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Market Analysis of GCC IT Industry
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IT Industry in GCC
Market Analysis of GCC IT Industry
- The idea of choosing the best companies in GCC is to make a perfect combination and to take advantage of the active IT business environment in these regions
- IT industry in UAE, Kuwait, Lebanon, KSA and Oman is booming and it is the right time for KGL Investment to be an active participant in the market
Countries of Focus
• Kuwait IT Sector SWOT
Kuwait Software Industry
- Total spending on Software in 2005 was US$88mn and previous year US$70mn
- One of the mature market in the region
- Software enjoys a higher share of Kuwait IT spending than in many other countries
- Recent boost in oil wealth encouraging banks to support a new wave of infrastructure investment
- Expecting the total size of the Kuwaiti IT market to increase from US$338mn in 2005 to around US$830mn in 2010
- IT services market is expected to be worth around US$118mn in 2006
- Market CAGR is forecast at 21% for 2005 - 2010
UAE IT Sector SWOT
• UAE Software Industry
- Estimated UAE software spending will boom from US$236mn in 2005 to US$471mn in 2010
- Central geographic areas for the software industry are Dubai, Abu Dhabi, and Sharjah
- UAE market will have a CAGR of 15% in 2005-2010
Lebanon IT Sector SWOT
• Lebanon Software Industry
- Predicted software value of US$37mn in 2006, and a 2005-2010 CAGR of 11%
- Lebanon Market is expected to grow significantly with the Implementation of large government and projects
- The domestic software industry is highly export focused, with 1/3 of firms, according to a recent survey, getting 75% of all receipts from regional and Western markets
- Leading Lebanese software companies tend to have a focus on banking, retail, education and trade
Saudi Arabia IT Sector SWOT
• KSA Software Industry
- Predicted software market value of US$460mn in 2006, up from US$441mn in 2005
- The domestic software market is therefore expected to grow significantly, driven by an increased focus by Saudi enterprises on more sophisticated solutions that still offer value for money.
- The CAGR for software revenues is expected to be in the region of 11%
- Saudi IT services market is expected to reach US$1bn in 2006, up from US$719mn in 2005
- Support and maintenance accounted for more than 1/3 (US$252mn) of the 2005 figure
- Growth is expected to be at a CAGR of 12% for the 2005-2010 period
Overview of IT Spending
Path solutions Kuwait
- Kuwaiti Private company established in 1992
- Strong set-up of Islamic commercial & investment banking software and products solutions
- Dealing with one of the largest Islamic banks in the country and outside the country
- Ranked the world’s number one dedicated Islamic banking system vendor for 2005 in the influential international banking systems annual sales league table.
• Short profile
• Kuwaiti private company, established in 1991
• Employees 110
• Strong set-up of Local and International data communication infrastructure
• Providing Networking, internet services and mobile services
• Strong cliental profile
Emirates Technology Company
- Established in 1974 with the total employees of 250
- Strong network of branches in UAE
- Wide range of software solutions to the IT industry
- Strong Banking cliental portfolio in the country
- The company is using a world leading core banking software (Flexcube).
BML Istisharat Lebanon
- BML has a strong presence in IT and telecom industry in the country and worldwide
- The company has more 300 clients worldwide including fortune of 500 companies
- BML has strong cliental portfolio with one of the leading banking, investment and financial institutions
Comium Group Lebanon
• Lebanon base Joint stock privately owns company
• Established in 1992
• 600 Staff
• One of the major player in the country in telecom services
• Strong network of branches including Europe and America
• BML has strong cliental portfolio in the country and outside the country
National Technology Group KSA
- Established 1984 and the total number of employees are 500
- NTG has a strong presence in the market for a long time
- The company is enjoying a strong business relationship with a leading Saudi Arabia banking and other companies
- NTG have more than 10 subsidiaries in the Kingdom
- NTG is the leading IT services provider in the kingdom
Industrial Management Technology and Contracting Company
- Established in 1984 and total number of employees are 200
- Industrial management technology and contracting company is mature IT Company in Omani market
- The company has a strong cliental profile with outstanding IT solutions
- The company is specialized for Banking, transportation and financial software solutions.
Why These Companies
- Consumer oriented companies
- Corporate governance of these companies would be easy to change
- Strong presence in the market for a very long time
- Mature in IT industry
- Strong cliental portfolio private and government
- Comprehensive range of software and products
- Specialized in commercial, investment and Islamic banking software
- Knowhow of the market and good reputation
- Lead by high Professional teams