The MENA digital transformation market is estimated to witness robust development during the predicted phase. It is anticipated to rise at about 15 percent CAGR. The market is expected to garner revenue worth USD 2, 398 million by the end of the predicted phase. Both the sectors of digital services and software contributed heavily to the further development of the MENA digital transformation market.
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Growing e-banking and e-government initiatives by banks and governments are some of the primary components that drive the demand for the MENA digital transformation market. Also, new technologies being introduced for big data analytics and enterprise mobility by vital participants are estimated to increase the market further. Surfacing of mobile devices, cloud computing, other technologies and social networking are anticipated to affect the MENA digital transformation market profoundly.
The market is projected to experience substantial development as it assists companies address the effect of new technologies on their procedures. Moreover, the market with its barrier of low entry has been transforming the way companies indulge in business deals. This is projected to affect the growth of the market positively in the coming years.
Constant spendings by the government and enhanced infrastructure are estimated to propel the market forward. Furthermore, fiscal expansion and growing trend among ICT operators to provide extra incorporated and complete software services are also anticipated to drive the market further. Growing implementation of information and communications technology over various industries is expected to increase the demand for the MENA digital transformation market.
Digitization enhances administration choices, widens the establishment’s reach and expedites the expansion of new products and services. It also helps change functional procedures via performance administration and process digitization. At present, enterprises stress further on client experiences that get altered digitally, which also accentuates the demand for the MENA digital transformation market.
Source: Grand View Research