Public Cloud - ASEAN

ASEAN

Revenue in the Public Cloud market is projected to reach US$16.39bn in 2024.
Infrastructure as a Service dominates the market with a projected market volume of US$5.63bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 20.02%, resulting in a market volume of US$40.81bn by 2029.
The average spend per employee in the Public Cloud market is projected to reach US$47.25 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 ASEAN is experiencing significant growth and development.

Customer preferences: Customers in ASEAN are increasingly adopting public cloud services due to several factors. Firstly, the scalability and flexibility offered by public cloud solutions allow businesses to easily adjust their IT infrastructure to meet changing demands. Secondly, the cost-effectiveness of public cloud services is appealing to organizations in ASEAN, as it eliminates the need for upfront investments in hardware and software. Additionally, the ability to access data and applications from anywhere at any time is highly valued by businesses in the region.

Trends in the market: One major trend in the ASEAN public cloud market is the increasing adoption of Software-as-a-Service (SaaS) solutions. Businesses are leveraging SaaS applications to streamline their operations and improve productivity. Another trend is the growing demand for Infrastructure-as-a-Service (IaaS) solutions, as organizations seek to outsource their IT infrastructure to reduce costs and focus on core business activities. Additionally, there is a rising interest in Platform-as-a-Service (PaaS) offerings, which provide developers with a platform to build, test, and deploy applications.

Local special circumstances: ASEAN consists of diverse countries with varying levels of cloud adoption. Singapore, being a regional technology hub, has a mature public cloud market with a high level of adoption. On the other hand, countries like Indonesia and Vietnam are experiencing rapid growth in cloud adoption, driven by the increasing digitalization of businesses and government initiatives to promote cloud adoption. However, challenges such as data sovereignty concerns and limited internet connectivity in some regions can hinder the growth of the public cloud market in ASEAN.

Underlying macroeconomic factors: The growth of the public cloud market in ASEAN can be attributed to several macroeconomic factors. Firstly, the region's strong economic growth and increasing digitalization of businesses are driving the demand for cloud services. Secondly, the ASEAN governments' focus on digital transformation and the development of smart cities is creating opportunities for cloud service providers. Additionally, the increasing number of startups and small and medium-sized enterprises (SMEs) in ASEAN are turning to public cloud solutions to access enterprise-grade technology at affordable prices. In conclusion, the Public Cloud market in ASEAN is witnessing significant growth and development. Customer preferences for scalability, cost-effectiveness, and accessibility are driving the adoption of public cloud services. The market is characterized by the increasing adoption of SaaS, IaaS, and PaaS solutions. Local special circumstances such as varying levels of cloud adoption and infrastructure challenges impact the market dynamics in different ASEAN countries. The underlying macroeconomic factors of strong economic growth, digitalization, government initiatives, and the rise of startups and SMEs contribute to the growth of the public cloud market in ASEAN.

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.