Public Cloud - Southeast Asia

  • Southeast Asia
  • Revenue in the Public Cloud market is projected to reach US$16.39bn in 2024.
  • Infrastructure as a Service dominates the market with a projected market volume of US$5.46bn in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 20.03%, resulting in a market volume of US$40.83bn by 2029.
  • 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

 
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Analyst Opinion

The Southeast Asian Public Cloud market is experiencing significant growth, driven by increasing adoption of digital technologies, growing awareness of the importance of cloud services, and the convenience they offer. This considerable growth rate is impacted by factors such as the growing sub-markets and the benefits of Infrastructure, Platform, Software, Business Process, Desktop, and Disaster Recovery as a Service.

Customer preferences:
As technology becomes more integrated into daily life, demand for public cloud services has grown in Southeast Asia. This trend is driven by a shift towards digitization and the need for remote access to data and applications. Businesses and individuals are increasingly turning to the public cloud for its convenience, scalability, and cost-effectiveness. This trend is also reflected in the rise of virtual events and online collaboration tools, as well as the adoption of e-commerce platforms for both business and personal use.

Trends in the market:
In Southeast Asia, the Public Cloud Market is experiencing a surge in demand for cloud-based solutions, driven by the region's increasing digitalization and adoption of new technologies. This trend is expected to continue as more businesses look to streamline their operations and reduce IT infrastructure costs. Additionally, there is a growing focus on data privacy and security, leading to the adoption of hybrid cloud solutions. This shift towards cloud computing has significant implications for industry stakeholders, such as cloud providers, as they will need to continuously innovate and adapt to meet the evolving needs of the market. Moreover, businesses in Southeast Asia will need to invest in training and upskilling their workforce to effectively utilize cloud technologies and stay competitive in the market.

Local special circumstances:
In Southeast Asia, the Public Cloud market is experiencing rapid growth due to the region's increasing digital transformation and adoption of cloud technologies. However, each country in the region has unique factors that impact the market. For example, in Indonesia, the market is being driven by the government's push for digitalization and the country's large population of young, tech-savvy individuals. In Malaysia, the market is influenced by the country's strong focus on innovation and its favorable regulatory environment for cloud adoption. In Vietnam, the market is seeing growth due to the country's growing e-commerce sector and the need for scalable and cost-effective cloud solutions. These local factors play a crucial role in shaping the Public Cloud market landscape in Southeast Asia.

Underlying macroeconomic factors:
The growth of the Public Cloud Market in Southeast Asia is heavily influenced by macroeconomic factors such as government policies, economic stability, and technological advancements. Countries with supportive policies and a strong economy, such as Singapore and Malaysia, are experiencing significant growth in the public cloud market. On the other hand, countries with economic challenges and limited investment in technology, such as Myanmar and Laos, are facing slower market growth. The increasing adoption of digital transformation across industries and the need for cost-effective IT solutions are also contributing to the growth of the public cloud market in the region.

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.

Overview

  • Revenue
  • Key Players
  • Analyst Opinion
  • Global Comparison
  • Methodology
  • Key Market Indicators
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