Public Cloud - Costa Rica

Costa Rica

Revenue in the Public Cloud market is projected to reach US$390.20m in 2024.
Infrastructure as a Service dominates the market with a projected market volume of US$133.60m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 20.47%, resulting in a market volume of US$990.00m by 2029.
The average spend per employee in the Public Cloud market is projected to reach US$150.90 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 Costa Rica has been steadily growing over the past few years, driven by customer preferences, market trends, and local special circumstances. Customer preferences in Costa Rica have shifted towards cloud-based solutions due to the numerous benefits they offer. Businesses in Costa Rica are increasingly recognizing the advantages of using the Public Cloud, such as scalability, flexibility, and cost-effectiveness. By migrating their operations to the cloud, companies can easily scale their infrastructure to meet changing demands, access their data and applications from anywhere, and reduce their IT costs. Additionally, the Public Cloud provides enhanced security measures, ensuring that sensitive data is protected. Trends in the market indicate that the adoption of Public Cloud services in Costa Rica is on the rise. As more businesses realize the benefits of cloud computing, there has been a significant increase in the demand for cloud-based solutions. This trend is driven by the need for digital transformation, as companies seek to modernize their IT infrastructure and leverage emerging technologies such as artificial intelligence and the Internet of Things. Furthermore, the COVID-19 pandemic has accelerated the adoption of cloud services, as businesses look for remote work solutions and reliable data storage options. Local special circumstances have also contributed to the development of the Public Cloud market in Costa Rica. The country has a strong technology ecosystem, with a growing number of startups and tech companies. These organizations are driving innovation and creating a demand for cloud-based solutions to support their operations. Additionally, the government of Costa Rica has been actively promoting the adoption of cloud computing through various initiatives and incentives. This has created a favorable environment for businesses to embrace the Public Cloud and leverage its benefits. Underlying macroeconomic factors have further fueled the growth of the Public Cloud market in Costa Rica. The country has a stable economy and a favorable business environment, attracting foreign investment and fostering the growth of local businesses. Furthermore, Costa Rica has a high internet penetration rate and a tech-savvy population, which creates a conducive environment for the adoption of cloud services. These factors, combined with the increasing demand for digital transformation and the benefits of cloud computing, have contributed to the expansion of the Public Cloud market in Costa Rica. In conclusion, the Public Cloud market in Costa Rica is experiencing steady growth due to customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. As businesses in the country recognize the benefits of cloud computing and seek to modernize their IT infrastructure, the demand for Public Cloud services is expected to continue increasing 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.