Public Cloud - Benin

Benin

Revenue in the Public Cloud market is projected to reach US$49.46m in 2024.
Infrastructure as a Service dominates the market with a projected market volume of US$17.13m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 22.15%, resulting in a market volume of US$134.50m 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 Benin is experiencing significant growth, driven by the increasing adoption of digital technologies and rising awareness of the benefits of online services. The convenience and cost-effectiveness of Infrastructure, Platform, Software, Business Process, Desktop, and Disaster Recovery as a Service are contributing to the substantial growth rate of the market. Factors such as government support and improving internet connectivity are also impacting this growth rate.

Customer preferences: With the growing adoption of digital technologies in Benin, there is a rising demand for public cloud solutions among businesses and organizations. This trend is driven by the need for efficient and cost-effective data storage, processing, and collaboration tools. In addition, the availability of reliable internet connectivity and the increasing use of mobile devices have also contributed to the growth of the public cloud market. This shift towards cloud-based solutions is expected to continue as businesses seek to streamline their operations and increase their agility in a rapidly changing market.

Trends in the market: In Benin, the Public Cloud Market is experiencing a surge in demand for cloud-based solutions, especially in the government and education sectors. This trend is driven by the need for cost-effective and scalable IT infrastructure, as well as the push for digital transformation in these industries. Additionally, there is a growing adoption of Software-as-a-Service (SaaS) in the country, with businesses and organizations opting for cloud-based software solutions for their operations. This trend is expected to continue on an upward trajectory, with potential implications for industry stakeholders, such as increased competition in the market and a shift towards subscription-based models. It also presents opportunities for cloud service providers to expand their offerings and cater to the specific needs of the Beninese market.

Local special circumstances: In Benin, the Public Cloud Market is influenced by the country's geographical and cultural factors. With limited internet infrastructure and low technology adoption rates, the market is still in its nascent stage. However, with the government's efforts to improve digital literacy and the rise of local startups providing cloud services tailored to the needs of small and medium enterprises, the market is expected to witness significant growth. Additionally, the country's regulatory environment, with favorable policies for foreign investment, is attracting global players to enter the market and contribute to its development.

Underlying macroeconomic factors: The Public Cloud Market in Benin is heavily influenced by macroeconomic factors such as government support for digital transformation, investments in ICT infrastructure, and the country's overall economic growth. Benin's government has implemented policies to promote the adoption of cloud technology in both the public and private sectors, driving the demand for public cloud services. Furthermore, the country's growing economy and rising digital literacy rates are expected to contribute to the market's growth, as more businesses and individuals look to leverage the benefits of public cloud services. Additionally, the increasing adoption of smart devices and internet connectivity is creating a favorable environment for the growth of the public cloud market in Benin.

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.