Public Cloud - Benelux

  • Benelux
  • Revenue in the Public Cloud market is projected to reach US$16.51bn in 2024.
  • Software as a Service dominates the market with a projected market volume of US$8.10bn in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 17.14%, resulting in a market volume of US$36.42bn 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

 
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Analyst Opinion

The Public Cloud market in Benelux is rapidly growing, driven by the increasing adoption of digital technologies, rising awareness about cloud services, and the convenience offered by online solutions. The average growth rate reflects the impact of factors such as the availability of various sub-markets and the demand for Infrastructure, Platform, Software, Business Process, Desktop, and Disaster Recovery as a Service.

Customer preferences:
Consumers in the Benelux region are increasingly adopting public cloud solutions to streamline business processes and enhance efficiency. This trend is driven by the growing reliance on digital technologies and the need for remote collaboration and data access. Additionally, the rise of remote work due to the COVID-19 pandemic has further accelerated the adoption of public cloud services. This has led to a shift towards virtual communication and collaboration tools, as well as a greater focus on cloud security and data protection.

Trends in the market:
In the Benelux countries, the Public Cloud Market is experiencing a surge in demand for hybrid cloud solutions, with companies seeking the flexibility and cost-saving benefits of combining public and private cloud services. Additionally, there is a growing trend of leveraging cloud-based artificial intelligence and machine learning tools for data analysis and business decision-making. These developments are significant for industry stakeholders, as they offer opportunities for cost optimization, improved efficiency, and enhanced innovation. However, they also bring challenges in terms of data privacy and security, requiring companies to carefully manage their cloud strategy and partnerships.

Local special circumstances:
In Benelux, the Public Cloud market is thriving due to the high level of digitalization and tech-savvy population. The region's favorable regulatory environment and strong data privacy laws have also attracted many international cloud providers. Additionally, the demand for cloud services is driven by the region's strong economic growth and the increasing demand for data storage and management solutions. In Belgium, the market is further boosted by the government's initiatives to promote digital transformation, while in the Netherlands, the growing e-commerce industry and the need for agile and scalable IT infrastructure are key drivers.

Underlying macroeconomic factors:
The Public Cloud marketin the Benelux region is expected to experience significant growth due to favorable macroeconomic factors. The region's strong economic health, with all three countries ranking in the top 20 globally in terms of GDP per capita, provides a stable foundation for market growth. Additionally, the Benelux region has been at the forefront of digital transformation, with initiatives such as the Digital Benelux Action Plan promoting the adoption of advanced technologies like cloud computing. This, coupled with supportive regulatory environments and government investment in digital infrastructure, is driving the demand for public cloud services in the region. Furthermore, the region's central location and well-developed logistics infrastructure make it an ideal location for data centers, attracting major cloud service providers to establish a presence in the Benelux market. These factors are expected to continue fueling the growth of the public cloud market in the Benelux region.

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.

Overview

  • Revenue
  • Key Players
  • Analyst Opinion
  • Global Comparison
  • Methodology
  • Key Market Indicators
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