South Africa Cloud Computing Market Size, Share & Forecast 2027

 

The South Africa Cloud Computing Market is estimated to grow at a robust CAGR over the forecast period (2020-2027).

The factors driving growth of the South Africa Cloud Computing Market includes increasing internet penetration rates across South Africa, roll-out of 5G technology, rapid economic growth, rising demand for video streaming platforms such as Amazon Prime, Disney+ and Netflix and improvements in the living standards. According to the report published by Statista, the internet user penetration across South African is expected to increase from 74.17% in 2021 to 90.05% by the end of 2027, which will accelerate the accelerate the market growth in South Africa in the approaching years. Moreover, growing adoption of advanced technologies such as Artificial Intelligence (AI), Internet of Things (IoT) and Big Data Analytics, Government initiatives to promote digitalization 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, rise in the launch of new products and growing awareness about the benefits of using cloud services, are further contributing towards the market growth. 

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However, growth of the South Africa Cloud Computing Market is hindered due to rising concerns related to cyberattacks.

Based on Service Model, the Infrastructure as a Service segment is predicted to grow at a significant CAGR during the forecast period

Infrastructure as a service model enhances overall performance, reduces capital costs, and provides flexibility and scalability along with rising penetration of hybrid cloud platforms, are some of the factors propelling segment’s growth.

Based on Organization Size, the Small and Medium-Sized Enterprises is projected to grow at a robust CAGR over the forecast period

Growing adoption of cloud computing services by small and medium enterprises to enhance business operations related to financial management, project management and marketing, is pushing growth of the segment.

Based on Industry Verticals, the Banking, Financial Services, and Insurance segment is anticipated to expand at a remarkable CAGR during the forecast period

As per the South Africa Cloud Computing Market Analysis, cloud-based services offer secured storage facilities, 24*7 uptime and are increasingly used in payment gateways, digital wallets, and online fund transfer, are some of the important factors augmenting segment’s growth.

Key Developments

  • In 2021, Oracle developed its cloud region in countries including Brazil, the UAE, Saudi Arabia, Italy, Spain, France, Singapore, South Africa, Israel, among other countries.
  • In 2021, IBM and Junior Achievement (JA) South Africa launched OPEN P-TECH for Africa program which will offer South Africa’s youth with skills related to the digital era and marketplace.

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

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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