Lionel Sujay Vailshery
Research expert covering cloud computing and emerging tech industries
Cloud computing in Europe - statistics & facts
Cloud computing, a globally growing market both in size and significance, delivering computing services to customers via the internet. The European cloud computing market is worth over 110 billion euros in 2023 and forecast to reach 129 billion euros by 2024. Products and services offered to customers may include computing, storage, analytics, networking, or developer tools, and can help organizations save costs and scale faster. The three main service types include software as a service (SaaS), platform as a service (PaaS), and infrastructure as a service (IaaS), each of which offers different degrees of control and responsibility to address customer needs.
European cloud providers
European cloud providers are Deutsche Telekom, OVHcloud, Orange, and numerous regional cloud and hosting companies. Spending on cloud computing is also increasing among European businesses, as they seek to accelerate their digital transformation and remain competitive. The largest share of the market, however, belongs to the three United States-based hyperscalers Amazon Web Services (AWS), Microsoft Azure, and Google Cloud, which account for more than 65 percent of the regional market.Lessening dependency on external actors
The European cloud landscape is likely to see a continued push towards reducing reliance on U.S. cloud service providers. Data security concerns, fueled by the location of European data in U.S. data centers with different regulations, will be a key driver. To achieve sovereignty over data and technological leadership, European leaders will likely prioritize investment in domestic cloud solutions and potentially leverage regulations to influence market dynamics. This focus on self-reliance could reshape the cloud adoption journey in Europe, with a potential rise of European cloud providers alongside continued growth of the overall market.
