Public Cloud - Lithuania

Lithuania

Revenue in the Public Cloud market is projected to reach US$262.00m in 2024.
Software as a Service dominates the market with a projected market volume of US$91.48m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 18.96%, resulting in a market volume of US$624.20m by 2029.
The average spend per employee in the Public Cloud market is projected to reach US$170.20 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

The Public Cloud market in Lithuania has been experiencing significant growth in recent years, driven by customer preferences for scalable and cost-effective IT solutions, as well as favorable local special circumstances and underlying macroeconomic factors.

Customer preferences: In line with global trends, customers in Lithuania are increasingly turning to Public Cloud services for their IT needs. This is primarily driven by the scalability and flexibility offered by Public Cloud providers, allowing businesses to easily adjust their computing resources based on demand. Additionally, the cost-effectiveness of Public Cloud services is a major factor for customers in Lithuania, as it allows them to reduce their upfront capital expenditure on IT infrastructure and instead pay for only the resources they use.

Trends in the market: One of the key trends in the Public Cloud market in Lithuania is the growing adoption of Software-as-a-Service (SaaS) solutions. SaaS offerings provide customers with access to a wide range of software applications without the need for on-premises installation and maintenance. This trend is driven by the increasing availability of cloud-based software solutions that cater to various business needs, such as customer relationship management, human resources management, and enterprise resource planning. Another trend in the market is the rising demand for Infrastructure-as-a-Service (IaaS) and Platform-as-a-Service (PaaS) solutions. These services provide customers with the necessary computing infrastructure and development platforms to build, deploy, and manage their own applications. This trend is driven by the growing number of businesses in Lithuania that are looking to leverage cloud-based technologies for their software development and deployment needs.

Local special circumstances: Lithuania has a highly skilled IT workforce, which has been a driving factor in the growth of the Public Cloud market. The country has a strong educational system and a culture that values technological innovation, leading to a pool of talented professionals in the IT sector. This has attracted global Public Cloud providers to establish a presence in Lithuania, offering their services to local businesses and driving competition in the market. Furthermore, Lithuania has a favorable business environment that encourages the adoption of cloud technologies. The government has implemented policies to promote digital transformation and innovation, including initiatives to support the development of cloud computing infrastructure and services. This has created a conducive environment for businesses to adopt Public Cloud solutions and leverage the benefits they offer.

Underlying macroeconomic factors: The strong growth of the Public Cloud market in Lithuania is also supported by underlying macroeconomic factors. The country has a stable and growing economy, with a focus on technology and innovation. This has attracted both domestic and foreign investments in the IT sector, driving the demand for cloud services. Additionally, Lithuania has a high internet penetration rate and a well-developed telecommunications infrastructure, which are essential for the adoption of cloud technologies. The availability of reliable and high-speed internet connectivity enables businesses to access and utilize Public Cloud services effectively. In conclusion, the Public Cloud market in Lithuania is experiencing significant growth due to customer preferences for scalable and cost-effective IT solutions, as well as favorable local special circumstances and underlying macroeconomic factors. The adoption of SaaS, IaaS, and PaaS solutions, the presence of a skilled IT workforce, a favorable business environment, and strong macroeconomic fundamentals are all contributing to the growth of the Public Cloud market in Lithuania.

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.