Egypt ICT Market Size (2024 - 2029)

Egypt ICT Market Analysis

The Egypt ICT Market is expected to grow at a CAGR of 10.9% during the forecast period. Egypt's ICT sector is one of the nation's fastest-growing economic sectors. The government's steadfast backing is one of the main elements supporting Egypt's ICT sector's growth.

• Further, by creating a Digital Egypt, the ICT 2030 plan assists in attaining the goals of Egypt's Vision 2030; these goals include strengthening the ICT infrastructure, promoting digital inclusion, accomplishing the shift to a knowledge-based economy, supporting innovation, boosting capabilities, combating corruption, guaranteeing cybersecurity, and advancing Egypt's standing on the regional and global stages.
• The fundamentals for converting Egypt into a digital society are laid forth in the comprehensive vision and strategy known as "Digital Egypt." The three primary pillars of the "Digital Egypt" strategy are digital transformation, digital skills and jobs, and digital innovation. The legislative framework and the digital infrastructure, both crucial foundations, support these three pillars.
• Egypt's telecom market, which is among the biggest in Africa and the Arab World, is distinguished by intense rivalry in the mobile and broadband sectors and a young and creative digital industry that has created the first business models for delivering digital content. The Egyptian telecommunications sector has seen several developments in past years. In the mobile and Internet segments, the industry has seen rapid expansion in terms of revenues and users.
• Recent years have seen the emergence of new, severe cyberattacks that target critical services and use malware and viruses to destroy or disrupt ICT infrastructure and critical industrial control systems. These cyberattacks use a variety of channels, such as wireless networks and mobile memory, as well as more conventional ones like e-mails, websites, social media, and telecommunications networks, which may have a significant effect on the use of crucial infrastructure, as well as the associated services and businesses.
• Egypt's aim to become a digital nation has accelerated partly because of the Covid-19 pandemic. The traffic has grown by 99%, and peak internet usage hours have increased from 7 to 15. International calls have climbed by 19%, and mobile internet usage has increased by 35%. Applications like Zoom (3465%), Telegram (1100%), and YouTube (115%) all saw significant increases in usage. The commitment to digital transformation as a fundamental business model in the private sector is the most notable characteristic of the new reality after the pandemic.

Egypt ICT Industry Segmentation

Information and Communication Technologies or ICT is a broader term for Information Technology (IT). It refers to all communication technologies, such as wireless networks, the internet, computers, cell phones, software, videoconferencing, middleware, social networking, and other media applications and services enabling users to store, access, transmit, retrieve, and manipulate information in a digital form.

Egypt's ICT market is segmented by type (hardware, software, IT services, and telecommunication services), by the size of the enterprise (small and medium enterprise and large enterprises), by industry vertical (BFSI, IT and telecom, government, retail and e-commerce, manufacturing, and energy and utilities). The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.