Increasing demand for industrial automation is driving the MENA digital transformation marketElectronicsUpdated on Nov 20, 2018 View more like this | Visit India, UN | Contact Future Market Insights |
Market Definition and Segmentation: Increasing demand for industrial automation is driving the MENA digital transformation market
Digital technologies are transforming an organization’s business models, value chains and ecosystem, as well as revolutionising its interaction with customers through online platforms, social media and mobile devices. Digital transformation is the integration of digital technology into all the areas of a business and it can be defined as the reworking of the products, processes and strategies within an organisation by leveraging current technologies.
The MENA digital transformation market is segmented into four categories, which are digital services, digital software, end-user vertical and region. On the basis of digital services, the MENA digital transformation market is segmented as digital consulting services, digital technology implementation services, digital technology integration services and digital operations & management services. By digital software, the MENA digital transformation market is further segmented as digital content & applications, digital sales & commerce, digital marketing, digital customer experience & service and digital integration platforms. Moreover, on the basis of end-user verticals, the MENA digital transformation market is sub-segmented as retail, BFSI, energy & utility, telecom, healthcare, manufacturing, services, media & entertainment, transportation and public sector.
Market Segmentation Analysis: The digital consulting segment is expected to witness the highest CAGR in the MENA digital transformation market
In this report, FMI has segmented the MENA digital transformation market on the basis of digital services, digital software, end-user vertical and region. By digital services, the MENA digital transformation market is further segmented into digital consulting services, digital technology implementation services, digital technology integration services and digital operations & management services. The digital consulting sub-segment is expected to grow at a relatively higher CAGR in the forecast period in MENA digital transformation market. Organisations are competing with each other by providing enhanced customer services at all levels, which is increasing the need for an efficient and innovative digital roadmap strategy and consulting in the MENA digital transformation market. Due to this factor, the digital consulting services sub-segment is expected to create an incremental opportunity of US$ 177 Mn between 2014 and 2020 in the MENA digital transformations market. However, the digital technology implementation sub-segment is expected to capture the largest market share in terms of value in the MENA digital transformation market. In terms of value, this segment is expected to grow at a CAGR of 14.9% during the forecast period.
The rising need for the integration of digital technology deployed at different levels in an organisation, such as the front and back office, is one of the major factors driving the MENA digital transformation market. Moreover, firms and electric utilities companies in the MENA region are introducing digital initiatives to provide digital services such as online utility bills, outage notification and regular updates to their customers, which is creating potential growth opportunities for the MENA digital transformation market.
Government Regulations and Increasing Number of Smart City Projects are driving the MENA Digital Transformation Market
The MENA digital transformation market has been segmented into four major regions, namely GCC, Saudi Arabia, North Africa and other Middle East. The GCC region is further sub-segmented into five countries, which are Bahrain, Qatar, UAE, Kuwait and Oman. In terms of value, the Qatar digital transformation market is estimated to expand at a CAGR of 18.6% over the forecast period. This growth can be attributed to the latest laws and regulations introduced by the local government, such as e-transaction and e-commerce laws, which has created significant opportunities for local as well as global players in the MENA digital transformation market. Moreover, the UAE is projected to maintain its dominance in terms of total revenue generation in the MENA digital transformation market. Rising content digitisation & creation and the increased adoption of digital transformation software & services in major sectors, such as government, BFSI and retail, are some of the major factors expected to fuel the growth of the MENA digital transformation market.
Digital technologies are transforming an organization’s business models, value chains and ecosystem, as well as revolutionising its interaction with customers through online platforms, social media and mobile devices. Digital transformation is the integration of digital technology into all the areas of a business and it can be defined as the reworking of the products, processes and strategies within an organisation by leveraging current technologies.
The MENA digital transformation market is segmented into four categories, which are digital services, digital software, end-user vertical and region. On the basis of digital services, the MENA digital transformation market is segmented as digital consulting services, digital technology implementation services, digital technology integration services and digital operations & management services. By digital software, the MENA digital transformation market is further segmented as digital content & applications, digital sales & commerce, digital marketing, digital customer experience & service and digital integration platforms. Moreover, on the basis of end-user verticals, the MENA digital transformation market is sub-segmented as retail, BFSI, energy & utility, telecom, healthcare, manufacturing, services, media & entertainment, transportation and public sector.
Market Segmentation Analysis: The digital consulting segment is expected to witness the highest CAGR in the MENA digital transformation market
In this report, FMI has segmented the MENA digital transformation market on the basis of digital services, digital software, end-user vertical and region. By digital services, the MENA digital transformation market is further segmented into digital consulting services, digital technology implementation services, digital technology integration services and digital operations & management services. The digital consulting sub-segment is expected to grow at a relatively higher CAGR in the forecast period in MENA digital transformation market. Organisations are competing with each other by providing enhanced customer services at all levels, which is increasing the need for an efficient and innovative digital roadmap strategy and consulting in the MENA digital transformation market. Due to this factor, the digital consulting services sub-segment is expected to create an incremental opportunity of US$ 177 Mn between 2014 and 2020 in the MENA digital transformations market. However, the digital technology implementation sub-segment is expected to capture the largest market share in terms of value in the MENA digital transformation market. In terms of value, this segment is expected to grow at a CAGR of 14.9% during the forecast period.
The rising need for the integration of digital technology deployed at different levels in an organisation, such as the front and back office, is one of the major factors driving the MENA digital transformation market. Moreover, firms and electric utilities companies in the MENA region are introducing digital initiatives to provide digital services such as online utility bills, outage notification and regular updates to their customers, which is creating potential growth opportunities for the MENA digital transformation market.
Government Regulations and Increasing Number of Smart City Projects are driving the MENA Digital Transformation Market
The MENA digital transformation market has been segmented into four major regions, namely GCC, Saudi Arabia, North Africa and other Middle East. The GCC region is further sub-segmented into five countries, which are Bahrain, Qatar, UAE, Kuwait and Oman. In terms of value, the Qatar digital transformation market is estimated to expand at a CAGR of 18.6% over the forecast period. This growth can be attributed to the latest laws and regulations introduced by the local government, such as e-transaction and e-commerce laws, which has created significant opportunities for local as well as global players in the MENA digital transformation market. Moreover, the UAE is projected to maintain its dominance in terms of total revenue generation in the MENA digital transformation market. Rising content digitisation & creation and the increased adoption of digital transformation software & services in major sectors, such as government, BFSI and retail, are some of the major factors expected to fuel the growth of the MENA digital transformation market.
