ICT Market in the Middle East, Forecast to 2026

ICT Market in the Middle East, Forecast to 2026

The Middle East is one of the most dynamic information and communication technology (ICT) markets and has been consistently growing at a healthy rate. Saudi Arabia is the largest economy of the region, and it is on a path of significant economic transformation that will provide numerous ICT opportunities across industries. In the flourishing Saudi Arabian market, numerous opportunities exist in the areas of digital transformation, smart cities, eSports and entertainment, financial services, and various other technology sectors. Large-scale national infrastructure projects Neom, Red Sea, and Qiddiya are driving massive investments to help the kingdom achieve its ambitious National Transformation Plan.

At the same time, the United Arab Emirates continues to lead the away on the adoption of cutting-edge technologies such as blockchain and artificial intelligence. Like other consumer tech, the metaverse too is gaining traction and is slowly becoming a part of the development agenda of regional economies.

The entire region is on a transformation journey and presents significant growth potential in the coming years.