|[February 17, 2014]
Research and Markets: IT Market in GCC 2014-2018: GCC Countries Were the Recipients of Around 5% of Global FDI in 2013
DUBLIN --(Business Wire)--
Research and Markets (http://www.researchandmarkets.com/research/zhwjbx/it_market_in_gcc)
has announced the addition of the "IT
Market in GCC 2014-2018" report to their offering.
The analysts forecast the IT market in GCC to grow at a CAGR of 8.49
percent over the period 2013-2018. One of the key factors contributing
to this market growth is the growing demand for cloud services. The IT
market in GCC has also been witnessing increasing FDI inflows. However,
the shortage of skilled workforce could pose a challenge to the growth
of this market.
Key vendors dominating this space are Dell Inc., Hewlett Packard Co.,
IBM (News - Alert) Corp. and Lenovo Group Ltd.
Other vendors mentioned in the report are Apple Inc., Brocde
Communication Systems Inc., Cisco Systems Inc., EMC Corp., Fortinet (News - Alert)
Inc., Injazat Data Systems Ltd., Letosys Computer Systems LLC.,
Middle-East Data Systems Holdings, Oracle Corp., and Sage Group plc.
Commenting on the report, an analyst from the team said: Many investors
across the globe are focusing on GCC countries. Investors are being
attracted by the large market size and high purchasing power of GCC
countries. Also, the increasing focus on non-oil sectors by governments
of GCC countries is another factor that has led to increased interest
among investors. The UAE and Saudi Arabia top the list in terms of FDI,
while Kuwait and Qatar are still catching up. The IT sector has
attracted 10-12 percent of the total number of FDI deals in the GCC
during the last five years. Various IT investment programs and
e-government initiatives are key reasons why the IT industry is a
lucrative option for investors.
According to the report, the adoption of cloud services is still in the
early stages in the GCC. Although only one-third of GCC enterprises are
currently using some form of cloud, many others are showing increased
interest in it. It has been observed that there is a specific interest
among organizations in adopting private clouds, and Telecom is one of
the largest spending sectors in this area.
For more information visit http://www.researchandmarkets.com/research/zhwjbx/it_market_in_gcc
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