The MENA ICT Market size is estimated at USD 183.48 billion in 2024, and is expected to reach USD 250.29 billion by 2029, growing at a CAGR of 6.41% during the forecast period (2024-2029).
The ICT sector in the MENA region has been experiencing significant growth in recent years. Vendors in the industry are choosing strategic alliances, mergers, and acquisitions due to the fast-expanding digital transformation ecosystem to meet the growing need for converting current businesses and keeping a competitive edge over rivals.
The MENA ICT Market is fragmented. The major factors governing this force are sustainable competitive advantage through innovation, levels of market penetration, barriers to exit, power of competitive strategy, and firm concentration ratio. Some of the players include Google LLC (Alphabet Inc.), IBM Corporation, Microsoft Corporation, HP Inc., and SAP SE. The players in the market studied are looking to strengthen their competitiveness through various efforts. Overall, the intensity of competitive rivalry is expected to be high.
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