Public Cloud - Singapore

Singapore

Revenue in the Public Cloud market is projected to reach US$7,481.00m in 2024.
Platform as a Service dominates the market with a projected market volume of US$2,725.00m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 18.13%, resulting in a market volume of US$17,210.00m by 2029.
The average spend per employee in the Public Cloud market is projected to reach US$2,023.00 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 Singapore has been experiencing significant growth in recent years.

Customer preferences: Singaporean customers have shown a strong preference for Public Cloud services due to their numerous benefits. Public Cloud solutions offer scalability, flexibility, and cost-effectiveness, allowing businesses to easily adjust their resources based on demand and pay only for what they use. This has been particularly appealing to small and medium-sized enterprises (SMEs) in Singapore, as it enables them to access enterprise-level IT infrastructure without the need for significant upfront investments. Additionally, the Public Cloud provides improved collaboration and remote access capabilities, allowing employees to work from anywhere and enhancing productivity.

Trends in the market: One of the key trends in the Public Cloud market in Singapore is the increasing adoption of Software-as-a-Service (SaaS) solutions. SaaS offers ready-to-use applications and services that can be accessed over the internet, eliminating the need for businesses to invest in hardware infrastructure and software development. This trend is driven by the growing demand for productivity tools, customer relationship management (CRM) systems, and enterprise resource planning (ERP) solutions in Singapore. Companies are increasingly relying on SaaS providers to meet their software needs, enabling them to focus on their core business operations. Another trend in the market is the rising demand for cloud-based data storage and backup solutions. With the increasing volume of data generated by businesses, there is a growing need for reliable and secure storage options. Cloud storage provides a cost-effective and scalable solution, allowing businesses to store and access their data from anywhere. This trend is driven by the growing awareness of data security and the need for disaster recovery capabilities in Singapore.

Local special circumstances: Singapore's position as a global business hub and its strong digital infrastructure have contributed to the growth of the Public Cloud market. The country has a highly developed telecommunications network and advanced data centers, making it an attractive location for cloud service providers. Additionally, the government of Singapore has been actively promoting the adoption of cloud computing through various initiatives and incentives, further driving the market growth.

Underlying macroeconomic factors: The growth of the Public Cloud market in Singapore is also influenced by several macroeconomic factors. The country's strong economic growth and stable business environment have attracted multinational companies and startups, increasing the demand for cloud services. Furthermore, the COVID-19 pandemic has accelerated the adoption of cloud technologies as businesses sought to enable remote work and digitize their operations. The pandemic has highlighted the importance of cloud computing in ensuring business continuity and resilience. In conclusion, the Public Cloud market in Singapore is experiencing significant growth due to customer preferences for scalability, flexibility, and cost-effectiveness. The increasing adoption of SaaS solutions and cloud storage services are key trends in the market. Singapore's position as a global business hub, strong digital infrastructure, government support, and underlying macroeconomic factors have all contributed to the market's development.

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.