GCC IT spend to reach $20bn by 2024
Saturday, 08 22 2020, Category: Technology, Country: Gulf Cooperation Council
A new study by research firm Roland Berger reveals that enterprise IT spend on GCC markets is expected to increase from $16.5bn in 2019 to $20bn by 2024.
Sectors such as healthcare, education, media, financial services are expected to accelerate their IT spend growth by 2-3 times over this period, the report adds.
Moreover, the top five prioritised emerging use cases – e-consultation, e-health monitoring, e-learning, automated mining, and safety and sanitation – are expected to drive a total market opportunity of $5bn in the GCC by 2024.
The report also states that telcos are expected to accelerate investment in 5G and fibre connectivity which is expected to boost their capital expenditure to 23 per cent of revenue by 2021, up from 18-19 per cent in 2019.
Source: Gulf Business