Egypt ICT Market

Egypt ICT Market Overview:

The Egypt ICT market size reached US$ 27.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 39.7 Billion by 2032, exhibiting a growth rate (CAGR) of 4.30% during 2024-2032. The market in Egypt is majorly driven by rising government investments, increasing internet and mobile penetration, escalating tech startup ecosystem, continual technological advancements, the digital transformation of businesses, and robust education and skill development programs.

Egypt ICT Market Trends:

Government Initiatives and Investments

The pioneering role played by the Egyptian government in the development of the ICT sector is driving the growth of the market. This includes various government programs to improve digital infrastructure, innovate technology, and encourage startups. The government has been pouring resources into digital infrastructure, with plans to build out broadband networks, as well as develop technology parks and innovation hubs. Furthermore, the ministry of communications and information technology (MCIT) implemented digital literacy and skills programs to raise the population competencies and contribute to the supply of skilled forces necessary to cater to the increased demands of the market of the ICT sector. These initiatives are not only fostering a conducive environment for local businesses but are also attracting significant foreign investment.

Rising Internet and Mobile Penetration

The increase in internet and mobile penetration is accelerating the growth of the Egypt market. The availability of cheaper smartphones and better data plans by telecom operators has certainly reduced the cost of internet use to even the smallest of portions of our population. The enhanced level of connectivity is augmenting the demand for a plethora of ICT services such as e-commerce, online banking, e-learning, and digital entertainment. Businesses are also prompted to bring in their digital solutions due to the growth in the number of internet users. The growing number of users are, of course, also increasing the ICT user market and presenting new opportunities for market diversification and development in the industry.

Growing Tech Startup Ecosystem

Egypt's tech startup ecosystem is burgeoning and is serving as a key driver for the growth of the ICT market. There has been the emergence of a contingent of technology and innovation start-ups in the country making it a key ground for entrepreneurship. This growth is fueled by several factors, including availability of funds, mentorship programs, and accelerated initiatives. Startups are being funded and nurtured by institutions such as the information technology industry development agency (ITIDA) and any number of private sector entities such as the private sector of organizations. Technology startups are disrupting the market and bringing changes in areas such as fintech, Healthtech, edtech, and e-commerce that are serving as a gateway to innovation and a new market. These start-ups are using state-of-the-art technologies, such as AI, blockchain, and IoT (Internet of things) to develop creative solutions to solve local and regional problems.

Digital Transformation of Businesses

Digital transformation of businesses digital transformation of businesses, businesses of all sectors in Egypt is turning out to be a major driver for the ICT industry market in the country. Companies in finance, healthcare, retail, and manufacturing are incorporating digital technologies to increase effectiveness, deliver better customer experience, and remain competitive, leading them to make major investments in R&D. Massive ETL being is achieved by businesses investing in cloud computing, big data analytics, cybersecurity, enterprise software solutions typically with the goal of making operations more efficient and to glean insights around data. With businesses in need of an upgrade to traditional IT infrastructure and digital strategies, there is an increased need for ICT services, such as managed IT services, software development, and IT consulting. This trend pushes the market to grow as the novelty of tech requires continuous generation of technology-based solutions and services.

Egypt ICT Market News:

• On 31^st October 2023, Siemens and Microsoft partnered to drive cross-industry AI adoption. Companies are working together to build additional copilots for manufacturing, infrastructure, transportation, and healthcare industries.
• On 4^th January 2024, IBM announced a new program that reimagines how IBM engages with its business partners through unprecedented access to IBM resources, incentives and tailored support to deepen their technical expertise and help speed time to market. The program is designed to fuel growth for new and existing partners, including resellers, technology providers, independent software vendors and systems integrators, by putting them in control of their earning potential. 
   

Egypt ICT Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for ​2024-2032​. Our report has categorized the market based on type, size of enterprise, and industry vertical.

Type Insights:

• Hardware
• Software
• IT Services
• Telecommunication Services
   

The report has provided a detailed breakup and analysis of the market based on the type. This includes hardware, software, IT services, and telecommunication services.

Size of Enterprise Insights:

• Small and Medium Enterprises
• Large Enterprises
   

A detailed breakup and analysis of the market based on the source have also been provided in the report. This includes small and medium enterprises and large enterprises.

Industry Vertical Insights:

• BFSI
• IT and Telecom
• Government
• Retail and E-commerce
• Manufacturing
• Energy and Utilities
• Others
   

The report has provided a detailed breakup and analysis of the market based on the application. This includes BFSI, IT and telecom, government, retail and e-commerce, manufacturing, energy and utilities, and others.

Regional Insights:

• Greater Cairo
• Alexandria
• Suez Canal
• Delta
• Others
   

The report has also provided a comprehensive analysis of all the major regional markets, which include Greater Cairo, Alexandria, Suez Canal, Delta, and Others.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Egypt ICT Market Report Coverage:

Key Questions Answered in This Report:

• How has the Egypt ICT market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the Egypt ICT market?
• What is the breakup of the Egypt ICT market on the basis of type?
• What is the breakup of the Egypt ICT market on the basis of size of enterprise?
• What is the breakup of the Egypt ICT market on the basis of industry vertical?
• What are the various stages in the value chain of the Egypt ICT market? 
• What are the key driving factors and challenges in the Egypt ICT?
• What is the structure of the Egypt ICT market and who are the key players?
• What is the degree of competition in the Egypt ICT market? 

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Egypt ICT market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the Egypt ICT market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Egypt ICT industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.