Liferay marks five years milestone with triple digit revenues in Middle East
Liferay, Inc., one of the global Digital Experience Platforms (DXP), providing experiences on web, mobile, and connected devices, is bullish on double-digit growth projections for the current fiscal year in line with the rising demand for cloud enabled personalized customer experiences. Over the period, the open-source company registered triple digit growth in digital experience platforms (DXPs) in MENA as a result of increased demand, repeat business from its customers, despite the pandemic and economic slowdown.
This regional hike stems from the promising and fast-growing markets of UAE, Saudi Arabia, Egypt and the wider region with a robust portfolio of customers from governments, financial services, insurance, telecommunication and manufacturing sectors. These sectors are witnessing a surge in unified and optimized experiences across platforms and touchpoints along with cloud scaling for increased agility and flexibility to drive digital transformation.
“At Liferay, our mission is to ignite innovation and optimize experiences with the help of technology and our results are a manifestation of that mission. The Middle East is one of the fastest growing regions globally and we are expecting steady acceleration this year too”, said Mr. Moussalam Dalati, General Manager, Liferay Middle East. “Over and above B2B and B2C, D2C and B2E business models are excelling as major drivers in the post pandemic era that spiraled digital services adoption. With an aggressive expansion in the Middle East, we are committed to support digital transformation initiatives of the region’s public and private sector organizations.”
A recent Gartner study stated that Cloud is expected to be the centerpiece of digital experiences and therefore, it is no surprise that the demand for experiences on Cloud has increased. The imminent need for personalized user experiences across multiple channels, touchpoints and devices throughout the customer interaction and engagement process by organizations is driving increased investments in DXPs, with a projected CAGR of 15.5% in the forecasted period of 2020 to 2027 across MEA, according to Marketwatch. Additionally, Saudi Arabia’s decision to adopt open-source software such as Liferay’s solutions that activates data in real time for accelerated innovation is driving significant spending as enterprises embark on their transformation journey in line with the nation’s vision.
Liferay’s customer-first and partner-centric approach is fundamental to its business objectives. The rapidly expanding partner network enables the ecosystem to innovate, scale and service through successful partnerships. A major contributor to the company’s success is also it’s rich innovative and agile culture formed by a multi-cultural, diverse, and collaborative workforce.
“Our rewarding revenues are a direct result of our strong corporate ethos – founded on shared vision, complete transparency, empowerment and a deep-rooted team spirit among Liferay employees to thrive along with the company – a model that augments growth and performance. A happy and motivated workforce indeed directly impacts the teams’ productivity”, concluded Mr. Dalati.
Liferay’s extended partner ecosystem with its core partners facilitates and empowers enterprises with digital innovations and experiences in a quick and agile manner.