Public Cloud - Greece

Greece

In Greece, revenue in the Public Cloud market is projected to reach US$785.90m in 2024.
Platform as a Service dominates the market in Greece with a projected market volume of US$240.70m in 2024.
Revenue in Greece is expected to show an annual growth rate (CAGR 2024-2029) of 16.48%, resulting in a market volume of US$1,685.00m by 2029.
In global comparison, most revenue will be generated the United States (US$388.50bn in 2024).
Greece is witnessing a significant shift towards public cloud adoption, driven by increasing digital transformation initiatives among local businesses and government entities.

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

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Analyst Opinion

The public cloud market in Greece is experiencing considerable growth, driven by factors such as increasing adoption of cloud technologies, rising awareness of its benefits, and the convenience of online services. The market growth is also impacted by the various sub-markets, such as Infrastructure, Platform, Software, Business Process, Desktop, and Disaster Recovery as a Service.

Customer preferences: As technology becomes more integrated into daily life in Greece, consumers are increasingly turning to public cloud solutions for their data storage and computing needs. This trend is driven by a growing reliance on digital communication and remote work, as well as a desire for greater convenience and flexibility. Additionally, the rise of the gig economy and freelance work has also contributed to the increased demand for public cloud services. This shift towards digitalization is expected to continue as the country continues to modernize and adapt to the changing global landscape.

Trends in the market: In Greece, the Public Cloud Market is seeing a shift towards Software as a Service (SaaS) offerings, with businesses preferring the convenience and cost-effectiveness of cloud-based solutions. Additionally, there is a growing trend of incorporating Artificial Intelligence (AI) and Machine Learning (ML) capabilities into cloud services, enabling businesses to make data-driven decisions and improve their operations. This trajectory is significant as it allows businesses to access advanced technologies without heavy investments in infrastructure. However, it also raises concerns about data privacy and security. As the use of public cloud services continues to grow, industry stakeholders must prioritize implementing robust security measures and compliance standards to address these concerns and maintain consumer trust.

Local special circumstances: In Greece, the Public Cloud Market is experiencing significant growth due to the country's growing IT infrastructure and increasing adoption of digital services. The market is also driven by the government's push for digital transformation and the increasing demand for cost-effective solutions. Additionally, the country's location at the crossroads of Europe and Asia makes it an ideal hub for cloud services, catering to both local and international markets. However, the market is also influenced by strict data privacy laws and regulations, which can impact the adoption and use of public cloud services in the country.

Underlying macroeconomic factors: The Public Cloud Market in Greece is heavily influenced by macroeconomic factors such as the country's economic stability, government policies, and investment in digital infrastructure. Greece's entrance into the European Union and its adoption of the euro have allowed for a more favorable business environment, attracting foreign investments and promoting economic growth. Furthermore, the Greek government's support for digital transformation initiatives, such as the Digital Transformation Strategy 2021-2025, has created opportunities for the growth of the Public Cloud Market. Additionally, the increasing adoption of cloud-based technologies by businesses of all sizes in Greece is driving the demand for Public Cloud solutions, as companies seek to improve efficiency and reduce costs.

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.