Middle East IT Market and Forecast Analysis [2019-2030] – The Middle East IT market is expected to approach US$ 27.6 billion by 2030, with an annual growth rate of more than 6.5% says RationalStat
Wilmington, Delaware, Oct. 05, 2023 (GLOBE NEWSWIRE) — Middle East IT Market was valued at US$ 17.8 billion in 2023 and is expected to grow at a significant CAGR of over 6.5% over the forecast period of 2023-2030, according to the latest market report by RationalStat
Market Definition, Market Scope, and Report Overview
Middle East governments are launching a variety of smart city initiatives, e-governance projects, and national digital plans. These endeavors frequently include significant investments in IT infrastructure, software, and services, propelling the IT sector forward.
Many countries in the Middle East have established thriving start-up ecosystems. These start-ups frequently focus on IT advances such as software development, artificial intelligence, finance, and digital services, helping to drive the IT sector’s overall growth.
- According to a deep-dive market assessment by RationalStat, the Middle East IT market has been analyzed on the basis of market segments, component, organization size, end user and geography/regions (including GCC, Iran, Iraq, Turkey, Rest of the Middle East). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the Middle East IT market covers market sizes on the basis of market value (US$/EUR Million) and volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the Middle East IT market. It also includes the industry’s current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Middle East IT Market: Segmental and Market Share Analysis
- On the basis of components, the services segment is expected to dominate the Middle East IT market. The rise of globalization and remote work has increased the demand for IT services.
- On the basis of organization size, As the number of small and medium-sized businesses increases, the Middle East IT market is dominated by small and medium-sized businesses.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2023 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 17.8 billion |
| Market Size Forecast | US$ 27.6 billion |
| Growth Rate | 6.5% |
| Key Market Drivers |
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| Companies Profiled |
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Competition Analysis and Market Structure
Some prominent players contribute significantly in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the Middle East IT market include.
- In November 2022, G42 Cloud signed an agreement with SAP to help businesses speed their transformation by leveraging cloud technologies.
- In June 2022, ZainTech formed a cooperation with Tunstall Healthcare to deliver remote patient monitoring (RPM) services to healthcare professionals in the Middle East and North Africa.
Some of the prominent players and suppliers operating and contributing significantly to the Middle East IT market growth include Microsoft Corporation, Oracle Corporation, IBM Corporation, SAP SE, Hewlett Packard Enterprise Development LP, Dell Technologies Inc., Cisco Systems, Inc., Intel Corporation, Accenture PLC, Capgemini SE, Infosys Limited, Wipro Limited, TATA Consultancy Services Limited, Fujitsu Limited, and Hitachi Ltd., among others.
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RationalStat has segmented the Middle East IT market based on component, organization size, end user and region
- Middle East IT Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Component
- Hardware
- Software
- Services
- Middle East IT Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Organization Size
- Large Organization
- SMEs
- Middle East IT Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by End User
- BFSI
- IT & Telecom
- Automotive
- Oil & Gas
- Energy and Utility
- Healthcare
- Retail
- Aviation
- Others (Consumer Electronics, etc.)
- Middle East IT Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Region
- Middle East IT Market
- GCC
- Iran
- Iraq
- Turkey
- Rest of the Middle East
- Middle East IT Market
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Key Questions Answered in the IT Report:
- What will be the market value of the Middle East IT market by 2030?
- What is the market size of the Middle East IT market?
- What are the market drivers of the Middle East IT market?
- What are the key trends in the Middle East IT market?
- Which is the leading region in the Middle East IT market?
- What are the major companies operating in the Middle East IT market?
- What are the market shares by key segments in the Middle East IT market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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About RationalStat LLC
RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
RationalStat has strategic partnerships with leading data analytics and consumer research companies to cater to the client’s needs. Additional services offered by the company include consumer research, country reports, risk reports, valuations and advisory, financial research, due diligence, procurement and supply chain research, data analytics, and analytical dashboards.
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