The Egypt Cloud Computing market is estimated to grow at a higher CAGR over the forecast period (2020-2027).
The factors driving growth of the Egypt Cloud Computing market includes increase in the number of Healthtech start-ups across Egypt such as Smart Medical Services, Yodawy and Rology, Government initiatives to build Data center clusters, growing popularity of video streaming platforms and improvements in the living standards. According to the report published by Trescon Cloud, the Ministry of Communications, and Information Technology (MCIT) in Egypt is planning to build a giant Data center cluster, located at the 60,000m2 Borg El Arab Technology Park, which will accelerate the Egypt Cloud Computing Market share in the approaching years. Moreover, growing adoption of advanced technologies such as Artificial Intelligence (AI), Machine Learning (ML) and Internet of Things (IoT), commercialization of 5G technology, rising emphasis on digital transformation and rapid urbanization, are some of the additional factors supplementing the market growth. In addition, the increasing investments by leading players on research and development, strategic collaborations between enterprises, rise population growth rates and growing disposable incomes, are further contributing towards the market growth.
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However, growth of the Egypt Cloud Computing market is hindered due to rising concerns related to cyber-attacks.
Based on Service Model, the Software as a Service segment is predicted to capture the largest market share during the forecast period
Growing adoption of Cloud computing services to eliminate high up front licensing fees and huge capital costs, is pushing segment’s growth.
Based on Organization Size, the Small and Medium-Sized Enterprises segment is projected to grow at a significant CAGR over the forecast period
Cloud computing services helps small and medium enterprises to eliminate repetitive operations, prioritize work, and enhance team collaboration, is propelling growth of the segment.
Based on Industry Verticals, the Banking, Financial Services, and Insurance is anticipated to expand at a remarkable CAGR during the forecast period
Rising focus by banks on reducing operational costs and enhance consumer’s experience along with growing adoption of advanced technologies such as Machine Learning (ML), Blockchain and Internet of Things (IoT), are some of the important factors augmenting the segment’s growth.
Key Development
- In 2020, VMware, Inc., inaugurated its first office in Egypt to help the country in driving digital transformation across various industries such as education, healthcare, government, and other sectors, with respect to Egyptian government’s ambitious Vision 2030 agenda.
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-Sized Enterprises
- Large Enterprises
Segmentation by Workload
- Storage, Backup, and Disaster Recovery
- Application Development and Testing
- Database Management
- Business Analytics
- Integration and Orchestration
- Enterprise Resource Management
- Collaboration and Content Management
Segmentation by Industry Verticals
- Banking, Financial Services and Insurance
- IT and Telecommunications
- Government and Public Sector
- Retail and Consumer Goods
- Manufacturing
- Energy and Utilities
- Media and Entertainment
- Healthcare and Life Sciences
- Others
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