Public Cloud - Guatemala

Guatemala

Revenue in the Public Cloud market is projected to reach US$258.40m in 2024.
Platform as a Service dominates the market with a projected market volume of US$78.12m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 21.00%, resulting in a market volume of US$670.20m by 2029.
The average spend per employee in the Public Cloud market is projected to reach US$35.57 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

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Analyst Opinion

The Public Cloud market in Guatemala is experiencing considerable growth due to factors such as increasing adoption of digital technologies, rising awareness about the benefits of online services, and the convenience offered by various sub-markets. The growth rate can be attributed to the country's increasing focus on digital transformation and the growing demand for cost-effective and efficient cloud solutions.

Customer preferences: As technology continues to advance and internet access becomes more widespread, Guatemalan consumers are increasingly turning towards public cloud solutions for their data storage and computing needs. This shift is driven by a growing demand for convenience and accessibility, as well as a desire for cost-effective solutions. Additionally, with the rise of remote work and virtual collaborations, businesses are also adopting public cloud services to improve their efficiency and productivity. This trend is also influenced by the country's young and tech-savvy population, who are quick to adopt new digital tools and services.

Trends in the market: In Guatemala, the Public Cloud Market is experiencing a surge in demand for hybrid cloud solutions, as businesses seek to balance cost-efficiency and data security. This trend is significant as it reflects the country's growing digitalization efforts and the need for flexible, scalable cloud services. Industry stakeholders can expect increased competition in the market, with a focus on providing innovative hybrid cloud offerings. There is also potential for partnerships between local and international cloud providers to cater to the specific needs of Guatemalan businesses.

Local special circumstances: In Guatemala, the Public Cloud Market is still in its early stages of development, with a significant potential for growth. The country's geographical location, with its proximity to the United States and its strong ties to the technology industry, makes it an attractive market for cloud services. Additionally, the government is actively promoting digital transformation and innovation, creating a favorable environment for the adoption of public cloud solutions. However, cultural factors, such as a preference for traditional IT infrastructure and concerns over data security, may slow down the market's growth. Regulatory challenges, such as the lack of clear data protection laws, also pose a barrier to the market's expansion.

Underlying macroeconomic factors: The Public Cloud Market in Guatemala is heavily impacted by macroeconomic factors such as government policies, technological advancements, and overall economic health. Countries with supportive government policies and investments in cloud technologies are experiencing higher growth in the market compared to those with regulatory challenges and limited funding. Furthermore, the increasing demand for digital transformation and the adoption of cloud-based solutions by businesses are also contributing to the growth of the Public Cloud Market in Guatemala.

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.