MENA Cloud Storage Industry Outlook from 2023 to 2033
Cloud storage revenue in MENA is estimated to increase from US$ 4,376.9 million in 2022 to US$ 4,996.7 million by 2023. Over the forecast period, MENA Cloud Storage demand is projected to rise at a CAGR of 15.2%, taking the total valuation to US$ 20,576.1 million by 2033.
Attributes
Key Insights
Base Value (2022)
US$ 4,376.9 million
Estimated Value (2023)
US$ 4,996.7 million
Projected Value (2033)
US$ 20,576.1 million
Value CAGR (2023 to 2033)
15.2%
Cloud storage is gaining immense traction across MENA, and the trend is expected to further escalate through 2033. This is because it provides users with a secure and scalable way to store and manage digital data, such as documents, files, images, and videos, on remote servers that are hosted and maintained by third-party cloud storage providers.
Cloud service providers would use virtualization and distributed storage technologies to store and manage data across multiple physical devices and locations. With rapid penetration of digitalization and novel technologies such as AI and ML, MENA is expected to remain a key region for cloud storage providers.
Several businesses and government agencies across MENA are adopting cloud-based solutions to enhance efficiency, productivity, and customer experience. This is anticipated to fuel the demand for cloud storage to store and manage large amounts of data generated.
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Other Drivers Propelling the Demand for Cloud Storage in MENA Include
Shift toward remote work and increasing collaboration
Data growth accelerating demand for cloud storage
IoT adoption to accelerate cloud storage demand in MENA
Rapid penetration of digitalization is set to boost the growth of cloud storage businesses in the United Arab Emirates and other MENA nations
Favorable government support to encourage cloud storage adoption and usage in Saudi Arabia and other MENA countries
Rise in cloud data centers in Qatar and other Middle East nations is set to create growth prospects
Expansion of cloud infrastructure in the MENA to foster growth
Increasing support from MENA Cloud Alliances will bode well for the target business
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Opportunities in the MENA Cloud Storage Business
With the rapid growth of online shopping, e-commerce businesses are generating vast amounts of transactional data, customer information, and inventory records.
Cloud storage solutions would offer the scalability, reliability, and cost-efficiency required to efficiently manage and store this data.
Retailers leverage cloud storage for secure, accessible, and centralized data management, ensuring they meet the demands of a thriving online marketplace.
As businesses and organizations in MENA increasingly rely on digital data, the risk of data loss due to hardware failures, cyberattacks, or natural disasters becomes a critical concern.
Cloud storage services would offer an efficient and secure means to back up critical data and applications offsite, ensuring data availability and recoverability.
Businesses across MENA are increasingly turning to cloud storage solutions due to their cost-effectiveness, scalability, and flexibility.
Cloud storage allows start-ups and SMEs in the MENA region to access advanced data management capabilities without requiring extensive on-premises infrastructure investments. As these businesses continue to expand, their reliance on cloud storage solutions is expected to further fuel the demand for cloud services in the MENA.
Cloud storage providers are strategically investing in data center expansion in the MENA to cater to the region's burgeoning demand for cloud services. This will bode well for the target business.
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2018 to 2022 MENA Cloud Storage Demand Outlook Compared to 2023 to 2033 Forecast
From 2018 to 2022, the sales value of cloud storage in MENA grew at a CAGR of 14.0%. Total revenue in the region reached about US$ 4,376.9 million in 2023. Over the assessment period, cloud storage solution demand in MENA will likely increase at 15.2% CAGR.
Historical CAGR (2018 to 2022)
14.0%
Forecast CAGR (2023 to 2033)
15.2%
MENA businesses are susceptible to data security and privacy. Vendors should invest in state-of-the-art security features, including encryption, multi-factor authentication, and robust access controls.
Demonstrating a commitment to data security is crucial for gaining and retaining the trust of MENA customers. Recognizing the significance of data sovereignty in the MENA region, governments and organizations in MENA place a premium on keeping data within their borders to address legal, security, and privacy concerns.
Vendors should establish data centers across MENA countries to ensure compliance with local data residency regulations. This is set to help enhance trust and attractiveness among MENA clients.
With a growing awareness of environmental sustainability in the region, cloud storage vendors should emphasize sustainable practices in data centers and infrastructure. This aligns with the region's evolving environmental priorities and differentiating factors.
Vendors should consider building partnerships with local IT companies and system integrators to expand their presence in MENA. A robust ecosystem will help users find the right solutions and support for their specific needs.
Cloud technology evolves rapidly, so vendors should commit to regular updates and innovation in their services. Staying ahead in terms of features and capabilities will likely make a vendor more attractive to businesses in the region.
Semi-annual Update
Particular
Value CAGR
H1 (2022 to 2032)
15.2%
H2 (2022 to 2032)
15.3%
H1 (2023 to 2033)
15.5%
H2 (2023 to 2033)
15.7%
Comparative View of Adjacent MENA Cloud Storage Businesses
The cloud storage business in MENA will likely be impacted by the tangential or peer businesses in the technology division. These include businesses such as digital transformation and cloud services. Knowledge of these related fields can help companies get an in-depth analysis of the overall scenario and frame their strategies accordingly.
For instance, the rising penetration of digital transformation across MENA will likely create positive growth prospects for cloud storage companies. Key players could benefit from this opportunity by offering suitable storage solutions compatible with several digital platforms.
MENA Cloud Storage Industry Analysis:
Attributes
MENA Cloud Storage Industry Analysis
CAGR (2023 to 2033)
15.2%
Sales Value (2023)
US$ 4,996.7 million
Growth Factor
Shifting preference of businesses across MENA toward cloud storage solutions to store data and reduce costs is expected to boost revenue.
Key Trend
Surging popularity of hybrid cloud storage and IoT integration are key trends in the MENA cloud storage business.
Cloud Service Demand Outlook:
Attributes
Cloud Service Demand Outlook
CAGR (2023 to 2033)
20.5%
Sales Value (2023)
US$ 678.8 billion
Growth Factor
Increasing adoption of cloud services across BFSI, IT & telecom, healthcare, and other sectors is providing an impetus for growth.
Key Trend
Rising usage of the Internet of Things (IoT) will likely uplift the demand for cloud services through 2033.
MENA Digital Transformation Industry Analysis:
Attributes
MENA Digital Transformation Industry Analysis
CAGR (2022 to 2032)
22.7%
Sales Value (2032)
US$ 38.4 billion
Growth Factor
Increasing internet penetration is expected to boost the MENA digital transformation business.
Key Trend
Growing popularity of cloud-based solutions and services will likely foster growth.
Category-wise Insights
The below section predicts the B2B cloud storage segment to retain its dominance throughout the forecast period. It is projected to progress at 15.8% CAGR through 2033.
Based on end users, the enterprises/businesses segment is set to generate a higher revenue across MENA. The target segment is poised to exhibit a CAGR of 15.8% between 2023 and 2033.
High Scalability and Strong Security Fueling Demand for B2B Cloud Storage
Growth Outlook by Storage Type
MENA Cloud Storage
B2B Cloud Storage
Value CAGR
15.8%
Based on storage type, the B2B cloud storage segment will likely retain its dominance during the forecast period. This is due to the rising adoption of B2B cloud storage solutions by several businesses to manage their data, support digital transformation initiatives, and facilitate remote work.
As per the latest MENA cloud storage industry analysis, the B2B cloud storage segment is expected to total revenue of US$ 15,873.2 million by 2033. Over the forecast period, B2B cloud storage demand in MENA is set to accelerate at 15.8% CAGR. It is predicted to hold a value share of 77.1% in 2033.
B2B cloud storage is set to be designed for organizations and businesses. Its features, such as greater scalability, compliance support, and robust security, are making it attractive for businesses across MENA. For instance, B2B cloud storage can be quickly scaled up or down to meet the evolving needs of a business.
Excellent security features are also fueling the demand for B2B cloud storage solutions. B2B cloud storage companies would offer a range of security features to protect business data. The ability of B2B cloud storage to help businesses comply with regulations will further contribute to growth.
Cloud storage providers are strategically investing in data center expansion across the Middle East and North Africa (MENA) to cater to the region's burgeoning demand for cloud services. This expansion serves as a testament to their commitment to delivering low-latency, high-availability cloud storage solutions for MENA customers.
By positioning data centers in key locations across the region, vendors ensure faster data access, reduce latency and enhance data redundancy. They are focusing on improving the quality and reliability of their cloud storage offerings.
Vendors seek to provide seamless and responsive services to businesses in the region while complying with data sovereignty requirements. This supply-side trend aligns with MENA's growing role in the global cloud storage landscape.
Key vendors are further providing integrated services that seamlessly blend on-premises infrastructure with cloud storage capabilities. By doing so, vendors empower MENA businesses to strike a balance between maintaining control over sensitive data on-site and benefiting from the scalability, flexibility, and cost-efficiency of the cloud.
The integrated services approach caters to the region's diverse IT landscapes. It enables organizations to craft hybrid strategies that suit their specific requirements, whether it's compliance, data sovereignty, or the need for rapid scalability.
Vendors offering hybrid cloud solutions is a strategic move to position themselves as comprehensive IT partners capable of meeting MENA's complex infrastructure demands. This will bode well for the performance of the target business.
Rapid Penetration of Digitalization Encouraging Adoption among Enterprises
Growth Outlook by End User
End User
Value CAGR
Consumer
13.3%
Enterprises/Businesses
15.8%
Based on end users, the enterprises/businesses segment is anticipated to create lucrative revenue-generation opportunities for leading vendors. This is attributable to the increasing usage of cloud storage solutions by BFSI, healthcare, education, retail, IT, and other businesses.
The enterprises/businesses segment is set to thrive at a prolific CAGR of 15.8% during the assessment period. It will likely hold a value share of 71.1% by 2033.
With the rapid penetration of digitalization, businesses across MENA are showing an inclination toward using cloud storage to reduce costs and improve security. This is expected to boost revenue in the region during the forecast period.
Through cloud storage, businesses can easily add or remove storage capacity as required. This scalability feature of cloud storage is acting as a catalyst fueling its demand across nations such as the United Arab Emirates, Saudi Arabia, and Egypt.
Another critical factor that is expected to drive demand for cloud storage solutions in enterprises is the high penetration of novel technologies, including AI and ML. This is because these technologies require large storage capacity, and cloud storage is well suited to meet this demand.
Cloud storage solutions are currently used by retailers, financial service companies, healthcare providers, and others in MENA. However, as cloud storage technologies continue to evolve, more innovative and creative uses of cloud storage will be seen. This is expected to boost the target segment.
The consumer segment is projected to expand at a 13.3% CAGR through 2033. MENA is experiencing significant growth in digital adoption, with an increasing number of individuals relying on digital platforms for several aspects of their lives. This includes the use of cloud storage for personal and professional purposes.
Mobile device penetration in the MENA region has been high, and several users access cloud storage services through their smartphones and tablets. Cloud storage providers often offer mobile apps, making it convenient for users to store, access, and share data on the go.
The integration of cloud storage with social media platforms is a common feature. Users in the MENA region can use cloud storage to store and share multimedia content across social media channels. This will bode well for the consumer segment.
Competitive Landscape
Key players are focusing on improving the customer experience during payments by providing novel cloud storage solutions. They are also taking into consideration the different needs and requirements of the end users and developing solutions that are tailor-made as per their needs.
Key Strategies Adopted by Renowned Players
Product Innovation
Key cloud storage vendors are concentrating on introducing new features and functionalities to address security challenges. They are rigorously investing in research and development to stay ahead.
Strategic Partnerships and Collaborations
Top cloud storage companies in MENA are forming partnerships with cybersecurity firms, technology vendors, and leaders to increase their customer base.
Expansion into Emerging Fields
Key cloud storage companies are adopting multiple strategies to expand into emerging fields. They are concentrating on establishing strategic partnerships, developing localized solutions, investing in research, and focusing on customer education and training. They are also offering flexible payment options and competitive pricing models to attract and retain customers.
Mergers and Acquisitions
Key players are implementing mergers and acquisitions to expand their offerings, acquire new technologies, and expand their customer base.
Recent Developments:
In April 2023, Google Cloud announced a collaboration with the Saudi Pharmaceutical Industries and Medical Appliances Corporation (SPIMACO). It involves one of the leading SAP enterprise resource planning (ERP) workload migration projects in Saudi Arabia’s pharmaceutical sector.
In October 2022, Microsoft Corp. and UBS expanded their partnership to speed up UBS’s public cloud footprint during the next five years.
Scope of the Report
Attribute
Details
Estimated Value (2023)
US$ 4,996.7 million
Projected Value (2033)
US$ 20,576.1 million
Anticipated Growth Rate (2023 to 2033)
15.2%
Forecast Period
2023 to 2033
Historical Data Available for
2018 to 2022
Industry Analysis
US$ million for Value
Key Countries Covered
United Arab Emirates
Saudi Arabia
Qatar
Oman
Kuwait
Rest of the Middle East
Egypt
Algeria
Morocco
Libya
Rest of North Africa
Key Segments Covered
Storage Type, End User, and Country
Key Companies Profiled
Microsoft
HPE
Google
AWS
Dropbox
Alibaba Cloud
Box
IBM
Oracle
Dell
Solid Systems
Cloudflare
Iknasoft
Cloud4C
STC cloud
Report Coverage
Sales Forecast, Company Share Analysis, Competition Intelligence, Key Dynamics and Challenges, and Strategic Growth Initiatives
Segmentation Analysis of the MENA Cloud Storage Business
By Storage Type:
B2C Cloud Storage
Less than 50 GB
50 GB to 100 GB
101 GB to 1 TB
More than 1 TB
B2B Cloud Storage
Public Cloud Storage
Private Cloud Storage
Hybrid Cloud Storage
By End User:
Consumer
Enterprises/Businesses
BFSI
Retail
IT & Telecom
Healthcare
Manufacturing
Education
Others
By Region:
Middle East
United Arab Emirates
Saudi Arabia
Qatar
Oman
Kuwait
Rest of the Middle East
North Africa
Egypt
Algeria
Morocco
Libya
Rest of North Africa
Frequently Asked Questions
How big is the MENA cloud storage business?
Total revenue in MENA is expected to reach US$ 4,999.7 million in 2023.
What is the demand outlook for MENA cloud storage?
Demand for cloud storage in MENA is set to rise at 15.2% CAGR through 2033.
How much will the MENA cloud storage business be worth by 2033?
Sales in MENA are predicted to total US$ 20,576.1 million by 2033.
Which storage type segment will witness a high growth?
B2B cloud storage is expected to rise at a steady CAGR of 15.8%.
Who is the leader in the cloud storage business across MENA?
Microsoft, Google, Apple, and Oracle are the leading MENA cloud storage companies.
What is the key trend in cloud storage across the MENA?
Integration of IoT and the growing adoption of remote work are key trends.
Table of Content
1. Executive Summary
1.1. Industry Outlook
1.1.1. B2C Cloud Storage Industry Outlook
1.1.2. B2B Cloud Storage Industry Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Business Overview
2.1. Business Coverage / Taxonomy
2.2. Business Definition / Scope / Limitations
3. Pricing Analysis
3.1. Consumer Cloud Storage Pricing, By Storage Capacity
3.1.1. By Each MENA Country
3.1.2. By Each Cloud Storage Player
3.2. Enterprise Cloud Storage Pricing Models (By Country, By Players)
3.2.1. By Subscription Model
3.2.2. By Pay-as-you-go Model
4. Regulations in MENA for Data Storage
4.1. Data Privacy Regulations
4.2. Cybersecurity Regulations
4.3. Cloud Services Regulations
4.4. Digital Transformation Policies
4.5. IT Regulations
4.6. Other regulations
5. Demand (in Value in US$ million) Analysis 2018 to 2022 and Forecast, 2023 to 2033
5.1. Historical Value (US$ million) Analysis, 2018 to 2022
5.2. Current and Future Value (US$ million) Projections, 2023 to 2033
5.2.1. Y-o-Y Growth Trend Analysis
5.2.2. Absolute $ Opportunity Analysis
6. Background
6.1. Macro-Economic Factors
6.2. Forecast Factors - Relevance & Impact
6.3. Value Chain Analysis
6.4. Key Dynamics
6.4.1. Drivers
6.4.2. Restraints
6.4.3. Opportunities
7. Industry Analysis 2018 to 2022 and Forecast 2023 to 2033, By Storage Type
7.1. Introduction / Key Findings
7.2. Historical Size (US$ million) Analysis By Storage Type, 2018 to 2022
7.3. Current and Future Size (US$ million) Analysis and Forecast By Storage Type, 2023 to 2033
7.3.1. B2C Cloud Storage
7.3.1.1. Less than 50 GB
7.3.1.2. 50 GB to 100 GB
7.3.1.3. 101 GB to 1 TB
7.3.1.4. More than 1 TB
7.3.2. B2B Cloud Storage
7.3.2.1. Public Cloud Storage
7.3.2.2. Private Cloud Storage
7.3.2.3. Hybrid Cloud Storage
7.4. Attractiveness Analysis By Storage Type
8. Industry Analysis 2018 to 2022 and Forecast 2023 to 2033, By End User
8.1. Introduction / Key Findings
8.2. Historical Size (US$ million) Analysis By End User, 2018 to 2022
8.3. Current and Future Size (US$ million) Analysis and Forecast By End User, 2023 to 2033
8.3.1. Consumer
8.3.2. Enterprises/Businesses
8.3.2.1. BFSI
8.3.2.2. Retail
8.3.2.3. IT & Telecom
8.3.2.4. Healthcare
8.3.2.5. Manufacturing
8.3.2.6. Education
8.3.2.7. Others
8.4. Attractiveness Analysis By End User
9. Industry Analysis 2018 to 2022 and Forecast 2023 to 2033, by Region
9.1. Introduction
9.2. Historical Size (US$ million) Analysis By Region, 2018 to 2022
9.3. Current and Future Size (US$ million) Analysis and Forecast By Region, 2023 to 2033
9.3.1. Middle East
9.3.1.1. United Arab Emirates
9.3.1.2. Saudi Arabia
9.3.1.3. Qatar
9.3.1.4. Oman
9.3.1.5. Kuwait
9.3.1.6. Rest of Middle East
9.3.2. North Africa
9.3.2.1. Egypt
9.3.2.2. Algeria
9.3.2.3. Morocco
9.3.2.4. Libya
9.3.2.5. Rest of North Africa
9.4. Attractiveness Analysis By Region
10. Country-wise Industry Analysis
10.1. United Arab Emirates Cloud Storage Industry Analysis
10.1.1. By Storage Type
10.1.2. By End User
10.1.3. Absolute $ Opportunity Analysis
10.1.4. Consumer Adoption Rates for Cloud Storage
10.2. Saudi Arabia Cloud Storage Industry Analysis
10.2.1. By Storage Type
10.2.2. By End User
10.2.3. Absolute $ Opportunity Analysis
10.2.4. Consumer Adoption Rates for Cloud Storage
10.3. Qatar Cloud Storage Industry Analysis
10.3.1. By Storage Type
10.3.2. By End User
10.3.3. Absolute $ Opportunity Analysis
10.3.4. Consumer Adoption Rates for Cloud Storage
10.4. Oman Cloud Storage Industry Analysis
10.4.1. By Storage Type
10.4.2. By End User
10.4.3. Absolute $ Opportunity Analysis
10.4.4. Consumer Adoption Rates for Cloud Storage
10.5. Kuwait Cloud Storage Industry Analysis
10.5.1. By Storage Type
10.5.2. By End User
10.5.3. Absolute $ Opportunity Analysis
10.5.4. Consumer Adoption Rates for Cloud Storage
10.6. Egypt Cloud Storage Industry Analysis
10.6.1. By Storage Type
10.6.2. By End User
10.6.3. Absolute $ Opportunity Analysis
10.6.4. Consumer Adoption Rates for Cloud Storage
10.7. Algeria Cloud Storage Industry Analysis
10.7.1. By Storage Type
10.7.2. By End User
10.7.3. Absolute $ Opportunity Analysis
10.7.4. Consumer Adoption Rates for Cloud Storage
10.8. Morocco Cloud Storage Industry Analysis
10.8.1. By Storage Type
10.8.2. By End User
10.8.3. Absolute $ Opportunity Analysis
10.8.4. Consumer Adoption Rates for Cloud Storage
10.9. Libya Cloud Storage Industry Analysis
10.9.1. By Storage Type
10.9.2. By End User
10.9.3. Absolute $ Opportunity Analysis
10.9.4. Consumer Adoption Rates for Cloud Storage
10.10. Other MENA Country deep-down analysis
11. Competition Analysis
11.1. Competition Dashboard
11.2. Shares of Major Cloud Service Providers
11.2.1. B2C Cloud Storage Vendors, By Country
11.2.2. B2B Cloud Storage Vendors, By Country
11.3. Competition Deep Dive
11.3.1. Business Overview
11.3.2. Cloud Storage Offering
11.3.3. Key Financials
11.3.4. Pricing Models
11.3.5. Recent Developments & Strategies
11.4. Major B2C Cloud Service Providers
11.4.1. Microsoft
11.4.2. Google
11.4.3. Apple
11.4.4. Dropbox
11.4.5. Box
11.4.6. Mobily
11.4.7. Batelco Cloud
11.4.8. NordLocker
11.4.9. IDrive
11.4.10. pCloud
11.4.11. MEGA
11.5. Major B2B Cloud Service Providers
11.5.1. Microsoft
11.5.2. HPE
11.5.3. Google
11.5.4. AWS
11.5.5. Dropbox
11.5.6. Alibaba Cloud
11.5.7. Box
11.5.8. IBM
11.5.9. Oracle
11.5.10. Dell
11.5.11. Solid Systems
11.5.12. Cloudflare
11.5.13. Iknasoft
11.5.14. Cloud4C
11.5.15. stc cloud
12. Assumptions and Acronyms Used13. Research Methodology
