MENA digital transformation market driven by rapid adoption in the BFSI sector. GCC digital transformation market expected to increase at 1.2 times 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.
According to the latest findings by Gartner, governments in the Middle East and North Africa will spend USD 11.97 billion on IT products and services in 2015, an increase of 0.4 percent over 2014 spending of USD 11.92 billion.
This forecast includes spending on internal services, software, IT services, data centre, devices and telecom services. Government comprises local government and national government.
Telecom services, which include fixed and mobile telecom services, will be the largest overall spending category throughout the forecast period within the government sector. It is expected to be USD 5.2 billion in 2015– led by growth in mobile network services.
Read more: Gartner: Government IT spending in MENA region to reach USD 11.97 billion in 2015
Future Market Insights (FMI) delivers key insights on the Middle East and North Africa (MENA) digital transformation market in its recent report titled MENA Digital Transformation Market – Market 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 double-digit CAGR from 2014 to 2020. The contribution of the MENA digital transformation market to the overall MENA IT market is likely to increase from 10 per cent to 16 per cent by 2020, witnessing an increase of 600 BPS.
The MENA IT market is anticipated to grow at a single-digit CAGR during the forecast period.
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 “MENA Digital Transformation Market Analysis and Opportunity Assessment, 2014 – 2020”.
In contrast, the MENA digital transformation market is expected to expand at a double-digit CAGR 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.
These are exciting times for MENA’s online industry. Traditional sectoral investors are starting to worry about the impact of low oil prices, a potential slowdown in construction and real-estate, and eroding margins in telecom and banking. On the other hand, online businesses continue to thrive thanks to high demand and adoption of transactional services, as well as the transformation of the “always on” generation into household decision makers and holders.
MENA Internet providers have experienced 15 years of nonstop growth, bringing faster and cheaper services to users who are steadily migrating from desktop computers to smartphones to access the web. This has created a fertile environment for the creation of disruptive business models, driven by 175 million Internet users who are willing to pay for the increased comfort and convenience the Internet brings to their lives.