IT spending in the Middle East and North Africa (MENA) region is forecast to increase at 2.6 percent to $1.7 billion in 2022, according to a report from Gartner.
“In 2022, digital transformation projects will advance moderately from 2021. Underpinned by the GCC Country Visions, the rapid shift of the Gulf Cooperation Council (GCC) countries from an oil-exporting economy to a knowledge-based economy will be a major influence,” Miriam Burt, managing vice president at Gartner, said.
The direction and guidance from the various governments of the GCC in their country vision statements, the advent of 5G, increase in digitally skilled local workforce, and rapid digitalization of sectors such as banking and retail, will present a growth-conducive environment for IT spending in the region through 2022.
Communication services will continue to be the largest segment in 2022, making up 66 percent of total IT spending in 2022. IT services will emerge as the fastest growing segment in MENA in 2022, forecasted to grow 8.6 percent, followed by the software segment which is expected to grow 8.2 percent