Public Cloud - Central America

Central America

Revenue in the Public Cloud market is projected to reach €1,015.00m in 2024.
Infrastructure as a Service dominates the market with a projected market volume of €316.80m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 20.45%, resulting in a market volume of €2,573.00m by 2029.
The average spend per employee in the Public Cloud market is projected to reach €43.41 in 2024.
In global comparison, most revenue will be generated in the United States (€360.20bn 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 Central America is rapidly growing, driven by factors such as increasing demand for digital solutions, growing awareness of the benefits of online services, and the convenience of cloud-based technologies. This growth is further accelerated by the considerable growth rate of the sub-markets, including Infrastructure, Platform, Software, Business Process, and Desktop as a Service. The region's favorable business environment and government initiatives also contribute to the market's expansion.

Customer preferences: As technology continues to advance, consumers in Central America are increasingly turning to public cloud solutions for their computing needs. This trend is driven by the convenience and cost-effectiveness of cloud services, as well as the growing demand for remote work and virtual collaborations. Additionally, the rise of e-commerce and online shopping in the region has also led to a greater reliance on public cloud infrastructure for storage and processing of data.

Trends in the market: In Central America, there is a growing trend towards the adoption of public cloud services, with more businesses and organizations shifting towards a cloud-based infrastructure. This trend is driven by the need for cost-effective and scalable solutions, as well as the increasing availability of reliable internet connectivity in the region. Additionally, there is a growing demand for data analytics and business intelligence tools, which are more easily accessible through the public cloud. This trend is expected to continue in the coming years, as more businesses realize the benefits of using cloud services. However, there are also potential implications for industry stakeholders, such as the need for proper data security measures and potential challenges in integrating legacy systems with cloud solutions. Overall, the trajectory of this trend suggests that the public cloud market in Central America will continue to grow and play a significant role in the region's digital transformation.

Local special circumstances: In Central America, the Public Cloud market is experiencing rapid growth due to the region's increasing adoption of digital technologies. With a large portion of the population moving towards urban areas, there is a rising demand for cloud-based services that offer convenience and cost-effectiveness. Additionally, the region's geographical and cultural diversity has led to the development of unique regulatory frameworks that cater to the specific needs of each country. This has resulted in a dynamic market landscape with varying levels of competition among local and international cloud service providers.

Underlying macroeconomic factors: The Public Cloud Market in Central America is also affected by macroeconomic factors such as government policies and overall economic health. Countries with stable economies and favorable policies towards technology and innovation are experiencing faster growth in the market compared to those with economic challenges and limited government support. Additionally, the increasing adoption of digital transformation and the rise of remote work due to the COVID-19 pandemic have also contributed to the demand for cloud solutions 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.