Infrastructure as a Service - Hungary

Revenue in the Infrastructure as a Service market is projected to reach US$135.20m in 2024.
0.0 dominates the market with a projected market volume of 0.0 in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 22.40%, resulting in a market volume of US$371.30m by 2029.
In global comparison, most revenue will be generated United States (US$77.05bn in 2024).

Definition:

Infrastructure as a Service (IaaS) refers to the type of public cloud service that provides virtualized computing resources. IaaS offers on-demand access to virtual machines, storage, and networking components, thus allowing users to build, deploy, and manage IT infrastructure without the need to invest in physical hardware. IaaS offers scalability, flexibility, and cost-efficiency by requiring users to pay only for the resources they consume. The IaaS market includes the companies that provide these types of public cloud resources and services to individuals, businesses, and organizations. A typical example of this type of service is Amazon Web Services (AWS). AWS provides a wide range of virtual machines, storage, and networking resources that users can access on demand to build and manage their IT infrastructures.

Additional Information:

The Infrastructure as a Service (IaaS) 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 IaaS market include companies such as Amazon (Amazon web services), Microsoft (Azure), Google (Cloud), and IBM (Cloud).

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Server capabilities, such as Amazon Elastic Compute Cloud (EC2), Azure IaaS, and Google Compute Engine (GCE)
Computing resources, such as Amazon Elastic Compute Cloud (EC2), Azure IaaS, and Google Compute Engine (GCE)
Storage resources, such as Amazon Elastic Block Store (EBS), Azure Blob Storage, and Google Cloud
Network capabilities, such as Google Cloud Interconnect and Alibaba Cloud Express Connect

Business-Process-as-a-Service (BPaaS), such as payroll management and accounting solutions via ADP Workforce Now, Intuit QuickBooks Online, Workday, and Oracle NetSuite
Desktop-as-a-Service (DaaS), such as Amazon WorkSpaces, Microsoft Windows Virtual Desktop, VMware Horizon Cloud, and Citrix Virtual Apps and Desktops
Platform-as-a-Service (PaaS), such as Heroku, AWS Elastic Beanstalk, Google App Engine, Microsoft Azure App Service, and IBM Cloud Foundry
Software-as-a-Service (SaaS), such as Google Workspace, Microsoft 365, Salesforce, Zoom, and Slack
System infrastructure software, such as Microsoft Windows Server, Linux distributions, VMware for virtualization, and Cisco’s networking software
Private cloud services, such as IBM Cloud Private, Microsoft Azure Stack HCI, and VMware vCloud Suite

The Infrastructure as a Service Market within the Public Cloud Market in Hungary is seeing substantial growth, driven by factors such as increasing adoption of cloud technologies, government initiatives to promote digital transformation, and the need for cost-effective and scalable IT solutions. This market is expected to continue growing at a rapid pace due to the growing demand for digital services and the shift towards cloud-based infrastructure solutions.

Customer preferences: The Infrastructure as a Service Market within the Public Cloud Market in Hungary is witnessing a rising demand for cloud-based solutions as businesses prioritize remote work and digital transformation. This shift is driven by the need for flexible and scalable infrastructure to support remote operations, as well as the growing popularity of remote collaboration tools and virtual meetings. Additionally, with the rise of e-commerce and online shopping, there is an increasing demand for cloud-based solutions to support online transactions and manage large amounts of data.

Trends in the market: In Hungary, the Infrastructure as a Service Market within the Public Cloud Market is experiencing a surge in demand, as more businesses move towards cloud-based solutions for their IT infrastructure. This trend is expected to continue, with a projected annual growth rate of 15% in the coming years. This shift towards cloud-based infrastructure offers significant cost savings and scalability for businesses, making it a highly attractive option. However, this trend also raises concerns about data security and compliance, leading to a growing demand for cloud security solutions and services. Furthermore, the rise of hybrid cloud models, combining both public and private cloud services, is also gaining momentum, providing businesses with a more flexible and tailored approach to their cloud infrastructure needs. These trends highlight the importance of a strong and reliable cloud infrastructure in today's digital landscape, emphasizing the need for industry stakeholders to stay updated and adapt to the changing market demands.

Local special circumstances: In Hungary, the Infrastructure as a Service Market within the Public Cloud Market is influenced by the country's unique geographical location at the crossroads of Europe and its strong technological capabilities. This has led to a high demand for cloud services from both domestic and international companies. Additionally, the Hungarian government has implemented favorable regulations and incentives for businesses to adopt cloud services, further driving market growth. The country's strong focus on innovation and digitalization has also created a conducive environment for the development of the public cloud market, making it a leader in the Central and Eastern European region.

Underlying macroeconomic factors: The Infrastructure as a Service Market within the Public Cloud Market in Hungary is greatly impacted by macroeconomic factors such as the country's economic stability, fiscal policies, and global economic trends. With a strong and growing economy, Hungary has become an attractive market for public cloud services, including Infrastructure as a Service. Additionally, the government's support for digital transformation and investment in advanced infrastructure has further boosted the growth of the market. However, challenges such as regulatory barriers and limited funding for IT infrastructure may hinder the market's potential growth. As the country continues to prioritize technological advancements and invest in digital infrastructure, the demand for Infrastructure as a Service is expected to increase, driven by the need for efficient and cost-effective cloud solutions.

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.

This report presents a comprehensive analysis and additional information on the Technology market, in a PDF format.

Together with platform as a service (PaaS) and infrastructure as a service (IaaS), software as a service (SaaS) is one of the three primary tiers of cloud computing. It allows businesses to redirect resources away from IT hardware, software, and personnel expenses, and towards other business needs. Currently, the most prominent companies in the SaaS market are Microsoft, Salesforce, Oracle, SAP, and Google.