Public Cloud - Norway

Norway

Revenue in the Public Cloud market is projected to reach US$4,237.00m in 2024.
Software as a Service dominates the market with a projected market volume of US$1,980.00m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 15.64%, resulting in a market volume of US$8,761.00m by 2029.
The average spend per employee in the Public Cloud market is projected to reach US$1,374.00 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

Norway, a country known for its stunning fjords and high standard of living, is also experiencing significant growth in its Public Cloud market. Customer preferences in Norway are shifting towards the Public Cloud due to its numerous benefits. Companies are increasingly looking to leverage the scalability, cost-effectiveness, and flexibility offered by the Public Cloud. With the ability to quickly scale up or down resources based on demand, businesses can optimize their operations and reduce costs. Furthermore, the Public Cloud provides a platform for innovation, enabling organizations to experiment with new technologies and solutions without the need for significant upfront investments. Trends in the market indicate that the adoption of Public Cloud services in Norway is on the rise. Companies across various industries, including finance, healthcare, and manufacturing, are embracing the Public Cloud to enhance their digital transformation efforts. The demand for cloud-based solutions, such as Software-as-a-Service (SaaS), Infrastructure-as-a-Service (IaaS), and Platform-as-a-Service (PaaS), is growing as organizations seek to modernize their IT infrastructure and improve business agility. Additionally, the emergence of edge computing and the Internet of Things (IoT) is driving the need for scalable and distributed cloud architectures, further fueling the demand for Public Cloud services. In addition to customer preferences and global market trends, there are some local special circumstances that contribute to the development of the Public Cloud market in Norway. The country's strong focus on sustainability and renewable energy aligns well with the environmental benefits of the Public Cloud. Norway's abundant supply of clean and renewable energy, primarily hydroelectric power, makes it an attractive location for data centers. This not only reduces the carbon footprint of the Public Cloud infrastructure but also provides a competitive advantage for cloud service providers operating in the Norwegian market. Underlying macroeconomic factors also play a role in the growth of the Public Cloud market in Norway. The country's robust economy, stable political environment, and high level of digital maturity create a favorable business environment for cloud service providers. Furthermore, the COVID-19 pandemic has accelerated the adoption of digital technologies, including the Public Cloud, as organizations seek to enable remote work and ensure business continuity. This increased reliance on cloud-based solutions is expected to continue even after the pandemic subsides, driving further growth in the Public Cloud market. Overall, the Public Cloud market in Norway is experiencing significant growth as customer preferences shift towards cloud-based solutions, global market trends drive adoption, local special circumstances align with the benefits of the Public Cloud, and underlying macroeconomic factors create a favorable business environment. As organizations in Norway continue to embrace digital transformation, the Public Cloud is poised to play a crucial role in enabling innovation, scalability, and cost-efficiency.

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.