Digital Transformation Market Growth in MENA

Future Market Insights (FMI), with sharp focus on emerging regions, delivers key insights on the
Middle East and North Africa (MENA) digital transformation market in its recent report titled “Digital
Transformation Market: MENA Industry Analysis and Opportunity Assessment 2014 2020”. The MENA IT market is anticipated to grow at a single-digit CAGR during the forecast period.
In contrast, the MENA digital transformation market is expected to expand at a CAGR of 15.1% from
2014 to 2020. The contribution of the MENA digital transformation market to the overall MENA IT
market is likely to increase from 10% to 16% by 2020, witnessing an increase of 600 BPS.
Growth of the MENA digital transformation market is mainly driven by increasing need for enhanced
customer experience at all levels of customer interaction points and improvised process transparency
in enterprises across the countries in this region. Moreover, countries such as the UAE, Saudi Arabia
and Lebanon are increasingly introducing e-Government and smart city initiatives, with the objective
to transform themselves into digitally-enabled countries. This is further supporting growth of the MENA
digital transformation market.
Summing up drivers behind growth of the market, FMI analyst Vineet Kumar sheds light on why digital
transformation will become mainstream technology in MENA in the near future. “Digital transformation
across all verticals has become increasingly relevant due to increasing emphasis on enterprise mobility
and smart technology enablement. Furthermore, digital transformation technologies are transforming
organization’s business models, value chains, ecosystem as well as revolutionizing interactions with
customer through online platforms, social media and mobile devices”, he said.
This report covers two types of digital transformation offering, namely digital services and digital
software. Digital services accounted for over half of the MENA digital transformation market share in
2014; however, this is expected to decrease by 70 BPS by 2020.
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“Growing Internet penetration and social media usage in the Middle East and North Africa is expected
to drive the demand for digitalization of software and services at a double digit CAGR between 2014
and 2020”, Vineet Kumar said while commenting on the increasing deployment of advanced
technologies in small/medium sized businesses across MENA region.
This report also covers the 10 types of end-user verticals in the MENA digital transformation market.
Among the end-user verticals, banking, financial services and insurance (BFSI) and public sectors
dominated with over 40% share of the MENA digital transformation market in 2013. Service, retail,
energy and utility sectors are the other major sub-segments among the end-user verticals. However,
the media & entertainment sector is anticipated to exhibit the fastest CAGR of 17.2% during the
forecast period, followed by the retail sector. This growth is attributed to the shift from print to digital
media, increasing penetration of smartphones and changing consumer buying habits.
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Ongoing infrastructural modernisation across major GCC and North African countries in MENA region
in terms of digitisation is increasing the acceptance of digital software and digital services; not only
by large- and medium-, but also by small-sized enterprises. Currently, Saudi Arabia is dominating the
market with over 30% share of the overall MENA digital transformation market, followed by the UAE
and Algeria, which account for over 10% share each. However, among all the GCC countries, the
digital transformation market in Qatar is expected to grow at a significant double-digital CAGR over
the forecast period.
Key players in the MENA digital transformation market continue to innovate by including advanced
features into digital technology solutions. Additionally, major participants such as IBM, Accenture and
Deloitte have been focusing on mergers and acquisitions at a global level in order to expand their
geographical presence and enhance customer base.
Advanced technology adoption, changing consumer buying pattern and product innovation are some
of the trends in MENA region. Presence of cloud computing, big data analytics and enterprise mobility
is gradually gaining traction in MENA region.
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