Public Cloud - Hungary

Hungary

Revenue in the Public Cloud market is projected to reach US$750.90m in 2024.
Software as a Service dominates the market with a projected market volume of US$370.90m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 20.74%, resulting in a market volume of US$1,927.00m by 2029.
The average spend per employee in the Public Cloud market is projected to reach US$149.10 in 2024.
In global comparison, most revenue will be generated in the United States (US$388.50bn in 2024).

Key regions: United States, Germany, China, Japan, United Kingdom

Definition:

A public cloud is defined as the digital infrastructure and computing resources that are managed by a service provider. Examples of public cloud computing resources include virtual machines, storage, and services, all of which are available for purchase with flexible (e.g., pay as you go and subscription) business models. Such payment options make it possible for customers to access, scale, and utilize resources as needed. Public cloud solutions make it possible for users to save on IT costs, increase their efficiency, and take advantage of advanced technologies without having to invest in long-term IT solutions. Public cloud service providers own and maintain the physical infrastructure, hardware, and software. Users only need to pay for the computing resources that they require. The Public Cloud market refers to the companies that provide these cloud computing resources and services to individuals, businesses, and organizations.

Structure:

The Public Cloud market is structured into five markets based on the type of service models provided by the companies.

The Infrastructure as a Service (IaaS) market covers the resources and services related to the data center infrastructure.
The Platform as a Service (PaaS) market covers the resources and services related to the virtual environments used for software development.
The Software as a Service market (SaaS) market covers the resources and services related to software applications that can be accessed via a web browser.
The Business Process as a Service (BPaaS) market covers the resources and services related to the various business processes such as finance and accounting, human resources, customer service, and supply chain management, all delivered through the cloud.
The Desktop as a Service (DaaS) market covers the resources and services related to virtual desktop environments, which are accessible from any device with an internet connection.

Additional Information:

The public cloud market comprises revenue, revenue change, average spend per employee, and key player market shares as key performance indicators. Only revenues that are generated by primary vendors at the manufacturer price level either directly or through distribution channels (excluding value-added tax) are included, and revenues generated by resellers are excluded. Revenues are generated through both online and offline sales channels and include spending by consumers (B2C), enterprises (B2B) as well as governments (B2G). Detailed definitions of each market can be found on the respective page where the market data is displayed.

Key players of the public cloud market include companies such as Amazon (Amazon web services), Microsoft (Azure), Google (Cloud), and IBM (Cloud).

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Market

Region

Region comparison

Currency

Analyst Opinion

The Public Cloud market in Hungary is experiencing significant growth and development.

Customer preferences: Hungarian businesses are increasingly adopting Public Cloud services due to the numerous benefits they offer. One of the key customer preferences is the flexibility and scalability of Public Cloud solutions. Businesses in Hungary are attracted to the ability to easily scale their IT infrastructure up or down based on their needs, without the need for significant upfront investments. This allows them to be more agile and responsive to changing market conditions. Additionally, the pay-as-you-go pricing model of Public Cloud services is highly appealing to businesses, as it allows them to only pay for the resources they actually use, resulting in cost savings and improved cost efficiency.

Trends in the market: The Public Cloud market in Hungary is witnessing a growing demand for Software as a Service (SaaS) solutions. Businesses are increasingly adopting SaaS applications for various purposes, such as customer relationship management, human resources management, and productivity tools. The ease of deployment and maintenance, as well as the ability to access these applications from anywhere, are driving the adoption of SaaS solutions in Hungary. Additionally, there is a growing trend of businesses leveraging Platform as a Service (PaaS) offerings to develop and deploy their own applications. PaaS provides businesses with the necessary tools and infrastructure to develop, test, and deploy applications quickly and efficiently.

Local special circumstances: Hungary has a rapidly growing startup ecosystem, with many innovative and tech-savvy entrepreneurs. These startups often have limited resources and require cost-effective and scalable IT solutions. Public Cloud services provide them with the necessary infrastructure and tools to develop and scale their businesses without significant upfront investments. The availability of Public Cloud services in Hungary enables startups to focus on their core competencies and accelerate their growth.

Underlying macroeconomic factors: The growing Public Cloud market in Hungary is also influenced by macroeconomic factors. The country has a strong digital infrastructure, with a high internet penetration rate and a well-developed telecommunications network. This provides a solid foundation for the adoption of cloud services. Additionally, the Hungarian government has been actively promoting the digital transformation of businesses and the adoption of cloud technologies. This support from the government, along with various initiatives and incentives, has further accelerated the growth of the Public Cloud market in Hungary. In conclusion, the Public Cloud market in Hungary is experiencing significant growth and development. Customer preferences for flexibility, scalability, and cost efficiency are driving the adoption of Public Cloud services. The trends in the market, such as the growing demand for SaaS and PaaS solutions, are shaping the landscape of the industry. The local special circumstances, including the vibrant startup ecosystem and government support, further contribute to the growth of the market. With a strong digital infrastructure and favorable macroeconomic factors, Hungary is well-positioned to continue its growth in the Public Cloud market.

Methodology

Data coverage:

The data encompasses B2B, B2G, and B2C enterprises. Figures are based on the money spent at manufacturer price level (excluding VAT).

Modeling approach / Market size:

Market sizes are determined through a top-down approach with a bottom-up validation, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and reports from our primary research. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP and level of telecommunications infrastructure. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. The main drivers are the GDP and the level of digitization.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.