Boston, MA -- (ReleaseWire) -- 01/07/2014 -- Kuwait lags behind its peers in the take-up of ICT. However, the country shows promise as the government's push to increase IT usage and growing private consumption drive Kuwait's IT market during our forecast period, through to 2017. This quarter we will focus on the competitive landscape and the role international and local companies play in the Kuwaiti market.
Headline Expenditure Projections
- Computer Hardware Sales: KWD113mn in 2012 to KWD114mn in 2013, +1.4% in local currency terms. Relatively low household PC penetration opens up a growth opportunity of first-time buyers and in the upgrade/replacement market.
- Software Sales: KWD72mn in 2012 to KWD76 in 2013, +5.5% in local currency terms. Growing regional competition is fuelling enterprise spending on software and systems, with BMI expecting security software and solutions to outperform as awareness of risks and regional political tensions combine to create fertile growth conditions.
- IT Services Sales: KWD83mn in 2012 to KWD88mn in 2013, a 4.3% increase in local currency terms. Cloud computing, e-government and machine-to-machine services are identified as key growth areas that will make IT services a growth outperformer in the market from 2013 to 2017.
View Full Report Details and Table of Contents
Kuwait remains in fourth position in our Q1 2014 IT RRR table for MENA with a score of 60.6. Kuwait lies behind Qatar, Israel and the UAE, but ahead of potentially larger markets such as Saudi Arabia and South Africa.
Key Trends & Developments
BMI believes that over the medium term the IT security software and solutions market is set to boom in Kuwait, and across the Middle East region. Kuwait has not been directly affected by recent incidents of cyber warfare; however, there is potential it could become caught up in rising tensions in the region. In response to these developments, Qatar and Kuwait financed the construction of a new Gulf internet cable network that went live in March 2013.
About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff will help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.
Browse all Computer Technology research reports at Fast Market Research
You may also be interested in these related reports:
- South Africa Information Technology Report Q1 2014
- Venezuela Information Technology Report Q1 2014
- Turkey Information Technology Report Q1 2014
- Colombia Information Technology Report Q1 2014
- Indonesia Information Technology Report Q1 2014
- Mexico Information Technology Report Q1 2014
- Thailand Information Technology Report Q1 2014
- Hungary Information Technology Report Q1 2014
- Israel Information Technology Report Q1 2014
- Slovenia Information Technology Report Q1 2014