Jordan ICT Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Jordan ICT Market Analysis

The Jordan ICT Market size is estimated at USD 3.5 billion in 2024, and is expected to reach USD 4.80 billion by 2029, growing at a CAGR of 6.47% during the forecast period (2024-2029).

• The ICT market includes both IT and telecom. IT investments are increasing in Jordan, and the demand for ICT is expected to grow significantly over the next five years. The growing need to explore and adopt digital technologies and initiatives, the rise in overall digitalization demand and scalable IT infrastructure, the widespread adoption of 5G networks, and the increasing penetration of technology investments are significantly boosting the ICT market's growth in the country. Although information and communication technology (ICT) is ubiquitous, it plays a crucial role in the country's economic development.
• Driven by a growing emphasis on digital technologies such as cybersecurity, artificial intelligence, and robotics, the ICT sector in Jordan is experiencing notable expansion. Local companies are making substantial investments in both hardware and software services, further fueling this growth.
• The country is witnessing a surge in the adoption of 4G and 5G technologies, driven by the expansion of new networks and a growing appetite for high-speed connectivity services. 5G's transformative potential impacts various sectors of Jordan's economy, supporting applications from enhanced mobile broadband to extensive IoT deployments. Its high speed and low latency are crucial in driving this transformation.
• According to Ericsson, 5G subscriptions in the Middle East and North Africa (MENA) region are projected to grow significantly, with an annual compound growth rate of 41%. By 2029, these subscriptions are expected to account for approximately 40% of the total subscriptions in the region. This growth in the region is expected to fuel opportunities for market players in Jordan.
• Furthermore, the country is gaining traction in the e-commerce sector, which demands a robust cloud infrastructure. In August 2023, The Jordan Customs Department (JCD) launched an electronic platform designed as a comprehensive documentary database aimed at streamlining the e-commerce landscape. This initiative addresses the trade sector's demands and underscores the government's commitment to safeguarding Jordanian traders, sellers, and producers. It is a proactive step to counter a trend where consumers, rather than supporting local goods, are increasingly turning to electronic platforms, causing significant losses to the sector.

Jordan ICT Market Trends

Consistent Digital Transformation Initiatives are Driving the Market

Jordan ICT Industry Segmentation

ICT encompasses a spectrum of technological tools that facilitate the transmission and processing of information. The term itself is an amalgamation of information, communication, and technology. The study tracks key market parameters, underlying growth influencers, and major vendors operating in the industry, which supports the market estimations and growth rates over the forecast period. The study also tracks the revenue accrued from various ICT types that are used in various industry verticals across Jordan.

The Jordanian ICT market is segmented by type (hardware, software, IT services, and telecommunication services), size of enterprises (small and medium enterprises and large enterprises), and industry vertical (BFSI, IT and telecom, government, retail and e-commerce, manufacturing, energy and utilities, and other industry verticals). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.