Public Cloud - Suriname

Suriname

Revenue in the Public Cloud market is projected to reach US$8,278.00k in 2024.
Software as a Service dominates the market with a projected market volume of US$5,465.00k in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 21.69%, resulting in a market volume of US$22,090.00k 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

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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Analyst Opinion

The Public Cloud market in Suriname is experiencing significant growth, driven by factors such as increasing adoption of digital technologies, rising awareness about the benefits of online services, and the convenience offered by cloud solutions. The considerable growth rate can be attributed to the country's increasing focus on digital transformation and the growing demand for cloud-based services in various industries.

Customer preferences: As Suriname continues to modernize and adopt digital technologies, there is a growing demand for public cloud solutions in various industries. This can be attributed to the shift towards remote work and digitalization of business processes. Additionally, with the rise of e-commerce and online shopping, there is an increasing need for reliable and secure cloud services to support online transactions and data storage. This trend is expected to continue as the country further embraces the benefits of the public cloud.

Trends in the market: In Suriname, the Public Cloud Market is experiencing a surge in demand for Software-as-a-Service (SaaS) solutions, as businesses seek more cost-effective and scalable options for their IT needs. This trend is expected to continue as more organizations transition to remote work and prioritize digital transformation. Furthermore, the government's push towards e-governance and the growing adoption of online education are also driving the growth of the public cloud market. This presents potential opportunities for industry stakeholders, such as cloud service providers and technology companies, to offer innovative solutions and tap into this growing market. However, it also highlights the need for robust cybersecurity measures and data protection regulations to ensure the safety and privacy of sensitive data stored in the public cloud.

Local special circumstances: In Suriname, the Public Cloud Market is still in its nascent stage due to limited internet connectivity and infrastructure. However, the government's recent initiatives to improve internet access and promote digital transformation are expected to drive the market growth. Additionally, the country's unique cultural diversity and multilingual population pose challenges and opportunities for cloud providers to cater to the diverse needs of the local market. Furthermore, regulatory barriers and data privacy concerns are key factors that influence the adoption of public cloud services in Suriname.

Underlying macroeconomic factors: The Public Cloud Market in Suriname is heavily influenced by macroeconomic factors, such as the country's economic health, fiscal policies, and global economic trends. Suriname's economy is heavily reliant on its natural resources, and as a result, fluctuations in global commodity prices can significantly impact market performance. Additionally, government policies and investments in digital infrastructure can create favorable conditions for the growth of the public cloud market. Factors such as internet penetration, regulatory support, and the availability of skilled labor also play a crucial role in shaping the market landscape. With the global shift towards digital transformation, Suriname's public cloud market is expected to continue its growth trajectory.

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.