Public Cloud - Bangladesh

Bangladesh

In Bangladesh, revenue in the Public Cloud market is projected to reach US$933.00m in 2024.
Infrastructure as a Service is expected to dominate the market in Bangladesh with a projected market volume of US$280.70m in 2024.
Revenue in Bangladesh is anticipated to show an annual growth rate (CAGR 2024-2029) of 26.53%, resulting in a market volume of US$3,026.00m by 2029.
In a global comparison, the largest revenue generation will occur the United States, which is projected to reach US$388.50bn in 2024.
In Bangladesh, the public cloud market is rapidly evolving as businesses increasingly adopt digital solutions to enhance operational efficiency and drive innovation.

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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Analyst Opinion

The Public Cloud market in Bangladesh is experiencing steady growth due to increasing adoption of digital technologies, rising awareness of the benefits of online services, and the convenience offered by Public Cloud solutions. This growth is supported by the various sub-markets within the Public Cloud industry, each catering to different business needs. However, the average growth rate of the market is impacted by factors such as limited internet access and concerns over data security.

Customer preferences: As digitalization continues to rapidly expand in Bangladesh, consumer preferences are shifting towards cloud-based solutions for data storage and management. This trend is driven by the growing need for remote access and collaboration, as well as the convenience and cost-effectiveness of using public cloud services. With an increasing number of businesses and individuals adopting cloud-based solutions, the public cloud market in Bangladesh is expected to experience significant growth in the coming years.

Trends in the market: In Bangladesh, the Public Cloud market is experiencing a surge in adoption as more businesses and organizations recognize the benefits of this technology. This trend is expected to continue as cloud service providers offer more advanced and cost-effective solutions. The significance of this trend lies in its potential to revolutionize the way businesses operate, increasing efficiency and reducing costs. It also opens up opportunities for small and medium-sized enterprises to access advanced computing capabilities. However, this growth also brings challenges such as data security and privacy concerns, which will need to be addressed by industry stakeholders. Overall, the trajectory of this trend points towards a more digitally connected and competitive business landscape in Bangladesh.

Local special circumstances: In Bangladesh, the Public Cloud Market is experiencing growth due to the country's rapid economic development and increasing adoption of digital technologies. The government's focus on creating a digital economy and promoting e-commerce has also contributed to the market's growth. Additionally, the country's large population and young demographic make it an attractive market for cloud service providers. However, challenges such as limited internet access and infrastructure development may hinder the market's potential. Furthermore, cultural factors such as a preference for localized services and language barriers also play a role in shaping the market.

Underlying macroeconomic factors: The Public Cloud Market in Bangladesh is heavily influenced by macroeconomic factors such as government policies, technological advancements, and investment in digital infrastructure. With the increasing adoption of digital technologies across all industries, the demand for public cloud services is on the rise. Furthermore, the country's strong economic growth, stable political environment, and favorable regulatory policies have attracted significant investments in the public cloud market. This, coupled with the growing awareness of the benefits of cloud computing, is expected to drive the market growth in Bangladesh. Additionally, the increasing need for cost-effective and scalable IT solutions in the country's rapidly expanding business landscape is also contributing to the growth of the public cloud market.

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.