June 22, 2024

As according to an IDC report, the net cloud market within GCC showing 25 percent annual expansion rate within 2024

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As according to an IDC report, the net cloud market within GCC showing 25 percent annual expansion rate within 2024
As according to an IDC report, the net cloud market within GCC showing 25 percent annual expansion rate within 2024

The core objective of more than half of the CIOs within the GCC territory is acceleration of digitalized transformational efforts to be the global technology hub within next four years.

A recent study format by the IDC reveals that within the next four years in 2024, the GCC public cloud infrastructural marketplace is anticipating for doubling its current value from $956 Million this year in 2020 to end up at $2.35 Billion at an accumulated annual expansion rate (CAGR) of achieving 25 percent.

However, all is not that positive from IT infrastructural marketplace as the study revealed that due to COVID-19 related shock, the enterprise spending related to Information Technology has remained a bit passive in general, yet there are numerous sub-markets within this arena that have however, witnessed a robust expansion.

This robust trend was witnessed within the Infrastructure-as-a-service (IaaS), Platform-as-a-Service (PaaS), as well as Software-as-a-service (SaaS) sectors, wherein the spending has witnessed an expansion of 32.7 percent, 32 percent as well as 24.1 percent respectively.

The recent survey revealed it at a recent panel dialogue hosted by the Dubai Outsource City, a free zone supporting native and global outsourcing firms. The IDC have also revealed that around 53 percent of CIOs within the territory are targeting for quickening up their existing digital transformational energies for meeting the clients as well as their businesses requirements, wherein only 23 percent are strategizing to pull down or for delaying these plans for focusing on vital IT responsibilities. Ammar Al Malik, managing director, Dubai Outsource City further stated that “Within all these exceptional turbulent as well as uncertain times- when vast majority of workforce are teaming up across humungous spaces, distances as well as time zones- the cloud technologies have also hugely become an unprecedented requirement.”

“By leveraging these competences, we do fundamentally streamline and smooth workflows and as well as the processes, while as well as in contribution in conformity with Dubai’s aim and to be one of the smartest, most future-readied smarter cities of the world,” he further added.

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