Middle East cloud apps market triples to $2.4 Bn by 2020
As Middle East organizations increasingly run business applications across multiple clouds, the region’s cloud market is set to nearly triple to $2.4 billion by 2020, from $887.5 Million in 2015, industry experts announced today.
CEOs across the region are accelerating multi-cloud approaches to their business applications and technology infrastructure. Different cloud providers can provide best-of-breed cloud services, help avoid cloud lock-in, and serve as a backup to cloud failure.
Driven by multi-cloud, the Middle East’s cloud applications market is set to nearly triple to USD 2.4 billion by 2020, according to a recent by Markets and Markets.
However, moving to a multi-cloud environment should be a business-led decision, rather than technology for technology’s sake, argues Condo Protego, the UAE-based IT infrastructure and information management consultancy and solutions provider.
“While the Middle East’s tripling cloud applications market shows that CEOs understand the cloud’s business benefits, they may not be fully aware that cloud migration can be a challenging process,” said Andrew Calthorpe, CEO, Condo Protego. “In digital transformation roadmaps, Middle East organizations should outline the time, costs, and resources needed to move data to the cloud, between clouds, and even off the cloud.”
According to Markets & Markets, the Middle East cloud applications market is broadly segmented by types: Customer Relationship Management (CRM), content management and collaboration, e-commerce, Human capital management (HCM), Enterprise Resource Planning (ERP), Business Intelligence (BI), and Supply Chain Management (SCM).
By verticals: Banking, Financial Services, and Insurance (BFSI), retail and wholesale, telecommunication & IT, healthcare & life sciences, government, manufacturing, resource and utilities, travel and hospitality.
By country: Kingdom of Saudi Arabia (KSA), Unites Arab Emirates (UAE), and Qatar.
Worldwide, 85% of enterprise IT organizations are committing to multi-cloud architectures in 2018, according to IDC. By 2020, the Top 5 Cloud Players Will Control at Least 75% of Combined PaaS/IaaS Market Share (Compared with Market Share of 52% in 2015), IDC added.
Separately, Veritas shows that about two-thirds (67%) of organizations are using at least two cloud service providers.
“Middle East organizations that succeed in multi-cloud environments follow a five-step approach: establishing data visibility, enabling cloud migration, leveraging software-defined storage, prioritizing data regulation and compliance, and eliminating data protection silos,” added Andrew Calthorpe.
Condo Protego is seeing strong regional demand for Veritas cloud mobility and 360 Data Management solutions that enable data and workload portability to, from, and between on-premise data centers, managed private clouds, and public clouds.