Digital Transformation is defined as the implementation of digital platforms including social media, big data and analytics, mobility, cloud and smart devices in organizations to enhance performance of enterprises and extend their reach to customers.
MENA digital transformation market is envisioned to augment at a robust compound annual growth rate (CAGR) of 16.4% during the forecast period of 2015-2021. With 31.2% share in 2015, Saudi Arabia held the largest digital transformation market in the MENA region followed by the U.A.E. However, Kuwait is likely to witness the highest CAGR of 18.6% by the end of the forecast period i.e. 2021. Higher ICT spending (which grew at an annual rate of 6.6% from 2011-2015) is one of the major factors driving the growth of Kuwait digital transformation market.
Majority of enterprises in the Middle East and Africa region are constantly focusing on implementing enterprise mobility solutions (it encompasses use of cloud services, personal gadgets and mobile workforce at workplace), which increases the efficiency of work and facilitates the development of work-from-home culture.
MENA digital transformation market is segmented on the basis of digital service, digital software and by verticals. With 70.6% in 2015, digital service held the largest market in MENA region followed by digital software market with 29.4%.
Digital transformation market in MENA region is segmented on the basis of industry verticals into BFSI, energy & utilities, healthcare, media and entertainment (M&E), manufacturing, public sector, retail, service, telecom and transportation and distribution verticals. With 24.5% share in 2015, BFSI held the largest digital transformation market in 2015 and is further portrayed to flourish at a robust CAGR of 17.9% over the forecast period i.e. 2015-2021. However, Media and Entertainment (M&E) sector is envisioned to reflect the highest CAGR of 18.1% sparked by higher digital ad spending (which is anticipated to expand at a CAGR of 9.5% in MENA during 2014-2019) by end of forecast period i.e. 2021.
The report titled “MENA Digital Transformation Market Outlook 2021” also includes some prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, and Porter’s five force model.
This report also studies existing competitive scenario of some of the key players of MENA Digital Transformation market which includes profiling of IBM Corporation, Accenture PLC, CGI Group, Capgemini, etc. The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “MENA Digital Transformation Market Outlook 2021”, analyses the overall MENA digital transformation industry to help new entrants understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in MENA Digital Transformation market in near future.
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