Public Cloud - Belgium

Belgium

Revenue in the Public Cloud market is projected to reach US$4,309.00m in 2024.
Software as a Service dominates the market with a projected market volume of US$2,027.00m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 16.73%, resulting in a market volume of US$9,339.00m by 2029.
The average spend per employee in the Public Cloud market is projected to reach US$795.20 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 Belgium has been experiencing significant growth in recent years, driven by various factors such as customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences: Belgian customers have shown a growing preference for Public Cloud services due to several reasons. Firstly, Public Cloud offers scalability and flexibility, allowing businesses to easily adjust their IT infrastructure to meet changing demands. This is particularly important for small and medium-sized enterprises (SMEs) in Belgium, as they can avoid upfront investments in hardware and software and instead pay for what they use on a subscription basis. Secondly, Public Cloud services provide enhanced data security measures, which is crucial in a time where data breaches and cyber threats are on the rise. Businesses in Belgium are increasingly relying on Public Cloud providers to ensure the safety and privacy of their sensitive information. Lastly, Public Cloud services offer a wide range of applications and tools that can improve productivity and collaboration within organizations, making them an attractive option for businesses in Belgium.

Trends in the market: One of the key trends in the Public Cloud market in Belgium is the adoption of multi-cloud strategies. Businesses are increasingly using multiple Public Cloud providers to diversify their risk and gain access to different features and capabilities offered by different providers. This trend is driven by the desire to avoid vendor lock-in and to have more control over their cloud infrastructure. Another trend is the growing demand for hybrid cloud solutions, which combine Public Cloud services with on-premises infrastructure. This allows businesses to take advantage of the scalability and cost-efficiency of Public Cloud while retaining control over sensitive data and applications. Additionally, there is a rising interest in specialized Public Cloud services, such as those tailored for specific industries or compliance requirements. This reflects the increasing maturity of the market and the recognition that one-size-fits-all solutions may not meet the unique needs of every business in Belgium.

Local special circumstances: Belgium has a highly developed digital infrastructure and a strong focus on data privacy and security. This creates a favorable environment for the growth of the Public Cloud market. The country's central location in Europe also makes it an attractive location for data centers, providing low-latency connections to neighboring countries. Furthermore, Belgium has a large number of SMEs, which are increasingly embracing Public Cloud services to gain a competitive edge. The government of Belgium has also been supportive of the digital transformation and has implemented various initiatives to promote the adoption of cloud technologies among businesses.

Underlying macroeconomic factors: The growth of the Public Cloud market in Belgium is also influenced by underlying macroeconomic factors. The country has a stable and prosperous economy, which encourages businesses to invest in digital technologies to drive innovation and growth. Additionally, the COVID-19 pandemic has accelerated the adoption of cloud technologies, as businesses in Belgium have realized the importance of remote working and digital collaboration. The need for agility and resilience has become more evident, leading to an increased demand for Public Cloud services. In conclusion, the Public Cloud market in Belgium is experiencing significant growth due to customer preferences for scalability, data security, and productivity-enhancing tools. The adoption of multi-cloud and hybrid cloud strategies, as well as the demand for specialized services, are also shaping the market. Belgium's digital infrastructure, focus on data privacy, and supportive government initiatives contribute to the market's growth. Furthermore, underlying macroeconomic factors such as a stable economy and the impact of the COVID-19 pandemic have further accelerated the adoption of Public Cloud services in Belgium.

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.