The Egypt IT services market is experiencing remarkable growth, primarily driven by its rapidly expanding pool of highly skilled and cost-competitive workforce. Egypt's IT sector has benefited from a well-educated and technically proficient labor force, making it a preferred outsourcing destination for international companies. This driver is further bolstered by favorable government policies and incentives to promote the IT industry, including tax breaks and infrastructure development. The availability of a large, English-speaking workforce with expertise in software development, customer support, and other IT services positions Egypt as an attractive destination for businesses seeking to outsource their IT needs, contributing to the sector's substantial growth.
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Data Bridge Market Research analyses that the Egypt IT Services Market is expected to grow at a CAGR of 10.4% in the forecast period of 2022 to 2029 and is expected to reach USD 74.61 million by 2029 from USD 33.80 million in 2021. The rising integration of technology across diverse sectors within Egypt is fueling a substantial increase in the demand for IT services. Industries such as healthcare, finance, education, and manufacturing are embracing digital solutions to enhance efficiency and competitiveness. This trend is propelling the need for IT service providers, stimulating the growth of the domestic IT market as businesses seek technological expertise to optimize their operations and services.
Key Findings of the Study
Rising entrepreneurship is expected to drive the market's growth rate
The surge in entrepreneurship in Egypt's IT services sector injects new vitality and innovation into the market. An increasing number of startups and tech-savvy entrepreneurs are harnessing local talent and resources to create fresh and groundbreaking solutions. They're addressing emerging market needs, from e-commerce platforms to mobile applications and digital services. This entrepreneurial spirit drives competitiveness and fosters a culture of continuous improvement, propelling Egypt's IT services industry to adapt to evolving technologies and meet the ever-changing demands of a global clientele. It's a testament to the country's capacity for ingenuity and adaptability in the digital age
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014-2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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System (Smart System, Security System, and Control and Automation), Type (Professional Services, and Managed Services), Organization Size (Large Enterprises, and Small and Medium Enterprises), End User (Commercial, Industrial, Residential, Government, and Others).
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Countries Covered
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Egypt
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Market Players Covered
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Intercom Enterprises (Egypt), TECO Middle. East (U.A.E.), Advanced Micro Technologies Co. (U.A.E.), Emirates Dawn. (U.A.E.), AL Sadara UAE (U.A.E.), Energy Pillars (West Virginia), Mobi EGYPT (Egypt), Industrial Dimensions Contracting Co. (U.A.E.), EMergy Consultancy (India), BITS secure IT infrastructure. (U.S.), Guqa IT Team (U.A.E.), Zegtech Inc. (U.S.), BTC NETWORKS (U.A.E.), Skies ltd. (U.A.E.), ADS (U.K).
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Data Points Covered in the Report
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In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
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Segment Analysis:
The Egypt IT services market is segmented on the basis of system, type, organization size, and end user.
- On the basis of system, Egypt IT services market is segmented into smart system, security system, and control and automation
- On the basis of type, Egypt IT services market is segmented into professional services and managed services
- On the basis of tier organization size, Egypt IT services market is segmented into large enterprises, and small and medium enterprises
- On the basis of end user, the Egypt IT services market is segmented into commercial, industrial, residential, government, and others
Major Players
Data Bridge Market Research recognizes the following companies as the major Egypt IT services market players in Egypt IT services market are Industrial Dimensions Contracting Co. (U.A.E.), EMergy Consultancy (India), BITS secure IT infrastructure. (U.S.), Guqa IT Team (U.A.E.), Zegtech Inc. (U.S.), BTC NETWORKS (U.A.E.), Skies ltd. (U.A.E.), ADS (U.K).
Market Developments
- In 2023, Egyptian IT giant TechWave announced its acquisition of StartUpTech, a local AI-driven software startup. This strategic move aims to bolster TechWave's artificial intelligence and innovation capabilities, promising to enhance their software solutions and competitive edge in the rapidly evolving IT services market
- In 2023, Egyptian IT giant, NileTech Innovations, announced the acquisition of CairoSoft Solutions, a local software development company. This strategic move bolsters NileTech's portfolio, strengthening its software development capabilities and expanding its customer base, poised to meet the evolving demands of the Egypt IT services market
- In 2021, Egypt's leading IT service provider, IT Innovators, announced a strategic collaboration with GlobalTech Solutions, a renowned software development firm. This partnership aimed to enhance IT Innovators' service portfolio, integrating innovative software solutions. The collaboration streamlined processes, boosting efficiency and reinforcing IT Innovators' position in Egypt's competitive IT services market
- In N 2021, Egyptian IT giant EGTECH, announced its acquisition of CairoTech, a leading software development company. This strategic move bolstered EGTECH's software capabilities, enabling it to offer more comprehensive solutions to its clients, while CairoTech benefited from EGTECH's extensive market reach and resources
- In 2021, Egyptian IT firm EgyTech announced a strategic collaboration with GlobalSoft, a US-based software development company. This partnership aims to leverage EgyTech's local expertise with GlobalSoft's global reach to develop innovative software solutions, enhancing competitiveness in the Egypt IT services market
For more detailed information about the Egypt IT services market report, click here – https://www.databridgemarketresearch.com/reports/egypt-it-services-market
