Public Cloud - Dominican Republic

Dominican Republic

Revenue in the Public Cloud market is projected to reach US$355.40m in 2024.
Infrastructure as a Service dominates the market with a projected market volume of US$106.70m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 21.17%, resulting in a market volume of US$928.30m 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 the Dominican Republic is experiencing significant growth, driven by factors such as increasing adoption of digital technologies, rising awareness of the benefits of cloud services, and the convenience of online platforms. Its considerable growth rate can be attributed to the demand for various sub-markets and the overall shift towards cloud-based solutions in the country.

Customer preferences: As the Dominican Republic continues to invest in digital infrastructure and connectivity, consumers are increasingly turning to public cloud services for their data storage and computing needs. This trend is driven by a growing preference for convenience and flexibility, as well as the need for secure and reliable options for remote work and collaboration. Additionally, the rise of e-commerce and online banking has also contributed to the demand for public cloud services, as businesses and individuals seek secure and scalable solutions for their online transactions and financial data.

Trends in the market: In the Dominican Republic, the public cloud market is experiencing a surge in adoption, driven by the growing demand for remote work and digital transformation. This trend is expected to continue as businesses prioritize cost efficiency and scalability. Additionally, there is a shift towards multi-cloud solutions, as organizations seek to diversify their cloud portfolios. This presents opportunities for industry stakeholders, such as cloud service providers and managed service providers, to offer a range of services and support. However, there may also be challenges in terms of data security and compliance, which will need to be addressed to maintain the growth trajectory of the public cloud market in the Dominican Republic.

Local special circumstances: In Dominican Republic, the Public Cloud Market is seeing significant growth due to the country's improving internet infrastructure and increasing adoption of technology. The market is also driven by the government's efforts to promote digital transformation and attract foreign investment. Additionally, cultural factors such as a growing tech-savvy population and a favorable business environment are contributing to the market's expansion. However, regulatory challenges, such as data privacy laws, may affect the market's future development.

Underlying macroeconomic factors: The Public Cloud Market in the Dominican Republic is impacted by macroeconomic factors such as economic stability, government policies, and technological advancements. The country's strong economic growth and favorable business climate have attracted investments in cloud computing infrastructure, resulting in a robust public cloud market. Additionally, the increasing adoption of cloud-based solutions by enterprises and the government's initiatives to promote digital transformation are driving the demand for public cloud services in the country. Furthermore, the rise of remote work and e-commerce due to the COVID-19 pandemic has also accelerated the adoption of public cloud solutions, further fueling market growth.

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.