Thursday, Jul 20, 2017

Dubai

Oracle’s cloud revenues in East Central Europe, Middle East and Africa grew 56 per cent quarter on quarter in the fourth quarter ending June 30 and 33 per cent for the fiscal year.

“We expect the numbers to go even higher this fiscal year. Moreover, the new regional requirements from the customers for VAT because people have to add on workflows, feature and functions on products to be cloud ready,” Arun Khehar, senior vice-president for applications business at Oracle ECEMEA said.

He said that cloud is a big deal as many companies have old infrastructure and there is a need for innovation but also a great pressure to do things such as increase security and adhere to governance mandates which are not innovative.

Research firm International Data Corporation (IDC) forecasts show the public cloud market in EMEA to reach over $20 billion (Dh73.50 billion) in 2017, with a year on year growth rate of 26 per cent.

“The market should pay close attention to the investments that Oracle is making to gain market share in this rapidly growing market as buyers pivot to cloud and look to accelerate their digital transformation journeys,” said Phil Carter, chief analyst at IDC.

By Naushad K. Cherrayil Staff Reporter

Gulf News 2017. All rights reserved.