud market in Armenia has been rapidly expanding, driven by factors such as increasing demand for Infrastructure, Platform, Software, Business Process, and Desktop as a Service options, as well as the country's considerable growth rate. These factors are influenced by the growing adoption of digital technologies and a rising awareness of the benefits of online services in the healthcare industry.

Customer preferences: As Armenia continues to embrace digital transformation, there has been a noticeable increase in demand for public cloud solutions. This can be attributed to the growing preference for remote work and collaboration, as well as the need for flexible and scalable IT infrastructure. Furthermore, the rise of e-commerce and online services in the country has also driven the adoption of public cloud services, as businesses seek to streamline their operations and reach a wider customer base.

Trends in the market: In Armenia, the Public Cloud Market is experiencing a surge in demand for cloud-based services, with businesses and government entities increasingly adopting cloud solutions for data storage, communication, and collaboration. This trend is expected to continue as more organizations recognize the cost savings, scalability, and flexibility offered by the public cloud. Additionally, the recent launch of the country's first national data center is a significant step towards promoting the use of cloud services in Armenia. This development is expected to attract more foreign investments and drive the growth of the public cloud market in the country. With the increasing adoption of cloud solutions, there is also a growing need for skilled professionals to manage and secure these services. This presents an opportunity for training and education providers to offer specialized courses in cloud computing, further fueling the growth of the industry.

Local special circumstances: In Armenia, the Public Cloud Market is rapidly growing due to the government's efforts to promote digital transformation and attract foreign investments. The country's strategic location at the crossroads of Europe and Asia, along with its highly skilled IT workforce, make it an attractive destination for cloud service providers. Additionally, the country's favorable business climate and competitive pricing for cloud services have contributed to the market's growth. However, the lack of data protection laws and internet infrastructure remain key challenges for the market's further expansion.

Underlying macroeconomic factors: The Public Cloud Market in Armenia is heavily influenced by macroeconomic factors such as the country's economic stability, government policies, and investments in technology infrastructure. With a growing economy and favorable government regulations, Armenia is experiencing a rapid adoption of public cloud services. Additionally, the increasing digitization of businesses and the need for cost-effective and scalable solutions are driving the demand for public cloud services in the country. Furthermore, the government's focus on promoting digital transformation and investment in technology education is expected to further boost the growth of the Public Cloud Market in Armenia.

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.