Since entering the Middle East and North Africa market in 2016, Liferay Inc., a provider of an open-source platform for creating digital experiences on the web, mobile, and connected devices, has achieved impressive revenue and growth rates for five consecutive years, particularly in Egypt and the Gulf region, which reinforced the company’s optimistic outlook for growth in the current fiscal year, reflecting the growing demand for personalized customer experiences.
Despite the pandemic and economic constraints, the company experienced triple-digit growth in Digital Experience Platforms (DXPs) and DXP Cloud in the MENA region during this period.
This regional expansion is a result of the promising, rapidly rising markets of Egypt, the United Arab Emirates, and Saudi Arabia, which have a sizable customer base in the financial services, insurance, telecommunications, and manufacturing industries. These industries are experiencing a surge in the use of unified and optimized experiences across platforms and contact points.
In particular, Liferay achieved rapid success in Egypt and became involved in assisting the Egyptian government’s attempts to accelerate the speed of digital transformation.
Liferay has provided services to numerous large companies and institutions seeking to quickly adapt to this transformation in a variety of industries, as well as to numerous leading government institutions, banks, companies’ insurance and mobile operators, among whom are the Arab African International Bank (AAIB) and AXA Insurance.
Liferay also has a sizable customer base in the Saudi market, which includes prominent companies in a variety of economic sectors, such as Tawuniya Insurance Company, Zain, and Alinma Tokio Marine, and has benefited from the Kingdom of Saudi Arabia’s decision to adopt open-source software such as Liferay solutions that activate data in real time to accelerate innovation, which has resulted in companies allocating massive sums of money to adopt digital transformation.
Liferay has a significant presence in the UAE, having opened its first office in the region (Dubai), attracting a promising and rapidly rising customer base, and partnering on numerous smart government programs, such as the collaboration with Smart Dubai to establish the “Invest in Dubai” platform.
General Manager of Liferay Middle East, Moussalam Dalati, stated, “At Liferay, we are committed to promoting innovation and enhancing user experiences through technology, and we are reaping the benefits of our efforts. The Middle East is one of the world’s fastest growing regions, and we anticipate continued growth this year as well. Additionally, business formats such as B2B, B2C, D2C, and B2E are thriving as important drivers in the post-pandemic era, which has accelerated the adoption of digital services. With our tremendous expansion in the Middle East, we are committed to assisting public and private sector organizations in the region with digital transformation efforts.”
It’s worth noting that a recent Gartner study predicted that cloud computing will be the focal point of digital experiences. As a result, it’s unsurprising that demand for DXP Cloud continues to grow in keeping with the company’s “cloud first” strategy. On the other hand, the growing need to deliver personalized user experiences across multiple channels, touchpoints, and devices is causing organizations to increase their investment in DXPs, and the sector is expected to grow at a compound annual growth rate of 15.5 percent from 2020 to 2027 across the MEA region, according to a MarketWatch report.
Liferay’s customer- and partner-centric approach is critical to the company’s success. Through effective relationships, an expanding partner network promotes innovation and service enhancement. One of the pillars of our company’s success is its employees’ flexibility and innovation. “Our massive revenue is a direct outcome of the company’s collaborative culture, which is based on a shared goal, complete transparency, empowerment, and team spirit among Liferay employees to prosper alongside the company—a model that fosters growth and performance,” Dalati explained.
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