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The last few years have only seen the name of Middle East appear in the oil politics. The government has now decided to change its focus from Oil to ICT . The reason for such a major shift of attention are the global downturn and also the steep decline which the oil prices are experiencing.
ICT sector which has changed the development paradigm of the countries, it will now catalyze the growth of the middle east. The report published by India-based market research firm RNCOS titled as 'Middle East ICT Market Analysis,' unfolds that for the past few years the governments across the region are investing huge amount of funds for the development of ICT . It is a well thought of initiative to reduce their dependency on oil.
The Middle East is a burgeoning market which offers vast opportunities for the stakeholders of the ICT industry. The market dynamics fully supports the high potential that is still unexplored in the region.
The countries that have been scanned in the report include Egypt, Turkey, Saudi Arabia, Israel, UAE, Jordan, Iran, Qatar, Oman, Bahrain, and Kuwait, among others. The Report published by RNCOS foresees expansion opportunities for industry players of mobile operators, Internet/broadband providers, fixed-line operators, 3G operators and others.
The report has segmented the different markets as well as the countries so as to have a very insightful study into the prevalent situation which is likely to spur the economic growth of the region.
Massive expansion is also expected in a very less time as the government is extending its full co-operation The study confirms that apart from tested and tried measures like liberalization and privatization of the telecom industry,setting up of technology parks will infuse a new life in the ICT industry. The report believes that the rapidly changing regulations will make the Middle East a lucrative destination from the players of the concerned industry.
The future prospects of the Middle East will move at a brisk pace with the number of initiatives that have been unleashed by the government which is investing heavily in the infrastructure to compete with the global markets. The environment is quite receptive for the foreign players to earn dividends by venturing in the untapped industry of the Middle East.
Archana Singh
archanasi@cybermedia.co.in