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Middle East Cloud Applications Market Worth $4.5 Billion by 2024 - Exclusive Report by MarketsandMarkets(TM)
Saturday, January 25, 2020

CHICAGO, Jan. 17, 2020 /PRNewswire/ -- According to a new research report "Middle East Cloud Applications Market by Application (ERP, CRM, HCM, SCM, and Business Intelligence and Analytics), Organization Size, Vertical (BFSI, Manufacturing, and Telecommunications), and Country - Forecast to 2024", published by MarketsandMarkets(TM), the Middle East Cloud Applications Market is expected to grow from USD 2.0 billion in 2019 to USD 4.5 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 17.5% during the forecast period.

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The growing demand for cloud-based services and advanced technologies, increasing need to engage with customers, and deliver an enriched experience continuously are some of the major factors driving the growth of the Middle East Cloud Applications Market.

Browse in-depth TOC on "Middle East Cloud Applications Market"

38 - Tables

28 - Figures

110 - Pages

Download PDF Brochure:

https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=262938413

Among applications, cloud-based CRM applications to grow at a higher rate during the forecast period

Cloud Customer Relationship Management (CRM) enables enterprises to store and utilize customer data at scale to offer better services and manage relationships with customers. Cloud-based CRM is gaining popularity among enterprises due to various benefits it offers, such as easy accessibility, affordability (especially for Small and Medium-sized Enterprises [SMEs]), rapid implementation, easy upgradation, scalability, and integration capability with other data sources. Cloud-based CRM applications centralize the customer database and provide a comprehensive view of all interactions with customers, offer instant access to real-time insights of sales opportunities, and automate task management processes. With ease of use and affordability, it increases customer retention rates making business more successful. Salesforce, Zoho, Oracle, Microsoft, and Oracle are some leading vendors offering cloud CRM.

The retail and consumer goods vertical is one of the fastest-growing verticals in the region

Factors driving the adoption of cloud applications are the rising purchasing power of customers and the need to satisfy customer expectations, which leads to existing customer retention and new customer acquisition. Online retailing and cloud technologies have significantly disrupted the retail and consumer goods vertical leading to the adoption of cloud computing mainly for storage, backup, and security services. Cloud computing services enable retailers to access customer data with just 1 click from any store located anywhere, thus leading to better customer service delivery. For instance, Hallmark Cards is a retail shop with a number of stores worldwide and is known for selling greeting cards and other products. This store is leveraging the private cloud to store its data and manage all operations, such as conducting real-time inventory tracking, enabling employees to focus on delivering enhanced customers experience, and business critical activities.

Speak to Our Expert Analyst:

https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=262938413

Saudi Arabia to have the largest market size during the forecast period

Saudi Arabia is accelerating the adoption of Information Technology (IT) services in recent years. The country's regulatory body, Communications and Information Technology Commission (CITC) has regulated Cloud Computing in Saudi Arabia by publishing the Cloud Computing Regulatory Framework (CCRF) on its website. The CCRF aims to provide clarity and certainty on the rights and obligations of Cloud Service Providers (CSPs) and users of cloud services. This shows the interest of the government to accelerate the adoption of cloud-based services in this country. The key factors driving the adoption of the cloud technology in this country include reduced costs, improved infrastructure efficiency, and enhanced scalability.

Market Players:

Major vendors offering Middle East Cloud Applications Market across the globe includes SAP (Germany), Oracle (US), Microsoft (US), Infor (US), Salesforce (US), Sage Group (UK), IBM (US), Epicor (US), 3I Infotech (India), Ramco Systems (India), Prolitus Technologies (India), IFS (Sweden), and QAD (US).

Browse Adjacent Markets: Cloud Computing Market Research Reports & Consulting

About MarketsandMarkets(TM)

MarketsandMarkets(TM) provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets(TM) for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets(TM) are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets(TM) now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets(TM) is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Shelly Singh
MarketsandMarkets(TM) INC.
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USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Website: https://www.marketsandmarkets.com
Research Insights: https://www.marketsandmarkets.com/ResearchInsight/middle-east-cloud-application-market.asp
Content Source: https://www.marketsandmarkets.com/PressReleases/middle-east-cloud-application.asp

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SOURCE MarketsandMarkets



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