Understanding Cloud Computing Market Dynamics in Europe

Summary

The rise of the New Digital Economy is altering the dynamics of economic growth. Using cloud computing services fosters productivity and innovation by providing flexibility and scalability. It is a shift from owning ICT assets to purchasing ICT services.

Key points

• Key points:
• The evolution of cloud computing adoption in the EU-15 is similar to that of other countries in the EU. Moreover, its growth path has increased since 2016. Nearly 30% of the firms in our sample used cloud computing services in 2018.
• Supply conditions depict a concentrated market, both geographically and by number of providers, with prices falling and service quality improving.
• Policymakers and governments are interested in developing a European cloud infrastructure that allows firms and governments to store sensitive data with homegrown providers.

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