Innovative Business Models Spur Growth of Middle East ICT Market, Outlook 2021

Future Growth Potential of the ICT Market Enhanced by Digital Transformation, 5G, and AI

This research service analyzes the Middle East ICT market. It provides key highlights for 2020 as well as a future outlook till 2025. By industry, the market is segmented into telecommunications and information technology (IT). Major market drivers and restraints are discussed, along with important technology traits. The report also covers the impact of the COVID-19 pandemic on the market. Revenue is provided for the base year (2020), as well as the forecast period, which runs through 2025. The ICT market in the Middle East, after recovery from the pandemic, is expected to witness growth over the forecast period, mainly driven by the government’s digital transformation initiatives and enterprises’ acceptance of disruptive technologies, such as the Internet of Things (IoT) and artificial intelligence (AI). In addition, operators are focussed on the development of an enterprise-centric or application-specific service portfolio to monetize 5G network investments, whereas cloud computing and data centers, AI, cybersecurity, and virtual conversational platforms are important trends in the IT ecosystem. The research also provides insights on global Mega Trends, including virtual reality, blockchain, industrial robots, 3D printing, and augmented reality (AR).

With the emphasis on reducing dependency on the oil industry, several Middle Eastern countries are formulating strategies to boost the contribution of the ICT market to the GDP. Governments and enterprises have embraced various disruptive technologies as part of their digital transformation initiatives to drive market growth. The proliferation of 5G services and their significance across several enterprise applications and industry verticals will promote market expansion over the forecast period.