News Column

GCC cloud market to post seven-fold growth by 2020

August 21, 2014

The GCC's cloud computing market is set to grow from $91.7 million last year to $118.5 million by the end of 2014 year-on-year growth of 29 per cent.

As cloud computing moves from hype to the business mainstream, facilitating regional adoption of cloud technologies and virtual storage solutions will come to the fore at this year's Cloud Confex a specialist, integrated cloud exhibition and conference platform held at Gitex Technology Week, the largest ICT event in the Middle East, Africa and South Asia.

With IT research firm Frost and Sullivan predicting the global cloud market will reach more than $125 billion by the end of the year, the GCC's cloud computing market is set to grow from $91.7 million last year to $118.5 million by the end of 2014 year-on-year growth of 29 per cent.

As regional companies large and small move to transfer physical storage, backup, network, security and management systems to the virtual cloud, Frost and Sullivan predict the Gulf's cloud computing market will post seven-fold growth and expand at a CAGR of 32.8 per cent to reach $668.5 million by 2020.

The region's unique business potential will see more than 7,000 key buyers attend the Cloud Confex on October 13 the second day of Gitex Technology Week, which runs at Dubai World Trade Centre (DWTC) from October 12-16. The Cloud Confex will be held under the theme: 'Re-think Transformation. Re-think Agility'.

"Via a wide range of panels, demonstrations and networking events with industry-leading experts, the fifth Cloud Confex will focus on 'how' enterprises can truly capitalise on the cloud's transformational potential and present industry-leading CIOs with best-practise cloud innovation and integration strategies," added Trixee LohMirmand, senior-vice president, Exhibitions and Events Management, DWTC, the organiser of Gitex Technology Week.

In the UAE, sensitive industry sectors such as the public sector, oil and gas, banking, finance and insurance are all set to drive demand for cloud computing security solutions, according to Frost and Sullivan. Revenue from cloud computing security services in the UAE is set to grow from $8.7 million in 2012 to $72.3 million by 2019.

"To gain a competitive edge in an increasingly connected world, more enterprises are harnessing the cloud to extend their business capabilities across an ecosystem of internal teams, suppliers, channel partners, distributors and customers," said Dr Sanjiva Weerawarana, Founder and CEO of WSO2, a Diamond Sponsor of Cloud Confex. "As one of the world's leading providers of cloud-enabled, service-oriented architecture solutions, we are proud to sponsor Cloud Confex and educate companies of all sizes about the benefits and best practices around implementing private, public, and hybrid clouds to gain a strategic advantage and drive ROI."

Juniper Networks Middle East, the industry leader in delivering innovation across routing, switching, and security, will serve as Platinum Sponsor of the Cloud Confex.

Cloud Confex will also host the second Gitex Cloud Awards a celebration of excellence in cloud computing recognising the advancement and contribution of cloud computing to the business and technology communities.

For more stories covering the world of technology, please see HispanicBusiness' Tech Channel

Source: Khaleej Times (United Arab Emirates)

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