Middle East and North Africa Cloud Storage Market Growth and Development Insight - Size, Share, Growth, and Industry Analysis

Middle East and North Africa Cloud Storage Market Growth and Development Insight - Size, Share, Growth, and Industry Analysis

MarkNtel Advisors recently published a detailed industry analysis of the Middle East and North Africa Cloud Storage Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.

Middle East and North Africa Cloud Storage Market, Share, and Trends Analysis Report – Industry Overview and Forecast to 2028

The Middle East and North Africa Cloud Storage Market size is estimated to grow at a CAGR of around 18% during the forecast period, i.e., 2023-28.

What are the major Driver the Middle East and North Africa Cloud Storage industry?

Increasing Need to Provide Remote Workforce with Ubiquitous Access to Business Data Fuelling the Market Growth – The growth of the Cloud Storage Market in the Middle East and North Africa (MENA) region has been primarily driven by the increasing need to provide remote workforces with omnipresent access to business data. The COVID-19 pandemic has accelerated the adoption of remote work across the MENA, to ensure business continuity while safeguarding employee health.

As employees working from different locations surged, the requirement for seamless access to data and collaborative tools also increased. This in turn drove the need for cloud storage solutions as cloud storage solutions are required to provide a secure and accessible platform for storing and sharing files, thereby fostering collaboration.

Additionally, as remote work allows companies to tap into a broader talent pool by hiring professionals from various geographical locations, enhancing diversity and expertise, businesses are aggressively turning towards hybrid or permanent work-from-home modules in the region. For instance, in 2022, Microsoft Work Trends released an index report stating that 98% of the UAE businesses are turning to invest in hybrid workplace technology by 2024. As a result, with the growing preference for remote work among the MENA workforce, the demand for efficient data storage and transfer solutions is expected to rise, leading to an increase in the market size of cloud storage in the region.

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What segments define the Middle East and North Africa Cloud Storage Market from 2023 to 2028? How do these segments contribute to market dynamics and growth?

By Component

• Solution
• File Storage- Market Size & Forecast 2018-2028F, USD Million
• Object Storage- Market Size & Forecast 2018-2028F, USD Million
• Block Storage- Market Size & Forecast 2018-2028F, USD Million
• Services
• Consulting- Market Size & Forecast 2018-2028F, USD Million
• Integration & Implementation- Market Size & Forecast 2018-2028F, USD Million
• Training, Support & Maintenance- Market Size & Forecast 2018-2028F, USD Million

By Deployment

• Public Cloud- Market Size & Forecast 2018-2028F, USD Million
• Private Cloud- Market Size & Forecast 2018-2028F, USD Million
• Hybrid Cloud- Market Size & Forecast 2018-2028F, USD Million

By Demand Type

• Business-to-Business (B2B) - Market Size & Forecast 2018-2028F, USD Million
• Business-to-Consumer (B2C)- Market Size & Forecast 2018-2028F, USD Million

According to report, B2B cloud storage solutions experience high demand in MENA due to the region's growing business and enterprise sectors.

By Enterprise Size

• Small & Medium Enterprises- Market Size & Forecast 2018-2028F, USD Million
• Large Enterprises- Market Size & Forecast 2018-2028F, USD Million

By End User

• BFSI- Market Size & Forecast 2018-2028F, USD Million
• Consumer Goods & Retail - Market Size & Forecast 2018-2028F, USD Million
• Healthcare & Life Sciences- Market Size & Forecast 2018-2028F, USD Million
• IT & Telecom- Market Size & Forecast 2018-2028F, USD Million
• Energy & Utility- Market Size & Forecast 2018-2028F, USD Million
• Others (Automotive, Media & Entertainment, etc.) - Market Size & Forecast 2018-2028F, USD Million

According to report, Among them, the BFSI segment holds a substantial share in the Middle East and North Africa Cloud Storage Market.

Explore the Complete Middle East and North Africa Cloud Storage Market Analysis Report –  https://www.marknteladvisors.com/research-library/mena-cloud-storage-market.html

Geographical Analysis: Middle East and North Africa Cloud Storage

      By Country

• Saudi Arabia
• The UAE
• Qatar
• Egypt
• Israel
• Algeria
• Rest of the Middle East and North Africa

Middle East and North Africa Cloud Storage Market Share & Competitive Landscape:

The Middle East and North Africa Cloud Storage Market is characterized by intense competition, with several key players driving growth through innovation, market expansion, and strategic investments. The competitive landscape provides valuable insights into the industry's leading companies, highlighting their strengths, financial performance, and market influence.

Leading Companies in the Middle East and North Africa Cloud Storage Market are:

• Microsoft Corporation
• Google LLC
• Oracle Corporation
• Amazon Web Services, Inc.
• The International Business Machines Corporation (IBM)
• Alibaba Cloud
• SAP MENA LLC
• Etisalat
• STC Cloud
• Cisco Systems Inc.

The Middle East and North Africa Cloud Storage Industry Recent Development:

In 2023: Oracle announced to invest over USD1.5 Billion to boost cloud-computing capacity of the Kingdom of Saudi Arabia.

IN 2022: Amazon Web Services (AWS) expanded the availability of AWS Storage Gateway to the AWS Middle East (UAE) Region enabling customers to deploy and manage hybrid cloud storage for their on-premises workloads.

Questions Addressed in this Study

1.What factors are driving the Middle East and North Africa Cloud Storage Market growth?

2.How is the Middle East and North Africa Cloud Storage Market expected to grow over the next five years?

3.What are the key insights into the current trends in the Middle East and North Africa Cloud Storage Market?

4.What is the current size of the Middle East and North Africa Cloud Storage Market, and how is it projected to change in the future?

6.What is the future outlook for the Middle East and North Africa Cloud Storage Market in terms of technological advancements and market expansion?

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Why MarkNtel Advisors?

MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.

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