How big is the MENA ICT Market?

The MENA ICT Market size is expected to reach USD 183.48 billion in 2024 and grow at a CAGR of 6.41% to reach USD 250.29 billion by 2029. Read More

What is the current MENA ICT Market size?

In 2024, the MENA ICT Market size is expected to reach USD 183.48 billion. Read More

Who are the key players in MENA ICT Market?

Google LLC (Alphabet Inc.), IBM Corporation, Microsoft Corporation, HP Inc. and SAP SE are the major companies operating in the MENA ICT Market. Read More

What years does this MENA ICT Market cover, and what was the market size in 2023?

In 2023, the MENA ICT Market size was estimated at USD 171.72 billion. The report covers the MENA ICT Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the MENA ICT Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

MENA ICT Market Size & Share Analysis - Industry Research Report

MENA ICT Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Middle East and North Africa (MENA) ICT Market Report is Segmented by Technology (Big Data Analytics, Mobility and Telecom, Cloud Computing, Storage, and Business Process Outsourcing), Component (Hardware/Devices, Software and Services, and Communication and Connectivity), End-User Industry (Oil, Gas and Utilities, Travel and Hospitality, Healthcare, Financial Services, Manufacturing and Construction), and Country (Saudi Arabia, United Arab Emirates, Qatar, Oman, Egypt, and Rest of MENA). The Market Size and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

MENA ICT Industry Overview

Global Giants Lead in a Consolidated Market: The MENA ICT market is consolidated, with global tech conglomerates such as Google, IBM, Microsoft, SAP, Oracle, and AWS holding significant market shares. These companies leverage their resources and expertise to provide comprehensive ICT solutions across sectors.

Strategic partnerships: Mindware’s collaboration with Xebia (Nov 2023) exemplifies the type of strategic alliances that drive digital transformation.

Innovation leadership: UAE-based G42 launched a $10 billion expansion fund in 2022, focusing on transformative technologies like AI and cloud computing, underscoring the region’s commitment to digital innovation.

Strategies for Future Success: To succeed in the MENA ICT market, companies must focus on several key strategies:

Investing in local partnerships: As seen with KT and STC Group, developing local infrastructure is critical for long-term growth.

Emerging technologies: Prioritizing technologies such as 5G, IoT, and fintech solutions is crucial, with Saudi Arabia’s fintech sector expected to see significant growth.

Regulatory alignment: Aligning with government initiatives like Egypt’s ICT 2030 strategy can open doors for extensive opportunities.

Skills development: Training and capacity building, exemplified by the UAE’s ICT Fund, will be pivotal in addressing the skills gap in the tech workforce.