Public Cloud - Uruguay

Uruguay

Revenue in the Public Cloud market is projected to reach US$352.80m in 2024.
Infrastructure as a Service dominates the market with a projected market volume of US$121.50m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 18.52%, resulting in a market volume of US$825.20m 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 Uruguay is experiencing significant growth, driven by factors such as increasing adoption of digital technologies, rising awareness about cloud services, and the convenience offered by online platforms. The considerable growth rate is also impacted by the various sub-markets, such as Infrastructure, Platform, Software, Business Process, Desktop, and Disaster Recovery as a Service.

Customer preferences: As digitalization continues to advance in Uruguay, consumers are increasingly relying on public cloud solutions for their data storage and management needs. This trend is driven by the need for secure and flexible data access, especially among small and medium-sized businesses. Additionally, the rise of remote work and virtual collaboration has also contributed to the growing adoption of public cloud services in the country.

Trends in the market: In Uruguay, the Public Cloud Market is experiencing a surge in demand for cloud-based solutions, with companies across various industries adopting cloud computing to streamline operations and reduce costs. This trend is expected to continue, as the government is promoting digital transformation and modernization efforts. Furthermore, the rise of remote work due to the COVID-19 pandemic has further accelerated the adoption of public cloud services. This presents significant opportunities for industry stakeholders, such as cloud service providers and IT companies, to tap into the growing market and offer innovative solutions to meet the increasing demand for cloud-based services. However, this trend also brings potential challenges, such as data privacy and security concerns, which must be addressed to ensure the sustainable growth of the Public Cloud Market in Uruguay.

Local special circumstances: In Uruguay, the Public Cloud Market is growing due to the country's strong IT infrastructure and government support for digital transformation. With a high level of internet penetration and a tech-savvy population, Uruguayan businesses are increasingly adopting cloud solutions for their operations. Additionally, the country's stable political and economic environment makes it an attractive market for foreign cloud providers. However, strict data privacy laws and regulations may pose challenges for companies operating in the public cloud market in Uruguay.

Underlying macroeconomic factors: The Public Cloud Market in Uruguay is heavily influenced by macroeconomic factors such as global economic trends, national economic health, and fiscal policies. As the country continues to recover from the economic crisis of the early 2000s, it has seen significant growth in its IT sector, which has positively impacted the Public Cloud Market. Additionally, government initiatives to promote digital transformation and investments in infrastructure have also contributed to the growth of the market. However, challenges such as limited funding and regulatory barriers may hinder the market's growth. Furthermore, the increasing adoption of digital solutions in various industries and the growing demand for cost-effective and scalable computing resources are expected to drive the growth of the Public Cloud Market in Uruguay.

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.