Public Cloud - Belarus

Belarus

Revenue in the Public Cloud market is projected to reach US$359.50m in 2024.
Software as a Service dominates the market with a projected market volume of US$176.50m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 16.47%, resulting in a market volume of US$770.60m by 2029.
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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Analyst Opinion

The Public Cloud market in Belarus is experiencing moderate growth, influenced by factors such as the increasing demand for digital solutions, growing awareness of the benefits of cloud services, and the convenience of online access. The sub-markets of Infrastructure, Platform, Software, Business Process, Desktop, and Disaster Recovery all play a role in driving the overall market. However, the subdued growth rate could be attributed to factors such as limited infrastructure and concerns about data security in the country.

Customer preferences: The Belarusian market for public cloud services is experiencing a growing preference for customized and scalable solutions, driven by the country's rapidly developing tech sector. Additionally, there has been a shift towards cloud-based collaboration tools and remote work solutions, reflecting the changing lifestyle and work patterns of the younger generation. This trend is also influenced by the growing demand for online education and e-learning, as well as the need for secure and efficient data storage solutions in the digital age.

Trends in the market: In Belarus, the public cloud market is experiencing a surge in adoption as more businesses shift towards digital transformation. This is driven by the increasing availability and affordability of internet services, as well as the government's efforts to promote IT development. Additionally, there is a growing trend of using cloud-based solutions for data storage, software development, and collaboration. This trajectory is significant as it enables companies to scale and innovate more efficiently, and reduces IT infrastructure costs. However, it may also lead to concerns about data security and privacy, requiring industry stakeholders to prioritize cybersecurity measures.

Local special circumstances: In Belarus, the Public Cloud Market is rapidly growing due to the country's strategic location between Europe and Asia, making it an attractive hub for international businesses. Additionally, the government's initiatives to promote digital transformation and the country's highly skilled IT workforce have contributed to the market's growth. The unique geographical and cultural influences of Belarus have also led to the adoption of cloud solutions by local businesses, particularly in the e-commerce and fintech sectors. Furthermore, the country's favorable regulatory environment for data protection and privacy has boosted the confidence of both domestic and foreign businesses in using public cloud services.

Underlying macroeconomic factors: The Public Cloud Market in Belarus is heavily impacted by macroeconomic factors such as government policies, technological advancements, and investments in digital infrastructure. With a rapidly developing economy and increasing government initiatives to promote digitalization, the demand for cloud-based solutions is expected to rise. Moreover, the country's strategic location and favorable business environment make it an attractive destination for global cloud service providers. However, limited internet penetration and cybersecurity concerns may hinder market growth in the short term. Additionally, the growing trend of remote working and the need for cost-effective solutions are also driving the adoption of public cloud services in the country.

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.