Salesforce Set To Contribute $2.6 Billion To UAE Economy: IDC

Salesforce’s UAE ecosystem is on track to become 6.5 times larger than the vendor itself by 2024, earning $6.58 for every dollar the company makes, according to research firm IDC.

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Petra Jenner, Salesforce
Petra Jenner, Salesforce

Global CRM company Salesforce has announced new research from IDC that finds Salesforce and its ecosystem of partners will create $2.6 billion in new business revenues and 11,180 new jobs in the UAE to 2024.

The research also finds the vendor is driving massive gains for its partner ecosystem, which will see $6.58 in gains for every $1 Salesforce makes by 2024, said the firm.

Cloud computing is driving this growth and giving rise to a host of new technologies, including mobile, social, IoT and AI, that are creating new revenue streams and jobs that further fuel the growth of the cloud — creating an ongoing virtuous cycle of innovation and growth.

According to IDC, by 2024 nearly 50 percent of cloud computing software spend globally will be tied to digital transformation and will account for nearly half of all software sales. In the UAE, spending on cloud computing between now and 2024 will grow by 27 percent, from USD 184 million in 2018 to USD 778 million in 2024.

“With this Sanitary Emergency we realised that Digital is becoming more and more important. The UAE is at the global forefront of cloud-based nationwide digital transformation enabling economic growth and job creation,” said Petra Jenner, General Manager and Senior Vice President – Europe, Middle East, and Africa Emerging Markets, Salesforce. “Salesforce’s rapidly growing economic impact in the UAE – with USD 2.6 billion in revenue and 11,180 jobs by 2024 – shows that organisations and channel partners are delivering innovative digital business models to foster new levels of employee and customer experiences and business competitiveness.”

Thierry Nicault, Salesforce
Thierry Nicault, Salesforce

Because organisations that spend on cloud computing subscriptions also spend on ancillary products and services, the Salesforce ecosystem in the UAE in 2019 is more than 4.5 times larger than Salesforce itself, and will grow to 6.5 times larger by 2024.

IDC estimates that from 2019 through 2024, Salesforce in the UAE will drive the creation of 18,700 indirect jobs, which are created from spending in the general economy by those people filling the 11,180 jobs previously mentioned.

“We expect the UAE’s digital economic growth and job creation to be strong across financial services, manufacturing, retail, communications and media, healthcare and life sciences, and government,” Thierry Nicault, Executive Vice President for Enterprise Business Unit – Middle East, Africa, Central Europe, Salesforce. “The UAE’s digital transformation is helping to weather the current COVID-19 coronavirus pandemic and foster long-term economic self-sufficiency.”

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