New Computer Technology research report from Business Monitor International is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 12/23/2013 -- Israel's IT market is the most developed in the Middle East with a well developed ecosystem of major global investors, start-ups and universities engaged in cutting edge research. These features compensate for the relatively small and mature market that means growth rates are below those of many other MEA markets. We estimate IT spending reached ILS22.6bn in 2013, with relatively stronger growth in software and services. We believe IT spending will remain on a positive trajectory in 2014 and over the medium term. The market will increasingly be driven by software and services in key sectors such as government, defence and financial services - resulting in IT services accounting for 36.4% of the overall market spending by 2017.
Headline Expenditure Projections
Computer Hardware Sales: ILS9.56bn in 2012 to ILS9.55bn in 2013, down 0.1% in local currency terms. Slow growth in incomes has dampened demand in the retail market, but this has been partially compensated for by Israeli businesses investing more to facilitate expansion.
View Full Report Details and Table of Contents
Software Sales: ILS5.0bn in 2012 to ILS5.1bn in 2013, an increase of 2.3% y-o-y. Enterprise software spending will be the main growth driver as device and data proliferation will result in increased spending on customer relationship management (CRM), databases and business intelligence.
IT Services Sales: We expect IT services sales will outperform the rest of the IT market, increasing from ILS7.73bn in 2012 to ILS7.90bnin 2013. Cyber security services will outperform in terms of growth, but it will be stable sectors such as government and defence that continue to account for the majority of spending.
Key Trends & Developments
- The PC market in Israel has been negatively impacted by the weak economic environment and the shift in consumption to tablets. Notebook volumes have declined as consumers opt for relatively cheap tablets, helping to sustain volumes, but squeezing market value. These trends will continue to squeeze the market but we identify medium term opportunities unlocked by the launch of Windows 8 operating system and the potential for innovation in multi-use hybrid/convertibles to blend productivity and consumption use cases.
- The IT services market is expected to outperform software and hardware - with demand for cloud computing, outsourcing and security services driving growth. Cyber security threats have become more prominent in the consciences of government and enterprises, and we expect spending to increase markedly over the short-to-medium term. Meanwhile, banking and retail will be key verticals driving the growth of the cloud computing market as they seek cost savings, and look to increase flexibility.
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
- Turkey Information Technology Report Q1 2014
- Indonesia Information Technology Report Q1 2014
- Hungary Information Technology Report Q1 2014
- Slovenia Information Technology Report Q1 2014
- Philippines Information Technology Report Q1 2014
- Czech Republic Information Technology Report Q1 2014
- Chile Information Technology Report Q1 2014
- Peru Information Technology Report Q1 2014
- Bulgaria Information Technology Report 2014
Copyright © 2005-2014 - SBWire, The Small Business Newswire - All Rights Reserved - Important Disclaimer
Contact Us: 888-4-SBWIRE (US) - 920-593-5640 (International)