Public Cloud - Colombia

Colombia

Revenue in the Public Cloud market is projected to reach US$1,717.00m in 2024.
Infrastructure as a Service dominates the market with a projected market volume of US$537.70m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 18.95%, resulting in a market volume of US$4,089.00m by 2029.
The average spend per employee in the Public Cloud market is projected to reach US$65.98 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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Market

Region

Region comparison

Currency

Analyst Opinion

The Public Cloud market in Colombia is experiencing significant growth and development, driven by customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in Colombia are shifting towards cloud-based solutions due to their numerous benefits. Businesses are increasingly adopting Public Cloud services to streamline their operations, reduce costs, and improve scalability. The flexibility and scalability of Public Cloud solutions allow businesses to easily adjust their resources according to their needs, making it an attractive option for companies of all sizes. Additionally, the ability to access data and applications from anywhere at any time is highly valued by Colombian businesses, as it enables remote work and enhances productivity. Trends in the market further contribute to the growth of the Public Cloud market in Colombia. One significant trend is the increasing adoption of Software-as-a-Service (SaaS) solutions. SaaS allows businesses to access and use software applications through the internet, eliminating the need for costly infrastructure and maintenance. This trend is driven by the growing demand for specialized software solutions and the desire to reduce IT complexity. Another trend is the rising popularity of hybrid cloud solutions, which combine the benefits of both Public and Private Clouds. Colombian businesses are leveraging hybrid cloud environments to optimize their IT infrastructure, ensuring a balance between security, control, and cost-efficiency. Local special circumstances also play a role in the development of the Public Cloud market in Colombia. The country's rapidly expanding digital economy and increasing internet penetration rate provide a fertile ground for cloud adoption. The Colombian government has also recognized the importance of cloud technology and has implemented initiatives to promote its adoption. These initiatives include the development of data protection regulations and the establishment of public-private partnerships to support the growth of the cloud industry. Underlying macroeconomic factors contribute to the growth and development of the Public Cloud market in Colombia. The country's stable economic growth, favorable investment climate, and strong IT infrastructure create a conducive environment for cloud adoption. Additionally, the increasing digital transformation efforts in various industries, such as finance, healthcare, and retail, are driving the demand for cloud-based solutions. The COVID-19 pandemic has further accelerated the adoption of cloud technology as businesses seek to adapt to remote work and digitalization. Overall, the Public Cloud market in Colombia is experiencing significant growth and development due to customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. The shift towards cloud-based solutions, the adoption of SaaS and hybrid cloud models, the supportive government initiatives, and the country's favorable economic conditions all contribute to the positive trajectory of the market. As businesses in Colombia continue to embrace digital transformation, the Public Cloud market is expected to further expand in the coming years.

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.