Public Cloud - Serbia

Serbia

Revenue in the Public Cloud market is projected to reach US$399.50m in 2024.
Software as a Service dominates the market with a projected market volume of US$129.30m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 21.11%, resulting in a market volume of US$1,041.00m by 2029.
The average spend per employee in the Public Cloud market is projected to reach US$123.00 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

The Public Cloud market in Serbia is experiencing considerable growth, driven by increasing adoption of digital technologies, growing awareness of the benefits of online services, and the convenience of various sub-markets. Factors such as cost-effectiveness and scalability are impacting the market's growth rate.

Customer preferences: The Serbian market has experienced a growing demand for public cloud services, driven by a shift towards digital solutions and remote work arrangements. This trend is fueled by the country's increasing adoption of technology and the need for businesses to remain agile and competitive. Additionally, the rising popularity of e-commerce and online shopping has further accelerated the demand for cloud services, as companies seek to enhance their online presence and customer experience. This shift towards digitalization is also reflected in the increasing use of cloud-based software and applications for business operations and communication.

Trends in the market: In Serbia, the Public Cloud Market is experiencing a surge in demand for Software as a Service (SaaS) solutions, with businesses increasingly turning to cloud-based services for their IT needs. This trend is expected to continue as more companies embrace digital transformation and look for cost-effective and scalable solutions. With the rise of remote work and the need for seamless collaboration, Infrastructure as a Service (IaaS) and Platform as a Service (PaaS) offerings are also gaining popularity. This shift towards cloud-based solutions not only benefits businesses by reducing IT costs and improving efficiency, but also presents opportunities for service providers to expand their market share. As the market continues to grow, it is essential for industry stakeholders to stay abreast of the latest developments and adapt to changing customer needs to remain competitive.

Local special circumstances: In Serbia, the Public Cloud Market is driven by the country's growing technology sector and government initiatives to promote digital transformation. The market is also influenced by the country's location, as it serves as a gateway to the European market. Additionally, Serbia's cultural emphasis on education and innovation has led to a highly skilled workforce, making it an attractive location for cloud computing companies. However, the market is also affected by regulatory challenges, such as data privacy laws, which can impact the adoption of public cloud services. This unique combination of factors has led to a rapidly growing and competitive public cloud market in Serbia.

Underlying macroeconomic factors: The Public Cloud Market in Serbia is heavily influenced by macroeconomic factors such as the country's economic stability, government policies, and investment in digital infrastructure. Countries with strong economic growth and favorable regulatory environments tend to have a higher demand for public cloud services, as businesses seek to streamline their operations and reduce costs. Additionally, the increasing adoption of digital technologies and the rise of e-commerce in the global market are also driving the demand for public cloud solutions, as they provide a scalable and cost-effective way to store and manage data.

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.