Government ICT spending in MEA to reach $15bn by 2023, IDC says – The National

Government ICT spending in MEA to reach $15bn by 2023, IDC says – The National

Government ICT spending in MEA to reach $15bn by 2023, IDC says. Government spending on information and communication technologies in the Middle East and Africa region will surge at a compound annual growth rate of 4.8 per cent to reach $15 billion (Dh55.05bn) by 2023, up from Dh46.97bn last year, predicted International Data Corporation.. Digital transformation initiatives will be the main drivers behind this expenditure growth, with government spending in this space forecast to grow at a CAGR of 17.6 per cent in the region, found the Massachusetts-based researcher.. With ICT spending touching Dh51.38bn, South Africa is currently the biggest IT market in the region.. Governments throughout the region are also increasingly looking to incorporate various technologies such as blockchain within their digital transformation initiatives.. While MEA governments spent only Dh77.07 million on blockchain last year, IDC expects that figure to cross Dh385.35m in next four years, growing at a CAGR of 49.2 per cent.. Whereas, government spending on AI in the region is forecast to grow at 22.2 per cent annually over the coming years, said IDC.. The UAE is projected to benefit the most in the region from AI adoption.. The UAE will be followed by Saudi Arabia,