Public Cloud - Bangladesh

Bangladesh

Revenue in the Public Cloud market is projected to reach US$933.00m in 2024.
Infrastructure as a Service dominates the market with a projected market volume of US$300.10m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 26.53%, resulting in a market volume of US$3,026.00m by 2029.
The average spend per employee in the Public Cloud market is projected to reach US$11.92 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 Bangladesh is experiencing steady growth, driven by factors such as the increasing adoption of digital technologies, growing awareness of the benefits of online services, and the convenience offered by various cloud solutions. These factors are contributing to the market's average growth rate, with the potential for further expansion in sub-markets such as Infrastructure, Platform, Software, Business Process, and Desktop as a Service.

Customer preferences: The increasing adoption of digital technologies and the rise of remote work in Bangladesh have led to a growing demand for public cloud services. This trend is driven by the need for flexible and cost-effective solutions for data storage, collaboration, and communication. Additionally, the younger generation, who are more tech-savvy and value convenience, are embracing cloud-based applications for various purposes, including entertainment, education, and e-commerce. This shift towards the public cloud market is also fueled by the growing number of small and medium enterprises, who are relying on cloud-based software and platforms to streamline their operations and improve efficiency.

Trends in the market: In Bangladesh, the Public Cloud Market is experiencing a surge in demand for cloud storage and computing services due to the increasing adoption of digital transformation initiatives by both government and private organizations. This trend is expected to continue in the coming years, with the market projected to grow at a CAGR of over 25%. This growth is significant for industry stakeholders as it presents opportunities for expansion and diversification of services. However, it also poses challenges in terms of competition and data security concerns. As such, stakeholders must stay updated on the evolving trends and invest in innovative solutions to stay competitive in this rapidly growing market.

Local special circumstances: In Bangladesh, the Public Cloud Market is experiencing significant growth due to the country's increasing adoption of technology and government initiatives promoting digitalization. The market is also influenced by the unique cultural and geographical factors of the country, such as a large rural population and a growing middle class. This has led to the emergence of cloud-based solutions catering to the specific needs of these segments, such as e-commerce platforms and online education platforms. Additionally, the government's focus on improving internet infrastructure and promoting e-governance has further fueled the growth of the Public Cloud Market in Bangladesh.

Underlying macroeconomic factors: The Public Cloud Market in Bangladesh is heavily influenced by macroeconomic factors such as the country's economic stability, government policies, and technological advancements. With a growing economy and increasing investments in digital infrastructure, Bangladesh is experiencing a significant rise in demand for public cloud services. Additionally, the government's support for digitalization and favorable regulatory environment are creating a conducive market for cloud service providers. The increasing adoption of cloud computing in various industries, along with the rising trend of remote work, is also driving the growth of the Public Cloud Market in Bangladesh.

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.