Nigeria: Cloud Analytics Market By Dr Kenny Odugbemi
| Image Credit: Empower Africa |
Here's an evaluation of the cloud analytics market for market for Nigeria ¹:
Market Value: The Nigeria Data Center market is valued at $308.6 million in 2023 and is expected to grow at a significant CAGR of over 10% over the forecast period of 2023-2030.
Key Players: Some of the prominent players and suppliers operating and contributing significantly to the Nigeria Data Center market growth include IBM Corp., Microsoft Corp., Amazon, MTN Business, Schneider Electric, Airtel Nigeria, Kasi Cloud, Medallion Data Centre, APC Nigeria, and Oracle Nigeria, among others.
Segmental and Market Share Analysis: Based on type, colocation has the largest market share of more than 70%. Colocation services are a significant revenue generator in Nigeria's data center business.
Cloud analytics revolutionizes data storage and analysis by harnessing the power of the cloud. By storing and analyzing data in the cloud, businesses can extract actionable insights crucial for both SMEs and large enterprises. This approach facilitates identifying patterns, predicting future outcomes, and gaining valuable insights. Cloud analytics offers an opportunity to consolidate data and convert it into actionable intelligence while reducing procurement and maintenance costs. It involves utilizing both cloud-stored data and the rapid computing power of the cloud for faster analytics. However, with cloud infrastructure, organizations gain access to scalable, secure, and efficient data storage and processing solutions, enabling them to meet our demand
The services segment in the cloud analytics market has experienced remarkable growth in the cloud analytics market, fueled by the increasing adoption of data-driven decision-making across industries. These services offer businesses the capability to analyze vast amounts of data stored in the cloud swiftly and efficiently, enabling them to extract valuable insights for strategic planning, optimization, and innovation. With the scalability and flexibility of cloud infrastructure, analytics services can accommodate diverse data types and analytical workloads, empowering organizations to derive actionable intelligence from their data in real-time. As businesses continue to prioritize agility and competitiveness, the demand for cloud analytics services is expected to soar, driving further innovation and expansion
Nigeria is experiencing a significant surge in the adoption of cloud analytics, reshaping how businesses make data-driven decisions. Companies spanning various industries are embracing cloud-based analytics platforms to optimize operations, foster innovation, and gain actionable insights. Additionally, the ubiquitous nature of mobile devices and internet connectivity has heightened the demand for real-time analytics accessible from anywhere. Governments and enterprises recognize the strategic value of harnessing analytics to maintain competitiveness in the global marketplace. Consequently, investments in cloud analytics technologies and talent development are escalating, positioning as a pivotal player in the global cloud analytics landscape.