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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