Public Cloud - Bulgaria

Bulgaria

Revenue in the Public Cloud market is projected to reach US$328.10m in 2024.
Software as a Service dominates the market with a projected market volume of US$135.00m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 19.32%, resulting in a market volume of US$793.40m 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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Market

Region

Region comparison

Currency

Analyst Opinion

The Public Cloud market in Bulgaria is experiencing considerable growth, driven by factors such as increasing adoption of digital technologies, rising awareness of cost-effective and scalable cloud solutions, and the convenience of online cloud services. This growth rate is impacted by the various sub-markets within the Public Cloud, including Infrastructure, Platform, Software, Business Process, Desktop, and Disaster Recovery as a Service.

Customer preferences: As the Bulgarian market continues to embrace digital transformation, there is a growing demand for public cloud solutions. This can be attributed to the country's increasing reliance on digital technologies for communication, education, and business operations. Additionally, there has been a notable shift towards remote work and virtual collaboration, driving the need for flexible and scalable cloud services. This trend is expected to continue in the coming years, as Bulgaria's digital landscape continues to evolve.

Trends in the market: In Bulgaria, the Public Cloud Market is experiencing a surge in demand, driven by the increasing adoption of digital transformation initiatives by businesses. This trend is expected to continue as more companies embrace the benefits of cloud computing, such as cost savings, scalability, and agility. As a result, there is a growing demand for cloud services, including Infrastructure as a Service (IaaS), Platform as a Service (PaaS), and Software as a Service (SaaS). This trend has significant implications for industry stakeholders, as it presents opportunities for cloud service providers to expand their offerings and for businesses to enhance their operations and competitiveness. Additionally, the growing trend towards remote work and digitalization due to the COVID-19 pandemic has further accelerated the adoption of public cloud services in Bulgaria, making it a key market for cloud providers to target.

Local special circumstances: In Bulgaria, the Public Cloud Market is experiencing rapid growth due to the country's strategic location and favorable business environment. The government has implemented policies to encourage the adoption of cloud services, leading to increased demand from both local and multinational companies. Additionally, Bulgaria's highly skilled workforce, cost-effective labor, and competitive tax incentives make it an attractive market for cloud providers. Furthermore, the country's cultural shift towards digitalization and its increasing use of e-commerce have also contributed to the growth of the Public Cloud Market in Bulgaria.

Underlying macroeconomic factors: The Public Cloud Market in Bulgaria is heavily influenced by macroeconomic factors such as the country's economic stability, government policies, and investments in technology infrastructure. With the global trend towards digital transformation and the increasing demand for cloud services, Bulgaria's favorable business environment and supportive government policies have contributed to the growth of the Public Cloud Market. Additionally, the country's strategic location and lower labor costs have made it an attractive destination for foreign investments, further driving the growth of the Public Cloud Market.

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.