Public cloud spending in the Middle East, Turkey, and Africa (META) will increase to $2.8 billion this year as demand increases following the spread of COVID-19.
That’s according to the latest research update from International Data Corporation (IDC), which expects this figure to top $6.5 billion in 2024, representing a compound annual growth rate (CAGR) of 24 per cent, up from the 22 per cent rate that was projected prior to the COVID-19 pandemic.
The group vice president and regional managing director for the Middle East, Turkey, and Africa, IDC, Jyoti Lalchandani said, “While the COVID-19 pandemic has brought unprecedented levels of disruption to the region, it has also shone a light on the critical role that digital transformation (DX) plays in ensuring business continuity.
“Indeed, DX-savvy organizations are experiencing the least disruption as they were far better prepared to face the challenges that lay in wait. As the situation continues to evolve, more and more enterprises will look to rethink their business continuity strategies, with an eye on stabilising their critical infrastructure and improving their response to unforeseen events.
“Online collaboration tools, cloud-based platforms, and secure remote access will all be central to this process, as will improvements in infrastructure resiliency and disaster recovery. As such, we are seeing a positive momentum in cloud appetite, with public cloud so far proving resilient to the COVID-induced slowdowns that have hit other segments of the region’s IT market.”