Public Cloud

Canada

Highlights

Revenue in the Public Cloud market is projected to reach US$16.21bn in 2024.
Software as a Service dominates the market with a projected market volume of US$8.41bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 18.69%, resulting in a market volume of US$38.17bn by 2029.
In global comparison, most revenue will be generated United States (US$388.50bn in 2024).

Key regions:

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 definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Public Cloud Market in Canada is experiencing steady growth, driven by factors such as increasing adoption of digital technologies, growing awareness of the benefits of online services, and the convenience of cloud solutions. The market's overall average growth rate is influenced by the demand for various sub-markets, including Infrastructure as a Service, Platform as a Service, and Software as a Service. Other contributing factors to the market's growth rate include the rising need for Business Process as a Service, Desktop as a Service, and Disaster Recovery as a Service.

Customer preferences: With the increasing reliance on remote work and digital communication, businesses in Canada are turning to public cloud services for their storage and computing needs. This shift is driven by the demand for flexible and scalable solutions that can adapt to changing business requirements. Additionally, the growing adoption of cloud-based collaboration tools is fueled by the need for efficient communication and collaboration among teams, especially in a remote work environment.

Trends in the market: In Canada, the Public Cloud Market is experiencing a surge in demand for cloud-based solutions, with businesses increasingly adopting these services to improve efficiency and reduce costs. This trend is expected to continue as organizations prioritize digital transformation and remote work capabilities. Furthermore, the growing availability of advanced cloud technologies such as AI and IoT is driving innovation and creating new opportunities for businesses. As a result, stakeholders in the industry, including cloud providers, businesses, and consumers, can expect to see continued growth and evolution in the Public Cloud Market in Canada.

Local special circumstances: In Canada, the Public Cloud market is flourishing due to the country's advanced IT infrastructure and high internet penetration rates. The government's strong emphasis on data privacy and security has created a favorable environment for cloud adoption, with strict regulatory requirements for data storage and management. Additionally, Canada's diverse population and multicultural business landscape have resulted in a demand for localized cloud solutions tailored to specific industries and regions. This has led to the growth of niche cloud providers catering to unique local needs, such as bilingual support and compliance with industry-specific regulations.

Underlying macroeconomic factors: The Public Cloud Market in Canada is heavily influenced by macroeconomic factors such as national economic health, global economic trends, fiscal policies, and other financial indicators. The Canadian government's strong support and investments in digital infrastructure and technology have contributed to the growth of the Public Cloud Market. Additionally, Canada's stable economic environment and favorable regulatory policies have attracted major players in the market, leading to further growth. The increasing demand for cost-effective and scalable cloud solutions, along with the growing awareness about the benefits of cloud computing, are also driving the growth of the Public Cloud Market in Canada.

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.