Public Cloud - Equatorial Guinea

Equatorial Guinea

Revenue in the Public Cloud market is projected to reach US$19.54m in 2024.
Infrastructure as a Service dominates the market with a projected market volume of US$6.44m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 14.95%, resulting in a market volume of US$39.22m 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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Analyst Opinion

The Public Cloud market in Equatorial Guinea is witnessing steady growth, driven by factors such as increasing demand for digital services, rising awareness about cloud computing, and the convenience offered by online solutions. The market's average growth rate is influenced by factors such as government initiatives and investments in digital infrastructure, as well as the growing need for cost-effective and scalable IT solutions in various industries.

Customer preferences: As internet usage and access continues to grow in Equatorial Guinea, there is a rising demand for cloud-based solutions, particularly in the public sector. This is driven by the government's efforts to modernize and digitize services, as well as the increasing adoption of cloud-based technologies by businesses and organizations. Additionally, the younger generation, who are more tech-savvy and accustomed to using digital services, are also contributing to the growth of the public cloud market in the country. This shift towards cloud-based solutions is expected to continue as the country's digital infrastructure and connectivity improve.

Trends in the market: In Equatorial Guinea, the Public Cloud market is experiencing a surge in demand for hybrid and multi-cloud solutions. This trend is driven by the need for scalability, flexibility, and cost-efficiency in managing data and applications. With the growing availability of high-speed internet and increased mobile device usage, the country is also witnessing a rise in cloud-based services for e-commerce, education, and government services. This trend is expected to continue as businesses and organizations increasingly adopt cloud services to improve operations and reach a wider audience. Industry stakeholders should pay attention to the evolving landscape and capitalize on the opportunities presented by this trend. Companies that offer managed cloud services or develop innovative cloud-based solutions are likely to benefit from the growing demand in Equatorial Guinea.

Local special circumstances: In Equatorial Guinea, the public cloud market is still in its early stages due to the country's limited internet infrastructure and low technology adoption. However, the government's efforts to improve connectivity and promote the use of digital technologies are expected to drive market growth. Additionally, the country's unique cultural and regulatory environment, including its reliance on natural resources and its small population size, will shape the development of the public cloud market in Equatorial Guinea.

Underlying macroeconomic factors: In Equatorial Guinea, the Public Cloud market is largely impacted by macroeconomic factors such as the country's overall economic health and government policies. With a growing economy and increasing investment in infrastructure, the demand for cloud services is expected to rise. Additionally, global economic trends also play a role in the market's growth, as the adoption of cloud technology by businesses and organizations worldwide drives the need for advanced and secure cloud solutions. Furthermore, the government's efforts to promote digital transformation and attract foreign investment in the technology sector are expected to further drive the growth of the Public Cloud market in Equatorial Guinea.

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.