Public Cloud - Puerto Rico

Puerto Rico

Revenue in the Public Cloud market is projected to reach US$367.60m in 2024.
Platform as a Service dominates the market with a projected market volume of US$113.40m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 16.57%, resulting in a market volume of US$791.30m by 2029.
The average spend per employee in the Public Cloud market is projected to reach US$318.10 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 Puerto Rico is experiencing significant growth and development.

Customer preferences: Customers in Puerto Rico are increasingly adopting Public Cloud services due to their numerous benefits. The flexibility and scalability offered by Public Cloud solutions allow businesses to easily adjust their computing resources according to their needs. This is particularly attractive for small and medium-sized enterprises (SMEs) in Puerto Rico, as it enables them to access advanced technological capabilities without the need for large upfront investments. Additionally, Public Cloud services provide enhanced data security and reliability, which is crucial for businesses operating in Puerto Rico's hurricane-prone environment.

Trends in the market: One of the key trends in the Public Cloud market in Puerto Rico is the increasing adoption of Software-as-a-Service (SaaS) solutions. SaaS allows businesses to access software applications over the internet, eliminating the need for costly on-premise installations and maintenance. This trend is driven by the growing demand for productivity and collaboration tools, such as email and document management systems, as well as customer relationship management (CRM) and enterprise resource planning (ERP) solutions. Another trend in the market is the rising popularity of hybrid cloud deployments. Hybrid cloud combines the benefits of both Public Cloud and private on-premise infrastructure, allowing businesses to leverage the scalability and cost-efficiency of the Public Cloud while maintaining control over sensitive data and applications. This trend is driven by the need for greater flexibility and data sovereignty, as well as regulatory compliance requirements.

Local special circumstances: Puerto Rico's geographic location and vulnerability to natural disasters, such as hurricanes, make the adoption of Public Cloud services particularly attractive. The Public Cloud offers businesses in Puerto Rico the ability to store and access their data remotely, reducing the risk of data loss and downtime in the event of a natural disaster. This is especially important for businesses in industries such as healthcare and finance, where data security and availability are critical.

Underlying macroeconomic factors: The development of the Public Cloud market in Puerto Rico is also influenced by underlying macroeconomic factors. Puerto Rico has been facing economic challenges in recent years, including a high debt burden and slow economic growth. As a result, businesses in Puerto Rico are looking for cost-effective solutions to improve their operational efficiency and competitiveness. Public Cloud services offer a more affordable alternative to traditional IT infrastructure, enabling businesses to reduce their capital expenditures and operating costs. Additionally, the availability of Public Cloud services in Puerto Rico attracts foreign investment and contributes to the diversification of the local economy. In conclusion, the Public Cloud market in Puerto Rico is experiencing growth and development driven by customer preferences for flexible and scalable computing resources, the adoption of SaaS solutions, and the increasing popularity of hybrid cloud deployments. The local special circumstances, such as Puerto Rico's vulnerability to natural disasters, further contribute to the adoption of Public Cloud services. Additionally, the underlying macroeconomic factors, including the need for cost-effective solutions and the attraction of foreign investment, support the growth of the Public Cloud market in Puerto Rico.

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.