Western Europe Cloud Computing Market:
Growth opportunities in the Western Europe Cloud Computing market look promising over the next six years. This is mainly due to the growing number of investments by the colocation service providers to surge the regional presence and the rising number of government initiatives to bring digital transformation across various sectors.
Western Europe Cloud Computing Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The Western Europe cloud computing market is mainly driven by the growing number of investments by colocation service providers with an aim to expand their regional presence and to meet the rising need of the end-users. In 2018, Amazon Web Services inaugurated its new cloud region in the AWS Europe region. This has promoted the SMEs and the large enterprises to move towards the adoption of cloud-based solutions in nations including Austria, Belgium, the Netherlands. The surging demand for cloud-based solutions including Infrastructure as a Service (IaaS) and Software as a Service (SaaS) solutions, has further surged the market growth. Numerous organizations and businesses are increasingly opting for cloud-based solutions to reduce the Capex cost and to improve operational efficiency.
The growing number of government initiatives to bring digital transformation across end-use industries, particularly by the government bodies, is further contributing to the market growth. In 2018, the government of France introduced the “Cloud Strategy” to encourage the adoption of cloud computing solutions. Moreover, in Belgium government adopted its new policies, such as the API First strategy for service development and a Public Cloud First strategy for service deployment. The government has also launched the G-Cloud program, which is a joint initiative of various public institutions, such as federal public services, social security institutions and healthcare centres.
In 2021, Germany and France launched the Gaia-X platform in the bid for “tech sovereignty”. This cloud initiative will allow the organization to have an alternative to Amazon Web Services and Alibaba. It is the part of the European policymaker to enhance Europe’s digital sovereignty. Numerous players in the market are focusing on building its first cloud region in countries of the Western European region. In 2020, Microsoft Corporation introduced its plan to build its first data centre in Austria to drive local innovation and growth in the country. Therefore, these factors are further driving the market growth over the coming years. On the other hand, the rising number of cyberattacks and several other digital losses in this region are hampering the growth of the cloud computing market in the Western Europe.
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