South Africa Cloud Computing Market Size Zooming 3.7X During Forecast Period to Touch USD 11.56 Billion by 2029

Published | 29 December 2023

South Africa Cloud Computing Market is gaining traction because of the increasing demand for data storage and processing and rising number of fiber and wireless connectivity services roll outs.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the South Africa Cloud Computing Market size at USD 3.12 billion in 2029. During the forecast period between 2023 and 2029, BlueWeave expects the South Africa Cloud Computing Market size to boom at a robust CAGR of 24.4% reaching a value of USD 11.56 billion by 2029. Rapid adoption of advanced technologies, including artificial intelligence (AI), the Internet of Things (IoT), and machine learning (ML), as well as the increased need for data storage and processing across numerous industries, are major growth factors for the South Africa Cloud Computing Market. Cloud computing is cost-effective for organizations, as they only pay for the cloud services they want, instead of spending on IT infrastructure and operating costs. Cloud computing also offers better productivity as it eliminates the need for assembling, racking, and stacking IT components. Cloud computing is entering the maturity stage, with many more companies embracing a cloud-first strategy.

Opportunity: Increasing adoption of cloud computing across industries

South African banks, insurance firms, airlines, and airports are migrating their data and IT systems to virtual servers and closing down expensive self-operated data centers. The country’s telecommunications corporations like MTN Group are also investing in cloud services. In March 2023, MTN stated that the core service for its 5G service had been installed on Microsoft's cloud platform Azure. Old Mutual of South Africa shut down its physical data centers to migrate its workloads nearly entirely to the cloud. At TechCabal's Moonshot conference, Ecobank's Head of Consumer Payments, Osahon Akpata, stated that the pan-African bank was gradually shifting assets to cloud platforms. These shifting trends are expected to provide significant growth opportunities for the companies in the South Africa Cloud Computing Market.

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South Africa Cloud Computing Market – By Enterprise Size

Based on enterprise size, the South Africa Cloud Computing Market is segmented into large enterprises and small and medium-sized enterprises (SMEs). The large enterprises segment accounts for a higher share of the market by enterprise size. The growth of large enterprises segment is mainly attributed to the expanding remote working culture. Large enterprises may use cloud computing to automate mundane processes and finish them more quickly. Large corporations are projected to use this technology to streamline procedures, which is anticipated to fuel the growth of the cloud computing market in South Africa.

Impact of Escalating Geopolitical Tensions on South Africa Cloud Computing Market

The escalating geopolitical tension is hindering the growth of the South Africa cloud computing market. For instance, the Israel-Hamas conflict is directly influencing the adoption and implementation of cloud computing in the South Africa market. The adoption of cloud computing involves hardware, such as sensors and servers. Israel is a leading chip producer outside of East Asia as well as a research hub for advanced technologies. The ongoing Israel-Hamas conflict has had an adverse effect on semiconductor chip manufacture and supply. Due to the disastrous scenario and a lack of financial resources as well as staff to undertake the operations, R&D efforts were entirely suspended with the onset of war between the two countries.

Competitive Landscape

Major players operating in the South Africa Cloud Computing Market include SAP Africa, IBM, Microsoft, HP, Dimension Data, T-Systems, Accenture, MTN Group, Amazon Web Services, and Wipro. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Don’t miss the business opportunity in the South Africa Cloud Computing Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and the South Africa Cloud Computing Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the South Africa Cloud Computing Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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