Middle East has been witnessing strong growth in its ICT sector for the past few years as the governments across the region are investing huge amount of funds for the development of this sector in a move to reduce their dependency on oil, “Middle East ICT Market Analysis” report said. Ongoing global economic downturn and a steep decline in oil prices have further enlightened the need for continuous development of the sector. The ICT market in the Middle East has the highest growth potential in the world. The region offers a plethora of opportunities to foreign players, like security for corporate and government networks, Internet services, IPTV, WiMAX, 3G and content & application development, the report said. The report also highlighted the factors responsible for the growth in the Middle East ICT market over the forecast period. It said that the booming industrial sector in the ME is playing critical role in promoting reforms and global competitiveness. Apart from this, regional governments' initiatives, such as liberalization and privatization of the telecom industry and setting up of technology parks, are infusing growth in the ICT industry. These governments are heavily investing in the development of Internet infrastructure to compete with the global Internet environment. A massive number of expansion opportunities for various industry players like mobile operators, internet/broadband providers, fixed-line operators, 3G operators and so on was also expected. Some key countries, such as Egypt, Turkey, Saudi Arabia, Israel, UAE, Jordan, Iran, Qatar, Oman and Bahrain, have shown interest in the ICT market expansion that indicate to regional trends and developments. Anticipating the current market trends and future prospects, we have done a comprehensive analysis of the Middle East ICT market. The report gives detailed country-wise analysis of the ICT market by studying it in terms of IT industry, mobile subscribers, fixed telephone line subscribers, Internet subscribers and broadband subscribers. Qatar may not be the largest IT market in the Gulf, but it appears better placed than some other markets in the region to withstand the current global economic headwinds. Business Monitor International, a leading financial information provider on country risk and industry research, reported that Qatar's total IT market will reach $621 million by 2013. Government spending, investment and private consumption growth are all expected to remain in positive territory.
