MENA spending on IT to hit USD12.2b in 2014

16 Nov 2014

(MENAFN) According to Gartner, the world’s leading information technology research and advisory company, The Middle East and North Africa’s total spending on information technology is expected to increase by 8 percent to reach USD12.2 billion in 2014, Khaleej Times reported.

The spending in the MENA region on the IT sector is expected to be focused on IT products and services including internal services, software, IT services, data center, devices and telecom services, with predictions that the region IT spending will reach USD243 billion by 2018, which will represent 5.6 per cent of worldwide IT spending.

Other sectors where investments are expected to increase include mobility, smart government, big data and Internet of Things (IoT), communications, media and services, banking and securities, government, manufacturing and natural resources.

Between these many sectors, spending on telecom services, which include fixed and mobile telecom services, is expected to be the highest throughout the forecasted period, with expectations that spending on that sector will reach USD5.4 billion in 2014, while software spending will reach USD1.2 billion, thus increasing by 9 percent compared to 2013.

“Saudi Arabia, the largest GCC member, is investing on various digital government initiatives. The UAE has ambitious plans to build multiple smart cities and provide several government services ‘online’ to its citizens,” the report said.