Strategy

IT spending in the Middle Eastern & North African region to reach $12.4 Billion in 2017

By Gartner, Inc
Strategy
Published: 13 February 2017

IT spending by banking and securities firms in the Middle East and North Africa is forecast to grow to $12.4 billion in 2017, a 3.5 percent increase from 2016, according to Gartner, Inc. This forecast provides total enterprise IT spending for internal spending and spending data on data center systems, devices, software, IT services and telecom services.

Software spending continues to have the fastest growth rate at 9.5 percent, followed by data center systems at 6.7 percent.

“IT spending has been dampened by uncertainty in the global scenario. But, data center systems are making a comeback in banking and securities as banks are investing in core applications and servers,” said Moutusi Sau, principal research analyst at Gartner.

Further information on the banking and securities industry IT spending is available in the Gartner report: “Forecast: Enterprise IT Spending for the Banking and Securities Market, Worldwide, 2014-2020, 4Q16 Update”. The banking and securities industry forecast provides total enterprise IT spending, including internal spending and multiple lines of detail surrounding spending on data center systems, devices, software, IT services and telecom services for 43 countries within 11 regions.