Dublin, Oct. 01, 2024 (GLOBE NEWSWIRE) -- The "UAE Cloud Computing Market, By Region, Competition, Forecast & Opportunities, 2019-2029F" report has been added to ResearchAndMarkets.com's offering.
UAE Cloud Computing Market was valued at USD 6.55 Billion in 2023 and is expected to reach USD 38.50 Billion in 2029 with a CAGR of 34.14% during forecast period. 
United Arab Emirates (UAE) cloud computing market has experienced significant growth and transformation over recent years, driven by a combination of government initiatives, digital transformation across various industries, and increasing adoption of advanced technologies. As one of the most technologically advanced nations in the Middle East, the UAE has positioned itself as a regional hub for innovation and technological advancement.
The cloud computing market in the UAE is characterized by the presence of major global players such as Amazon Web Services (AWS), Microsoft Azure, Google Cloud, and IBM Cloud, alongside regional providers like eHosting DataFort and du. These companies are investing heavily in the region, setting up data centers and forming strategic partnerships to cater to the growing demand for cloud services.
The UAE government's proactive approach towards digital transformation has been a significant driver of the cloud computing market. Initiatives like the UAE Vision 2021 and the Dubai Smart City project aim to foster a knowledge-based economy, enhance government services, and improve the overall quality of life through the adoption of smart technologies. These initiatives have spurred the adoption of cloud computing across various sectors, including government, healthcare, education, and retail. The government's emphasis on cybersecurity and data sovereignty has also led to the establishment of local data centers, ensuring that sensitive data is stored within the country and compliant with local regulations.
The private sector in the UAE is rapidly embracing cloud computing to enhance operational efficiency, reduce costs, and gain a competitive edge. Industries such as banking, real estate, and hospitality are leveraging cloud solutions for data storage, analytics, and customer relationship management. The flexibility and scalability offered by cloud computing enable businesses to quickly adapt to market changes and scale their operations as needed. Moreover, the COVID-19 pandemic has accelerated the adoption of cloud-based solutions as organizations shifted to remote working models and digital collaboration tools to ensure business continuity.
The UAE's strong focus on artificial intelligence (AI) and the Internet of Things (IoT) further fuels the demand for cloud computing. The UAE AI Strategy 2031 aims to position the country as a leader in AI by integrating AI into various sectors and encouraging innovation. Cloud computing serves as the backbone for AI and IoT applications, providing the necessary infrastructure for data processing, storage, and analysis. As AI and IoT adoption increase, the reliance on cloud services is expected to grow, driving further market expansion.
Despite the positive growth trajectory, the UAE cloud computing market faces challenges, such as data security concerns, regulatory compliance, and the need for skilled IT professionals. Cybersecurity remains a top priority for organizations as they move their operations to the cloud. Ensuring data protection and privacy is crucial to maintaining trust and compliance with international standards. Additionally, there is a growing demand for skilled IT professionals who can manage and optimize cloud environments. The UAE is investing in education and training programs to build a workforce capable of supporting the evolving technology landscape.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 88 |
| Forecast Period | 2023 - 2029 |
| Estimated Market Value (USD) in 2023 | $6.55 Billion |
| Forecasted Market Value (USD) by 2029 | $38.5 Billion |
| Compound Annual Growth Rate | 34.1% |
| Regions Covered | United Arab Emirates |
Report Scope:
Key Market Players
- Amazon Web Services, Inc.
- Microsoft Corporation
- Alphabet Inc.
- IBM Corporation
- Oracle Corporation
- Alibaba Group
- Salesforce, Inc.
- SAP SE
- Tencent Cloud Europe B.V.
- Broadcom Inc.
UAE Cloud Computing Market, By Deployment Model:
- Public Cloud
- Private Cloud
- Hybrid Cloud
UAE Cloud Computing Market, By Service Model:
- Infrastructure-as-a-Service
- Platform-as-a-Service
- Software-as-a-Service
- Function-as-a-Service
UAE Cloud Computing Market, By End User:
- BFSI
- Government
- IT & Telecommunications
- Retail & E-commerce
- Healthcare
- Others
UAE Cloud Computing Market, By Organization Size:
- Large Enterprises
- SMEs
UAE Cloud Computing Market, By Region:
- Abu Dhabi
- Dubai
- Sharjah
- Ajman
- Rest of UAE
For more information about this report visit https://www.researchandmarkets.com/r/tpnra5
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