Partnerships will be critical to augment growth opportunities and advance adoption rates, finds Frost & Sullivan's Digital Transformation team
DUBAI, United Arab Emirates, Nov. 8, 2017 /PRNewswire/ -- Among the Middle East countries, Qatar's cloud computing market is expected to have the highest compound annual growth rate (CAGR) of 57 per cent from 2016 through 2021. Growth is attributed to government investment, economic growth, and existing organisations' urge to scale up operations across the region and digitalise services. National information and communication technology (ICT) policies and initiatives, as well as cost savings on infrastructure, are further factors driving cloud adoption.
Frost & Sullivan's research, Qatar Cloud Computing Market - Macro Outlook and Technology Trends, 2017, evaluates major growth opportunities and challenges for cloud solution providers in Qatar. Revenue-generating verticals, types of solutions, preferred deployment methods and cloud market competitive dynamics are also discussed.
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"The market is dominated by private cloud and logging-as-a-service (LaaS); however, public cloud and software-as-a-service (SaaS) will have maximum traction in the next five years," said Frost & Sullivan Digital Transformation Associate Director Haritha Ramachandran. "End-user industries see cloud platforms as a key differentiator and a significant investment opportunity for quick growth."
Seventy per cent of enterprises state that reducing their hardware and maintenance costs is the key to upgrading to cloud services, although more than 50 per cent of organisations do not have the right infrastructure or capabilities to adopt cloud solutions and applications. Therefore, partnerships will be critical to augment growth opportunities and advance adoption rates. Further, market trends include:
- Enterprises looking to unlock the hidden potential of large amounts of data and deliver competitive advantage using big data analytics through cloud services;
- Rise in enterprise movement to cloud services for a quick upgrade to handle high inflow and outflow data amounts;
- Qatar seen as a hub for technological development, ICT innovation, and a leading force behind smart city initiatives;
- Increased cloud provider deployment having a positive impact on IPv6 content and its availability; and
- Opportunity for local cloud solutions providers to expand their portfolios and provide support services that are currently missing due to the recent isolation of Qatar by other GCC countries.
"Qatar's corporates and small-to-medium enterprises (SMEs) need to explore cloud services extensively. Most of them use cloud for mail, storage and, in very few cases, as a platform for analytics," noted Ramachandran. "Corporates and SMEs, with the assistance of cloud vendors, should evaluate the strategic options such as 'cost benefits' and 'impact on business' of various cloud applications."
Qatar Cloud Computing Market - Macro Outlook and Technology Trends, 2017 is part of Frost & Sullivan's IT Services & Applications Growth Partnership Service program.
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Qatar Cloud Computing Market - Macro Outlook and Technology Trends, 2017
SOURCE Frost & Sullivan