Public Cloud - Mongolia

Mongolia

Revenue in the Public Cloud market is projected to reach US$82.63m in 2024.
Software as a Service dominates the market with a projected market volume of US$28.64m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 17.56%, resulting in a market volume of US$185.50m by 2029.
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

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Analyst Opinion

The public cloud market in Mongolia is experiencing steady growth, driven by factors such as increasing demand for digital services, growing awareness of cloud technology, and the convenience of online solutions. The market's average growth rate is influenced by the sub-markets of Infrastructure, Platform, Software, Business Process, Desktop, and Disaster Recovery as a Service. Factors such as government initiatives, advancements in technology, and the rise of e-commerce are impacting this growth rate.

Customer preferences: As Mongolia continues to urbanize and modernize, there has been a notable increase in demand for public cloud services. This trend can be attributed to the growing number of startups and small businesses looking for cost-effective and flexible solutions. Additionally, the rise of remote work and virtual meetings has also fueled the adoption of public cloud technology, allowing for seamless collaboration and communication across different locations.

Trends in the market: In Mongolia, the Public Cloud Market is experiencing a growing trend towards the adoption of hybrid cloud solutions, with companies leveraging both public and private cloud services to meet their unique needs. This trajectory highlights the increasing importance of flexibility and scalability in cloud computing, as well as the potential for cost savings and improved performance. For industry stakeholders, this trend presents opportunities for partnerships and collaborations to offer comprehensive cloud solutions, while also emphasizing the need for staying competitive in a rapidly evolving market. Additionally, the rise of hybrid cloud in Mongolia may also have implications for the country's digital infrastructure and its ability to support this growing demand for cloud services.

Local special circumstances: In Mongolia, the Public Cloud Market is gaining traction due to the country's rapidly growing economy and government initiatives to improve digital infrastructure. The market is also influenced by the country's unique geography, with vast rural areas and limited physical infrastructure, making cloud services a convenient and cost-effective solution for businesses. Additionally, Mongolia's nomadic culture has led to a strong demand for remote working and flexible technology solutions, further driving the growth of the Public Cloud Market in the country.

Underlying macroeconomic factors: The Public Cloud Market in Mongolia is heavily influenced by macroeconomic factors such as the country's economic stability, government policies, and global economic trends. Mongolia's strong economic growth and stable political environment have attracted foreign investments, leading to the development of the country's digital infrastructure. Additionally, the government's initiatives to promote digital transformation and improve internet connectivity have further accelerated the adoption of public cloud services in the country. However, fluctuations in global economic conditions, such as trade tensions and currency exchange rates, may impact the growth of the Public Cloud Market in Mongolia. Furthermore, the country's fiscal policies and regulations on data privacy and security also play a crucial role in shaping the market's performance.

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.