German software corporation SAP on Wednesday urged organisaitons in the Middle East to invest in Big Data.
Big Data and the Internet of Things (IoT) could benefit supply chain, research and product development, customer preferences, and location-based services and offers, the company said.
It added: “In this emerging Digital Economy, as more objects and devices are connected together, they are creating vast amounts of data that Middle East businesses are looking to leverage.”
The statements came on the back of Deloitte’s estimate that revenue from the Internet of Things (IoT) in the Middle East will reach nearly $2bn in 2015.
Growth in the region’s IoT market has outpaced the global average, with revenue from IoT hardware and services set to increase further.
The advancing inter-connected Internet of Things (IoT) era will connect at least 50bn devices and generate 14.4 trillion in value by 2020, according to a report by Stephenson Strategies and SAP.
Deloitte also predicts that global IoT analytics revenues will grow by 500% over the next four years.
SAP says it is seeing strong take-up in the Middle East for the recently-released SAP Business Suite on SAP HANA (SAP S/4 HANA).
“The Internet of Things will be the Middle East’s biggest game-changer, and enterprises need to develop comprehensive strategies to reimagine their businesses in the digital economy,” said Frank Forndron, SAP Head of Customer Office, SAP MENA, and Head of Quality Management for SAP MENA and EMEA Emerging Markets.
“We’re seeing strong demand for our SAP S4/HANA real-time in-memory business suite, which reduces complexity and cost, and delivers customer value and boosts the region’s economy,” he added.
