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$521.30m 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.
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

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Analyst Opinion

The Public Cloud Market in Colombia is experiencing significant growth, driven by factors such as increasing adoption of digital technologies, rising awareness of the benefits of online services, and the convenience offered by cloud solutions. The market's average growth rate is impacted by the increasing demand for Infrastructure, Platform, Software, Business Process, Desktop, and Disaster Recovery as a Service. This growth is also influenced by the country's shift towards digitalization and the government's efforts to promote cloud adoption.

Customer preferences: As Colombian businesses and organizations continue to adopt public cloud solutions, there is a growing trend towards prioritizing security and compliance measures. This is due to the country's strict data protection laws and increasing concerns about cyber threats. As a result, cloud service providers are offering more robust security features and compliance certifications to meet the demands of this market. Additionally, there is a growing preference for hybrid cloud solutions, allowing organizations to balance cost savings and flexibility with greater control over sensitive data.

Trends in the market: In Colombia, the Public Cloud Market is experiencing a surge in demand for cloud services, driven by the increasing adoption of digital transformation strategies by businesses. This trend is expected to continue as companies strive to improve efficiency, reduce costs, and access advanced technologies. Additionally, the government's push for digitalization and the rise of e-commerce are also contributing to the growth of the market. Industry stakeholders should take note of these trends and invest in expanding their cloud offerings to meet the evolving needs of businesses in Colombia. Failure to do so may result in losing out on a significant market opportunity in a country with a rapidly growing digital landscape.

Local special circumstances: In Colombia, the Public Cloud Market is on the rise due to the country's growing adoption of digital technologies and the government's efforts to promote a tech-friendly environment. The market is also influenced by the country's diverse geography, which presents unique challenges and opportunities for cloud providers. Additionally, Colombia's cultural emphasis on entrepreneurship and innovation has led to a strong demand for cloud-based solutions among small and medium-sized businesses. Furthermore, the country's regulatory framework, which includes data privacy laws and tax incentives for technology investments, plays a significant role in shaping the growth of the Public Cloud Market in Colombia.

Underlying macroeconomic factors: The Public Cloud Market in Colombia is heavily impacted by macroeconomic factors such as technological advancements, government policies, and overall economic stability. As the global demand for cloud services continues to increase, Colombia's growing economy and favorable regulatory environment have allowed for a significant expansion in the market. Furthermore, increased investment in digital infrastructure and the rise of remote work due to the COVID-19 pandemic have also contributed to the growth of the Public Cloud Market in the country. With a strong emphasis on digital transformation and innovation, Colombia is poised to experience continued growth in the Public Cloud Market 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.