estimating the apac microsoft csp opportunity · source: idc futurescape 2017 ... asia/pacific...

1 Report commissioned by Rhipe Pty Estimating the APAC SME CSP Opportunity February 2017 Prepared by Acuitas Consulting

ESTIMATING THE APAC

MICROSOFT CSP OPPORTUNITY

February 2017

Report commissioned by Rhipe Ltd.

Prepared by: Acuitas Consulting (m) +61 (0)417 813 485 (e) [email protected]


DISCLAIMER

This report is based upon information from Rhipe Pty and publicly available information obtained from primary and secondary research deemed to be reliable. Market analyses and projections represent Acuitas Consulting’s judgement, based upon data sources cited, and are subject to the validity of the assumptions noted herein. For purposes of the analyses presented in this report, Acuitas Consulting will rely upon, and consider accurate and complete, data obtained from the sources cited, but has not independently verified the completeness or accuracy of that data. No representation or claim is made that any results projected will actually be achieved. It is expected that any third party who is given a copy of this report will conduct its own independent analysis. All estimates and projections contained in this report are based on data obtained from the sources cited and involve elements of subjective judgement and analysis, which may or may not be correct. The resulting report is not to be made available to any other person or entity without the prior written agreement of Acuitas Consulting. No third party may rely on the report provided by Acuitas Consulting. Each such third party should make its own independent investigation and examination of the facts and the risks in connection with the proposed transaction and should rely on its own independent assessment thereof. Acuitas Consulting and its affiliates, officers, directors and employees expressly disclaim any and all liability to any third party based, in whole or part, on anything contained in the report or on any information contained in any written or oral communications by them relating to the subject matter of the report. By accepting this proposal, the recipient acknowledges that the information contained in it is confidential and proprietary and agrees (i) that the disclosure of such information would result in irreparable damage Acuitas Consulting, and (ii) that it will return this report and any and all copies thereof to Acuitas Consulting upon the request of Acuitas Consulting.


SUMMARY: WORLDWIDE CLOUD PREDICTIONS Worldwide revenues from public cloud services are forecast to reach $195B in 2020

Source: IDC Futurescape 2017

Worldwide revenues from public cloud services are forecast to reach $195B in 2020, representing a CAGR of 20.4% (2015-2020)

Ø  By Product/Platform: §  SaaS represented 84% of public cloud revenue (2015), with IaaS/PaaS the remaining 17%

§  Going forward, IaaS/PaaS is forecast to grow at a fast rate than SaaS

Ø  By Geography: §  The US is the largest market with ~2/3rd of total revenues through the forecast period, followed by Western Europe and

Asia/Pacific excluding Japan (APeJ)

§  Latin American and APeJ will show the greatest growth rates although all regions are forecast to grow by over 100% in total over the next 5 years

§  APeJ is forecast to grow at CAGR 24.1% (2014-2019), reaching $10.65B in 2019

o  SaaS is forecast to grow at 18.1% CAGR to reach $4.4B (41% of spend in 2019)

o  PaaS is forecast to grow at 23.8% CAGR to reach $0.6B (6% of spend in 2019)

o  IaaS is forecast to grow at 30.3% CAGR to reach $5.6B (53% of spend in 2019)

Ø  By Industry:

§  Approximately 1/3rd of 2016 public cloud service worldwide revenues comes from discrete manufacturing, banking and professional services

§  Going forward, media, telecom and retail will show the fastest growth over the forecast period, although all the industries profiled will show revenue growth of >100% over the period to 2020


SUMMARY: WORLDWIDE CLOUD PREDICTIONS CSBs will provide 2/3rd of SMEs cloud services by 2020, and O365 will achieve a market share of >50% in SMEs operating in developed countries by 2018

Source: IDC Futurescape 2017

Cloud-based solutions will be increasingly channel mediated Ø  By 2020, 67% of Enterprise IT infrastructure and software spending will be for cloud-based offerings, and over 75% of CSB cloud

revenues will mediated by channel partners/brokers §  By 2020, at least 50% of net-new IT spending will be cloud based, shrinking non-cloud Enterprise applications by 20% §  By 2018, most CSBs outside the Top 10 will offer brokered access to their leading competitors’ cloud services §  The “cloud broker” landscape serving SMEs will become highly verticalised, offering cloud-based business services

Business Models and Monetisation - Pay as you Go/Use and subscription models increasing

Ø  By the end of 2017, 50% of software providers will offer flexible monetization approaches, e.g. consumption based pricing Ø  By the end of 2016, all organisations will have a migration plan in place to shift spending from perpetual licenses to subscription-based

pricing; to drive more cloud subscriptions, traditional software companies won’t offer additional discounts off license list prices beyond volume discounts

§  In 2017, at least 5 major software providers will announce plans to roll out new licensing programs specifically designed to simplify customer licensing

Ø  Pay-as-you-go models will account for 50% of on-premise and off-premise Physical IT and datacenter asset spending by 2018 Concentration of providers

Ø  By 2020, the Top 5 cloud players will control at least 75% combined market share of IaaS/PaaS (vs. 52% in 2015) SMEs will increasingly focus on cloud IT software solutions sourced through Cloud Service Brokers (CSB, or Cloud Service Providers such as Rhipe)

Ø  SME IT spending globally will reach a record $557B in 2017, shifting from hardware to software and solutions Ø  Cloud service brokering (CSB) will be critical for midmarket consumption of cloud services, with almost 2/3 of global SMEs choosing

CSB partners by 2020 - by 2018, MS Office 365 adoption will surpass 50% in SMEs operating in developed countries


APAC MARKET SIZE Australia represents the largest cloud computing market in APAC in 2016 (~50% of the market) although less mature Southeast Asian markets will show stronger growth through increased penetration and uptake of solutions

Source: Microsoft Worldwide Partner Conference (July 2016)


CLOUD READINESS INDEX Developed APAC markets generally more ‘ready’ to adopt cloud solutions as relevant infrastructure is more robust…

Source: Asia Cloud Computing Association “Cloud Readiness Index” (2016); BSI Global Cloud Computing Scorecard (2016)

Singapore New Zealand Australia Japan South

Korea Malaysia Philippines Thailand Indonesia

International Connectivity A prime component of physical

infrastructure required to develop competitive cloud services and enable

users to make use of int'l cloud services

6.4 4.6 4.3 3.9 3.8 3.3 3.3 3.8 1.8

Broadband Quality 9.4 8.2 8.0 8.9 9.0 7.6 5.5 8.6 6.3 Power Grid, Green Policy &

Sustainability Reflects long-term ability to supply

cloud computing services

6.5 7.6 6.6 6.7 6.3 5.4 6.0 6.0 5.4

Data Centre Risk Risk to investment in data centres

(e.g. corporate tax, labour cost, inflation, etc.)

7.8 6.8 6.3 5.9 6.2 5.9 3.5 5.2 2.7

Cyber Security 6.8 7.4 7.6 7.1 7.1 7.6 3.5 4.1 4.7 Privacy 9.0 9.0 9.5 8.0 9.0 8.0 7.5 5.0 6.0

Government Regulatory Environment and Usage

Support and promotion of technology that accommodates cloud uptake

8.6 8.1 7.4 7.8 7.0 7.4 5.5 5.1 5.6

IP Protection 8.9 8.7 8.3 8.7 6.0 7.7 5.6 4.6 6.1 Business Sophistication Ability of businesses to adopt and take advantage of efficiencies from

cloud technology

7.3 6.9 6.7 8.3 6.9 7.6 6.1 6.3 6.1

Freedom of Information 6.0 7.2 8.3 7.8 6.7 5.8 7.3 3.8 5.8 CRI 2016 Score 76.7 74.4 73.2 73.0 68.0 66.3 53.8 52.6 50.6


CLOUD READINESS INDEX …but cloud readiness is increasing in most APAC markets, making cloud solutions more viable

Source: Asia Cloud Computing Association “Cloud Readiness Index” (2012, 2014, 2016); BSI Global Cloud Computing Scorecard (2016)

70.8 67.7

72.8 78.8

76.3

63.0

44.9 46.0 47.1

76.7 74.4 73.2 73.0 68.0 66.3

53.8 52.6 50.6

0

10

20

30

40

50

60

70

80

90

Singapore New Zealand Australia Japan South Korea Malaysia Philippines Thailand Indonesia

2012 2016

Cloud Readiness Index (2012 vs. 2016)

Whilst continuing to be strong on Governmentt Regulatory Environment and Usage, South Korea’s ranking dropped in most other categories compared to other APAC markets – but it is still an attractive environment

Japan’s drop in Index score is less due to its inherent attractiveness, and more because its physical infrastructure, innovation and cloud adoption rates have not kept pace with the growth in other APAC markets


CLOUD ATTRACTIVENESS INDEX Overall, the more advanced economies of Japan, Singapore, South Korea, Australia and New Zealand are generally more attractive to CSBs, although the other APAC markets (especially Indonesia) are of significant potential size

Source: Asia Cloud Computing Association “SME Cloud Attractiveness Index” (2015)

Score Japan Singapore South Korea Australia New

Zealand Philippines Indonesia Malaysia Thailand

Addressable Market Indication of attractiveness of potential market size in the short-medium term based on # of SMEs in the market and

their readiness, awareness and capacity for accessing cloud computing

services

101.4 25.7 40.3 44.3 28.3 17.8 76.8 20.6 22.4

Early Adoption Suitability Indicates which sectors are likely to be early adopters of cloud computing, and how important those sectors are within

the overall economy

57.7 78.0 67.7 56.7 72.3 66.0 39.7 57.3 50.0

Demand Drivers Current strength of nascent demand for cloud computing across SMEs through

estimates of current take-up (particularly SaaS)

71.0 68.7 78.0 72.0 71.3 52.7 39.3 41.0 47.0

Affordability 64.7 73.0 70.7 80.3 77.7 54.3 31.3 53.0 48.7

Government and Financing Support

Institutional frameworks for supporting SMEs and whether there are already

official cloud computing (or relevant IT) promotion campaigns or market

financing programs in place

56.6 73.8 58.8 46.0 48.8 52.8 52.0 60.8 56.8

Overall Score 70.2 63.8 63.1 59.9 59.7 48.7 47.8 46.5 45.0


CLOUD ADOPTION: HIGH POTENTIAL SECTORS Service sectors show the highest near-term adoption of cloud computing

Source: Asia Cloud Computing Association “SMEs in Asia Pacific: The Market for Cloud Computing” (2015); Asia Cloud Computing Association “SME Cloud Attractiveness Index” (2015)

Top 3 Potential Industry Sectors for Cloud Computing Adoption (Sectors as defined by individual Government statistical groupings)

Market No 1 No 2 No 3

Australia Financial and Insurance Services Property and Business Services Professional, Scientific and Technical Services

Indonesia Financial Institutions Wholesale and Retail, Restaurants and Hotels

Transportation, Warehousing, Communications

Malaysia Transportation and Storage Wholesale and Retail Trade, Repair of Motor Vehicles Arts, Entertainment and Recreation

New Zealand ICT Sector Tourism Financial Services

Philippines Business Process Outsourcing Technology Start-ups Retail Services

Singapore Commerce (Wholesale and Retail) Accommodation and Food Services Property

South Korea Financial and Insurance Manufacturing (Electronics) Info and Comms, Media and Publication

Thailand Telecommunications and Finance Trade (Wholesale and Retail) Education

Japan Transport/Telecommunications Electric Machinery Manufacturing Finance/Insurance


INDIRECT CSP SME MARKET SIZING METHODOLOGY A review of available market information, as well as Rhipe management estimates, has been used to develop the CSP SME market sizing methodology

Number of SME

Employees

Share using broad

Productivity Suite

product

Unlicensed software

usage

Microsoft Office share of licensed

product

Share of O365

delivered through the

cloud

CSP Share of O365

delivered through the

cloud

Indirect share of

O365 delivered via CSP

Determine the number of

employees in SMEs in each

market, excluding

Micro SMEs (0-5

employees) to quantify the number of

employees in Rhipe’s target

market

Identify the share of SME

employees using a broad

range of online

products (at least 4 or 5)

for work purposes

Exclude employees

using unlicensed software

Determine the number of SME

users of licensed productivity suite software using Microsoft Office

2 scenarios modeled: Target

for end of Calendar Year

2017, and end of year 2020 with

increase in Microsoft share

based on current trends

Exclude Microsoft Office users who are not using the product in the

cloud

2 scenarios modeled: Target

for end of Calendar Year 2017, and end of year 2020

with increase in cloud share based on

current trends

For O365 users licensed

through the cloud, identify

the portion that are via

CSP, or “Pay As You Go”

model

Of O365 CSP users, identify the share that

are via the Indirect channel

Output of model provides Indirect CSP market size

(# seats) for O365 by market for 2017E and 2020F – the market for

which Rhipe is competing

Note: Data inputs include published data where available; where external data is unavailable, estimates based on broader industry data and Rhipe Management estimates have been used


309

17 24 12 31 6

52 33

171

624

76 104

52 69 24

90

192

395

0

100

200

300

400

500

600

700

Australia Indonesia Malaysia Philippines Singapore Thailand New Zealand South Korea Japan

2017E 2020F

TOPLINE SUMMARY: POTENTIAL O365 INDIRECT CSP SME SEATS BY MARKET The Indirect CSP market for SMEs in Rhipe’s target markets in 2017 is estimated at ~500K seats, increasing to ~1600K seats by 2020F

Source: Sources for each data set and model assumptions on future pages

Estimated Number of O365 SME seats via Indirect CSP by Market (000s)

Current Rhipe markets

Potential Rhipe markets


SME ENTITIES/EMPLOYEES IN RHIPE’S APAC MARKETS There are ~55M non-micro SME employees in APAC markets, with additional potential customers in the Large enterprise market

(1) Figure only includes businesses with 300-999 employees, as purpose of identification is to isolate SME workforce in the 300-500 employee range

Source: See “Sources” at end for market-specific sources

Estimated Number of SMEs and SME Employment by Market

Market SME Definition (by # employees

in enterprise)

All SMEs (Total, including Micro, Small and Medium Businesses)

Micro Businesses (< 5 employees)

Small and Medium SMEs (Excluding Micro Businesses)

Large Enterprises (Non-SMEs)

Number of SMEs

SME Workforce

% of All Market

Business Entities

% of Total Market

Workforce # Micro Entities

Micro Business Workforce

Number of SMEs

Small & Medium

Business Workforce

Number of Entities

Large Entity

Workforce

Australia <200 2.1M 7.2M 99% 68% 1.9M 1.9M 0.3M 5.3M 4K 4.4M

Indonesia <100 56.5M 107.7M >99% 97% 55.9M 100M 0.7M 7.8M 5K 3.2M

Malaysia <200 0.6M 6.6M 97% 66% 0.5M 2.4M 0.2M 4.2M 10K 3.5M

Philippines <200 0.8M 3.9M >99% 61% 0.7M 1.8M 0.07M 2.1M 3.5K 2.5M

Singapore <200 0.2M 2.2M 99% 70% 0.2M 0.5M 0.02M 1.7M 2K 0.8M

Thailand <200 2.7M 13.0M >99% 81% NA NA 0.01M (“Medium”)

1.0M (“Medium”) 7K 2.5M

New Zealand <100 0.5M 1.0M 98% 52% 0.5M 0.2M 0.05M 0.8M 2K 1.0M

South Korea <300 3.4M 13.1M >99% 88% 2.8M 3.8M 0.6M 7.4M 3K 1.9M

Japan <300 4.1M 33.3M >99% 62% 3.1M 8.6M 1.0M 24.7M 12K(1) 6.3M

Core near-term target for Rhipe

Smaller end of “Large” (up to 500 employees) also a target for Rhipe


SOFTWARE PIRACY Rates of software piracy are declining across key APAC countries, but must be taken into account when considering potential uptake of paid, licensed software

Source: IDC “Unlicensed Software and Cybersecurity Threats” (2015); BSA Global Software Survey “Seizing Opportunity Through License Compliance” (2016)

86%

75% 69%

58%

41% 35%

25% 22% 21%

84%

69% 67%

53%

35% 30%

20% 18% 18%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Indonesia Thailand Philippines Malaysia South Korea Singapore Australia New Zealand Japan

2009 2011 2013 2015

Unlicensed Software Rate (%, 2009-2015; includes consumer and commercial)

Commercial Value of Unlicensed Software

in 2015 ($): $1,145M $738M $431M $456M $290M $579M $66M

Implied Total Software Market

Value in 2015 ($): $1,363M $1,070M $643M $860M $2,895M $367M

Note: Software includes operating systems, systems software (e.g. databases/security packages), business applications and consumer applications (e.g. games, personal finance and reference software). Includes cloud computing services such as SaaS and PaaS.

$967M

$657M

$1,877M

The up-front payment model of traditional software licenses is often a deterrent for individuals/SMEs as the

one-time cost can be a financial burden.

As SaaS offerings increase in availability/breadth, there will likely be a continued shift away from pirated software as the SaaS cost is a significantly lower “per month” rate, allowing users/businesses to use legitimate products at a

cost-effective rate

$994M

$5,522M


SaaS PRICES Microsoft O365 is priced on par with Google Apps, it’s largest competitor, and in developed markets SaaS products are highly affordable

Source: Asia Cloud Computing Association “SMEs in Asia Pacific: The Market for Cloud Computing” (2015)

Market (Note: Price per user, per year

in local currency)

Office 365 Small Business Premium

Google Apps for Business with Vault

SaaS Price as % of GDP/capita

High Low

Australia $162 $120 0.2% 0.2%

Indonesia 1,800,000 689,820 4.5% 1.7%

Malaysia 478 382 1.8% 1.5%

New Zealand $92 $120 0.3% 0.3%

Philippines 6,600 2,200 5.4% 1.8%

Singapore $188 $150 0.3% 0.2%

South Korea 171,600 123,166 0.1% 0.1%

Thailand 2,547 3,820 3.5% 2.3%

Japan NA 6,120 0.15%

INDICATIVE

SaaS is less ‘affordable’ in developing markets (Indonesia, Philippines, Thailand and to some extent Malaysia) – this is likely driving the lower levels of cloud penetration and higher levels of piracy


SMEs USING LICENSED PRODUCTIVITY SOFTWARE Penetration of SME employees using productivity software is above ~50% in all markets, although software piracy is high in some markets

Market

SME Definition (by #

employees in enterprise)

Small and Medium

Workforce (Excluding Micro

Businesses)

Large Enterprises (Non-SMEs) – estimated at 25% of Total Large Enterprise Workforce to

account for employee figures in companies between SME definition

and 500 employees

Total SME and Smaller Large

Enterprise Employees

Percentage of SMEs Using 4 or

5 Productivity Tools

(Email, Files Sharing, Etc.)(1)

# of Seats Using

Relevant Productivity

Software (Any provider)

% Using Licensed Software

# of SME/small Large

Enterprise Seats Using

Licensed Productivity

Suite Software Total Large Enterprise Workforce

@ 25%

Australia <200 5.3M 4.4M 1.1M 6.4M 50% 3.2M 80% 2.6M

Indonesia <100 7.8M 3.2M 0.8M 8.6M 72.5% 6.2M 16% 1.0M

Malaysia <200 4.2M 3.5M 0.9M 5.1M 57% 2.9M 47% 1.4M

Philippines <200 2.1M 2.5M 0.6M 2.7M 75% 2.0M 33% 0.7M

Singapore <200 1.7M 0.8M 0.2M 1.9M 54% 1.0M 70% 0.7M

Thailand <200 1.0M (“Medium”) 2.5M 0.6M 1.6M 62.5% 1.0M 31% 0.3M

New Zealand <100 0.8M 1.0M 0.3M 1.1M 50%(2) 0.5M 82% 0.4M

South Korea <300 7.4M 1.9M 0.5M 7.9M 49% 3.9M 65% 2.5M

Japan <300 24.7M 6.3M 1.6M 26.3M 60%(2) 15.8M 82% 12.9M

(1) Microsoft “New World of Work” survey data; includes SME employees who “Bring Your Own Device” (BYOD) for work purposes – emerging economies have much higher penetration of BYOD policies, which is why the figures for emerging markets are higher than mature markets

(2) Estimated

Source: BSA Global Software Survey “Seizing Opportunity Through License Compliance” (2016); Microsoft “New World of Work” Survey (Sept 2015)


MICROSOFT O365 SHARE OF GLOBAL PRODUCTIVITY MARKET Microsoft O365 share of the global productivity suite market has increased significantly over the past years, eclipsing that of Google Apps

Source: Bitglass “4 Essential Components of O365 Security” (2016); Rhipe Management estimates

Google Apps, 22.8%

O365, 25.2%

Other, 52.0%

2015

Google Apps, 32.0%

O365, 57.0%

Other, 35.0%

2017 Estimated

Google Apps, 16.3% O365,

7.7%

Other, 76.0%

2014

Implied YOY growth rate: Ø  Google Apps: 40% Ø  Microsoft O365: 227% Ø  Others: -32%

O365 market share differs by region, but it is likely the dominant product in any region. Based on Rhipe’s estimates, O365 has a

slightly lower market share in Southeast Asia vs. Australia/New Zealand.

For modeling purposes, it is estimated that O365 share of cloud

productivity suites is 57% in ANZ and 33% in SE Asia (with the exception of Japan and South Korea, where share is assumed at

25%)


MARKET ESTIMATES: INDIRECT CSP LICENCED SEATS The Indirect CSP market for SMEs in Rhipe’s target markets in 2017 is estimated at ~500K seats, increasing to ~1600K seats by 2020F

Source: Microsoft Worldwide Partner Conference (July 2016); IDC; Rhipe Management estimates

Microsoft Share of the Productivity Suite Market Ø In 2017: Share is estimated between 25% (South

Korea and Japan) and 57% (ANZ), with the remaining markets estimated at 33%

Ø By 2020: It’s assumed that Microsoft’s share will increase to 65% in ANZ, and 57% in other APAC markets

Microsoft Cloud Share of SME O365 Ø In 2017: Microsoft total cloud share of provision

for SMEs is estimated at ~53% in APAC Ø By 2020: It is estimated this will increase to 67%

Of O365 Seats in the Cloud, it’s estimated that 50% are via CSP in both 2017 and 2020 for APAC with the following exceptions: Ø South Korea: CSP share of Cloud increases

from 20% in 2017 to 50% in 2020 Ø Japan: CSP share of Cloud increases from 10%

in 2017 to 20% in 2020

Of O365 CSP, it’s estimated that between 20% and 80% of seats are Indirect (vs. Direct) in both 2017 and 2020 Ø ANZ at 80% Indirect, both in 2017 and 2020 Ø Singapore at 50% Indirect, both in 2017 and 2020 Ø All other APAC markets at 20% Indirect in 2017,

increasing to 40% in 2020

Market

2017 Estimated O365 Seats via Indirect

CSP # of SME Seats Using Licensed

Productivity Software

Microsoft Share of

Productivity Suite Market

Microsoft SME

Users

O365 Seats via

Cloud

O365 Cloud

Seats via CSP

2017E 2020F (See assumptions noted in bubble on left

Australia 2.6M 57% 1.5M 773K 387K 309K 624K

Indonesia 1.0M 33% 0.3M 174K 87K 17K 76K

Malaysia 1.4M 33% 0.4M 238K 119K 24K 104K

Philippines 0.7M 33% 0.2M 118K 59K 12K 52K

Singapore 0.7M 33% 0.2M 126K 63K 31K 69K

Thailand 0.3M 33% 0.1M 55K 28K 6K 24K

New Zealand 0.4M 57% 0.2M 130K 65K 52K 90K

South Korea 2.5M 25% 0.6M 332K 166K 13K 192K

Japan 12.9M 25% 3.2M 1713K 856K 34K 395K

TOTAL 499K 1625K


SME ENTERPRISE/EMPLOYEE SIZE SOURCES Data sources for Micro and SME market enterprise/employee figures

Market Sources

Australia Ø  Asia Cloud Computing Association “SMEs in Asia Pacific: The Market for Cloud Computing” (2015) Ø  Australian Bureau of Statistics

Indonesia Ø  Asia Cloud Computing Association “SMEs in Asia Pacific: The Market for Cloud Computing” (2015) Ø  Indonesian Ministry of Industry “Indonesia Facts and Figures, 2015”

Malaysia Ø  Asia Cloud Computing Association “SMEs in Asia Pacific: The Market for Cloud Computing” (2015) Ø  Malaysian Department of Statistics Ø  IEEE Computer Society “Cloud Adoption in Malaysia: Trends, Opportunities and Challenges”

New Zealand Ø  Asia Cloud Computing Association “SMEs in Asia Pacific: The Market for Cloud Computing” (2015) Ø  NZ Department of Statistics Business Demography

Philippines Ø  Asia Cloud Computing Association “SMEs in Asia Pacific: The Market for Cloud Computing” (2015) Ø  Philippines Statistics Authority

Singapore Ø  Asia Cloud Computing Association “SMEs in Asia Pacific: The Market for Cloud Computing” (2015) Ø  Singapore Department of Statistics Ø  Straits Times “Some Micro SMEs gradually restructuring” (6 February 2014)

South Korea Ø  Asia Cloud Computing Association “SMEs in Asia Pacific: The Market for Cloud Computing” (2015) Ø  US Department of Commerce International Trade Administration “2016 Top Markets Reports: Cloud

Computing” (2016)

Thailand Ø  Asia Cloud Computing Association “SMEs in Asia Pacific: The Market for Cloud Computing” (2015) Ø  Office of Small and Medium Enterprise Promotion

Japan Ø  Asia Cloud Computing Association “SMEs in Asia Pacific: The Market for Cloud Computing” (2015)

estimating the apac microsoft csp opportunity · source: idc futurescape 2017 ... asia/pacific...

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