MENA Digital Transformation Market Soars: Anticipates Astounding Growth at 22.7% CAGR, Set to Exceed US$ 298.2 Billion by 2032

MENA Digital Transformation Market

The MENA digital transformation market generated US$ 31.7 billion in revenue in 2021. It is projected to increase to US$ 38.4 billion in 2022. Moreover, due to the swift adoption of digital technologies in various sectors such as banking and finance, automotive, healthcare, information technology, telecommunications, and retail, the overall digital transformation market in the MENA region is anticipated to experience remarkable growth. It is expected to achieve an impressive compound annual growth rate (CAGR) of 22.7% between 2022 and 2032, resulting in a total market value of approximately US$ 298.2 billion by 2032.

Rising adoption of digital transformation solutions and services across end-use industries including automotive, BFSI, healthcare, IT & telecom is a key factor driving growth in the MENA digital transformation market and the trend is likely to continue during the forecast period.

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Digital transformation is the large umbrella term referring to the various technological developments that can help businesses digitize their processes and workflows. The technologies that come under digital transformation include cloud, IoT, AI, analytics, enterprise mobility management, etc.

The majority of companies across MENA are increasingly implementing digital technologies to increase workflow, reduce costs, and stay updated with the latest trends happening around the world.

Similarly, various government initiatives and penetration of industrialization are expected to bolster the growth of MENA digital transformation market over the next ten years.

Key Takeaways from the MENA Digital Transformation Market Report:

  • By solution, business intelligence and analytics software segment holds the largest market share of US$ 5 Billion while the AI platform segment is expected to witness the fastest CAGR of 28.6% during the forecast period.
  • By deployment, on-premise mode of deployment holds the highest market share of US$ 18.9 Billion while the cloud segment is set to register the highest growth rate of 2% CAGR through 2032.
  • By industry, BFSI sector holds the largest market share of US$ 6.2 Billion while IT & telecom segment will register the highest CAGR of 5%.
  • Middle East digital transformation market is valued at around US$ 22.2 Billion.
  • The digital transformation market in North Africa is projected to grow at the highest CAGR of 8% during the assessment period.
  • Egypt will emerge as the most lucrative market for digital transformation solutions and services, exhibiting a CAGR of 2% throughout the forecast period.

Adoption of 5G and a Large Internet to Boost Growth of Digital Transformation Market in MENA

5G rollouts in this region are supporting digital transformation. The pandemic and availability of internet made it important for companies to engage with their customers online, such as ecommerce and digital marketing. This allowed digital transformation companies to provide their solutions and services to these companies.

To keep up with the developments that are occurring across MENA, several companies in these countries are shifting to the cloud, implementing automation tools and various other technological advancements that in turn boost digital transformation.

Leading Key Players:

  • Protiviti
  • Deloitte
  • Siemens
  • IBM
  • Palo Alto Networks
  • Digital Qatalyst
  • Torry Harris
  • Tech Carrot
  • Baariz
  • Zealous Web
  • Alareeb ICT
  • Ducont
  • DXC Technologies
  • Cognizant
  • Etisalat

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MENA Digital Transformation Market Segmentation:

By Solution:

  • Business Intelligence & Analytics Software
  • AI Platform
  • IoT Platform
  • Enterprise Mobility Management Suite
  • Cloud Enablement Platform
  • Enterprise Collaboration & Communication
  • Others

By Services:

  • Digital Transformation Consulting
  • Digital Transformation Technology Implementation
  • Digital Transformation Technology Integration
  • Digital Business Operations & Management
  • Others

By Deployment:

  • Cloud
  • On-Premises

By Enterprise Size:

  • Small and Medium-sized Enterprises (SMEs)
  • Large Enterprises

By Industry:

  • BFSI
  • Healthcare and Life Sciences
  • IT & Telecom
  • Retail and eCommerce
  • Travel and Hospitality
  • Media and Entertainment
  • Automotive
  • Others

By Country:

  • Saudi Arabia
  • United Arab Emirates
  • Qatar
  • Egypt
  • Israel
  • Rest of MENA

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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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