articles | 15 December 2020

A third of businesses pay for cloud services

One in three enterprises with 10 or more employees paid for Cloud Computing services in 2020, according to a Statistical Service ICT survey.

Cloud computing in Cyprus is becoming more popular among enterprises and in 2020, 34.6% of companies with over 10 employees bought Cloud Computing services.

According to the Statistical Service, the main use of cloud computing services in enterprises is e-mail (29.8%), office software (24.9%) and storage of files (23.9%).

These three cloud computing services are the most popular in all small, medium and large businesses indicating that size does not affect the cloud computing needs of an enterprise.

High-Speed Internet connection

Almost seven out of 10 (69%) enterprises with 10 or more employees in Cyprus have an internet connection with speeds higher than 30 Mbit/s compared to 49.3% in 2019.

Over the last five years, a significant increase in high-speed internet connections has been observed.

Some 37.2% of enterprises (10+) have internet connection speeds between 30 -100 Mbit/s and nearly a third (31.8%) enjoy connection speeds greater than 100 Mbit/s.

Internet speeds lower than 30 Mbit/s have been dropping steadily over the years from 88.2% in 2015 to 26.6% in 2020.

E-Commerce Sales

In 2019, 16.4% of all enterprises received orders for goods and services via computer networks. Some 15.2% received orders for goods and services via websites or “apps” and 3.1% via EDI – type messages.

And 13,7% of all enterprises received orders for goods and services via their website or “apps” while 7% received orders via e-commerce marketplace websites or “apps” used by several enterprises for trading products.

Internet of Things (IoT)

Some 19.7% of enterprises used some kind of interconnected devices or systems (smart devices or systems) that can be monitored (controlled) via the internet (IoT). The IoT drops from 29.6% in large enterprises to 25% in medium-sized enterprises and 18.7% in small businesses.

In 2020, 24.9% of enterprises (10+) employed ICT specialists and 81.5% of large enterprises employed ICT specialists compared to 50.7% and 19.8% of medium and small enterprises respectively.

And 10.7% of all enterprises recruited or tried to recruit ICT specialists during 2019. Applicants’ lack of ICT related qualifications or relevant work experience were the two main difficulties faced by enterprises during recruitment.

Table 1
Cloud Computing Services 

(% of enterprises (10+)

E-mail   29,827,640,854,3
Office software   24,923,033,350,6
Hosting enterprise’s database   13,312,318,721,0
Storage of files   23,922,530,340,7
Finance or accounting software “Apps”   13,913,814,59,9
CRM software applications   11,110,216,713,6
Computing power to run software   7,47,19,67,4

 Source: Financial Mirror

Cooperation Partners
  • Logo for Cyprus Shipping Chamber
  • Logo for CYFA Cyprus
  • Logo for Invest Cyprus
  • Logo for Cyprus International Businesses Association
  • Logo for Love Cyprus Deputy Ministry of Tourism
  • Logo for Association of Cyprus Banks
  • Logo for Cyprus Investment Funds Association
  • Logo for Ministry of Energy, Commerce, Industry and Tourism
  • Logo for Cyprus Chamber of Commerce and Industry