Infrastructure as a Service - Benin

Benin

Revenue in the Infrastructure as a Service market is projected to reach US$17.13m in 2024.
0 dominates the market with a projected market volume of 0 in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 24.18%, resulting in a market volume of US$50.58m by 2029.
In global comparison, most revenue will be generated in the United States (US$77,050.00m in 2024).

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Infrastructure as a Service Market in Benin is witnessing substantial growth in the Public Cloud Market, driven by the increasing demand for digital services and the convenience of online health services. Factors such as rising awareness about digital technologies and health consciousness among consumers are also contributing to this growth.

Customer preferences: As more businesses in Benin shift towards cloud-based solutions, there has been a growing demand for Infrastructure as a Service (IaaS) in the Public Cloud Market. This trend is driven by the need for flexible and scalable IT infrastructure, as well as cost savings. Additionally, the rise in remote work due to the COVID-19 pandemic has accelerated the adoption of IaaS, as companies look for reliable and secure cloud-based solutions to support their remote workforce.

Trends in the market: In Benin, there is a growing trend towards the adoption of Infrastructure as a Service (IaaS) within the Public Cloud Market. This is driven by the increasing demand for scalable and cost-effective IT solutions, as well as the government's efforts to modernize its infrastructure. The trajectory of this trend is expected to continue upwards, with a projected growth of the IaaS market in Benin at a CAGR of 20% by 2025. This presents significant opportunities for industry stakeholders, such as cloud service providers and IT companies, to expand their offerings and establish a strong presence in the market. Additionally, the adoption of IaaS in Benin can also have positive implications for the country's overall economic growth, as it can attract foreign investments and drive digital transformation across various industries.

Local special circumstances: In Benin, the Infrastructure as a Service market within the Public Cloud Market is influenced by the country's limited electricity and internet infrastructure. This has led to challenges in the adoption of cloud services, as well as a focus on building local data centers. Additionally, cultural norms and government regulations around data privacy and security play a key role in shaping the market. These factors contribute to a slower growth rate compared to other markets, but also present opportunities for local players to cater to the unique needs of the Beninese market.

Underlying macroeconomic factors: The Infrastructure as a Service Market within the Public Cloud Market in Benin is heavily influenced by macroeconomic factors such as technological advancements, government policies and investments in infrastructure. Countries with favorable regulatory environments and strong investments in cloud infrastructure have experienced faster market growth compared to regions with regulatory challenges and limited resources. Additionally, the increasing adoption of digital technologies and the need for cost-effective IT solutions in the public sector are driving the demand for infrastructure as a service in Benin. This trend is further supported by the country's efforts to improve its digital infrastructure and attract foreign investments.

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.