GCC Digital Transformation Market is expected to gain market growth in the forecast period of 2024-2030

According to MarkNtel Advisors study the GCC Digital Transformation Market size is estimated to grow at a CAGR of around 25.7% during the forecast period, i.e., 2024-30.

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Key Findings of the Study: GCC Digital Transformation market

GCC Digital Transformation Market Driver:

Surging Medical Tourism Fostering the Digital Transformation in the Healthcare Industry – GCC countries such as the UAE, Oman, Bahrain, etc., have witnessed surging growth in world-class healthcare systems and facilities in recent years, owing to the country's transformations towards a prime destination for medical tourism and initiatives to enhance public healthcare to a universal level. The governments in the region have been proactively trying to move away from their economic dependence on oil and the finite hydrocarbon industries and to develop more sustainable industries.

Consolidating these aims in their development strategies such as Qatar National Vision 2030, and Vision 2030 the government has been increasingly investing in digital health infrastructure to support the growth of world-class healthcare facilities. This includes electronic health records, telemedicine platforms, and health information exchange systems, contributing to the digital transformation of the healthcare sector. These investments have boosted the GCC Digital Transformation Market in the past years and expected to continue follow same pattern in the coming years as well.

Moreover, gulf countries such as Oman, the UAE, etc., heavily invest in specialized medical centers and clinics focusing on various medical specialties, including advanced treatments in areas such as cardiology, oncology, orthopedics, and cosmetic surgery. For instance, in 2023 Asan Medical Center announced plans to establish a 65-bed gastrointestinal specialized hospital in Dubai Healthcare City in Dubai by 2026. This specialization could attract patients seeking specific medical expertise in the coming years. As more specialized hospitals are established in the forecast period there will be an increased digital transformation in the healthcare sector.

GCC Digital Transformation Market Challenge:

Cyberattacks and Data Security Concerns Preventing Market’s Growth – As the GCC region increases the adoption and integration of digital technology in various sectors, also the rise in social engineering attacks has been seen over the years. These cyberattacks and data breaches affect businesses as well as stakeholders and erode their trust in digital transformation.

According to Kaspersky statistics in 2022, cyberattacks including social engineering and other threats to data loss increased in the UAE in the second quarter of 2022 by 230% when compared to the same period in 2021. These increasing c and data stealing affected the cost of many businesses as they have to invest in cybersecurity measures heavily to protect their data and other digital assets. Also, such data breaches affected the reputation of many organizations which is affecting the adoption of new digital technology and digital transformation service providers adversely. As the GCC region actively developing smart city infrastructures and pacing out digital transformation for economic growth, cyberattacks, and data security concerns could negatively impact the GCC Digital Transformation Market in the coming years.

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Scope of the Report and GCC Digital Transformation Market Segmentation:

By Technology

• Artificial Intelligence- Market Size & Forecast 2019-2030, (USD Million)
• Cloud Computing- Market Size & Forecast 2019-2030, (USD Million)
• Internet of Things - Market Size & Forecast 2019-2030, (USD Million)
• Blockchain- Market Size & Forecast 2019-2030, (USD Million)
• Cybersecurity- Market Size & Forecast 2019-2030, (USD Million)
• Others (Robotics, Extended Reality, etc.) - Market Size & Forecast 2019-2030, (USD Million)

By Deployment

• On-Premise- Market Size & Forecast 2019-2030, (USD Million)
• Cloud- Market Size & Forecast 2019-2030, (USD Million)

By Services

• Consulting Services
• Planning & Designing
• Engineering & Re-Engineering Services
• Network & Infrastructure Management
• Application Development
• Others

By Enterprise Size

• Small and Medium- Market Size & Forecast 2019-2030, (USD Million)
• Large- Market Size & Forecast 2019-2030, (USD Million)

By End User

• Banking, Financial Services and Insurance (BFSI)- Market Size & Forecast 2019-2030, (USD Million)
• Healthcare- Market Size & Forecast 2019-2030, (USD Million)
• Retail - Market Size & Forecast 2019-2030, (USD Million)
• Government Sector- Market Size & Forecast 2019-2030, (USD Million)
• Energy - Market Size & Forecast 2019-2030, (USD Million)
• Telecommunication- Market Size & Forecast 2019-2030, (USD Million)
• Manufacturing- Market Size & Forecast 2019-2030, (USD Million)
• Others (Education, Transportation, etc.) - Market Size & Forecast 2019-2030, (USD Million)

By Function

• Finance & Control
• Marketing & Sales
• Human Resource Management
• Production
• Operations & Logistics 
• Customer Service & Support
• Others

Banking, financial services and insurance (BFSI) have been gaining a notable market share in the market in recent years.

GCC Digital Transformation Market Development:

• In 2023, the UAE launched a guide for government entities to adopting artificial intelligence technology in their sectors such as transport, education, etc. to keep updated with the latest digital advancements.
• In 2023, Tonomus partnered with Nvidia and Oracle to increase the adoption of artificial intelligence technologies across the NEOM and Saudi Arabia

Geographical Analysis:

By Countries/ Region

By Country

• The UAE
• Saudi Arabia
• Qatar
• Kuwait
• Oman
• Bahrain

The UAE is anticipated to hold the major market share in the upcoming years due to the implementation of various digital technology adoption policies, various guide programs to promote the adoption of artificial intelligence and upgradation of existing digital technologies.

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