Multinational internet services and search-engine giant Google (NASDAQ: GOOGL) has recently constructed plans to join forces with Saudi Arabia's oil giant Saudi Aramco in order to build a cloud market in the area. A cloud market can be defined as a collection of cloud computing services that run on the same online infrastructure.
In this collaboration between Aramco and Google Cloud, Google intends to prepare a "cloud region" where specific cloud services can be provided. The combined services intend to reach a market valuation of around $10 billion by the year 2030. When asked regarding the strength of the collaboration, Aramco said that the "agreement with Google will deliver high performance, low-latency cloud services to enterprise customers in Saudi Arabia."
When Google was inquired regarding the nature of the agreement, it said that it would permit businesses to thrive and "scale their offerings into the kingdom." Since there is such a strongly increased need for media to be used, Google Cloud services will be more likely to deliver viable answers in order to meet high demands from customers.
An increased level of dependence on online media during the COVID-19 pandemic has caused many companies to invest in services such as this.
Although Google has large competitors in the world of cloud-sharing services--with rivals including Amazon Web Services (NASDAQ: AMZN) and Microsoft Azure (NASDAQ: MSFT)--running across 24 regions and 73 zones, it is predicted to nevertheless have a strong collaboration with Aramco.
Since the nature of technology in Saudi Arabia has changed considerably with the establishment of the Google Cloud, the project has the ability to make technological solutions and data available to consumers much easier and more accessible.
The Google Cloud is innovative and ultimately desires to work with Aramco in order to cause Saudi Arabians to "offer its customers multiple solutions, including artificial intelligence, smart analytics, data management, security, infrastructure, and application modernization."