Egyptian cloud computing market
The Egyptian Cloud Computing Market is estimated to grow at a Higher CAGR during the forecast period (2020-2027).
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Factors driving the growth of the Egyptian cloud computing market include increasing number of healthcare technology start-ups across Egypt such as Smart Medical Services, Yodawy and Rology, government initiatives to create data center clusters, the growing popularity of video streaming platforms and improvements in living standards. According to the report published by Trescon Cloud, the Egyptian Ministry of Communications and Information Technology (MCIT) plans to build a giant data center cluster, located in the 60,000 m2 Borg El Arab Technology Park, which will accelerate Egyptian Cloud Computing. market share in the coming years. Additionally, the increasing adoption of advanced technologies such as artificial intelligence (AI), machine learning (ML) and the Internet of Things (IoT), the commercialization of 5G technology, the growing emphasis on digital transformation and rapid urbanization, are some of the additional factors that complement the growth of the market. Furthermore, increasing investments by major players in research and development, strategic collaborations between companies, increasing population growth rates, and rising disposable incomes are further contributing to the growth of the market.
However, the growth of the Egyptian Cloud Computing market is hampered owing to the growing concerns related to cyber attacks.
Based on the service model, Software as a Service segment is expected to capture the largest market share during the forecast period
Rising adoption of cloud computing services to eliminate high upfront licensing fees and huge investment costs is driving the growth of the segment.
Based on organization size, the small and medium business segment is expected to grow at a significant CAGR during the forecast period
Cloud computing services help small and medium enterprises eliminate repetitive operations, prioritize work and improve team collaboration, propelling the growth of the segment.
Based on the industry verticals, banking, financial services and insurance are expected to grow at a remarkable CAGR during the forecast period
Banks’ increasing focus on reducing operational costs and improving the consumer experience, as well as the increasing adoption of advanced technologies such as machine learning (ML), blockchain and the internet of things (IoT), are some of the significant factors increasing the growth of the segment.
Key development
In 2020, VMware, Inc. inaugurated its first office in Egypt to help the country drive digital transformation in various sectors such as education, healthcare, government and other sectors, as part of the ambitious Egyptian government’s Vision 2030 program.
Market segmentation
Segmentation by service model
Infrastructure as a Service
Platform as a service
Software as a service
Segmentation by deployment model
public cloud
Private cloud
hybrid cloud
Segmentation by organization size
Small and medium enterprises
Large companies
Segmentation by workload
Storage, backup and disaster recovery
Application development and testing
Data base management
Business Analytics
Integration and Orchestration
Enterprise Resource Management
Collaboration and content management
Segmentation by industry
Banking, Financial Services and Insurance
IT and Telecommunications
Government and public sector
Retail and consumer goods
Manufacturing
Energy and Utilities
Media and Entertainment
Health and life sciences
Others
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