Middle East and North Africa Cloud Storage Market Analysis Share, Trends, Challenges, and Growth Opportunities in 2023-2

Overview of Middle East and North Africa Cloud Storage Market Size, Share, and Growth Forecast for 2023-28

The report aims to provide a comprehensive perspective on the Middle East and North Africa Cloud Storage Market : Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028. It offers an industry overview, including an analysis of historical and future market growth. Key parameters such as revenue, demand, and applicable supply data are highlighted. The study offers country estimates, forecasts, and trend analyses for various countries.

Reports Coverage:

Historical Data: 2018-21
Base Year: 2022
Forecast Period: 2023-28

Insights and Analysis of the Middle East and North Africa Cloud Storage Market for the Period 2023-2028:

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. The Middle East and North Africa nations are undergoing rapid digital transformation, with businesses shifting to online operations, e-commerce, and digital services. This generates vast amounts of data that require storage and management in secure and accessible cloud environments.

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Middle East and North Africa Cloud Storage Market Dynamic:

Industry Driving Factor:

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.

Segmentation Analysis of the Middle East and North Africa Cloud Storage Market for the Period 2023-2028:

Our team of analysts has carefully studied the market using various methods and calculations to create a detailed analysis. We've broken down the market into different sections and thoroughly examined each one. This in-depth exploration has helped us identify the standout performing segment in each section by closely examining various aspects of the market.

We have delved into the factors and trends driving increased activity in these specific segments. Additionally, we have identified the main market participants who are actively involved in these segments, giving us a complete understanding of their unique characteristics. Our study also includes a comprehensive view of the market's structural expansion, offering a clear framework to understand how it has evolved.

By Component
- Solution
  - File Storage
  - Object Storage
  - Block Storage
- Services
  - Consulting
  - Integration & Implementation
  - Training, Support & Maintenance
- By Deployment
  - Public Cloud
  - Private Cloud
  - Hybrid Cloud
- By Demand Type
  - Business-to-Business (B2B)
  - Business-to-Consumer (B2C)
- By Enterprise Size
  - Small & Medium Enterprises
  - Large Enterprises
- By End User
  - BFSI
  - Consumer Goods & Retail
  - Healthcare & Life Sciences
  - IT & Telecom
  - Energy & Utility
  - Others (Automotive, Media & Entertainment, etc.)
- By Country
  - Saudi Arabia
  - The UAE
  - Qatar
  - Egypt
  - Israel
  - Algeria
  - Rest of the Middle East and North Africa

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Leading Market Position in The Middle East and North Africa Cloud Storage Market

In analysing the Middle East and North Africa Cloud Storage Market, we conduct a thorough competitive benchmarking assessment involving key firms such as

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.
Others

This evaluation entails a detailed review of each company's product value, capabilities, and notable attributes. Moreover, our study encompasses recent mergers, acquisitions, and product launches by these firms, aiming to offer stakeholders valuable insights into the prevailing market dynamics.

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Middle East and North Africa Cloud Storage Market Recent Development:

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

The Middle East and North Africa Cloud Storage Market Research Report for 2023-28 addresses several key questions:

How will the growth rate of the Middle East and North Africa Cloud Storage market progress during the projected period?
What market factors will serve as the foundation for shaping client and business strategies?
Which factors are currently exerting influence, including increased demand and ongoing market advancements?
Among the studied market segments, which one’s present promising avenues for extended growth opportunities?
Which company currently holds the leading market position?

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