The MENA digital transformation market is anticipated to expand in value over the course of the forecast period at a CAGR of 15.1%. The MENA digital transformation market was estimated to be worth US$ 1,028.8 million in 2014, and it is anticipated that this market will grow significantly to reach US$ 2,398.3 million by 2020 as a result of rising Internet usage and social media adoption as well as rising demand for ICT products like mobile phones, laptops, smartphones, and tablets.
The research named “MENA Digital Transformation Market Forecast and Assessment; 2014-2020” was just released by Future Market Insights. The use of online platforms, social media, and mobile devices to communicate with customers is transforming business models, value chains, ecosystems, and other aspects of organisations. Digital transformation, which may be characterized as the reworking of an organization’s goods, processes, and strategies by utilising contemporary technologies, is the integration of digital technology into all facets of a corporation.
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In this report, FMI has segmented the MENA digital transformation market on the basis of digital services, digital software, end-user verticals and region. On the basis of digital services, the MENA digital transformation market is segmented as digital consulting services, digital technology implementation services, digital technology integration services and digital operations & management services. By digital software segment, the MENA digital transformation market is further segmented as digital content and applications, digital sales & commerce, digital marketing, digital customer experience & service and digital integration platforms. Moreover, on the basis of end-user verticals, the MENA digital transformation market is sub-segmented as retail, BFSI, energy & utility, telecom, healthcare, manufacturing, services, media & entertainment, transportation and public sector.
The growing real-time analytics and amalgamation of marketing, sales and commerce into one platform are further fuelling the demand for digital transformation solutions and are projected to boost the MENA digital transformation market. Rising content digitisation & creation and the increased adoption of digital transformation software & services in major sectors, such as government, BFSI and retail, are some of the major factors expected to fuel the growth of the MENA digital transformation market. Moreover, latest laws and regulations introduced by the local government, such as e-transaction and e-commerce laws, are also creating significant opportunities for the MENA digital transformation market.
On the basis of end-user verticals of MENA digital transformation market, the BFSI and public and transportation sector collectively accounted for over 50% of the regional digital transformation market in 2014. Among all the categories under end-user vertical, BFSI sector dominated the MENA digital transformation market with 24.1% share in 2014 followed by the public sector. Furthermore, the BFSI sector is moving towards enhanced online services and CRM technologies to attract new customers, which is, in turn, driving the MENA digital transformation market. Moreover, E-banking is increasingly becoming common in MENA due to growth in the demand for digital services. Banks are introducing online banking services for an effective customer experience, which is expected to fuel the growth of the BFSI sector in the MENA digital transformation market.
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Furthermore, the MENA digital transformation market has been segmented into four major regions: GCC, Saudi Arabia, North Africa and other Middle East. The GCC region is further sub-segmented into five countries: Bahrain, Qatar, UAE, Kuwait and Oman. In terms of value, the Qatar digital transformation market is estimated to expand with a CAGR of 18.6% over the forecast period. Moreover, UAE is projected to maintain its dominance in terms of total revenue generation in the MENA digital transformation market.
Key market participants covered in the report include IBM Corporation; Wipro Limited; CGI Group, Inc.; Deloitte; Accenture PLC; Oracle Corporation; Dell EMC; CA Technologies; Microsoft Corporation; Hewlett Packard and Capgemini.
The report also describes company-specific strategies, key differentiators, MENA digital transformation market structure and competitive share analysis related to prominent industry stakeholders.
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