Benelux Cloud Computing Market | Analysis 2019-2031

BENELUX CLOUD COMPUTING INDUSTRY SNAPSHOT

• The Benelux cloud computing market worldwide is projected to generate a revenue of US$ 15.63 billion in 2024.
• Furthermore, the value of the Benelux cloud computing market is predicted to reach US$ 27.63 million by 2031.
• The Software as a Service (SaaS) segment in the Benelux cloud computing market constituted largest market share of 58.07% in2023.
• By end user, Education sector is projected to grow at a fastest CAGR of 10.12% during forecast period, 2023-2031.

BENELUX CLOUD COMPUTING INDUSTRY SCENARIO, TRENDS, AND DEVELOPMENTS

Presently, the adoption of cloud services in the Benelux region is slightly lower than other Western European countries. As per our recent analysis, only 42% public and private organizations within the region have integrated cloud enabled services in their operations. But a significant increase in cloud adoption rate basis points (BPS) is anticipated during the forecast period owing to implementation of digital transformation programs across enterprises. For instance, our Benelux cloud computing assessment reveals, around, 40% of public and private organizations in the region have transformed their front-end apps, such as CRM systems (customer service, sales, marketing, e-commerce, etc.), to the cloud, while 42% have migrated their back-end apps such as ERP systems (human capital management, finance, and administration, etc.) over the cloud.
 

In the coming three to five years, CEOs across enterprises are planning to transform their business model which majorly operates through cloud-enabled services. In 2023, nearly one-third of organizations in the region are leveraging hybrid clouds extensively, with slightly over half employing them in limited capacities across certain business segments. Further, while executing digital transformation projects, 36% of the organizations consider hybrid cloud services as crucial, compared to 28% who prioritize private cloud and 26% who favor public cloud solutions.
 

Among industries, BSFI and IT & Telecom sector in the region have passed the initial stages of digital transformation journey. However, education, healthcare, and government sectors lags in terms of cloud adoption. Budgetary constraints is one of the major reasons for lack of cloud services adoption, further, longer IT refresh rates, and limitation on implementation of latest technologies due to regulatory and compliance issues are other key factors that are hampering the expansion of Benelux cloud computing market at present. While As per the industry experts, local telecom operators that can offer cloud computing services such as data center capacity, managed, and hosted services, in the region are expected to observe a lucrative growth opportunity during the forecast period. As enterprises in the region are aimed at utilizing local cloud services to comply with government regulations and guidelines and over the concerns of data protection and identity and access management.
 

• In March 2023, Proximus and Google signed a five-year agreement to offer–a disconnected sovereign cloud solution–i.e. Google Distributed Cloud Hosted, especially to governments, regulated enterprises, and international organizations in Belgium and Luxembourg.

BENELUX CLOUD COMPUTING MARKET COVERAGE