Regional Cloud Sales Growth Expected in Coming Years

Innovation

The sales revenue of the cloud technology market used in manufacturing and trade in the Baltics and Eastern Europe will grow by an average of 16.7% annually between 2022 and 2029, according to market researcher Fortune Business Insights, writes profitline.hu.

In its study, which was prepared for Microsoft, it finds that the spread of Industry 4.0 technologies (such as 3D printing), the strong growth of e-mail marketing, online shopping, and e-commerce, plus extended and virtual technologies that apply reality will encourage the further expansion of the cloud market in the coming years.

In Hungary, the sector's growth may be even higher than the regional average; the development of B2C e-commerce was already the most prominent in the region in 2020.

Another characteristic of the domestic market is the central role of SMEs in the growth of the cloud market.

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