Introduction
Digital transformation describes the adaptation of a company’s
value proposition, technology strategy and operational model to the
fundamental changes brought by digital technologies. Digital
transformation technologies are transforming organization’s
business models, value chains, ecosystem as well as revolutionizing
its interaction with customer through online platforms, social media
and mobile devices. Digital transformation takes in digital services
and digital software which are becoming mainstream in various major
verticals such as banking, financial services and insurance (BFSI)
sector, manufacturing and retail sector as these services and
software enhance customer experience at all the levels of customer
touch points.
Middle
East & North Africa Digital Transformation: Market Value and
Forecast
The MENA digital transformation market was valued at 897.0 Mn in 2013
and is projected to account for US$ 2,398.3 Mn by 2020, registering a
healthy CAGR of 15.1% from 2014 to 2020. Increasing need for enhanced
customer experience at all levels of customer interaction points and
enhanced process transparency in enterprises across the MENA region
is driving the growth of MENA digital transformation market.
Moreover, increasing eGovernment and smart city initiatives in Saudi
Arabia and the UAE, with the objective to transform themselves into
digitally-enabled countries, is further supporting the market growth.
MENA
Digital Transformation Market: Key Device Type
FMI has segmented MENA digital transformation market into digital
software and digital services. Digital services segment dominated the
market with over half of the overall MENA digital transformation
market share in 2014. However, this is expected to decrease by 70 BPS
by 2020. The digital software segment been further sub-segmented into
digital content and application, digital sales & commerce,
digital marketing, digital consumer experience & service, and
digital integration platform software. Among all the digital software
sub-segments, digital content and application and digital sales &
commerce software sub-segments dominated the market in 2014. Digital
service segment includes digital consulting, digital technology
implementation, digital technology integration and digital operations
& management service. Of all the previously mentioned
sub-segments, digital technology implementation sub-segment dominated
the market in 2014 followed by digital technology integration service
sub-segment.
Key
Verticals in the Middle East & North Africa Market
By end-user vertical banking, financial services and insurance (BFSI)
and public sectors dominated with over 40% share of the MENA digital
transformation market in 2013. However, the media & entertainment
sector sub-segment is projected to exhibit the fastest CAGR during
the forecast period, followed by the retail sector sub-segment. This
growth is attributed to the shift from print to digital media,
increasing penetration of smartphones and changing consumer buying
habits.
MENA
Digital Transformation Market: Region-wise Outlook
Ongoing infrastructural modernisation across major GCC and North
African countries in MENA region in terms of digitisation is leading
to an increase in uptake of digital software and digital services
across end-user verticals. At present, Saudi Arabia is dominating the
market with over one-third share of the overall MENA digital
transformation market, followed by the UAE and Algeria. However,
Qatar is expected to grow at a significant double-digital CAGR over
the forecast period from 2014 to 2020.
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