Market Size of South Africa ICT Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 9.30 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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South Africa ICT Market Analysis
The South African ICT Market is expected to grow at a CAGR of 9.3% for the forecast period. South Africa is one of Africa's biggest marketplaces for information and communications technology (ICT). It demonstrates technological leadership in the areas of mobile software, security software, and online banking services.
- The ICT and electronics industry in South Africa is both developed and sophisticated, and it is a growing contributor to the country's GDP. Companies including IBM, Unisys, Microsoft, Intel, Systems Application Protocol (SAP), Dell, Novell, and Compaq all have subsidiaries in South Africa. It is a regional center and a supply base for nearby nations.
- The fast-expanding African market is being penetrated by South Africa's ICT goods and services sector. In recent years, most of the new fixed and wireless telecommunications networks set up throughout the continent have been supplied by South African businesses and locally based subsidiaries of foreign businesses.
- With more internet providers entering the market and better bandwidth availability, security, and broadband prices, cloud computing is becoming increasingly significant. Cloud computing has benefited from the upgrades to data center infrastructure. Since 2016, an estimated 60% of major South African businesses have used cloud computing in some capacity.
- Regarding smart city technologies in Africa, South Africa is at the forefront. But most South Africans need access to the fundamental services that their towns ought to provide. After overcoming the difficulties of providing housing, water, power, and internet access and addressing traffic and crime, cities may concentrate on the pleasures of digital advancements for their residents.
- The IT and start-up sectors are booming in South Africa. The ICT Small, Medium, and Micro-Enterprises (SMME) Development Strategy is an initiative by the South African government to escalate the growth and development of the SMME sector. Incubation, networking, and capacity-building collaborations get government funding.
- The COVID-19 epidemic practically stopped all human activity. Significant effects were felt in South Africa, but things are improving. Customers, governments, and organizations are experiencing unprecedented change across the country. The ICT market patterns have changed as a result, both globally and locally. Given the increasing rise of the digital economy and the globalization of economic systems, the ICT industry in the country is also undergoing significant growth.
