North Africa Cloud Managed Services Market will grow at a CAGR of 19.1% and be a US$3,248.8 million market by 2020 — up from the current US$1,353.4 million — as per a new market report, “North Africa Cloud Managed Services Market by Service Types (Business Services, Network Services, Security Services, Data Center Services, Mobility Services) – Global Forecast to 2015 – 2020”, published by MarketsandMarkets.
The report analyses market sizes and revenue forecasts across different countries such as Morocco, Algeria, Tunisia, and Rest of North Africa (Egypt & Libya).
The coming years will see an intensification of political, economic, and social reforms in countries such as Algeria, Egypt, and Morocco. The resultant growth fuelled in various industrial sectors is likely to allow managed service providers to cater to the increasing needs of organizations operating in the country. Various MNCs are firmly establishing themselves in Morocco, hiring the country’s large talent base and using its close proximity to Europe to create an excellent environment to support work from European organizations at cost-competitive rates.
The ICT trends in in the region suggest an increased adoption of cloud technologies and services by SMBs due to heavy influence from the Eurozone. The European and North African regional SMB cloud market is expected to grow over US$25 Billion in 2015 at a CAGR of over 25-30%. Hence, the SMB cloud market in the region could be classified as an emerging market. The foreign capital investments in North Africa increased from US$10 Billion to US$26 Billion in 2015. This factor could be a major indicator of the increased scope of ICT in the region and the issuing need for managed services in the North African countries.