According to a new report by RNCOS, “Middle East ICT Market Analysisâ€, IT industry in Egypt has emerged as a rapidly growing segment of the country’s economy. Growing at a CAGR of more than 25% over the period from 2003 to 2007, total IT spending in the country has shown a remarkable performance in the recent past.
The biggest factors pushing IT spending in the country are incredible government support, such as the ‘PC for every home initiative (Egypt PC 2010)’, and setting up of more than 640 IT Clubs in dense and remote areas of the country. These initiatives are aimed at familiarizing Egyptians with computers and promote IT awareness regardless of skills, gender, and economic standing.
“Regional trade liberalizations have helped the IT industry to flourish largely on the back of huge FDI inflow in key industry verticals such as retail, telecommunication, real estate and tourismâ€, says Shushmul Maheshwari, CEO, RNCOS.
The emerging small and medium size business segment is also driving the growth in Egyptian IT industry. Consequently, the IT Industry is projected to grow at a CAGR of more than 11% over the forecast period, reveals the report.
Apart from Egypt, “Middle East ICT Market Analysis†offers extensive research and prudent analysis on the ICT industry across various Middle East countries such as Saudi Arabia, Jordan, Oman, Israel, Iran, Turkey, UAE, Bahrain and Qatar. It gives rational analysis on the IT and telecommunication industry for each of the country.
This report also provides an insight into historic and future scenario of various IT industry segments, such as software, hardware and services. It also gives valuable information regarding the telecommunication status in the country, growth of IT industry heavily rely on.
This research provides unbiased overview on the ICT industry, helping clients to better analyze investment options or high potential growth areas. It covers historic performance and 4-year forecast on ICT industry: IT industry, fixed-line telephony, mobile telephony, Internet & Broadband, and 3G.
About RNCOS:
RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of industry experts who analyze data collected from credible sources. They provide industry insights and analysis that helps corporations to take timely and accurate business decision in today’s globally competitive environment.
For more information visit: http://www.rncos.com/Report/IM562.htm
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