Enterprise IT spending across the Middle East, Turkey, and Africa (META) region will see strong year-on-year growth of 7% in 2022 to cross the $40.2 billion mark, according to the latest projections by International Data Corporation (IDC).
Here are the key highlights:
- Spending on telecommunications to increase 3.2% year-on-year to $137 billion, with IT spending set to grow 2% YoY to reach $92 billion.
- Spending on digital transformation (DX) initiatives in the post-pandemic period are forecast to grow as a share of enterprise IT spending from 26% in 2020 to 38% in 2024.
- Spending on security (hardware, software, and services) will grow 7% to top $3.76 billion.
- Spending on public cloud services will grow 27.3% to surpass $6.8 billion.
- SaaS apps will account for 41% of public cloud software spending, followed by IaaS at 29%, systems infrastructure SaaS at 18%, and PaaS at 12%.
- Spending on AI will grow 24.7% to total $1.2 billion.
- Spending on RPA software will grow 47.5% to cross $159 million.
- Spending on Big Data analytics will grow 8.1% to reach $3 billion.
Overall, spending on Information and communications technology (ICT) across the Middle East, Turkey, and Africa (META) region will top $229 billion this year, an increase of 2.7% over 2021 as the market continues to rebound from the turbulence of the last two years.