Turkey cloud computing market is flourishing owing to the increasing emphasis on customer satisfaction, and growing need for controlling operational and capital expenditures.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, expects Turkey Cloud Computing Market size to grow at a robust CAGR of 21.5% during the forecast period between 2022 and 2028. Turkey cloud computing market is booming because of the rapid digitization in organizations to update their infrastructure and application landscape to increase cost-effectiveness and business agility. Organizations can effectively support their core business operations, move business workloads to a cloud platform, and reduce network latency by implementing cloud solutions and services. Moreover, the rising popularity of innovative technologies, such as artificial intelligence (AI) and machine learning (ML) and their quick uptake in cloud computing fuel the growth of cloud computing market in Turkey. In addition, since the COVID-19 pandemic broke out, both developed and developing regions of Turkey have seen a rapid rise in technology developments. However, there are high maintenance costs associated with keeping the data on-site which may limit the market growth.
Increasing Smart Device Use and Demand for Untrusted Cloud
Over the forecast period, the increasing use of smart devices, such as smartphones, computers, and laptops to handle expanding data and better data recovery requirements is expected to drive the countrywide distributed cloud market. Furthermore, market expansion can be attributed to the increasing adoption of microservice-based software development in various industrial sectors, as well as the rising demand for data-driven technologies, such as AI and Internet of Things (IoT). It offers lucrative growth opportunities for the expansion of Turkey cloud computing market.
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High preference for hybrid cloud services
To benefit from both on-premises and cloud services, businesses with existing infrastructure are embracing cloud computing services and are prepared to employ a hybrid strategy. SMEs are adopting cloud computing services due to their numerous benefits, such as no upfront infrastructure setup fees and the availability of computing services on demand. These factors are having an impact on how businesses are using hybrid cloud services. The hybrid cloud has many benefits, including better workload management, increased security and compliance, and efficient integration within DevOps teams. Along with having the necessary scalability to outperform rivals, it offers the flexibility to switch from on-premises to the cloud or between clouds. It offers lucrative opportunities for Turkey cloud computing market during the forecast period (2022–2028).
Challenge: Cyberattacks cause critical data loss and damage to business operations
Services for cloud computing help businesses reduce costs and improve operational efficiency. These services also offer several advantages such as flexibility, scalability, and agility. Although the cloud offers several benefits and security features, the data stored there is still open to cyberattacks. Businesses are beginning to move more toward digital transformation because of the voluminous increase in data production. Cyberattacks, such as Spectre, Meltdown, cloud malware injection attacks, account or service hijacking, and man-in-the-cloud attacks put enterprise data at risk. Threats like these might force businesses to close their doors and suffer losses. It, in turn, could affect the growth of Turkey cloud computing market.
Segmental Coverage
Turkey Cloud Computing Market – By Application Type
Based on application type, Turkey cloud computing market is segmented into Small and Medium-sized Enterprises (SMEs), Large Enterprises, and Government. The large enterprises segment held the highest market share of more than 51.5%. Lower operating expenses, improved collaboration, increased flexibility, and a shorter time to market are major growth drivers for the market. Cloud computing enables businesses to delegate routine tasks to technology that can complete them more quickly. As a result, increased usage in major organizations to streamline operations is expected to aid the segment’s growth. During the forecast period, the growing number of large enterprises in Turkey would drive the demand for cloud computing services.
Impact of COVID-19 on Turkey Cloud Computing Market
Many businesses across industries have adopted the work-from-home model to protect employee well-being and maintain operational efficiency, which has increased demand for Software-as-a-Service (SaaS)-based collaboration solutions. Furthermore, well-known SaaS-based collaboration tools, such as Tencent Meeting, Google Hangouts, Cisco Webex, Slack, Zoom, and Ding Talk are gaining popularity. As a result of the country lockdowns, which have caused most people to stay at home, demand for streaming services, such as Netflix, Hulu, Amazon, Disney+, Twitch, YouTube, and Apple TV, has significantly increased. The explosion in Video-on-Demand (VoD) has increased the demand for IaaS to meet consumer demands. Businesses in Turkey are expanding their product lines to meet the changing needs of their customers.
Competitive Landscape
Leading market players in Turkey cloud computing market are Sparkle Turkey, KocSistem, ITGLOBAL.COM, VNGRS, Microsoft Corporation, Alibaba Cloud, IBM Corporation, AGMLab, Skyloop Cloud, and Orange Group. Turkey cloud computing market is highly fragmented with the presence of many companies in the country. The market leaders retain their supremacy by spending on research and development, incorporating innovative technology into their goods, and releasing upgraded items for customers. They are using various strategies, including strategic alliances, agreements, mergers, and partnerships, are used.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Turkey Cloud Computing Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Turkey Cloud Computing Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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