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.
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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Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Sep 2024
Source: Statista Market Insights
Notes: The chart “Comparable Estimates” shows the forecasted development of the selected market from different sources. Please see the additional information for methodology and publication date.
Most recent update: Jul 2024
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Mar 2024
Sources: Statista Market Insights, Financial Statements of Key Players
The Public Cloud market in Belgium is experiencing average growth, fueled by factors such as increasing adoption of digital technologies, rising awareness of the benefits of online services, and the convenience offered by cloud-based solutions. This growth can also be attributed to the various sub-markets within the Public Cloud, which cater to different business needs. However, factors such as data privacy regulations and security concerns may impact the overall market's growth rate.
Customer preferences: As technology continues to advance, consumers in Belgium are increasingly looking for digital solutions to manage their daily tasks and activities. This trend is also reflected in the Public Cloud Market, where there is a growing demand for cloud-based services to enhance productivity and streamline business operations. This shift towards digitalization is driven by the need for convenience, efficiency, and cost-effectiveness, as well as the growing popularity of remote work. Additionally, the rise of e-commerce and online shopping has also contributed to the growth of the Public Cloud Market in Belgium, as more businesses are turning to online platforms to reach and engage with their customers.
Trends in the market: In Belgium, the Public Cloud Market is experiencing a surge in demand for hybrid cloud solutions, where companies use a mix of private and public cloud services for their IT infrastructure. This trend is driven by the need for more flexibility and scalability in cloud services, as well as the increasing adoption of multi-cloud strategies. Additionally, there is a growing emphasis on data privacy and security, leading to the development of cloud solutions that comply with strict regulations. These trends are significant as they showcase the evolution of the cloud market in Belgium and highlight the importance of a well-integrated and secure IT infrastructure for businesses. Industry stakeholders must stay updated on these developments to remain competitive and meet the changing needs of their customers.
Local special circumstances: In Belgium, the Public Cloud Market is thriving due to the country's advanced digital infrastructure and supportive government policies. Additionally, the country's highly skilled workforce and cultural emphasis on innovation have contributed to the growth of the market. Furthermore, Belgium's strategic location in the heart of Europe and its favorable business environment make it an ideal hub for international cloud service providers. These factors have created a competitive landscape and fostered a culture of continuous technological advancements in the Public Cloud Market in Belgium.
Underlying macroeconomic factors: The Public Cloud Market in Belgium is heavily influenced by macroeconomic factors such as the country's stable economic growth, favorable regulatory environment, and increasing investments in digital infrastructure. As a result, Belgium is experiencing significant growth in the adoption of public cloud solutions, driven by the need for organizations to improve their efficiency, reduce costs, and enhance their digital capabilities. Furthermore, the country's highly skilled workforce and advanced technological infrastructure also contribute to the market's growth, making it an ideal location for businesses to adopt public cloud services.
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Sep 2024
Sources: Statista Market Insights, Financial Statements of Key Players, National statistical offices
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.Notes: Based on data from IMF, World Bank, UN and Eurostat
Most recent update: Sep 2024
Source: Statista Market Insights