April 16, 2010 -
PRLog -- Market Overview Egypt is expected to continue its rise over the next few years as one of the key regional markets for IT vendors, but at a slower rate than before, due to the current economic headwinds. BMI has downwardly revised its five-year forecast, due to the economic situation, but IT spending is still expected to increase from US$1.2bn in 2008 to US$1.9bn by 2013. This makes it one of the fastest growing global markets. PC sales slowed in the second half of 2008, as the global credit crunch hit, but the fundamentals of low computer penetration and growing affordability should keep the market on an upwards path. Following two more challenging years in 2009 and 2010, the market is expected to grow at a CAGR of 11%. A series of factors should drive growth over the forecast period, including a large young population, growing foreign investment and government spending. Computer penetration will rise from around 10% currently to about 17% in 2013. Computer penetration is higher among the business community, but there is still considerable potential for growth, particularly in manufacturing. The Nazif administration seems likely to remain committed to promoting IT as part of its overall development strategy, and has announced several plans designed to further computer penetration, and develop Egypt's outsourcing capabilities. Industry Developments In August 2008, the Ministry of Communications and IT announced a nationwide version of the 'Computer for Every Home' initiative. The programme aims to broaden computer and internet usage to new sections of Egyptian society. First launched on a limited basis in 2002, 'Computer for Every Home' is being expanded as part of a co-operation with the National Telecom Regulatory Agency (NTRA) to bundle computers with internet services. Egypt's e-government initiatives continue in a number of key areas. The Egyptian Minister of State for Administrative Development has said that some 200 government services will soon be available online through a new e-government portal. The portal will offer 70 services, in both English and Arabic. According to the Ministry for Administrative Development, more than 20 government agencies currently offer services and licences online. Another key objective is the government's drive to develop Egypt as a location for outsourcing and business process outsourcing (BPO) services. In 2007 the government set an ambitious target for the country to capture US$1.1bn of the global outsourcing market by 2010, which would be four times the 2005 level. A 2008 report from US consulting firm Yankee Group identified Egypt as the Middle East country most likely to take advantage of the global outsourcing boom.
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