Digital Economy in Middle East to Top USD 30 Billion by 2018, Predicts Deloitte
DUBAI, United Arab Emirates —
Middle East boardrooms are urged to adopt real-time data solutions to compete in the region’s digital economy, set to double to USD 30 billion by 2018, business experts announced today at GITEX Technology Week 2015.
With the growth in digital Islamic services, such as mobile apps, websites, and e-commerce platforms for Islamic finance and fashion, and halal food and travel, the Middle East’s Digital Economy is set double from USD 15 billion in 2015 to USD 30 billion in 2018, according to a report by Deloitte .
The rapid uptake in mobile and Web usage, along with spending on e-commerce and digital advertising, are fuelling the global digital economy, which is set to grow from USD 1.9 trillion in 2014 to USD 4.3 trillion by 2020, according to a recent report by Thomson Reuters .
“To compete and grow in the digital economy, executives in the boardrooms of the Middle East need real-time, contextualized data to make decisions for today, setting the stage for transformation and future growth,” said Jonathan Becher, chief digital officer and head of SAP Digital.
“Middle East business leaders driving digital transformations cannot rely on static slideshows and outdated data,” added Becher. “They need to simplify operations through real-time analysis of data from different divisions, such as HR, logistics and marketing.
In the recent IDC report “Chief Digital Officers: Bridging the Innovation Gap Between the CIO and CMO,” by 2020, 60 percent of organizations will have a chief digital officer.
IDC states that chief digital officers will be key to lead the digital transformations in organizations, as the role can bring together digital, communications and operations to forge collaboration, drive innovation and raise the “digital IQ” across the company.
Digital transformation, re-imagining the boardroom, and simplifying business processes are the major themes that SAP is focusing on at GITEX Technology Week 2015, the region’s largest ICT exhibition.
In the Middle East, key verticals that are being impacted by the digital economy are halal education, food and tourism; the sharing economy; Islamic finance; pharmacy and cosmetics; and modest fashion, art and design, according to the Thomson Reuters report.
Providing real-life examples of boardroom-level, digital solutions, SAP is presenting its first demonstration in the Middle East and North Africa of its SAP Digital Boardroom solution. It contextualizes the boardroom, locations and devices into a real-time enterprise experience.
Powered by the SAP HANA platform and experienced through the SAP S/4HANA suite and analytics solutions from SAP, SAP Digital Boardroom understands the past, predicts the future, and drives execution. This next-generation solution empowers leaders to monitor, simulate and drive change in a digital economy.
At GITEX Technology Week 2015, SAP is exhibiting under the unified theme of “Run Simple” at Hall 6 – Stand MAC 6-15.
As market leader in enterprise application software, SAP (NYSE: SAP) helps companies of all sizes and industries run better. From back office to boardroom, warehouse to storefront, desktop to mobile device – SAP empowers people and organizations to work together more efficiently and use business insight more effectively to stay ahead of the competition. SAP applications and services enable more than 293,500 customers to operate profitably, adapt continuously, and grow sustainably. For more information, visit www.sap.com
1.Deloitte. “Technology, Media, and Telecommunications Predictions 2015: Middle East.” March 2015.
2.Thomson Reuters. “Digital Islamic Economy 2015.” September 2015.
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