Digital transformation spend to hit $38bn by 2021 in META
IDC Directions 2018 zoomed in on the opportunities and challenges that are shaping developments in the Middle East
International Data Corporation hosted its ‘IDC Directions 2018' event where it unveiled digital transformation (DX) initiatives spend in the Middle East, Turkey, and Africa (META) will hit $38bn by 2021.
Under the theme ‘Digital Economy at a Tipping Point: ICT Market Outlook for META in 2018', analysts examined the shifting trends and priorities that will shape ICT investment in future.
IDC's chief research officer and executive vice president for worldwide products, Crawford del Prete, presented his vision for the global ICT industry.
He said: "The ICT industry is entering the 2nd chapter of the 3rd Platform era, built on technologies and business models that will dramatically accelerate - and scale - digital innovation.
"The META region finds itself at the DX tipping point and is well poised to accelerate its adoption of 3rd Platform technologies like cloud and big data analytics, as well as highly disruptive innovation accelerators such as the Internet of Things, artificial intelligence (AI), cognitive systems, robotics, augmented/virtual reality, 3D printing, and Blockchain. The emergence and widespread adoption of these technologies will accelerate innovation and transform the ICT landscape as we know it."
Jyoti Lalchandani, IDC's group vice president and managing director for META, delved into how third platform technologies will see the region surpass $176bn by 2021. He said that the big 4 markets - Saudi Arabia, Turkey, South Africa and the UAE all show long term investment in IT, in particular, Saudi Arabia as the country's budget for this year will focus on Vision 2020 and tourism.
The event also offered insight on security and despite increased spend on security, it will be insufficient due to complex nature of the threat landscape. IoT will become more mainstream this year and set to reach $12,6bn in 2021, as well as big data and analytics solutions.