|By Business Wire||
|February 17, 2014 08:35 AM EST||
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 Corp. and Lenovo Group Ltd.
Other vendors mentioned in the report are Apple Inc., Brocade Communication Systems Inc., Cisco Systems Inc., EMC Corp., Fortinet 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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Research and Markets is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
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