Public Cloud - Bosnia and Herzegovina

Bosnia and Herzegovina

Revenue in the Public Cloud market is projected to reach US$127.80m in 2024.
Software as a Service dominates the market with a projected market volume of US$57.73m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 19.45%, resulting in a market volume of US$310.80m by 2029.
The average spend per employee in the Public Cloud market is projected to reach US$93.08 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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Analyst Opinion

The Public Cloud market in Bosnia and Herzegovina is experiencing steady growth, driven by factors such as the increasing adoption of digital technologies, rising awareness about the benefits of online services, and the convenience they offer. The average growth rate of the market is influenced by factors such as the availability of reliable infrastructure and the demand for various sub-markets, including Infrastructure as a Service, Platform as a Service, and Software as a Service.

Customer preferences: An emerging trend in the Public Cloud Market market in Bosnia and Herzegovina is the increasing adoption of cloud-based solutions for business operations. With a growing number of businesses embracing digital transformation, there is a rising demand for cloud services to improve efficiency and reduce costs. This trend is driven by the need for remote access and collaboration, especially in light of the recent shift to remote work due to the COVID-19 pandemic. Additionally, the ease of scalability and flexibility offered by public cloud solutions is attracting more businesses to make the switch.

Trends in the market: In Bosnia and Herzegovina, the Public Cloud Market is experiencing a significant growth in the demand for cloud-based services. This trend is driven by the increasing adoption of digital transformation strategies by businesses and organizations across various industries. As a result, there is a growing need for secure and scalable cloud solutions to support the storage and management of large amounts of data. This trend is expected to continue in the coming years, with the potential to transform the traditional IT landscape in the country. Industry stakeholders must adapt to these changes and invest in innovative cloud offerings to stay competitive and meet the evolving needs of their customers.

Local special circumstances: In Bosnia and Herzegovina, the Public Cloud Market is influenced by the country's unique geographical and cultural factors. The market is still in its early stages of development, with limited internet and mobile penetration. However, the government's efforts to modernize the country's infrastructure and increase digital literacy are driving the growth of the Public Cloud Market. Additionally, the country's strict data protection laws and regulations are also shaping the market, as businesses are required to comply with stringent privacy policies.

Underlying macroeconomic factors: The Public Cloud Market in Bosnia and Herzegovina is influenced by macroeconomic factors such as technological advancements, government policies, and investment in digital infrastructure. Countries with favorable regulatory environments and strong investment in cloud technologies are experiencing faster market growth compared to regions with regulatory challenges and limited funding. Additionally, the growing demand for efficient and cost-effective data storage solutions is 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.