Market Size of Middle East and Africa IT Services Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 5.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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MEA IT Services Market Analysis
The Middle East and Africa IT Services Market revenue is expected to grow at a CAGR of 5.0% over the next five years. The increased IT spending, coupled with advanced technology such as artificial Intelligence and increased cloud-based offerings, increase the demand for the IT services market.
- The government agencies and private players in the market are focused on increasing infrastructure developments, such as smart city and data center construction, which would drive the growth of the IT services market over the next five years. For Instance, MCIT (The Saudi Ministry of Communications and Information Technology) plans to invest USD 18 billion to build a network of large-scale data centers across Saudi Arabia.
- The increasing adoption of cloud services in the healthcare sector for real-time patient health monitoring would create new growth opportunities for the IT services market. For Instance, with the help of VMware's multi-cloud solutions, healthcare providers will gain the agility to expand, develop, and launch new services to improve healthcare provision. Such initiatives in the healthcare sector would drive more demand for the IT services market across the healthcare sector.
- Key players in the IT services market are focused on expanding their businesses and strengthening their market positions through collaborations and partnerships. For Instance, Microsoft extended its partnership with the African Development Bank to support Africa's youth entrepreneurs under the bank's Youth Entrepreneurship Investment Banks (YEIB) initiative.
- In the post-COVID-19 situation, hybrid cloud-based services are increasingly being adopted in the Middle East and Africa. For instance, VMware Cloud is now available in AWS Africa (Cape Town) Region. With VMware Cloud on AWS, customers across Africa can run workloads across VMware vSphere-based hybrid cloud environments with optimized access to Amazon Web Services.
- During the COVID-19 pandemic lockdown, people were struck in homes and shifted to contactless payment mode via smart devices. Post-COVID-19, the adoption of digital payment is growing, and the key players in the market are developing new solutions for the digital payment market. For Instance, Alphabet Inc launched its new digital payment Google Wallet in South Africa. Such initiatives across end-user industries would create more demand for the IT services market.
