Infrastructure as a Service - Armenia

  • Armenia
  • Revenue in the Infrastructure as a Service market is projected to reach US$27.66m in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 23.08%, resulting in a market volume of US$78.11m by 2029.
  • The average spend per employee in the Infrastructure as a Service market is projected to reach US$19.97 in 2024.
  • In global comparison, most revenue will be generated in the United States (US$78,280.00m in 2024).

Key regions: United Kingdom, China, France, Netherlands, Germany

 
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Analyst Opinion

In the Public Cloud Market in Armenia, the Infrastructure as a Service sector is witnessing significant growth. Factors such as the country's increasing adoption of digital technologies and rising awareness about health are driving this substantial growth rate. The convenience of online health services is also a major contributor to this trend.

Customer preferences:
As cloud adoption continues to grow in Armenia, there has been a notable increase in demand for Infrastructure as a Service (IaaS) solutions. This shift is driven by the need for more agile and cost-effective IT infrastructure, as well as the growing popularity of remote work and virtual collaboration. Additionally, the country's tech-savvy population and developing digital infrastructure have made it easier for businesses to embrace the benefits of IaaS and other cloud-based services. As a result, IaaS is expected to experience significant growth in the coming years, reflecting the evolving preferences and needs of consumers in Armenia.

Trends in the market:
In Armenia, the Infrastructure as a Service Market within the Public Cloud Market is experiencing a shift towards hybrid cloud solutions, where organizations are utilizing both public and private cloud services. This trend is driven by the need for greater flexibility and cost-effectiveness, as well as concerns around data security. As a result, there is a growing demand for managed hybrid cloud services, allowing organizations to seamlessly integrate their on-premises infrastructure with public cloud offerings. This trend is expected to continue, with industry stakeholders focusing on developing robust hybrid cloud solutions to meet the evolving needs of the market. This shift towards hybrid cloud also presents opportunities for cloud service providers to offer value-added services, such as cloud migration and management, to support the adoption of hybrid cloud models.

Local special circumstances:
In Armenia, the Infrastructure as a Service Market within the Public Cloud Market is influenced by the country's small size and limited resources. This has led to a strong emphasis on cost-effective solutions and a focus on sustainability. Additionally, government regulations play a significant role in shaping the market, with policies promoting the adoption of cloud services and data protection measures. The unique geographical location of Armenia has also led to the development of specialized cloud services for industries such as agriculture and tourism, catering to the specific needs of the local market.

Underlying macroeconomic factors:
The Infrastructure as a Service Market within the Public Cloud Market in Armenia is greatly affected by macroeconomic factors such as the country's economic stability, government policies, and investment in infrastructure. As the global economy continues to shift towards digitalization, the demand for public cloud services, particularly in the infrastructure segment, is expected to grow. Countries with strong economic health and favorable policies towards technology adoption are likely to experience faster market growth compared to those with regulatory challenges and limited investment in infrastructure. Furthermore, the increasing need for cost-effective and efficient IT solutions, driven by the growing digital economy, is also a key factor influencing the demand for Infrastructure as a Service within the Public Cloud Market in Armenia.

Methodology

Data coverage:

The data encompasses B2B and B2C enterprises. Figures are based on the money spent at manufacturer price level (excluding VAT).

Modeling approach / Market size:

The segment size is determined through a top-down approach. We use financial statements such as annual reports, quarterly earnings, and expert opinions to analyze the markets. To estimate the segment size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as GDP and level of telecommunications infrastructure.

Forecasts:

We use a variety of forecasting techniques, depending on the behavior of the relevant segment. 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.

Overview

  • Revenue
  • Analyst Opinion
  • Global Comparison
  • Methodology
  • Key Market Indicators
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