GCC And Africa ICT Market Size

GCC and Africa ICT Market Analysis

The GCC And Africa ICT Market size is estimated at USD 266.55 billion in 2024, and is expected to reach USD 424.73 billion by 2029, growing at a CAGR of 9.77% during the forecast period (2024-2029).

• In the GCC and Africa, businesses are embracing digital transformations to adapt to the evolving landscape and strengthen their resilience. This transition has spurred a growing demand for ICT solutions, especially those centered on automation, data analytics, and e-commerce. Furthermore, various governments are emphasizing robust policy frameworks to bolster the ICT and tech ecosystems. Coupled with numerous government initiatives promoting the adoption of digital tools and advanced technologies, this creates a fertile ground for the ICT market's growth in the GCC and Africa.
• The market's expansion is further fueled by the rising adoption of multi-cloud operations and an increasing demand for cloud-based intelligence services. Advanced AI technologies not only amplify the value of cloud computing but also enhance process viability, making them indispensable for integrating emerging technologies. In response to the surging demand, global cloud computing providers are setting up data centers and cloud regions in the GCC and Africa.
• As the tourism sector flourishes, there is a heightened demand for automation. From implementing smart ticketing systems at cultural events to offering automated services in tourist facilities, technology is being harnessed to boost efficiency and enrich visitors’ experiences. Moreover, automation is pivotal in handling the surging demand for services, ensuring a contemporary approach to hospitality and event management.
• PPP initiatives in the ICT market in the GCC and Africa are designed to cultivate collaboration between government entities and private organizations, aiming to bolster the region's digital infrastructure and technology adoption. Recognizing the pivotal role of ICT in economic development, GCC governments are increasingly aligning with private entities to pursue shared objectives. These collaborations span projects like broadband expansion, e-government services, smart city initiatives, and digital innovation.
• Countries in the GCC and Africa grapple with significant economic consequences due to their heavy reliance on external sources, which, in turn, affects security and technological expertise. Africa is notably challenged by a digital skills gap and ongoing gender disparities. Furthermore, limited technology adoption by firms constrains productivity and stifles job creation, particularly in skill-intensive sectors.
• In the aftermath of the COVID-19 pandemic, several regional government initiatives are propelling the market forward. For example, the UAE AI Strategy 2031 was unveiled to boost productivity across sectors like healthcare, transport, renewable energy, and education, aligning with the government's vision for the United Arab Emirates’ centennial in 2071. The United Arab Emirates has already initiated AI integration in sectors such as healthcare, education, and aviation. Central to the government's ambitious economic diversification and knowledge economy goals is the pivotal role of AI.