New Computer Technology market report from Business Monitor International: "Kuwait Information Technology Report Q2 2014"
Boston, MA -- (SBWIRE) -- 04/14/2014 -- At approximately US$84,000 Kuwait had one of the highest GDP per capita rates at the end of 2013, with only 2% of its population residing in rural areas. As a result we are confident that IT spending will continue to increase over our forecast period, projected to come in at KWD295mn (US$1,047mn) in 2014. We expect the sector will continue to feel the benefits of the Kuwaiti economy's strong performance 2014, with non-oil growth expected to accelerate on the back of strong domestic demand and a modest pickup in government capital spending.
Headline Expenditure Projections
- Computer Hardware Sales: KWD116mn in 2013 to KWD121mn in 2014, +4.3% in local currency terms. Relatively low household PC penetration opens up a growth opportunity of first-time buyers and in the upgrade/replacement market.
- Software Sales: KWD78mn in 2013 to KWD81 in 2014, +3.8% in local currency terms. Growing regional competition is fuelling enterprise spending on software and systems, with BMI expecting security software and solutions to outperform as awareness of risks and regional political tensions combine to create fertile growth conditions.
- IT Services Sales: KWD90mn in 2013 to KWD93mn in 2014, a 3.3% increase in local currency terms. Cloud computing, e-government and machine-to-machine services are identified as key growth areas that will make IT services a growth outperformer in the market from 2013 to 2017.
View Full Report Details and Table of Contents
Kuwait remains in fourth position in our Q2 2014 IT RRR table for the MENA region, with a score of 62.9. Kuwait comes behind Qatar, Israel and the UAE, but ahead of potentially larger markets such as Saudi Arabia and South Africa.
Key Trends & Developments
In December 2013 Microsoft Kuwait revealed a collaboration with the Kuwaiti Ministry of Education for the Master Teacher Training Program initiative. Through Microsoft's technologies and software access, the programme will facilitate better technology reach and boost Kuwait's education sector. The programme is in line with Microsoft's Innovative Educator Program, which aims to improve education through ICT integration in classrooms. Following completion of the programme, teachers will undertake sessions within their schools to share their newly acquired skills with their peers.
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