The Latin America, Middle East and Africa Community Cloud Market would witness market growth of 31.6% CAGR during the forecast period (2024-2031).
The Brazil market dominated the LAMEA Community Cloud Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $931.2 million by 2031. The Argentina market is showcasing a CAGR of 32.6% during (2024 - 2031). Additionally, The UAE market would register CAGR of 31.2% during (2024 - 2031).
Internet of Things (IoT) deployments generate vast amounts of data from connected devices, sensors, and endpoints. Community cloud platforms offer scalable and elastic infrastructure that can accommodate the massive volumes of data generated by IoT devices.
Moreover, according to the Australian Research Council, the estimated number of linked devices were 29 billion, of which about 18 billion were expected to have been connected to the Internet of Things (IoT) by 2022. In Australia alone, there were an estimated 16 million IoT devices in 2018.
Many countries in the LAMEA region have implemented data protection laws and cybersecurity regulations to safeguard sensitive information. Community cloud providers that adhere to these regulations offer businesses a secure and compliant environment to store and process their data, facilitating adoption, particularly in industries with strict compliance requirements. The International Trade Administration (ITA) claims that the cybersecurity sector in the UAE is expected to grow to a value of $4.51 billion by 2025. Experts expect the UAE cybersecurity industry to grow by 11.1% a year between 2020 and 2026.
Free Valuable Insights: The Worldwide Community Cloud Market is Projected to reach USD 41.8 Billion by 2031, at a CAGR of 28.9%
Based on Component, the market is segmented into Hardware (Networking, Storage, and Server), Software (Enterprise Application Software, Business Intelligence & Dashboard, and Collaboration Tool Software), and Services. Based on Application, the market is segmented into Cloud-based Storage, Cloud Backup & Recovery, Cloud Security & Data Privacy, and Others. Based on End-use, the market is segmented into BFSI, Government, Healthcare, IT & Telecommunication, Education, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
By Component
By Application
By End-use
By Country
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