End-user spending on public cloud services in the Middle East and North Africa (Mena) region is expected to increase by 19.8 percent, reaching $7.3 billion in 2024 from $6.1 billion in 2023. According to Gartner, this figure is expected to rise by 24.4% to $9.09 billion next year.”Public cloud spending is expected to increase as Mena companies transition to fully digitalized corporations. Furthermore, Middle Eastern countries strive for a joint economic goal of becoming technology and data-centric. According to Shailendra Upadhyay, Senior Principal Analyst at Gartner, organizations use the cloud to enable technologies such as AI and business analytics to enhance their capabilities.
According to Gartner’s most recent forecast, worldwide end-user spending on public cloud services will increase by 20.4 percent to $675.4 billion in 2024, up from $561 billion in 2023. This expansion is being driven by generative AI (GenAI) and application modernization.
While cloud infrastructure and platform services continue to drive spending growth, SaaS remains the largest segment of the cloud market in terms of end-user spending. SaaS spending is expected to increase 20% to $247.2 billion by 2024.
“SaaS spend is driven by applications being modernised by independent software vendors to run in a SaaS-based consumption model,” Nag stated. “Organizations continue to increase their usage of cloud for specific use cases such as AI, machine learning, Internet of Things and big data which is driving this SaaS growth.”
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