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Middle East and Africa Digital Transformation Market; with 31.2% share, Saudi Arabia to become the biggest market in terms of demand by 2021

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Research Nester has recently announced its latest research on “Digital Transformation Market : Middle East Demand Analysis & Opportunity Outlook 2023”, after studying the market situation and anticipating the future trends, the research provides a concrete platform for the existing and new players looking to enter into the market. The study provides information about market scenario of forecast period by analyzing the current situation.

Digital Transformation is defined as the application of technology to profoundly enhance performance of enterprises and extend their reach to customers. To achieve this, executives from different industries are focusing on implementation of digital platforms including social media, analytics, mobility and smart devices in their organization. In addition to that, effort is also being laid on improving traditional systems such as Enterprise Resource Planning (ERP), with an aim of transforming internal process, value propositions and customer relationships. 

The Middle East and North Africa (MENA) digital transformation market was valued at USD 1,121.4 Million in 2015 and is forecasted to garner a decent compound annual growth rate (CAGR) during 2015-2021. With 31.2% share in 2015, Saudi Arabia held the largest digital transformation market in the MENA region and is further forecasted to continue its dominance by the end of 2021.

Increasing e-government and smart city initiatives, growing internet penetration and social media usage, rapid adoption of digital services in BFSI sector and enterprise mobility are forecasted to be major growth drivers of MENA digital transformation marker over the forecast period i.e. 2015-2021.

However, high switching cost and increasing threat of cybercrimes are anticipated to dampen the MENA digital transformation market growth over next few years.

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