MENA Cloud Data Storage Market Size By Customer Type (B2B, B2C), By Organization Size (SMEs, Large Enterprises), By Industry Verticals (BFSI, IT and Telecommunications), Geographic Scope And Forecast

MENA Cloud Data Storage Market Size And Forecast

MENA Cloud Data Storage Market size was valued at USD 3,448.24 Million in 2022 and is projected to reach USD 10,795.64 Million by 2030, growing at a CAGR of 15.27% from 2024 to 2030.

The Cloud Data Storage Market has experienced significant growth over the past decade, driven by the increasing need for data storage, backup, and data-driven decision-making. The MENA Cloud Data Storage Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

MENA Cloud Data Storage Market Definition

Cloud storage services provide traditional and cloud-native applications with a scalable, secure, and affordable home for any data. Provide and deploy services including file, block, and object storage. As needs vary, adjust capacity and improve performance. Only the cloud storage that users actually use is charged for. Cloud data storage, also known as cloud storage, refers to the practice of storing and managing data in remote servers or data centers that are hosted and maintained by third-party service providers.

These providers offer storage capacity and services accessible over the Internet, allowing individuals and organizations to store, manage, and access their data from virtually anywhere with an Internet connection. Cloud data storage has become increasingly popular for several reasons, including its flexibility, scalability, and cost-effectiveness. Cloud data storage allows users to access their data from various devices, such as computers, smartphones, and tablets, as long as they have an internet connection. This accessibility is particularly advantageous for remote work and collaboration.

MENA Cloud Data Storage Market Overview

The Cloud Data Storage Market is a dynamic and rapidly evolving sector of the broader cloud computing industry. It encompasses a wide range of services and solutions offered by various cloud service providers, catering to the storage needs of individuals, businesses, and organizations. The Cloud Data Storage Market has experienced significant growth over the past decade, driven by the increasing need for data storage, backup, and data-driven decision-making. The market is expected to continue growing as more businesses transition from on-premises data storage to cloud-based solutions.

Many organizations adopt hybrid cloud and multi-cloud strategies, combining on-premises storage with cloud storage or using multiple cloud providers to meet specific needs. This approach enhances flexibility and disaster recovery capabilities. In order to increase GDP growth, the MENA economies are also focusing on increasing investments and developing their service-based businesses. As a result, industries like BFSI and ICT are seeing greater investment. Additionally, organizations are choosing trustworthy cloud storage service providers that provide strong security measures and regulatory compliance features as a result of the region’s increased emphasis on data protection and compliance.

MENA Cloud Data Storage MarketSegmentation Analysis

The MENA Cloud Data Storage Market is segmented on the basis of Customer Type, Organization Size, Industry Verticals, and Geography.

MENA Cloud Data Storage Market, By Customer Type

• B2B
• B2C

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Based on Customer Type, the market is segmented into B2B and B2C. B2B (Business-to-Business) accounted for the largest market share of 93.07% in 2022, with a market value of USD 3,209.30 Million, and is projected to grow at the highest CAGR of 15.43% during the forecast period.

MENA Cloud Data Storage Market, By Organization Size

• SMEs
• Large Enterprises

Based on Organization Size, the market is segmented into SMEs and Large Enterprises. Large Enterprises accounted for the largest market share of 68.69% in 2022, with a market value of USD 2,368.63 Million, and is projected to grow at the highest CAGR of 16.13% during the forecast period.

MENA Cloud Data Storage Market, By Industry Verticals

• BFSI
• IT and Telecommunications
• Healthcare & Life Sciences
• Consumer Goods & Retail
• Others

Based on Industry Verticals, the market is segmented into BFSI, IT and Telecommunications, Healthcare & Life Sciences, Consumer Goods & Retail, and Others. BFSI accounted for the largest market share of 21.93% in 2022, with a market value of USD 756.16 Million, and is projected to grow at a CAGR of 14.68% during the forecast period.

MENA Cloud Data Storage Market, By Geography

• UAE
• Saudi Arabia
• Egypt
• Qatar
• Kuwait
• North Africa
• Rest of MENA

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On the basis of Geography, the MENA Cloud Data Storage Market is classified into UAE, Saudi Arabia, Egypt, Qatar, Kuwait, North Africa, and the Rest of MENA. Saudi Arabia accounted for the largest market share of 25.42% in 2022, with a market value of USD 876.64 Million, and is projected to grow at a CAGR of 16.62% during the forecast period.

Key Players

The “MENA Cloud Data Storage Market” study report will provide valuable insight with an emphasis on the market. The major players in the market are AWS, Microsoft, Google, Oracle, HPE, IBM, Mobily, Apple, Dropbox, Box, Nord locker, IDrive, pCloud, Dell, Solid Systems.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis.

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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