The MENA region’s population growth is one of the highest globally, and today’s urban environments are under pressure to accommodate more people in smarter ways. This means more than just providing adequate housing. A growing city must take into account the extra pressure on utilities, roads and transport, and other facilities. One recent report notes that the total value of active infrastructure projects in the GCC alone has reached a staggering $1.14 trillion in 2019.
During this historic period of infrastructure planning, it is crucial that such investments are intelligent investments primed for a digital world. Ambitious plans like the Dubai Autonomous Transportation Strategy—aimed at converting 25 percent of mobility means into driverless mobility means by 2030—are setting a clear vision for both the public and private sectors.
Read more: MENA region: Data and AI keys to smart city progress: Huawei
High-speed 5G networks and Cloud data centers are giving digital efforts across the region a big boost.
A5G-enabled digital boom across the Gulf is expected to generate $28 billion in revenues by 2023, as mobile data traffic soars, according to the Ericsson Mobility Report. The fifth-generation high-speed Internet will enable automated machinery for factories and remote monitoring of oil wells.
The MENA IT market is anticipated to grow at a single-digit CAGR during the forecast period. In contrast, the MENA digital transformation market is expected to expand at a CAGR of 15.1% from 2014 to 2020. The contribution of the MENA digital transformation market to the overall MENA IT market is likely to increase from 10% to 16% by 2020, witnessing an increase of 600 BPS.
Growth of the MENA digital transformation market is mainly driven by increasing need for enhanced customer experience at all levels of customer interaction points and improvised process transparency in enterprises across the countries in this region. Moreover, countries such as the UAE, Saudi Arabia and Lebanon are increasingly introducing e-Government and smart city initiatives, with the objective to transform themselves into digitally-enabled countries. This is further supporting growth of the MENA digital transformation market.
Future Market Insights (FMI), with sharp focus on emerging regions, delivers key insights on the Middle East and North Africa (MENA) digital transformation market in its recent report titled “Digital Transformation Market: MENA Industry Analysis and Opportunity Assessment 2014 – 2020”. The MENA IT market is anticipated to grow at a single-digit CAGR during the forecast period. In contrast, the MENA digital transformation market is expected to expand at a CAGR of 15.1% from 2014 to 2020. The contribution of the MENA digital transformation market to the overall MENA IT market is likely to increase from 10% to 16% by 2020, witnessing an increase of 600 BPS.
Read more: MENA Digital Transformation Market CAGR to Grow at 15.1%
Future Market Insights (FMI), with sharp focus on emerging regions, delivers key insights on the Middle East and North Africa (MENA) digital transformation market in its recent report titled "Digital Transformation Market: MENA Industry Analysis and Opportunity Assessment 2014 - 2020". The MENA IT market is anticipated to grow at a single-digit CAGR during the forecast period. In contrast, the MENA digital transformation market is expected to expand at a CAGR of 15.1% from 2014 to 2020. The contribution of the MENA digital transformation market to the overall MENA IT market is likely to increase from 10% to 16% by 2020, witnessing an increase of 600 BPS.