System Infrastructure Software - Cyprus

The projected revenue in the System Infrastructure Software market in Cyprus is expected to reach US$14.76m by 2024.
This indicates a positive growth trend, with an estimated annual growth rate (CAGR 2024-2029) of 1.66%.
Consequently, the market volume is anticipated to increase to US$16.02m by 2029.
In global comparison, it is worth noting that United States is expected to generate the highest revenue in this market segment, with a projected revenue of US$80.08bn in 2024.
Cyprus is witnessing a surge in demand for system infrastructure software, driven by its growing tech sector and emphasis on digital transformation.

Definition:

The System Infrastructure Software market covers the type of software solutions that are designed to help manage and maintain the underlying infrastructure that supports an organization's applications and data. This includes a wide range of tools and technologies that help manage the physical and virtual infrastructure, including operating systems, middleware, virtualization, networking, storage, and security.

Products in the System Infrastructure Software market can be obtained in two ways: as on-premises software that is sold via a transactional license or a subscription and as cloud-based software (software as a service/ SaaS) that is most frequently sold as a subscription.

Examples in the System Infrastructure Software market include operating systems such as Microsoft Windows Server, Red Hat Enterprise Linux, and Ubuntu Server; virtualization software such as VMware and Hyper-V; networking software such as Cisco IOS and Junos OS; and storage software such as EMC VMAX and NetApp.

Additional Information:

The System Infrastructure Software market comprises revenue and revenue growth as the key performance indicators. Only the 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 the 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).

Key players in this market include Microsoft, RedHat, and Cisco.

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Operating system software, such as Microsoft Windows, Linux Operating System, and Apple macOS
Storage management software, such as AWS Storage Gateway, Azure Archive Storage, and Cisco UCS Manager
IT management software, such as ManageEngine OpManager, NinjaOne, and Freshservice
Security software, such as CrowdStrike, Palo Alto Networks, and Proofpoint
Consumer and enterprise spend, such as Airbase, Spendesk, and Procurify

Application development and deployment software, such as Android Studio, Microsoft Visual Studio, and Google Cloud Platform
Data management software, such as AWS, SAP Master Data Governance, and SQL Server Integration Service
Infrastructure as a service (Iaas), such as Microsoft Azure, Alibaba Cloud, and DigitalOcean
Custom applications, such as Sphinx Solutions, CHI Software, and Intellectsoft

The System Infrastructure Software market in Cyprus has been showing positive growth trends in recent years.

Customer preferences: Cyprus has a relatively small market for System Infrastructure Software, but there is a growing demand for cloud-based solutions. This is due to the increasing adoption of cloud technology by businesses in Cyprus, which has led to a shift towards more flexible and scalable IT solutions. Additionally, there is a preference for software that can integrate with existing systems and provide automation capabilities to improve efficiency.

Trends in the market: One of the key trends in the System Infrastructure Software market in Cyprus is the adoption of Software-as-a-Service (SaaS) solutions. This is due to the benefits of SaaS, such as lower upfront costs, ease of deployment, and scalability. Another trend is the increasing demand for cybersecurity solutions, as businesses become more aware of the risks of cyber attacks. This has led to a growing market for security software and services.

Local special circumstances: Cyprus is a small island nation with a relatively small market for System Infrastructure Software. However, it has a strategic location at the crossroads of Europe, Asia, and Africa, which makes it an attractive location for businesses looking to expand into these regions. Additionally, the government of Cyprus has been actively promoting the development of the country's technology sector, which has led to increased investment in IT infrastructure and services.

Underlying macroeconomic factors: The positive trends in the System Infrastructure Software market in Cyprus can be attributed to several underlying macroeconomic factors. Firstly, the country has a stable and growing economy, with a low unemployment rate and a high standard of living. This has led to increased investment in businesses and infrastructure, including IT systems and software. Additionally, Cyprus has a highly educated workforce, with a strong focus on science, technology, engineering, and mathematics (STEM) education. This has led to a pool of skilled professionals who are able to develop and implement complex IT solutions. Finally, the country's strategic location and membership in the European Union make it an attractive location for businesses looking to expand into new markets.

Data coverage:

The data encompasses B2B, B2G, and B2C enterprises. Figures are based on the allocation to the country where the money was spent at manufacturer price level (excluding VAT).

Modeling approach / Market size:

The segment size is determined through a top-down approach. We use financial statements such as annual reports, quarterly earnings, and expert opinions to analyze the markets. To estimate the segment size for each country individually, we use relevant key market indicators and data from country-specific industry associations such as GDP, level of digitization, GDP sector composition, and observed level of software piracy.

Forecasts:

We use a variety of forecasting techniques, for instance, advanced statistical methods, depending on the behavior of the relevant segment. 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.

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