Public Cloud - North Macedonia

North Macedonia

Revenue in the Public Cloud market is projected to reach US$27.14m in 2024.
Software as a Service dominates the market with a projected market volume of US$12.16m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 19.67%, resulting in a market volume of US$66.61m by 2029.
The average spend per employee in the Public Cloud market is projected to reach US$28.74 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

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Analyst Opinion

The Public Cloud Market in North Macedonia is experiencing considerable growth, driven by factors such as increasing adoption of cloud technologies, growing awareness of the benefits of online services, and the convenience of cloud solutions. This growth is reflected in the sub-markets of Infrastructure, Platform, Software, Business Process, and Desktop as a Service. The overall growth rate is influenced by these sub-markets and their ability to meet the demand for efficient and cost-effective cloud solutions.

Customer preferences: The growing adoption of digitalization in North Macedonia has led to a significant increase in demand for public cloud services. This trend is driven by the need for businesses to streamline their operations and improve efficiency, as well as the increasing reliance on remote work due to the COVID-19 pandemic. Additionally, the rise in e-commerce and online shopping has fueled the demand for scalable and secure cloud infrastructure to support these transactions. This shift towards digital solutions is also influenced by the country's young and tech-savvy population, who are more comfortable with online platforms and expect quick and seamless experiences.

Trends in the market: In North Macedonia, the Public Cloud Market is experiencing a steady growth due to the increasing adoption of cloud-based services by businesses of all sizes. This trend is expected to continue as more companies realize the benefits of cloud computing, such as cost savings and scalability. Additionally, with the rise of remote work and the need for secure and flexible data storage solutions, the demand for public cloud services is expected to further increase. This presents an opportunity for industry stakeholders to capitalize on the market potential by offering innovative and tailored solutions to meet the evolving needs of businesses in North Macedonia.

Local special circumstances: In North Macedonia, the Public Cloud Market is experiencing growth due to the country's efforts to modernize its IT infrastructure and promote digital transformation. With a small market size and a developing economy, the government's initiatives to attract foreign investments and promote entrepreneurship have created a favorable environment for cloud adoption. Additionally, the country's strategic location at the crossroads of Europe, Asia, and Africa makes it an attractive location for data centers, further fueling the growth of the public cloud market.

Underlying macroeconomic factors: The Public Cloud Market in North Macedonia is strongly influenced by macroeconomic factors such as technological advancements, government support, and investment in digital infrastructure. Countries with favorable policies and a strong focus on digital transformation are experiencing faster growth in the market compared to regions with regulatory challenges and limited investment. Additionally, the increasing adoption of cloud technology by businesses and the growing demand for flexible and cost-effective solutions are driving the growth of the public cloud market in North Macedonia.

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.