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GCC cloud market to post seven-fold growth by 2020

GCC's cloud computing market is set to grow from $ 91.7 million last year to $118.5 million by the end of 2014.

Dubai: 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 & 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 & 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 13 October, 2014 - the second day of Gitex, which runs at Dubai World Trade Centre (DWTC) during 12-16 October, 2014. 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 & Events Management, DWTC, the organiser of Gitex.

“A diverse range of sessions will explore all aspects of cloud computing agility – from technical areas including network, delivery, storage solutions and support services, to how Middle East telecommunications can generate cloud-driven revenue by developing and leveraging assets such as regional data centres and MPLS networks.”

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 & 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.”

Gitex is set to attract more than 142,000 ICT professionals, 25,000 C-level executives and over 3,700 exhibitors from 61 countries. The show will be held from 12-16 October at DWTC. For more information, visit: www.gitex.com.