Digital transformation investments in the Middle East, Turkey, and Africa (META) are set to double across the 2020-25 period, according to the latest forecast from International Data Corporation (IDC).
The global technology research, consulting, and events firm says that digital transformation spending in the region will accelerate at a compound annual growth rate (CAGR) of 16.6% over the five-year period, topping $58 billion in 2025 and accounting for 40% of all ICT investments made that year.
“The COVID-19 pandemic has thrust us into a digital-first world, where new digital habits are reshaping consumer behavior,” says Crawford Del Prete, global president at IDC.
“At the same time, end-user organizations are taking a digital-first approach to products, services, customer and employee experiences, and operations. For these organizations, accelerating the journey to becoming a digital enterprise is essential not only for navigating the uncertainties brought about by the pandemic but also for thriving in the future,” Del Prete added.
With end users across the META region increasingly embracing this new approach to business — leveraging advanced technologies to drive innovation, transform their products, and facilitate critical business outcomes — IDC believes that technology providers need to ramp up their capabilities to address their evolving needs.
“Building a portfolio that has a significant share of advanced technologies such as cloud, IoT, AI, and edge computing, developing business-outcome-focused conversations with customer executives, strengthening skills in advanced technologies, deepening industry knowhow, and fostering an innovation mindset will all be essential competencies that tech providers need to develop if they are to sustain and increase customer wallet share in the digital-first world,” continues Del Prete on Digital transformation forecast.
Such insights will take center stage at IDC Directions 2022 Middle East, Turkey & Africa on Monday, January 31 at Dubai’s Atlantis, The Palm as IDC brings together META’s most influential technology vendors, telecommunications operators, and IT service providers to examine the very latest digital acceleration trends shaping end-user investment priorities across the region.
Taking place in person once again following 2021’s virtual installment, the event will provide essential guidance to the region’s foremost ICT vendors on proven best practices for transforming themselves into new-age digital partners for their customers.
“As different parts of the region take varied paths of recovery from the pandemic — some more uneven than others — organizations in all industries will strive to develop resiliency by aggressively leveraging technologies such as cloud, AI, digital infrastructure, IoT, and security, among others,” says Jyoti Lalchandani, IDC’s group vice president and managing director for the META region. “As digital innovation scales up and industry ecosystems converge during the post-Covid recovery, technology providers need to position themselves to tap into significant new growth opportunities and unearth ways to create new customer value.”
Lalchandani will expand on this as he hosts an exclusive session titled ‘Unlocking Opportunities in the Digital-First World’, during which he will present IDC’s outlook for the ICT markets of the META region.
He will be joined by Del Prete, who will share a global perspective on the new demands set to influence the future of the tech industry.
The event will provide an unrivaled platform for exchanging ideas and engaging with IDC’s most prominent local and global analysts, while also enabling attendees to tailor their experience to include dedicated sessions on the specific technologies, industries, and geographies that are most relevant to their organizations.