With the emphasis on reducing dependency on the oil industry, several Middle Eastern countries are formulating strategies to boost the contribution of the Information and Communications Technologies market to the gross domestic product . Frost & Sullivan's recent analysis Innovative Business Models Spur Growth of Middle East ICT Market, Outlook 2021 finds that governments' digital transformation initiatives and ...

With the emphasis on reducing dependency on the oil industry, several Middle Eastern countries are formulating strategies to boost the contribution of the Information and Communications Technologies (ICT) market to the gross domestic product (GDP). Frost & Sullivan's recent analysis Innovative Business Models Spur Growth of Middle East ICT Market, Outlook 2021 finds that governments' digital transformation initiatives and enterprises' acceptance of disruptive technologies catalyze the Middle East ICT market growth. As a result, it is expected to reach $95.05 billion by 2025 from $84.23 billion in 2020 at a compound annual growth rate (CAGR) of 2.4%.

For further information on this analysis, please visit: http://frost.ly/5um

"Rising demand for technologies, including artificial intelligence (AI), machine learning, and internet of things (IoT), will drive market growth," said Shibapriya Saha, Program Manager at Frost & Sullivan . "5G, classrooms of the future, eGovernance, next-generation healthcare, smart cities, smart mobility, and smart tourism are key focus areas for governments and enterprises."

Saha added: "As enterprises in the Middle East move to the cloud-based model, the region will become one of the most profitable markets for global cloud and data center providers. Industry and technology convergence is redefining organizational boundaries, and the focus is on developing innovative, cross-industry business models, such as FinTech (financial services), EdTech (education), and MarTech (marketing)."

To tap into lucrative growth prospects, market participants should focus on five key areas:

  • 5G: 5G networks' ability to provide massive machine-type communication will accelerate its adoption in the GCC IoT/M2M (machine to machine) industry and will support use cases such as connected cars, grid management, fleet management, utility meter reading, and track-and-trace systems for logistics.
  • IoT: The adoption of IoT will primarily be driven by the manufacturing and industrial sectors as they look toward adopting and implementing concepts such as Industry 4.0 and predictive maintenance.
  • AI: Banking, retail, and healthcare are expected to be the forerunners in the large-scale adoption of AI in the Middle East . These are labor-intensive sectors and will provide immense scope for industrial automation.
  • Cybersecurity: Business risks associated with cyber-attacks and the consequent negative impact on enterprises' brand value and perception will drive future cybersecurity investment in the Middle East .
  • Gaming and eSports: The growing consumer appetite for on-the-go gaming and the surge in in-app micro-transactions will support the development and the transformation of the eSports and gaming industry in the region.

Innovative Business Models Spur Growth of Middle East ICT Market, Outlook 2021 is the latest addition to Frost & Sullivan's Global Information and Communications Technologies Growth Partnership Service program.

About Frost & Sullivan

For six decades, Frost & Sullivan has been world-renowned for its role in helping investors, corporate leaders, and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models, and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion .

Innovative Business Models Spur Growth of Middle East ICT Market, Outlook 2021
PB97-72

Contact:

Srihari Daivanayagam, Corporate Communications
P: +91 44 6681 4412
E: srihari.daivanayagam@frost.com
http://ww2.frost.com

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/frost--sullivan-outlines-five-key-growth-opportunities-in-the-middle-east-ict-market-301320829.html

SOURCE Frost & Sullivan

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/June2021/28/c7916.html

News Provided by Canada Newswire via QuoteMedia

EchoX.app launches "The METASENS Universe" project, rocket to the moon

With blockchain and cryptocurrency industry rising up, "metaverse" and "NFT" related development projects are developing rapidly recently. Imperium Technology Group Limited, the leader of Asian gaming market in Hong Kong has also announced to join the "Meta-Universe" market and plan to launch "METASENS Meta-sensitive Universe", which will create a mega meta-universe game world for global players in the new era of Web3.

Keep reading... Show less

Virtual Basketball, Arcade Games Play from Beer Cans

Beverage App, Swigr, has released augmented reality games that play on beer cans.

Swigr Basketball, which launches this week, is a game where players shoot virtual basketballs, into a beer-can-become-basketball-hoop.

Keep reading... Show less

Polymega HD Modular Game Console Releases, Reveals N64 Support with EM05 Ultra Element Module Set

With mass shipments having started in September and thousands of customers having now received their consoles, Playmaji, Inc. today announced the development of a new, 5th module in their lineup of compatible Element Module Sets for Polymega™ the world's first HD modular game console. Anticipated to release in 2022, EM05 Ultra Element Module Set owners will be able to play original N64 game cartridges on their Polymega systems region free, using either OEM controllers or the included Polymega Ultra Retro Controller a new collaboration between Playmaji and Retro-Bit Gaming based on their popular Wireless Tribute64 pad. The EM05 Ultra Element Module Set also includes 4 controller ports on the front of the module, perfect for multiplayer-centric games.

Keep reading... Show less

HPIL Holding Announces the Launch of Mobile App Game "GET SANTA"

World Gaming Group a division of HPIL Holding (OTC: HPIL) (the "Company") is pleased to announce that it will launch its long awaited mobile game "GET SANTA" officially on December 1st, 2021 . Also, the ZIPPA project is coming along very well and expect to be presenting a Beta run early January as we have taken on further challenges with ZIPPA to truly put it above any other competitors out there We are very proud of out team that are breaking barriers as all will see.

Get Santa clips: https://vimeo.com/649143463 https://vimeo.com/649324100

Keep reading... Show less

Metaverse Project DigiNation Completed 2.4 Million Fund Raising and Launching a Squid Game-like Contest Starring CryptoPunks

Metaverse gaming project DigiNation has successfully raised a total of $2.4M from venture capital firms and strategic players in the industry. The investors include: Longhash Ventures, OKEx Blockdream Ventures, Huobi Ventures, RareStone Capital, Spark Digital Capital, Yuanyuzhou Ventures and 21DAO Ventures.

Starting on the Ethereum blockchain, DigiNation is an all-encompassing ecosystem that comprises an extensive virtual gaming client DigiPlayer, playable characters (represented by DigiAvatar NFTs), a 3D design studio called DigiMaker, a web gallery named NFT Live, and an OpenSea-esque integrated marketplace known as DigiMarket.

Keep reading... Show less

Top News

Related News