Infrastructure as a Service - Ukraine

Ukraine

Revenue in the Infrastructure as a Service market is projected to reach US$189.30m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 20.47%, resulting in a market volume of US$480.40m by 2029.
The average spend per employee in the Infrastructure as a Service market is projected to reach US$9.73 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

Market

Region

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Currency

Analyst Opinion

The Infrastructure as a Service market in Ukraine has been experiencing significant growth in recent years, driven by customer preferences for flexible and scalable cloud computing solutions.

Customer preferences: Ukrainian businesses are increasingly turning to Infrastructure as a Service (IaaS) solutions to meet their computing needs. This is due to the numerous benefits that IaaS offers, such as cost savings, scalability, and flexibility. With IaaS, businesses can access and manage their computing resources on-demand, without the need for physical infrastructure or hardware. This allows them to quickly scale their operations up or down based on their needs, and pay only for the resources they actually use. Additionally, IaaS providers often offer a wide range of services and tools that businesses can leverage to enhance their operations and improve efficiency.

Trends in the market: One of the key trends in the Ukrainian IaaS market is the increasing adoption of cloud-based solutions by small and medium-sized enterprises (SMEs). SMEs in Ukraine are recognizing the benefits of IaaS, such as reduced IT costs and improved agility, and are leveraging these solutions to compete with larger enterprises. This trend is expected to continue as more SMEs become aware of the advantages of cloud computing and the availability of affordable IaaS solutions. Another trend in the market is the growing demand for hybrid cloud solutions. Many Ukrainian businesses are opting for a hybrid cloud approach, which combines the benefits of both public and private clouds. This allows them to have greater control over their sensitive data and applications while also taking advantage of the scalability and cost-effectiveness of public cloud services. As a result, IaaS providers in Ukraine are increasingly offering hybrid cloud solutions to cater to this demand.

Local special circumstances: The Ukrainian IaaS market is also influenced by local special circumstances. One such circumstance is the country's rapidly growing IT sector. Ukraine has emerged as a major global IT outsourcing destination, attracting companies from around the world. This has created a strong demand for IaaS solutions, as businesses look to leverage cloud computing to support their outsourcing activities. Additionally, the Ukrainian government has been actively promoting the development of the country's IT sector, which has further contributed to the growth of the IaaS market.

Underlying macroeconomic factors: The growth of the IaaS market in Ukraine is also driven by underlying macroeconomic factors. The country's economy has been recovering from a period of political and economic instability, and businesses are increasingly investing in technology to drive growth and improve efficiency. Additionally, the COVID-19 pandemic has accelerated the adoption of cloud computing globally, and Ukraine is no exception. As businesses shifted to remote work and digital operations, the demand for cloud-based solutions, including IaaS, has surged. This trend is expected to continue as businesses recognize the long-term benefits of cloud computing and the need for resilient and flexible IT infrastructure.

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.