Public Cloud - Iraq

Iraq

Revenue in the Public Cloud market is projected to reach US$655.80m in 2024.
Infrastructure as a Service dominates the market with a projected market volume of US$223.60m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 16.89%, resulting in a market volume of US$1,431.00m by 2029.
The average spend per employee in the Public Cloud market is projected to reach US$54.50 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

Region comparison

Currency

Analyst Opinion

In Iraq, the Public Cloud market is experiencing considerable growth, driven by factors such as increasing adoption of digital technologies, growing awareness of the benefits of online services, and the convenience offered by various cloud sub-markets. The market's growth rate is impacted by the country's increasing focus on digital transformation and the need for cost-effective solutions in the healthcare and other industries.

Customer preferences: As technology becomes more accessible and affordable in Iraq, there has been a noticeable increase in demand for public cloud services. This trend is driven by a growing preference for flexible, scalable, and cost-effective solutions. Additionally, there is a rising awareness of data security and the need for reliable backup and disaster recovery plans. This has spurred a shift towards cloud-based solutions, particularly among small and medium-sized businesses. Furthermore, the younger generation, who are more tech-savvy and mobile, are also driving the adoption of public cloud services for their personal and professional needs.

Trends in the market: In Iraq, the Public Cloud Market is experiencing a rise in demand for cloud services, with businesses and government agencies increasingly turning to the cloud for data storage and management. This trend is expected to continue as more organizations seek to modernize their IT infrastructure and reduce costs. For industry stakeholders, this presents opportunities for growth and innovation in the market, but also challenges in terms of meeting the evolving needs of customers and maintaining a competitive edge. The trajectory of this trend points towards a significant shift in the way businesses and government entities in Iraq operate, with the potential to greatly impact the economy and spur further technological advancements in the region.

Local special circumstances: In Iraq, the Public Cloud Market is experiencing slow growth due to limited internet connectivity and a lack of trust in cloud services. Additionally, the country's political instability and ongoing conflicts have hindered the adoption of new technologies. However, with the government's efforts to modernize the IT infrastructure and promote digitalization, the market is expected to grow in the coming years. The local cultural and religious beliefs also play a role in shaping the market, with a preference for on-premise data storage and concerns about data security. These factors present unique challenges for companies entering the Iraqi Public Cloud Market.

Underlying macroeconomic factors: The Public Cloud Market is heavily influenced by macroeconomic factors, including the overall economic health of Iraq and global economic trends. The country's economic stability, fiscal policies, and investment in technological infrastructure all play a role in the growth and adoption of public cloud services. Additionally, the increasing digitization of businesses and the need for cost-effective and scalable solutions are driving the demand for public cloud services in Iraq. Furthermore, the government's support for digital transformation and initiatives to attract foreign investment are expected to further accelerate the growth of the public cloud market in the country.

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.