The Turkey Cloud Computing Market is estimated to grow at a higher CAGR over the forecast period (2022-2029).
The factors driving growth of the Turkey Cloud Computing Market includes growing demand for cloud computing services across IT & Telecom, BFSI and, healthcare industries, commercialization of 5G technology, huge volumes of data generated by companies, rise in the percentage of people using Internet across Turkey and improvements in the living standards. Moreover, growing adoption of advanced technologies such as Artificial Intelligence (AI), Internet of Things (IoT) and Machine Learning (ML) by enterprises, proliferation of smart devices, developments in the telecommunication infrastructure, are some of the additional factors supplementing the market growth in the coming years. In addition, the increasing investments by leading players on research and development, rise in the launch of innovative products, rapid urbanization, and growing population growth rates, are further contributing towards the market growth.
However, growth of the Turkey Cloud Computing Market is hindered due to rising concerns related to cyber-attacks.
Based on Service Model, the Software as a Service segment is predicted to expand at a significant CAGR during the forecast period
Software as a service model eliminates large-up front licensing fees and huge capital costs and is easy to maintain, are some of the features propelling segment’s growth.
Based on Organization Size, the Large Enterprises segment is projected to grow at a remarkable CAGR over the forecast period
As per the Turkey Cloud Computing Market Research Report, cloud computing service helps in enhancing flexibility, reduces operational costs and streamlining operations, are some of the factors pushing growth of the segment.
Based on End Use, the BSFI segment is anticipated to capture the largest market share during the forecast period
Increase in the number of banking activity across Turkey, Government initiatives promoting digital transformation, cloud computing services reduces operational expenses and are increasingly used to store and administer consumers data, are some of the important factors augmenting growth of the segment.
Key Development
- In 2018, Alibaba.com decided to expand its business operations in Turkey alongside E-Glober, the only authorized agent and business partner of the Alibaba.com in Turkey. Through this expansion, the company plans to provide a compelling offering to meet the digitalization and international expansion needs of local companies.
Market Segmentation
Segmentation by Service Model
- Infrastructure as a Service
- Platform as a Service
- Software as a Service
Segmentation by Deployment Model
- Public Cloud
- Private Cloud
- Hybrid Cloud
Segmentation by Organization Size
- Small and Medium-Sized Enterprises
- Large Enterprises
Segmentation by Workload
- Storage, Backup, and Disaster Recovery
- Application Development and Testing
- Database Management
- Business Analytics
- Integration and Orchestration
- Enterprise Resource Management
- Collaboration and Content Management
Segmentation by Industry Verticals
- Banking, Financial Services and Insurance
- IT and Telecommunications
- Government and Public Sector
- Retail and Consumer Goods
- Manufacturing
- Energy and Utilities
- Media and Entertainment
- Healthcare and Life Sciences
- Others
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