Middle East & Africa Core Banking Solution Market, by Services, 2017-2025
| Label | North America | Europe | Asia-Pacific | Middle East and Africa | South America |
|---|---|---|---|---|---|
| 2019 | 117.7 USD Mn | 57.8 USD Mn | 42.2 USD Mn | 9.8 USD Mn | 12.2 USD Mn |
| 2020 | 146.7 USD Mn | 72.6 USD Mn | 54.2 USD Mn | 12.3 USD Mn | 15.2 USD Mn |
| 2021 | 187.4 USD Mn | 93.5 USD Mn | 71.3 USD Mn | 15.8 USD Mn | 19.5 USD Mn |
| 2022 | 234.4 USD Mn | 117.9 USD Mn | 91.9 USD Mn | 19.9 USD Mn | 24.4 USD Mn |
| 2023 | 289.2 USD Mn | 146.6 USD Mn | 116.9 USD Mn | 24.6 USD Mn | 30.2 USD Mn |
| 2024 | 343.6 USD Mn | 175.8 USD Mn | 143.2 USD Mn | 29.5 USD Mn | 36.1 USD Mn |
| 2025 | 395.8 USD Mn | 204.2 USD Mn | 170.2 USD Mn | 34.2 USD Mn | 41.7 USD Mn |
| 2026 | 446.8 USD Mn | 232.7 USD Mn | 198.2 USD Mn | 38.9 USD Mn | 47.3 USD Mn |
| 2027 | 496.8 USD Mn | 261.2 USD Mn | 227.5 USD Mn | 43.5 USD Mn | 52.8 USD Mn |
| 2028 | 546.5 USD Mn | 290.2 USD Mn | 258.4 USD Mn | 48.3 USD Mn | 58.3 USD Mn |
| 2029 | 591.3 USD Mn | 317.1 USD Mn | 288.7 USD Mn | 52.6 USD Mn | 63.4 USD Mn |
| 2030 | 629.4 USD Mn | 341.1 USD Mn | 317.5 USD Mn | 56.5 USD Mn | 67.9 USD Mn |
Data Source: Wantstats Repository
Growth Outlook
- The Public Cloud Market , By Region market is on a steady long-term growth path. Segment value stands at roughly USD 964 Mn in 2026 and is projected to reach USD 1412 Mn by 2030 — a gain of about 47% over the forecast period, translating to a CAGR in the double digits.
- Public cloud market is one of the fastest growing segments in the information technology industry. It refers to the delivery of computing resources, including servers, storage, databases, and software, over the internet to users on a subscription basis.
- What the regional split looks like (2026): North America leads, holding roughly 46% of segment value — the single largest regional share. Europe is the second-largest contributor. Asia-Pacific, South America and Middle East and Africa make up the remainder, in descending order.
- By 2030, North America alone is expected to reach USD 629 Mn, with Europe at USD 341 Mn.
Market Dynamics
Public cloud market is one of the fastest growing segments in the information technology industry. It refers to the delivery of computing resources, including servers, storage, databases, and software, over the internet to users on a subscription basis. This model has gained immense popularity in recent years, as it offers major benefits such as cost-effectiveness, scalability, and flexibility to businesses. The demand for public cloud services is booming across the globe. In North America, the United States leads the market, followed by Canada and Mexico. The region is experiencing a significant adoption of cloud-based solutions by businesses of all sizes, owing to the presence of major players such as Amazon Web Services, Microsoft, and Google. These companies have a strong foothold in the market and are continuously investing in research and development to offer advanced and innovative public cloud solutions. Europe is another region with a high demand for public cloud services. The United Kingdom, Germany, and France are the major contributors to the market in this region. The region has a large number of small and medium-sized enterprises (SMEs) that are leveraging the benefits of public cloud solutions for their day-to-day operations.
Furthermore, the European Union’s General Data Protection Regulation (GDPR) has also played a significant role in the adoption of public cloud services, as it mandates strict regulations for the handling of personal data. In the Asia Pacific region, countries such as China, Japan, and India are witnessing a rapid growth in the public cloud market. The increasing government initiatives for digital transformation, rising adoption of mobile devices, and the booming e-commerce industry are some of the key factors driving the demand for public cloud services in this region. Latin America and the Middle East and Africa are also emerging regions in the public cloud market, with Brazil and the United Arab Emirates being the major contributors. These regions are witnessing a growing demand for public cloud solutions due to the increasing number of startups and SMEs, along with the growing digital transformation in various sectors. In conclusion, the demand for public cloud services is on the rise in every region, driven by the increasing adoption of digital technologies, rising data storage requirements, and the advantages offered by cloud computing.
As businesses continue to realize the potential of public cloud services in improving their operations and reducing costs, the market is expected to witness further growth in the coming years.
Research Methodology
Figures reflect Wantstats’ original market research and forecasting models, compiled as part of the Wantstats research archive and published in 2024.
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